Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 8

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 8
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(“Partner II”), and TWG, LLC (“TWG”), are headquartered in Plano, Texas.

MCIP held patent and licensing rights which
were divested on October 24, 2023. No capitalized assets related to MCIP are recognized on the consolidated financial statements at
June 30, 2025 and December 31, 2024.

On August 27, 2021, the Company and
Mentor Partner I entered into a Settlement Agreement and Mutual Release with the G Farma 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”). As of October 2022, the G Farma Settlors failed to make
two monthly payments and failed to cure each default 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. On July 11, 2023,
the Court entered judgment against the G Farma Settlors and in favor of Mentor and Partner I in the amount of $2,539,597.
The judgment also accrues post-judgment interest at the rate of 10%
from July 11, 2023 until such time as the judgment is paid in full. The $2,539,597 judgment
and interest receivable of $500,962 for
the six months ended June 30, 2025 is fully reserved pending the outcome of the Company’s collection process. See Notes 8 and
16.

    -10-

On
November 22, 2017 and October 31, 2018, the Company purchased convertible notes in principal face value of $50,000
and $25,000,
respectively, from NeuCourt, Inc. (“NeuCourt”) that each bore interest at 5%
per annum. On November 7, 2019, October 28, 2020, and January 4, 2022, the Company received 25,000,
52,000,
and 27,630
warrants covering an aggregate of 105,130
shares of NeuCourt common stock exercisable at $0.02
per share in exchange for the Company’s agreement to
extend