Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 6

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 6
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’s common stock trades publicly under
the trading symbol OTCQB: MNTR.

The Company’s current target industry focus
includes the classic energy sectors of oil, gas, coal, uranium, and related ventures. Additionally, the Company has residual investments
in legal dispute resolution services, collecting on an annuity-like financing, and the collection of a judgment that it intends to continue
to pursue.

Mentor’s 100% owned subsidiaries, Mentor IP,
LLC (“MCIP”), Mentor Partner I, LLC, (“Partner I”), Mentor Partner II, LLC (“Partner II”), and TWG,
LLC (“TWG”), are headquartered in Plano, Texas.

MCIP held intellectual property and licensing rights
related to one United States and one Canadian patent. On October 24, 2023, MCIP divested its intellectual property and licensing rights
related to the United States and Canadian patents. National phase maintenance fees and secretary of state fees were expensed when paid,
and no capitalized assets related to MCIP are recognized on the consolidated financial statements at March 31, 2025 and December 31, 2024,
as the divestment activity had been limited to secretary of state and registered agent fees.

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”). 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.

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