Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 83

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 83
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, as a wholly owned subsidiary of
Mentor in order to prepare to fulfill certain February 16, 2022 modification agreement performance obligations related to installment
payments the Company receives from a non-affiliated party.

Ally
Waste Services, LLC

On
October 4, 2023, in connection with the sale of the Company’s 51% ownership interest in WCI, the Company received a one-year unsecured,
subordinated, promissory note in initial principal face amount of $1,000,000 from Ally Waste Services, LLC (“Ally”) at 6%
per annum. The $1,000,000 initial principal face amount of the note plus accrued interest of $60,000 was paid by Ally on October 4, 2024.

Overview

The Company maintains an opportunistic acquisition
focus. It sold its former legacy investment in the former facilities operations segment and continues looking to expand into the classic
energy markets of oil, gas, coal, uranium, and related businesses. In 2023, the Company initially signaled a substantial return to its
energy roots, starting with a tracking investment in five New York Stock Exchange energy companies in the oil and gas, coal, and uranium
markets. 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. The royalty interests entitle the Company to receive a proportional share of revenues generated from the
production of hydrocarbons from the underlying property, without incurring any operating or production costs. The Company also maintains
gold investment and short-term treasury exchange traded funds for the purpose of facilitating investment into the Company to support potential
future energy acquisitions and to collect low-risk interest to offset inflation, respectively.

Business
Approach

Mentor endeavors to maintain a low overhead operation
in order to deliver a higher rate of return on capital to its common and preferred stockholders.

The Company’s primary investment aim is
to acquire revenue-generating energy assets, such as oil and gas royalties, oil service businesses or other private energy operating companies
as viable opportunities for such acquisition(s) become available. Our general headquarters functions are aimed at providing accounting,
legal, and general business support for our larger investment targets and our majority-owned subsidiaries. We monitor our smaller and
less than