Company: MNTR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021833
Chunk: 9

Company: Mentor Capital, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 9
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November 22, 2017 and October 31, 2018, the Company purchased convertible notes in principal face value of $50,000 and $25,000, respectively,
from NeuCourt, Inc. (“NeuCourt”) that each bore interest at 5% per annum. On November 7, 2019, October 28, 2020, and January
4, 2022, the Company received 25,000, 52,000, and 27,630 warrants covering an aggregate of 105,130 shares of NeuCourt common stock exercisable
at $0.02 per share in exchange for the Company’s agreement to extend the maturity dates of the convertible notes. On July 15, 2022,
all principal and accrued interest on the notes were converted into a Simple Agreement for Future Equity (“SAFE”). At September
30, 2025, the SAFE Purchase Amount is $93,756. On December 21, 2018, Mentor paid $10,000 to purchase 500,000 shares of NeuCourt common
stock, representing approximately 6.13% of NeuCourt’s issued and outstanding common stock at September 30, 2025. See Note 7.

The
Company held an interest in a facilities operations company, Waste Consolidators Inc. (“WCI”) until October 2023. The Company
purchased a 50% interest in WCI in 2003 and increased its ownership stake by 1% in 2014. On October 4, 2023, the Company sold the entirety
of its ownership interest in WCI for $6,000,000. Following the sale, the Company received no new income from WCI and had no further involvement
or continuing influence over its operations. As a result of this sale, our facilities operations segment was eliminated, and its results
of operations, assets, and liabilities were excluded from our continuing operations. See Note 3.

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The
Company maintains an opportunistic acquisition focus. After it sold its former legacy investment in WCI, it looked to expand into the
classic energy markets of oil, gas, coal, uranium, and related businesses. In 2023, the Company initially signaled a substantial return
to its energy roots, starting with a tracking investment in New York Stock Exchange energy companies in oil and gas, coal, and uranium.

In
March 2025, the Company acquired three fractional, non-operating royalty interests in