Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 185

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 185
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3 annual installment payment of $117,000. Three additional $117,000 annual installment
payments were due in early 2024, 2025, and 2026. The 2024 annual installment payment has not been received. At June 11, 2024, the receivable
was fully impaired due to a history of uncertain payments.

The
April 10, 2015 account receivable is supported by an exchange agreement and consisted of the following at December 31, 2024 and 2023:

 Schedule of receivables with imputed interest

    2024  
    2023 
  
    Face value* 
    $287,200  
    $285,400 
  
    Impairment 
     (250,208) 
     - 
  
    Total 
     36,992  
     285,400 
  
    Unamortized discount 
     (36,992) 
     (46,551)
  
    Net balance 
     -  
     238,849 
  
    Long term portion 
    $-  
    $238,849 

*Coincident with the June
                                                                                                                                                              11, 2024 impairment, accounts receivable of $2,300 were reclassed and concurrently impaired. Prior to the full impairment, the
                                                                                                                                                              Company reduced the face value of its investment in account receivable by an additional $100 per month for five receivable payment
                                                                                                                                                              installments.

On
June 11, 2024, our investment in account receivable was impaired by $250,208. The $250,208 impairment consisted of the Company’s
estimate of the reduction of $287,200 purchased receivable offset by a ($36,992) purchased receivable discount. The Company’s recognition
of an impairment loss due to the uncertainty of collection does not diminish its contractual rights to collect the full amounts due pursuant
to the contract. The Company intends to continue to vigorously pursue the payment of the annual payments and associated amounts owed
by available legal means.

For
the years ended December 31, 2024 and 2023, $9,559 and $41,741 of discount amortization are included in interest income.

    F-26

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

Note
5 – Note receivable

On