Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 28

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 28
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31, 2025 and
December 31, 2024, Partner I recognized no finance lease revenue. See Note 16.

Net finance leases receivable, non-performing, consist
of the following at March 31, 2025 and December 31, 2024:

 Schedule of net finance leases receivable, non-performing 

    March 31, 
2025

    December 31,
2024

    Gross minimum lease payments receivable
     
    $
    1,203,404

    $
    1,203,404

    Accrued interest

    -

    -

    Less: unearned interest

    (400,005)

    (400,005
    )
  
    Less: reserve for bad debt

    (803,399)

    (803,399
    )
  
    Finance leases receivable
     
    $
    -

    $
    -

    -20-

Note 9 – Interest in oil and gas royalties

In
March 2025, the Company acquired three fractional, non-operating royalty interests in oil and gas properties covering approximately
one-hundred twenty-one (121) wells in the Spraberry Field of the Permian Basin in West Texas, through related public auctions for
total consideration of $1,369,899
as follows:

    ○
    On March 20, 2025, Mentor
    Capital, Inc. purchased an average of 0.0332439%
    oil and gas royalty interests in seven (7) producing horizontal wells and a royalty interest of approximately 0.15625%
    in two (2) non-producing mineral wells located in the Permian Basin situated in Howard County, Texas from Bluestem Royalty Partners,
    LP, a Texas limited partnership, for a total acquisition cost of $60,980.
    Prior to the Company’s purchase, average daily production in the last six months was approximately 5,252
    BBLs and 5,580
    MCF. Transfer of title to oil, gas, and mineral royalty interests and other interests in the name of Mentor Capital, Inc. was
    recorded on April 3, 2025, subsequent to quarter-end, in Howard County, Texas by a certain Mineral and Royalty Deed effective March
    1, 2025. Therefore, royalty payments owed to the Company commenced and are recognized as of March 1, 2025. The Company estimates