Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 344

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 344
---

    $-(2)
  
    TOTAL 
     3,000,000  
    $0.060  
     3,000,000  
     -(1) 
    $-(2)

(1)
Under the Board-approved repurchase plan, the Company was authorized to repurchase up to 3,000,000 shares of the Company’s common
stock. At December 31, 2024, a total of 0 of the Company’s common shares remained to be repurchased under the plan.

(2)
Under the Board-approved repurchase plan, the Company was authorized to spend up to $200,000 on the repurchase of the Company’s
common stock. At December 31, 2024, the Company spent $183,993 on the repurchase of the Company’s common stock under the plan.

Equity
Compensation Plan

Mentor
does not currently have an equity compensation plan in place and does not intend to create such a plan in the near future.

Recent
Sales of Unregistered Securities

On
December 14, 2023, our Chief Executive Officer, Chet Billingsley, exercised 2,000,000 Series D warrants at $0.02 per share. Mr. Billingsley
paid the Company $40,000 in cash. This increased Mr. Billingsley’s share ownership by 2,000,000 common shares, increased the Company’s
outstanding shares of common stock to 24,686,105, and decreased the Company’s outstanding Series D warrants to 4,250,000.

On
January 11, 2022, our Chief Executive Officer, Chet Billingsley, exercised 87,456 Series B warrants and 2,954 Series D warrants at $0.11
per share and $1.60 per share, respectively. Mr. Billingsley paid the Company $14,347 in cash.

15

The
sale of 2,000,000 and 90,410 shares of common stock through the exercise of Series B and Series D warrants were made in reliance on 11
U.S.C. § 1145 and Section 3(a)(7) of the Securities Act of 1933, as amended.

Other
than as stated above, there have been no other unregistered securities sold within the past three years.

Item
6. [Reserved]

Item
7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.