Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 87

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 87
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 At June 30,
2025 we had cash and cash equivalents of $713,424 and working capital of $1,509,018.

Operating cash outflows in the six months ended
June 30, 2025 was ($338,147), including ($421,420) of net income, increased by non-cash depreciation and amortization of $170, and non-cash
accumulated amortization of royalty interests of $34,756, increased by loss on investments at fair value of $157,353, offset by unrealized
gain on an investment position in gold at fair value of ($24,040), royalty income receivable of ($77,000), prepaid expenses and other
assets of ($5,862), accounts payable of $3,936, accrued expenses of ($7,603), and accrued salary, retirement and benefits to related party
of $1,563.

Cash
outflows from investing activities in the six months ended June 30, 2025 were ($1,130,550) which included $835,209 proceeds from investment
in securities sold, offset by ($300,532) purchase of investment securities, ($295,328) purchase of a gold position, and ($1,369,899)
purchase of three separate royalty interests in the Permian Basin.

-37-

Net
cash outflows from financing activities for the six months ended June 30, 2025 were $0.

We will seek to raise additional funds through
gold-backed preferred share sales, general debt financing, additional collaborative relationships, and other arrangements to increase
revenues to support positive cash flow.

In
addition, on February 9, 2015, in accordance with Section 1145 of the United States Bankruptcy Code and the Company’s court-approved
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 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. The periodic partial redemptions may continue to be recalculated and repeated until such unexercised warrants are exhausted or
the partial redemption is otherwise temporarily paused, suspended