Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 588

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 588
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 financial statements for external purposes in accordance with GAAP. The Company’s internal control over financial reporting
includes those policies and procedures that:

●
Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of
the assets of the Company;

●
Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance
with GAAP and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors
of the Company; and

●
Provide reasonable assurance regarding the prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s
assets that could have a material effect on the financial statements.

30

Because
of its inherent limitation, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any
evaluation of effectiveness in future periods are subject to the risk that controls may become inadequate because of changes in conditions
or that the degree of compliance with the policies or procedures may deteriorate.

Management,
with the participation of our chief executive officer and principal financial officer, conducted an evaluation of the effectiveness of
the Company’s internal control over financial reporting required by Section 404 of the Sarbanes-Oxley Act of 2002 based on the
framework set forth in the Internal Control–Integrated Framework (2013) issued by the Committee of Sponsoring Organizations
of the Treadway Commission. Based on this evaluation, management concluded that our internal control over financial reporting was effective
as of December 31, 2024.

Item
9B. Other Information.

None

Item
9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.

Not
applicable.

PART
III

Item
10. Directors, Executive Officers, and Corporate Governance.

Our
executive officers and directors, and their respective ages as of December 31, 2024, are as follows:

    Name
     
    Age
     
    Position
  
    Chet
    Billingsley
     
    72
     
    President
    and Chief Executive Officer, Principal Financial Officer, and Chairman of the Board of Directors
  
    Lori
    Stansfield
     
    65
     
    Treasurer,
    Director, and Audit Committee Chair

Chet
Billingsley has been our Chief Executive Officer since 1994 and founded the private company, which was the predecessor of the Company,
in 1985. On May