Company: MNTR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021833
Chunk: 38

Company: Mentor Capital, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 38
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 Series A, Series B, and Series C warrants have been exercised and are no longer outstanding.

Once
the Series D warrants have been fully redeemed and exercised, the fees for the Series D warrant series will likewise be distributed.
Mr. Billingsley has agreed to assume liability for paying these redemption fees and therefore warrant redemption fees received are retained
by the Company for operating costs. Should Mr. Billingsley be incapacitated or otherwise become unable to pay the warrant redemption
fees, the Company will remit the warrant redemption fees to former holders from amounts otherwise due to Mr. Billingsley from the Company,
which are sufficient to cover the redemption fees at September 30, 2025 and December 31, 2024.

Note
13 - Stockholders’ equity

Common
Stock

The
Company was incorporated in California in 1994 and was redomiciled as a Delaware corporation, effective September 24, 2015. There are
75,000,000 authorized shares of Common Stock at $0.0001 par value. The holders of Common Stock are entitled to one vote per share on
all matters submitted to a vote of the stockholders.

    -26-

Issuer
Purchases of Equity Securities

On
August 8, 2014, the Company announced that it was initiating the repurchase of 300,000 shares of its Common Stock (approximately 2% of
the Company’s common shares outstanding at that time). A total of 44,748 shares were repurchased between August 8, 2014 and September
9, 2015. As of July 31, 2023, 300,000 shares had been repurchased and a total of 300,000 shares had been retired.

On
October 14, 2023, the Board of Directors of the Company approved an additional stock repurchase plan authorizing the Company to repurchase
up to 3,000,000 shares of the Company’s common stock (approximately 12% of the Company’s common shares outstanding at that
time) at a total repurchase amount not to exceed $200,000. During the period January 1, 2024 through December 31, 2024 a total of 3,000,000
shares have been repurchased and effectively retired, as follows:

 Schedule of repurchase and retired number of shares

    Period 
    Total number of shares purchased  
    Average price paid per share  
    Total number of shares purchased