Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 40

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 40
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 at the product of 105% and the closing price of the Company’s
Common Stock on a date designated and published by the Company. The Series Q Preferred Stock will be available only to accredited, institutional,
or qualified investors.

The
Company sold and issued 11
shares of Series Q Preferred Stock on May 30, 2018, at a price
of $10,000
per share, for an aggregate purchase price of $110,000
(“Series Q Purchase Price”). The Company invested
the Series Q Purchase Price as capital in Partner II to purchase equipment to be leased to Pueblo West. On September 27, 2022, Pueblo
West exercised its lease prepayment option and purchased the manufacturing equipment for $245,369.
On September 28, 2022 Partner II transferred full title to the equipment to Pueblo West. Therefore, the Core Q Holdings at September
30, 2022 and December 31, 2022 included this interest. On April 3, 2025, the Company announced that the Series Q Preferred Stock was
fully backed by the Company’s investment in gold at a valuation of $100,928
per kilogram at an equal starting value of $20,843
per share. Core Q Holdings backed by gold will not bear operating
costs. Core Q Holdings backed by gold are intended to be reallocated into leading Mentor energy assets and projects of equal starting
value that are selected by management. Upon selection, the value of allocated energy assets would be reallocated to the Core Q Holdings
and an equal value of gold would  coincidently be reallocated in a ledger entry back to the Company. Reallocated energy assets would
bear a ratio of associated costs. The Core Q Holdings Asset Value at June 30, 2025 and December 31, 2024 was $22,553
and $20,843
per share, respectively. There was no contingent liability
for the Series Q Preferred Stock conversion at June 30, 2025 and December 31, 2024. At June 30, 2025 and December 31, 2024, the Series
Q Preferred Stock could have been converted into the Company’s Common Stock at the Conversion Price of $0.105
and $0.105
per Mentor Capital, Inc. common share, respectively.

Note
14 - Accrued salary, accrued retirement, and incentive fee - related party

The
Company had an outstanding liability