Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 8

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 8
---
 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 the maturity dates of the convertible notes. On July 15, 2022, all principal and accrued interest
on the notes were converted into a Simple Agreement for Future Equity (“SAFE”). At March 31, 2025, the SAFE Purchase Amount
is $93,756. See Note 7.

On December 21, 2018, Mentor paid $10,000 to purchase
500,000 shares of NeuCourt common stock, representing approximately 6.13% of NeuCourt’s issued and outstanding common stock at March
31, 2025.

The Company held an interest in a facilities operations
company, Waste Consolidators Inc. (“WCI”) until October 2023. 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. See Note 3.

The Company maintains a diverse and opportunistic
acquisition focus. After it sold its former legacy investment in WCI it continued looking to expand into the classic energy markets of
oil, gas, coal, uranium, and related businesses. The Company signaled a substantial return to its energy roots, starting with a tracking
investment in six New York Stock Exchange energy companies in the oil and gas, coal, uranium, and pipeline markets. In March 2025, the
Company acquired three fractional, non-operating royalty interests in oil and gas properties covering approximately one-hundred twenty-one
(121) wells in the Spraberry Field of the Permian Basin in West Texas, through related public auctions for total consideration of $1,369,899.
The royalty interests entitle the Company to receive a proportional share of revenues generated from the production of hydrocarbons from
the underlying property, without incurring