Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 76

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 2
Chunk 76
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 is developing a technology that is expected to be useful to the dispute resolution industry.

On July 15, 2022, the Company and NeuCourt entered
into an Exchange Agreement whereby the Company’s outstanding convertible promissory notes and accrued interest, in an aggregate
net amount of $83,756, was exchanged for a Simple Agreement for Future Equity (“SAFE”) in equal face value. On January 20,
2023, the Company and NeuCourt entered into a SAFE Purchase Agreement, increasing the Company’s aggregate SAFE Purchase Amount to
$93,756. At March 31, 2025 and December 31, 2024, the SAFE Purchase Amount was $93,756.

On December 21, 2018, the Company purchased 500,000
shares of NeuCourt Common Stock, approximately 6.13% of the issued and outstanding NeuCourt shares at March 31, 2025.

G FarmaLabs Limited

On August 27, 2021, the Company and Mentor Partner
I entered into a Settlement Agreement and Mutual Release with G FarmaLabs Limited, its affiliated entities, and guarantors (“G Farma
Settlors”) to resolve and settle all outstanding claims on an unpaid finance lease receivable and notes receivable of balances of
$803,399 and $1,045,051, respectively, plus accrued interest (“Settlement Agreement”). On October 12, 2021, the parties filed
a Stipulation for Dismissal and Continued Jurisdiction with the Superior Court of California in the County of Marin. The Court ordered
that it retain jurisdiction over the parties under Section 664.6 of the California Code of Civil Procedure to enforce the Settlement Agreement
until the performance in full of its terms is met.

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In August 2022, September 2022, and October 2022,
the G Farma Settlors failed to make monthly payments and failed to cure each default within 10 days’ notice from the Company pursuant
to the Settlement Agreement. As a result, $2,000,000 was added to the amount payable by the G Farma Settlors in accordance with the terms
of the Settlement Agreement. The Company and Partner I sought entry of a stipulated judgment against the G Farma Settlors for (1) $494,450,
the remaining amount of the $500,000 settlement amount, which has not yet been paid by the G Farma Settlors plus $