Company: MNTR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021833
Chunk: 29

Company: Mentor Capital, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 29
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, initial public offering, ceases operations, or enters
into a general assignment for the benefit of its creditors prior to conversion, termination, or expiration of the SAFE, the Company will
receive the greater of (a) a cash payment equal to the Purchase Amount and (b) the value of the shares issuable on Default Conversion.

On
July 22, 2022, the Company sold $989 of the SAFE Purchase Amount to a third party. On August 1, 2022, the Company sold an additional
$1,285 of the SAFE Purchase Amount to a third party, thereby reducing the aggregate outstanding SAFE Purchase Amount to $83,756.

On
January 20, 2023, the Company and NeuCourt entered into a SAFE Purchase Agreement by which the Company invested an additional $10,000
in the form of a NeuCourt Simple Agreement for Future Equity under the same terms as the previous July 15, 2022 SAFE Purchase Agreement
between NeuCourt and the Company, increasing the aggregate SAFE Purchase Amount to $93,756. At September 30, 2025 and December 31, 2024,
the SAFE Purchase Amount was $93,756.

Note
8 – Finance leases receivable

Net
finance leases receivable from G Farma payable to Mentor Partner I, LLC (“Partner I”) remain fully impaired at September
30, 2025 and December 31, 2024. At September 30, 2025 and December 31, 2024, Partner I recognized no finance lease revenue. See Note
16.

Net
finance leases receivable, non-performing, consist of the following at September 30, 2025 and December 31, 2024:

 Schedule of net finance leases receivable, non-performing 

    September 30,  2025  
    December 31, 2024 
  
    Gross minimum lease payments receivable 
    $1,203,404  
    $1,203,404 
  
    Accrued interest 
     -  
     - 
  
    Less: unearned interest 
     (400,005) 
     (400,005)
  
    Less: reserve for bad debt 
     (803,399) 
     (803,399)
  
    Finance leases receivable 
    $-  
    $- 

Note
9 – Interest in oil and gas royalties

In
March