Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1511

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 12
Chunk 1511
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-09 is effective for annual periods beginning after December
15, 2024. Early adoption is permitted. The adoption of ASU 2023-09 is not expected to have a material impact on the Company’s consolidated
financial statements.

Income
Statement—Reporting Comprehensive Income - Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses
- In November 2024, the FASB issued ASU 2024-03 “Income Statement: Reporting Comprehensive Income-Expense Disaggregation Disclosures
(Subtopic 220-40)” which adds ASC 220-40 to expand disclosure requirements related to entity expenses. Upon adoption, entities
will be required to disclose a disaggregation of certain expense categories included within the expense captions on the face of the income
statement within the notes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026,
and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The adoption of ASU 2024-03 is
not expected to have a material impact on the Company’s consolidated financial statements.

Concentrations
of cash

The
Company maintains its cash and cash equivalents money market and bank deposit accounts, which at times may exceed federally insured Federal
Deposit Insurance Corporation limits. The Company has not experienced any losses in such accounts, nor does the Company believe it is
exposed to any significant credit risk on cash and cash equivalents. The Company will continue to monitor its accounts and the banking
sector for potential financial institution risk.

Cash
and cash equivalents

The
Company considers all short-term debt securities purchased with a maturity of three months or less to be cash equivalents. The Company
had no short-term debt securities as of December 31, 2024 and 2023.

    F-10

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

Accounts
receivable

Accounts
receivables consist of trade accounts arising in the normal course of business and are classified as current assets and carried at original
invoice amounts less an estimate for doubtful receivables based on historical losses as a percent of revenue in conjunction with a review
of outstanding balances on a quarterly basis. The estimate of allowance for doubtful accounts is based on the Company’s bad debt
experience, market conditions, and aging of accounts receivable, among other factors. If the financial condition