Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1561

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 12
Chunk 1561
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 Statements

December
31, 2024 and 2023

The
significant components of deferred income tax assets as of December 31, 2024 and 2023 after applying enacted corporate income tax rates
are as follows:

 Schedule of deferred tax assets

    2024  
    2023 
  
    Net Operating Losses carried forward from continuing operations 
    $1,957,000   
    $1,913,000 
  
    Capital Losses carried forward 
     -   
     156,600 
  
    Deferred - Other 
     54,000   
     - 
  
    Valuation allowance 
     (2,011,000 ) 
     (2,069,600)
  
    Deferred tax assets 
    $-   
    $- 

The
Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. All tax years from 2020
to 2023 are subject to examination.

Note
19 – Subsequent events

Management evaluated subsequent events through the date these financial statements were issued and concluded that
no events subsequent to December 31, 2024 have occurred that would require recognition or disclosure, except as noted below.

Subsequent to year-end, on March 17, 2025, Mentor
Capital, Inc. purchased 3 (three) kilograms of gold bullion for $295,328.

Subsequent to year-end, on March 20, 2025, Mentor
Capital, Inc. purchased oil and gas royalty interests in seven (7) horizontal wells and a royalty interest of approximately 0.15625%
in two (2) producing mineral wells located in the Permian Basin situated in Howard County, Texas from Bluestem Royalty Partners, LP, a
Texas limited partnership, for $60,800.

Subsequent to year-end, on March 25, 2025, Mentor
Capital, Inc. purchased an overriding royalty interest of approximately 0.06%
in seventy-one (71) producing oil and gas wells in a nearly 3.5 square mile pooled horizontal drilling project located in the
Permian Basin situated in Martin County, Texas from Gatorex Holdings, LLC, a Texas limited liability company, for $720,000.

Subsequent to year-end, on March 27, 2025, Mentor Capital, Inc. purchased royalty interests from Maven Royalty 2, LP, a Delaware limited
partners