Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 34

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 34
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     - 
  
    Outstanding at March 31, 2025 
     4,250,000 

    -24-

Note 11 - Common stock warrants (continued)

Series E, F, G, and H warrants were issued for investment
banking and advisory services during 2009. Series E, F, and G warrants were exercised in 2014. As of March 31, 2025, there were 413,512
Series H ($7) Warrants outstanding. The following table summarizes Series H ($7) warrants as of each period:

    Series H $7.00 exercise price 
  
    Outstanding at December 31, 2023 
     413,512 
  
    Issued 
     - 
  
    Canceled 
     - 
  
    Exercised 
     - 
  
    Outstanding at December 31, 2024 
     413,512 
  
    Outstanding  balance 
     413,512 

    Issued 
     - 

    Exercised 
     - 
  
    Outstanding at March 31, 2025 
     413,512 
  
    Outstanding balance 
     413,512 

On February 9, 2015, in accordance with Section 1145
of the United States Bankruptcy Code and the Company’s Third Amended Plan of Reorganization, the Company announced a minimum 30-day
partial redemption of up to 1% of the already outstanding Series D warrants to provide for the court specified redemption mechanism for
warrants not exercised timely by the original holder or their estates. Company designees that applied during the 30 days paid 10 cents
per warrant to redeem the warrant and then exercised the Series D warrant to purchase a share of the Company’s Common Stock at the
court-specified formula of not more than one-half of the closing bid price on the day preceding the 30-day exercise period. In successive
months, the authorized partial warrant redemption amount was recalculated, and the redemption offer repeated according to the court formula.
In the Company’s October 7, 2016 press release, Mentor stated that the 1% redemptions which were formerly priced on a calendar month
schedule would subsequently be initiated and priced on a random date schedule after the prior 1% redemption was completed to prevent potential
third-party manipulation of share prices at month-end. The periodic partial redemptions could continue to be recalculated and