Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1324

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 1324
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38

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

The
Company has retained the full reserve on the unpaid notes receivable balance and collections of the unpaid lease receivable balance due
to the long history of uncertain payments from G Farma and the G Farma Settlors. Payments from the G Farma Settlors will be recognized
in Other Income as they are received. No recovery payments were included in other income in the consolidated financial statements for
the periods ended December 31, 2024 and 2023. The $2,539,597 judgment and interest receivable of $375,025 for the year ended December
31, 2024, is fully reserved pending the outcome of the Company’s collection process. See Notes 1, 8, and 9.

Note
17 – Segment information

Continuing
Operations

The
Company is an operating, acquisition, and investment business. Subsidiaries in which the Company has a controlling financial
interest are consolidated. The Company generally has two reportable
segments: 1) the historic residual operations segment, which formerly included the cost basis of our former membership interests of
Electrum, the former contractual interest in the Electrum legal recovery prior to settlement and payment to the Company on or about
September 14, 2022, the settlement payments receivable from G Farma and its co-defendants in the amount of $2,539,597 plus
$375,025 at
December 31, 2024, the former finance lease payments receivable from Pueblo West to Partner II received on September 27, 2022, and
the operation of subsidiaries Mentor IP, Partner I, Partner II, and TWG, and 2) its classic energy segment which consists of the
Company’s operations and investment in the classic energy space. The classic energy segment includes the fair value of
securities investments in (i) oil and gas through Exxon Mobil Corp. (XOM) stock, Occidental Petroleum Corp. (OXY) stock, and Chevron
Corp. (CVX) stock, (ii) uranium through Cameco Corp. (CCJ) stock, (iii) coal through Arch Resources, Inc. (ARCH) stock, and (iv) energy
pipelines through Energy Transfer LP (ET) stock. The Company’s primary aim for its classic energy segment is to acquire
tangible,