Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 29

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 29
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000
in the form of a NeuCourt Simple Agreement for Future Equity under the same terms as the previous July 15, 2022 SAFE Purchase Agreement
between NeuCourt and the Company, increasing the aggregate SAFE Purchase Amount to $93,756. At June 30, 2025 and December 31, 2024, the
SAFE Purchase Amount was $93,756.

Note
8 – Finance leases receivable

Net
finance leases receivable from G Farma payable to Mentor Partner I, LLC (“Partner I”) remain fully impaired at June 30, 2025
and December 31, 2024. At June 30, 2025 and December 31, 2024, Partner I recognized no finance lease revenue. See Note 16.

Net
finance leases receivable, non-performing, consist of the following at June 30, 2025 and December 31, 2024:

 Schedule of net finance leases receivable, non-performing  

    June 30,  2025  
    December 31, 2024 
  
    Gross minimum lease payments receivable 
    $1,203,404  
    $1,203,404 
  
    Accrued interest 
     -  
     - 
  
    Less: unearned interest 
     (400,005) 
     (400,005)
  
    Less: reserve for bad debt 
     (803,399) 
     (803,399)
  
    Finance leases receivable 
    $-  
    $- 

    -21-

Note
9 – Interest in oil and gas royalties

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 as follows:

○On
                                            March 20, 2025, Mentor Capital, Inc. purchased an average of 0.0332439% oil and gas royalty
                                            interests in seven (7) producing horizontal wells and a royalty interest of approximately
                                            0.15625% in two (2) non-producing mineral wells located in the Permian Basin situated in
                                            Howard County, Texas from Bluestem Royalty Partners, LP, a Texas limited partnership, for