Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 21

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 21
---
 securities that are not anti-dilutive.

Outstanding warrants that had no effect on the computation
of the dilutive weighted average number of shares outstanding as their effect would be anti-dilutive were approximately 4,250,000 and
4,250,000 as of March 31, 2025 and December 31, 2024, respectively. There were no potentially dilutive shares outstanding at March 31,
2025 and December 31, 2024.

Conversion of Series Q Preferred Stock into Common
Stock would be anti-dilutive for the three months ended March 31, 2025 and 2024 and is not included in calculating the diluted weighted
average number of shares outstanding.

Note 3 – Discontinued operation

In 2003,
the Company purchased a 50%
interest in Waste Consolidators, Inc., a facilities operation company that comprised our facilities operation segment (“WCI”)
and increased its ownership stake in WCI by 1%
in 2014. Since January 1, 2014, our controlling interest investment in WCI included a facilities operations segment, which provides waste
management and disposal services to business park owners, governmental centers, and apartment complexes in Phoenix, Austin, San Antonio,
Houston, and Dallas. On October 4, 2023, the Company sold the entirety of its interest in WCI for $6,000,000 by entering into a Stock
Purchase Agreement whereby the shareholders of WCI sold all of the outstanding shares of stock to Ally Waste Services, LLC.

In connection with the sale, the Company received
net, after WCI debt payoff, $5,000,000 in cash and a one-year unsecured, subordinated, promissory note in the initial principal face amount
of $1,000,000. The $1,000,000 initial principal face amount of the note plus accrued interest of $60,000 was paid by Ally on October 4,
2024.

At December 31, 2023 we recognized a $4,805,389 gain
on our sale of WCI. See Note 3 in the Company’s Annual Report for the period ended December 31, 2023 on Form 10-K as filed with
the Securities and Exchange Commission on April 1, 2024 for further discussion regarding the Company’s former interest in WCI.

Goodwill

Effective October 4, 2023, on the date of the sale
of WCI, we met