Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 103

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 103
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 business strategy, results of operations, and financial condition have not been materially affected by risks from cybersecurity
threats, and we have not experienced any material cybersecurity incidents. Our ability to manage our cybersecurity risks does not allow
us to predict our cybersecurity vulnerability to ordinary, novel, or sophisticated cyber-attacks and cyber warfare threats in the future.
As a result, we cannot provide future assurances that we will not be materially affected by cybersecurity risks or material cybersecurity
incidents in the future. For more information on the risks that the Company faces, including cybersecurity-related risks, see our Item
1A Risk Factors section of this Annual Report on Form 10-K.

Item
2. Properties.

Continuing
Operations

Mentor
rented 2,000 square feet of office space for $2,990 per month under a one-year lease in San Diego, California, which expired in September
2020. Mentor relocated to Plano, Texas, in September 2020 and now reimburses facilities costs of $2,456 per month to the property owners,
the Billingsley family. Reimbursable facilities costs have not increased since 2020. The Company does not pay rent. The Company’s
combined San Diego rent and facilities costs formerly totaled $4,408 per month.

MCIP,
Partner I, Partner II, and TWG office and administrative support are provided by Mentor in its Plano, Texas corporate offices.

Discontinued
Operation

Our
discontinued operation and former facilities segment, Waste Consolidators, Inc. (“WCI”), managed our former Arizona and Texas
operations from Phoenix, Arizona, where it leased 5,603 square feet of office and warehouse space pursuant to a Multi-Lessee Industrial
Net Lease effected September 15, 2022, for an initial lease term of sixty-one months commencing on October 1, 2022. The monthly base
rent was $5,603 for the period October 1, 2022, to September 30, 2023. On October 1, 2022, our discontinued operation also paid its monthly
pro rata share (3.89% of total rental square footage estimated at $1,289 per month or $0.23 per square foot per month) of the
annual common area operating expenses and common area improvements incurred by the landlord. Previously, our discontinued operation managed
its Arizona and Texas business from Tempe, Arizona, where it leased approximately 3,000 square feet of office and warehouse