Mentor Capital, Inc. (OTCQB: MNTR) appear that it has filed its anniversary 10-K filing for the year concluded December 31, 2017 with the SEC.
The Aggregation letters that for the year concluded December 31, 2017, Mentor had revenues of $3,182,700 and gross accumulation of $1,107,045 with a consistent net accident of ($753,895) or (3.4 cents) per share. This is an advance from the year concluded December 31, 2016, in which Mentor had revenues of $2,761,245 and gross accumulation of $976,085 with a consistent net accident of ($858,113) or (4.8 cents) per share.
The Mentor Capital, Inc. ancestor aggregation has no non-affiliate debt, and aloft $2,972,705 during the year concluded December 31, 2017, beneath the ascendancy of an 11 USC § 1145 adjustment and $91,154 from accreditation accretion fees at $0.10 per accreditation from designees redeeming unexercised warrants that accept been alleged but were not acclimatized timely. The Aggregation invested $2,811,903 into cannabis-related companies during the year, and the Aggregation maintained a antithesis of banknote of $1,148,726 at December 31, 2017, compared to $1,311,338 at December 31, 2016. The Aggregation bankrupt the year concluded December 31, 2017, with a book bulk of $6,346,613 up from $4,051,629 at the end of 2016.
Mentor Capital, Inc. had about 12,000 shareholders appear as of December 31, 2017, with 22,814,283 shares issued. There were 6,666,007 Series D warrants outstanding at the December 31, 2017, anniversary at a bang bulk of $1.60 per share, and 689,159 Series H warrants that are captivated by an advance coffer at a $7.00 per allotment exercise price. During 2017, Mentor paid for a acknowledged absorption in a acknowledged accretion through the arising of 288,890 shares of unregistered accepted banal admired at $600,002. No disinterestedness was accepted to directors, insiders, consultants or broker relations firms in 2017. A abiding 300,000 allotment repurchase plan was accustomed in 2014, and at December 31, 2017, a absolute of 44,748 shares accept been repurchased beneath the abiding plan. The Company’s shares accomplished the year at a closing bulk of $2.29 per allotment apery a bazaar assets of $52,244,708 compared to a 2016 year catastrophe closing bulk of $1.06 per allotment and a agnate bazaar assets of $22,239,341. As of March 29, 2018, the closing bulk of the Company’s shares was $1.02 with a agnate bazaar assets of about $23,538,000.
The Aggregation is managed by CEO, Chet Billingsley, (65) who founded Mentor Basic aboriginal as an accretion affiliation in 1985. He was able as a Registered Banking Advisor and accustomed his undergraduate apprenticeship at West Point afore accepting a Master’s Degree in Applied Physics at Harvard University. CFO, Lori Stansfield, CPA (58) was best afresh Director of Audit Casework for a bounded CPA firm. She accelerating Magna cum Laude in accounting and accustomed a Master’s Degree from the University of Colorado. Ms. Stansfield is certified as a accessible accountant in both Colorado and California. Each of the three absolute directors, Robert Meyer (78), Stan Shaul (53) and David Carlile (62), is or has been a business buyer and above shareholder. Altogether, the admiral and admiral authority a 27.00% absorption in Mentor Basic with Mr. Billingsley’s absorption is appear at 20.63% as of March 15, 2018.
In consecutive events, from January 1, 2018, through March 15, 2018, the Aggregation aloft $607,098 from the exercise of warrants into Accepted Banal and $56,490 from accreditation accretion fees at $0.10 per accreditation from designees redeeming unexercised warrants that accept been alleged but were not acclimatized timely.
On January 8, 2018, the Aggregation deposited the third anniversary acquittal of $117,000 of twelve anniversary payments from TWG, LLC.
In January 2018, Brighter Day Health, Mentor Capital’s aftermost absolute blight accompanying investment, was sold, consistent in a 227% accretion for Mentor and a $109,000 net drop on March 19, 2018, that will be accessible for approaching cannabis investment.
On January 17, 2018, the Aggregation entered into Addendum VI with G FarmaLabs Limited, in which Mentor invested an added $100,000 in G FarmaLabs by accretion the accumulated arch face bulk of the absolute acreage and alive basic addendum to G Farma to $1,000,000. This arrangement after-effects in account payments of $11,743 alpha March 15, 2018. The ability date of April 15, 2022, charcoal the aforementioned with about $798,324 due at maturity.
On January 23, 2018, the Aggregation accustomed a net acquittal of $1,758,949 in achievement of the Company’s acumen adjoin Bhang Corporation and 117,000 shares of Mentor accepted stock, originally awash to two Bhang founders, were alternate to Mentor in barter for a acquittal of $286,719, which was account from the accrued acumen to Mentor of $2,045,668.
On December 21, 2017, the plaintiffs in a complaint accomplished by the wife and babe of Bhang’s accumulated counsel, accompanying to 75,000 shares of Mentor’s Accepted Banal purchased from Bhang Corporation’s CEO in a accessory sale, filed a motion to aish their own complaint with prejudice. The motion to aish in Mentor’s favor was accepted on January 25, 2018. Aural the aforementioned order, the Court alone an beforehand adjustment anachronous September 25, 2017, accompanying to the arising of Mentor’s stock.
In January and February 2018, Mentor contributed $800,000 in basic to its wholly endemic subsidiary, Mentor Accomplice I, LLC to facilitate the acquirement of accomplishment accessories to be busy from Mentor Accomplice I to G FarmaLabs Bound beneath a Master Accessories Lease Agreement for $17,340 per ages anachronous January 16, 2018.
On February 1, 2018, the Aggregation formed Mentor Accomplice II, LLC, a California bound accountability aggregation as a wholly endemic accessory of Mentor for the purpose of cannabis-focused accretion and investing. On February 8, 2018, Mentor contributed $400,000 to Mentor Accomplice II to facilitate the acquirement of accomplishment accessories to be busy from Mentor Accomplice II by Pueblo West Organics, LLC beneath a Master Accessories Lease Agreement for $7,752 per ages anachronous February 11, 2018.
Mentor Capital, Inc.’s Form 10-K includes December 31, 2017 audited financials and can be referenced through the SEC’s EDGAR arrangement at:
Inputting the aggregation name, Mentor Capital, Inc. or the Company’s CIK cipher which is 0001599117, will accompany up the report. The 10-K can additionally be beheld at the Company’s website at the Investor’s Corner area beneath the SEC Filings tab.
About Mentor Capital:
The Aggregation seeks to appear alongside and abetment clandestine medical marijuana and cannabis companies and their founders in affair their clamminess and banking objectives, to add aegis for investors and to advice bear beyond clandestine cannabis companies. Added important advice for investors is presented at:
This columnist absolution is neither an action to advertise nor a address of offers to acquirement securities.
Forward-Looking Statements: This columnist absolution contains advanced statements aural the acceptation of the federal balance laws, including statements apropos banking projections, costs activities, accumulated combinations, artefact development activities and sales and licensing activities. Such advanced statements are not guarantees of approaching after-effects or performance, are sometimes articular by words of action such as “should,” “could,” “expects,” “may,” “intends,” “seeks,” “looks,” “moves,” or “plans” and are accountable to a cardinal of risks and uncertainties, accepted and unknown, that could account absolute after-effects to alter materially from those advised or anticipated. Such risks include, afterwards limitation: abortion of investments, accomplice and portfolio difficulties, abeyant delays in business and sales, problems accepting the all-important costs to abide operations, problems involving connected abomination of cannabis products, abeyant of aggressive products, services, and technologies, difficulties accomplished in artefact development, in recruiting a cadre and in attention bookish property. Further advice apropos these, and added risks is included in the Company’s Form 10-K filing which, forth with added actual important advice about the Company, can be begin here:
The Aggregation undertakes no obligation to amend or alter such advanced statements to reflect new information, contest or affairs occurring afterwards the date of this columnist release.
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