Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1737

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 15
Chunk 1737
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Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

Property,
plant, and equipment disclosures

Property
and equipment for our discontinued operation were comprised of the following:

 Schedule of property, plant and equipment

    October 4, 2023 (1) 
  
    Computers 
    $- 
  
    Furniture and fixtures 
     12,761 
  
    Machinery and vehicles 
     380,077 
  
    Gross Property and equipment 
     392,838 
  
    Accumulated depreciation and amortization 
     (213,165)

    Net Property and equipment 
    $179,673 

    (1)
    Effective
    on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023.

    F-22

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

Prior
to the October 4, 2023 sale date, on September 30, 2023, depreciation and amortization expenses was $49,260. Of these amounts, depreciation
on our discontinued operation’s vehicles used to service customer accounts included in the cost of goods sold and was $16,325.
All other depreciation was associated with our discontinued operation’s selling, general, and administrative expenses.

Lessee
Leases disclosures

Our
discontinued operation’s operating leases were comprised of office space and office equipment leases. Fleet and vehicle leases
were entered into prior to January 1, 2019, and under ASC 840 guidelines, they had 4-year terms and were classified as operating leases.
Fleet leases entered into beginning January 1, 2019, under ASC 842 guidelines, were expected to be extended to 5-year terms and are classified
as finance leases.

Prior
to the October 4, 2023 sale date, on September 30, 2023, gross right of use assets recorded under finance leases related to our discontinued
operation’s vehicle fleet leases were $2,272,984 and accumulated amortization associated with our discontinued operation’s
finance leases was $712,227.

Our
discontinued operation’s lease costs were as follows:

 Schedule of lease costs recognized in consolidated statements of operations

    October 4,  2023 (1) 
  
    Operating lease cost included in cost of