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Mentor Capital Inc. (MNTR+8.61%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that Mentor Capital Inc. sold its 51% ownership interest in Waste Consolidators Inc. on October 4, 2023, for $6,000,000. This sale resulted in the elimination of its facilities operations segment, which is now reported as a discontinued operation.
Mentor Capital's remaining operations are focused on investments in the classic energy sector, including oil, gas, coal, uranium, and related markets. The company holds investments in several New York Stock Exchange-listed energy companies.
The company reported a net loss of $839,505 for the year ended December 31, 2024, compared to a net income of $3,157,658 in the previous year. The loss is attributed to the absence of the gain from the sale of the discontinued operation recognized in 2023.
Mentor Capital's selling, general, and administrative expenses decreased by 56.05% to $780,212 in 2024, primarily due to decreases in officer accrued benefits and salaries.
The company has a judgment against G FarmaLabs Limited and its affiliates for $2,539,597, which remains fully reserved due to uncertain payment history.
Mentor Capital's future plans include raising additional capital to fund acquisitions and investments, with a focus on generating positive cash flow from its operations.
The company has no current plans to declare or pay cash dividends on its common stock.
Mentor Capital's management continues to evaluate potential acquisition candidates and investment opportunities, focusing on expanding its portfolio in the energy sector.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Mentor Capital Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.