Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 33

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 33
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 January 1, 2015 through
September 30, 2023 for Series D warrants were $1.60 per share plus a $0.10 per warrant redemption fee, if applicable. On October 14, 2023,
the Board of Directors of the Company authorized a reset of the Series D warrants strike price to $0.02 plus the $0.10 per warrant redemption
fee, if applicable, and the exercise price in effect at March 31, 2025 for the Series D warrants is $0.02 per share plus a $0.10 per warrant
redemption fee, if applicable.

In 2009, the Company entered into an Investment Banking
agreement with Network 1 Financial Securities, Inc. and a related Strategic Advisory Agreement with Lenox Hill Partners, LLC regarding
a potential merger with a cancer development company. In conjunction with those related agreements, the Company issued 689,159 Series
H ($7) Warrants, with a 30-year life. As of March 31, 2025, and December 31, 2024, there were 413,512 Series H ($7) Warrants outstanding.
The warrants are subject to cashless exercise based upon the ten-day trailing closing bid price preceding the exercise as interpreted
by the Company.

As of March 31, 2025, and December 31, 2024, the weighted
average contractual life for all Mentor warrants was 13.25 years and 13.50 years, respectively, and the weighted average outstanding warrant
exercise price was $0.62 and $0.64 per share, respectively.

During
the three months ended March 31, 2025, no
Series D warrants were exercised, and no warrants were issued. The intrinsic value of outstanding warrants at March 31, 2025 and
December 31, 2024 was $110,500
and $237,150,
respectively.

The following table summarizes Series D common stock
warrants as of each period:

 Schedule of common stock warrants

    Series D 
  
    Outstanding at December 31, 2023 
     6,250,000 
  
    Issued 
     - 
  
    Canceled 

    Exercised 
     2,000,000 

    Outstanding at December 31, 2024 
     4,250,000 
  
    Issued 
     - 
  
    Exercised