Mentor Capital, Inc.

What they do

Mentor Capital, Inc. provides management consultation and headquarters functions for its majority-owned subsidiaries and monitors minority positions. Its current target industries are classic energy (oil, gas, coal, uranium) and precious metals, with gold serving as a placeholder while new energy investments are arranged. The company holds fractional, non-operating royalty interests in oil and gas properties in the Permian Basin and has residual investments in dispute resolution services and annuity-like financings.

Revenue drivers

• Oil and gas royalty interests — Acquired in March 2025 three fractional, non-operating royalty interests covering ~121 wells in the Spraberry Field, Permian Basin, West Texas, for total consideration of $1,369,899. These interests generate royalty payments recognized from March-April 2025.
• Gold and precious metals investments — The company has progressively shifted to emphasize gold investment for profit, including bullion, securities, and futures, as a more profitable approach.
• Residual investments and collections — Includes investments in legal dispute resolution services, an annuity-like financing, and collection of a judgment, which provide additional, though smaller, revenue streams.

Recent performance

For FY2025, revenue was $166,811 with a net loss of $574,119 and diluted EPS of -$0.026. Operating cash flow was -$497,071. In the most recent quarter ended June 30, 2026, revenue was $65,595, the highest quarterly figure in the reported period, up from $40,430 in the quarter ended September 30, 2025. As of June 30, 2026, the company had total assets of $2.5M, including cash of $47,693, total liabilities of $573,794, and shareholder equity of $1.9M.

Strategy

Management plans to emphasize classic energy sectors (oil, gas, coal, uranium) and related ventures, with gold investment as a placeholder while new energy positions are arranged. The company has begun to shift toward precious metals-oriented trading for profit, including bullion, securities, and futures. It continues to pursue collection of a judgment and other residual investments. The company is opportunistic, maintaining diverse operating and investment activities.

Risks

• Auditor transition and reaudit costs — The dismissal of former auditor BF Borgers and transition to Spicer Jeffries, followed by its purchase by Cherry Bekaert, may cause material expenses, delays in financing or SEC filings, and affect stock price and access to capital markets.
• Energy sector volatility — The company's target industries (oil, gas, coal, uranium) are subject to price declines, as evidenced by a previous energy sector decline that led to a shift toward gold.
• Warrant dilution — The company has outstanding Series D warrants exercisable at $0.02 per share; if the stock price stays above $0.02, holders may exercise, leading to significant dilution.
• Limited revenue and cash position — Annual revenue is under $200,000 and cash is less than $50,000, which may restrict operations and investment capacity.

Outlook

Management is focused on expanding its energy investments, with gold providing a placeholder and a profitable alternative. It plans to continue pursuing new energy opportunities and potentially shift more aggressively into precious metals trading. The company also intends to pursue collection of a judgment and other residual investments. No specific forward-looking guidance is provided in the filings.