Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 25

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 25
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 (36,992) 
     (36,992)
  
    Net balance 
     -  
     - 
  
    Long term portion 
    $-  
    $- 

    *
    Coincident
    with the June 11, 2024 impairment, accounts receivable of $2,300 were reclassed and concurrently impaired. Prior to the full impairment,
    the Company reduced the face value of its investment in account receivable by an additional $100 per month for five receivable payment
    installments.

On
June 11, 2024, our investment in account receivable was impaired by $250,208. The $250,208 impairment consisted of the Company’s
estimate of the reduction of $287,200 purchased receivable offset by a ($36,992) purchased receivable discount. The Company’s recognition
of an impairment loss due to the uncertainty of collection does not diminish its contractual rights to collect the full amounts due pursuant
to the contract. The Company intends to continue to pursue the payment of the annual payments and associated amounts owed
by available legal means.

For
the three months ended June 30, 2025 and 2024, $0 and $4,808 of discount amortization is included in interest income, respectively. For
the six months ended June 30, 2025 and 2024, $0 and $9,559 of discount amortization is included in interest income, respectively.

    -19-

Note
5 – Note receivable

On
October 4, 2023, in connection with the sale of the Company’s ownership interest in WCI, the Company received a one-year unsecured,
subordinated, promissory note in an initial principal face amount of $1,000,000 from Ally Waste Services, LLC (“Ally”) at
6% per annum. On the note maturity date, October 4, 2024, the Company received full payment of the one-year promissory note from Ally.
The payment consisted of the payment of the $1,000,000 initial principal face amount of the note plus accrued interest of $60,000.

Note
6 - Property and equipment

Property
and equipment are comprised of the following:

 Schedule of property, plant and equipment

    June 30,  2025  
    December 31,  2024 
  
    Computers 
    $33,626  
    $33,