Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1619

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 1619
---
31, 2024 and 2023, no warrants were
redeemed.

Note
12 – Warrant redemption liability

The
Plan of Reorganization provides the right for the Company to call, and the Company or its designee to redeem warrants that are not exercised
timely, as specified in the Plan, by transferring a $0.10 redemption fee to the former holders. Certain individuals desiring to become
a Company designee to redeem warrants have deposited redemption fees with the Company that, when warrants are redeemed, will be forwarded
to the former warrant holders through DTCC or at their last known address 30 days after the last warrant of a class is exercised, or
earlier at the discretion of the Company. The Company has arranged for a service to process the redemption fees in offset to an equal
amount of liability.

In
prior years, Series A, Series B, and Series C redemption fees were distributed through DTCC into holder’s brokerage accounts or
directly to the holders. All Series A, Series B, and Series C warrants have been exercised and are no longer outstanding.

Once
the Series D warrants have been fully redeemed and exercised, the fees for the Series D warrant series will likewise be distributed.
Mr. Billingsley has agreed to assume liability for paying these redemption fees and, therefore, warrant redemption fees received are
retained by the Company for operating costs. Should Mr. Billingsley be incapacitated or otherwise become unable to pay the warrant redemption
fees, the Company will remit the warrant redemption fees to former holders from amounts due to Mr. Billingsley from the Company, which
are sufficient to cover the redemption fees at December 31, 2024 and 2023.

Note
13 – Stockholders’ equity

Common
Stock

The
Company was incorporated in California in 1994 and was redomiciled as a Delaware corporation, effective September 24, 2015. There are
75,000,000 authorized shares of Common Stock at $0.0001 par value. The holders of Common Stock are entitled to one vote per share on
all matters submitted to a vote of the stockholders.

Issuer
Purchases of Equity Securities

On
August 8, 2014, the Company announced that it was initiating the repurchase of 300,000 shares of its Common Stock (approximately 2% of
the Company’s common shares outstanding at that time). As of December 31, 2023, all 300