Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 238

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 238
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 did not have any equipment sales revenue for the years ended
December 31, 2024 or 2023.

In
2020, the Company repossessed leased equipment under G Farma’s control with a cost of $622,669 and sold it to the highest offerors
for net proceeds of $249,481 after shipping and delivery costs. Net sales proceeds were applied against the finance lease receivable.

On
July 11, 2023, the Court entered judgment against the G Farma Entities in favor of Mentor and Partner I in the amount of $2,539,597.
The judgment also accrues post-judgment interest at the rate of 10% from July 11, 2023 until such time as the judgment is paid in full.
Collection is uncertain at this time. The remaining finance lease receivable balance is fully impaired at December 31, 2024 and 2023.
See Notes 9 and 16 to the consolidated financial statements.

Mentor
Partner II, LLC

Mentor
Partner II, LLC (“Partner II”) was reorganized as a limited liability company under the laws of the State of Texas on
February 17, 2021. The entity was originally organized as a limited liability company under the laws of the State of California on
February 1, 2018. Partner II was formed as a wholly owned subsidiary of Mentor for the purpose of acquisition and investment. Partner II originally held the contractual rights to lease payments from Pueblo West Organics, LLC (“Pueblo
West”) which was paid in full to Partner II on September 28, 2022. See Note 9 in the Company’s Annual Report for the
period ended December 31, 2023 on Form 10-K as filed with the Securities and Exchange Commission on April 1, 2024 for further
discussion regarding the former Master Equipment Lease Agreement between Partner II and Pueblo West.

TWG,
LLC

On
October 4, 2022, the Company formed TWG, LLC (“TWG”), a Texas limited liability company, 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