Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1021

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 1021
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 they are received. We will continue to pursue collection from
the G Farma Settlors over time. No recovery payments have been received since October 11, 2022. The $2,539,597 judgment and interest
receivable of $375,025 for the twelve months ended December 31, 2024 is fully reserved pending the outcome of the Company’s collection
process. See Notes 8, 9, and 16.

On
December 21, 2018, Mentor paid $10,000 to purchase 500,000 shares of NeuCourt, Inc. (“NeuCourt”) common stock, representing
approximately 6.13% of NeuCourt’s issued and outstanding common stock at December 31, 2024.

Since
2003, the Company has held an interest in a facilities operations company, Waste Consolidators Inc. (“WCI”). The Company
purchased a 50% interest in WCI in 2003 and increased its ownership stake by 1% in 2014. On October 4, 2023, the Company sold the entirety
of its ownership interest in WCI for $6,000,000. Following the sale, the Company received no new income from WCI and had no further involvement
or continuing influence over its operations. As a result of this sale, our facilities operations segment was eliminated, and its results
of operations, assets, and liabilities were excluded from our continuing operations. Therefore, WCI is presented as a discontinued operation
in our consolidated financial statements. See Note 3.

Note
2 - Summary of significant accounting policies

Basis
of presentation

The
accompanying consolidated financial statements and related notes include the activity of subsidiaries in which a controlling financial
interest is owned. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted
in the United States of America (“GAAP”).

    F-8

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

Significant
intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to
conform with the current period presentation.

As
shown in the accompanying financial statements, the Company has an accumulated deficit of ($9,027,312) as of December 31, 2024. The Company
has recently received significant profit on the sale of its former majority owned subsidiary, although negative cash flows from