Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 953

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 953
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4, 2023 and recognized a gain on the disposal of discontinued operations totaling
$4,805,389. The $4,805,389 gain on disposal of discontinued operation represented the amount of our purchase price allocation at 51%
WCI assets and liabilities, net investment in 51% of WCI earnings, and net investment in WCI distributions offset by the sale price as
of the disposal date of October 4, 2023. We eliminated WCI from our consolidated financials on October 4, 2023. Accordingly, WCI was
excluded from the Company’s continuing operations in the Company’s Annual Report for the period ended December 31, 2023 on
Form 10-K as filed with the Securities and Exchange Commission on April 1, 2024 and the prior period of comparison, and WCI’s financial
results are presented as a discontinued operation in the Company’s consolidated financial statements.

Discontinued
operation financial statement presentation and disclosures

Financial
statement presentation

Due
to the sale of our entire ownership interest in WCI on October 4, 2023, our facilities operation segment was eliminated. Following our
sale of WCI, the Company received no new income from WCI and had no further involvement or continuing influence over its operations.
Consequently, we determined that the results from operations and assets and liabilities associated with our facilities operation segment
were to be excluded from our continuing operations and we presented WCI as a discontinued operation in our December 31, 2023 consolidated
financial statements and the prior reporting period in accordance with ASC Topic 205-20-45, “Discontinued Operations.”

    F-18

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

Discontinued
operations balance sheet

The
following is a summary of the assets and liabilities of our discontinued operation that were sold effective October 4, 2023:

  Schedule of balance sheet

    October 4, 2023(1) 
  
    ASSETS 

    Current assets: 

    Cash and cash equivalents 
    $369,387 
  
    Accounts receivable 
     786,616 
  
    Other current assets 
     19,027 
  
    Total current assets sold - discontinued operation 
     1,169,030 
  
    Property and equipment 
     179,673 
  
    Goodwill(2)