Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 98

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 3
Chunk 98
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 and
financial condition.

As a result of the risk factors set forth below and
elsewhere in this Form 10-Q and in our Form 10-K, and the risks discussed in our Rule 15c2-11 and other publicly disclosed submissions,
actual results could differ materially from those projected in any forward-looking statements.

We face significant risks, and the risks described
below may not be the only risks we face. Additional risks that we do not know of or that we currently consider immaterial may also impair
our business operations. If any of the events or circumstances described in the following risks actually occurs, our business, financial
condition or results of operations could be harmed, and the trading price of our Common Stock could decline.

We
may incur material expenses or delays in financings or SEC filings due to the dismissal of our former auditor, BF Borgers, and our
stock price and access to the capital markets may be affected.

As a
public company, we are required to file annual and quarterly financial statements with the Securities and Exchange Commission which
are audited or reviewed, as applicable, by independent registered public accountants who are PCAOB-registered, and permitted to
appear and practice before the Securities and Exchange Commission. On May 3, 2024, our former auditor, BF Borgers was prohibited
from practicing before the Securities and Exchange Commission. On May 15, 2025, the Company’s audit committee and Board of
Directors unanimously approved the engagement of the Company’s new independent registered public accountant who completed our
recent year-end 2024 audit and the re-audit of 2023 and 2022 opening balances. Regardless, any negative news about the proceedings
against BF Borgers may also adversely affect investor confidence and public perception of the Company. All of these factors could
materially and adversely affect our business, the market price of our common stock, and our ability to access the capital
markets.

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Variable financial conditions can be challenging.

Securing additional sources of financing to enable us to increase investing
in our target markets will be difficult, and there is no assurance of our ability to secure such financing. A failure to obtain additional
financing, or to continue to generate capital from the sale of operating businesses and assets, or to generate positive cash flow from
operations could prevent us from continuing to seek out and invest in larger new companies.

Mentor will continue to attempt to raise capital resources
from related and unrelated parties through the sale of equity and