# EDGAR Filing Document

**Accession Number:** 0001599117
**File Stem:** 0001493152-26-014585
**Filing Date:** 2026-4
**Character Count:** 5715
**Document Hash:** 16e65158aa950e897212fecd14b823ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-014585.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001493152-26-014585

**CONFORMED SUBMISSION TYPE**: NT 10-K

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**EFFECTIVENESS DATE**: 20260401

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mentor Capital, Inc.
- **CENTRAL INDEX KEY:** 0001599117
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTORS, NEC [6799]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 770395098
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NT 10-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-55323
- **FILM NUMBER:** 26827055

**BUSINESS ADDRESS:**
- **STREET 1:** 5964 CAMPUS COURT
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75093
- **BUSINESS PHONE:** (760) 788-4700

**MAIL ADDRESS:**
- **STREET 1:** 5964 CAMPUS COURT
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75093

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549** 

**FORM 12b-25**

**NOTIFICATION OF LATE FILING**

**Commission File Number: 000-55323**

(*Check one*): ☒ Form 10-K ☐ Form 20-F ☐ Form 11-K ☐ Form 10-Q ☐ Form 10-D ☐ Form N-CEN <br> ☐ Form N-CSR

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| |
|:---|
| For Period Ended: <u>December 31, 2025</u> |
| ☐ Transition Report on Form 10-K |
| ☐ Transition Report on Form 20-F |
| ☐ Transition Report on Form 11-K |
| ☐ Transition Report on Form 10-Q |
| For the Transition Period Ended: ___________________________ |

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*Read Instruction (on back page) Before Preparing Form. Please Print or Type*.<br> **Nothing in this Form shall be construed to imply that the Commission has verified any information contained herein.**

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

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**PART I — REGISTRANT INFORMATION**

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| |
|:---|
| **Mentor Capital, Inc.** |
| Full Name of Registrant |
| Former Name if Applicable |
| **5964 Campus Court** |
| Address of Principal Executive Office (Street and Number) |
| **Plano, Texas 75093** |
| City, State and Zip Code |

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**PART II — RULES 12b-25(b) AND (c)**

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;

☒ (b) The
 subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion
 thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report
 or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the
 fifth calendar day following the prescribed due date; and

(c) The
 accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

**PART III — NARRATIVE**

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

The Company's annual report on Form 10-K for the period ending December 31, 2025 could not be filed within the prescribed time period due to difficulties finalizing the materials required to complete the Company's annual audit, which could not be eliminated without unreasonable effort or expense. The Company's Annual Report on Form 10-K is expected to be filed on or before the 15<sup>th</sup> calendar day following the prescribed due date.

As disclosed in the Company's Form 8-K dated January 16, 2025, on January 12, 2026, the Company's relationship with Spicer Jeffries LLP ("Spicer Jeffries"), our former independent accountant, ceased due to the Cherry Bekaert LLP ("Cherry Bekaert") acquisition of Spicer Jeffries. Effective January 13, 2026, the Company's audit committee and board of directors approved the engagement of Cherry Bekaert as the Company's independent registered public accounting firm.

**PART IV — OTHER INFORMATION**

(1) Name
 and telephone number of person to contact in regard to this notification

<u>Chet Billingsley</u> <u>(800) </u> <u>574-6320</u> <br> (Name) (Area Code) (Telephone Number)

(2) Have
 all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment
 Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s)
 been filed? If answer is no, identify report(s). ☒ Yes ☐ No

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(3) Is
 it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be
 reflected by the earnings statements to be included in the subject report or portion thereof? ☐ Yes ☒ No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

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| |
|:---|
| **Mentor Capital, Inc.** |
| (Name of Registrant as Specified in Charter) |

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has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Date: <u>April 1, 2026</u> | By | */s/ Chet Billingsley* |
|  |  | Chet Billingsley |
|  |  | Chief Executive Officer |

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