Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 422

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 422
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 $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
October 4, 2023, in connection with the sale of the Company’s ownership interest in WCI, the Company received a one-year unsecured,
subordinated, promissory note in an initial principal face amount of $1,000,000 from Ally Waste Services, LLC (“Ally”) at
6% per annum.

On
the note maturity date, October 4, 2024, the Company received full payment of the one-year promissory note from Ally. The payment consisted
of the payment of the $1,000,000 initial principal face amount of the note plus accrued interest of $60,000.

At
December 31,