Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 51

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 51
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$0, at March 31, 2025 and 2024, respectively. The Company monitors changes in market conditions, commodity prices,
production volumes, and other factors, which may materially impact the recoverability of our royalty interests.

Mentor IP, LLC (MCIP)

On April 18, 2016, the Company formed Mentor IP, LLC
(“MCIP”), a South Dakota limited liability company and wholly owned subsidiary of Mentor, to hold interests
related to patent rights. On October 24, 2023, the Company divested Mentor IP, LLC’s intellectual property and licensing rights
related to a certain United States and Canadian patent. The Company received no payment for its divestment. Patent application and maintenance
fees have been expensed when paid and there were no assets related to the MCIP patents represented on the condensed consolidated financial
statements at March 31, 2025 and December 31, 2024.

NeuCourt, Inc.

NeuCourt, Inc. (“NeuCourt”) is a Delaware
corporation that is developing a technology that is expected to be useful to the dispute resolution industry.

On July 15, 2022, the Company and NeuCourt entered
into an Exchange Agreement whereby the Company’s outstanding convertible promissory notes and accrued interest, in an aggregate
net amount of $83,756, was exchanged for a Simple Agreement for Future Equity (“SAFE”) in equal face value. On January 20,
2023, the Company and NeuCourt entered into a SAFE Purchase Agreement, increasing the Company’s aggregate SAFE Purchase Amount to
$93,756. At March 31, 2025 and December 31, 2024, the SAFE Purchase Amount was $93,756.

On December 21, 2018, the Company purchased 500,000
shares of NeuCourt Common Stock, approximately 6.13% of the issued and outstanding NeuCourt shares at March 31, 2025.

G FarmaLabs Limited

On August 27, 2021, the Company and Mentor Partner
I entered into a Settlement Agreement and Mutual Release with G FarmaLabs Limited, its affiliated entities, and guarantors (“G Farma
Settlors”) to resolve and settle all outstanding claims on an unpaid finance lease receivable and notes receivable of balances of
$803,399 and $1,045,051, respectively, plus accrued interest (“Settlement Agreement”). On October