Mentor Capital Reports $839,505 Net Loss for Fiscal Year Ending December 31, 2024

Mentor Capital, Inc. reported a net loss of $839,505 for the fiscal year ending December 31, 2024, translating to a loss of $0.036 per share. This marks a significant decline from the previous year, where the company posted a net gain of $3,157,658, or $0.137 per share. The company's revenue remained stagnant at $0 for both years, reflecting the impact of its strategic decision to divest from its facilities operations segment, Waste Consolidators, Inc. (WCI), which was sold on October 4, 2023, for $6 million. The sale resulted in the elimination of the facilities operations segment from the company's financials, and the associated income is now classified as a discontinued operation.

In terms of operational changes, Mentor Capital has shifted its focus back to the energy sector, particularly oil, gas, coal, and uranium markets. The company has begun tracking investments in six New York Stock Exchange-listed energy companies, which now represent approximately 68.16% of its market capitalization as of December 31, 2024. The divestiture of WCI has provided the company with capital to pursue new business opportunities in these classic energy markets. Additionally, the company has restructured its management, relying heavily on external professional support, with only two full-time corporate employees remaining.

Mentor Capital's selling, general, and administrative expenses decreased significantly to $780,212 in 2024 from $1,775,210 in 2023, a reduction of 56.05%. This decrease was attributed to lower accrued benefits and salary expenses, reflecting the company's efforts to streamline operations following the divestiture. Other income and expenses also saw a notable decline, totaling a net loss of $43,964 in 2024 compared to a gain of $4,863,129 in 2023, primarily due to the absence of the one-time gain from the sale of WCI.

As of December 31, 2024, Mentor Capital reported cash reserves of $2,182,121 and working capital of $3,263,848, indicating a stable liquidity position. The company anticipates that its current cash resources will be sufficient to support its business plans for the next four years. Looking ahead, Mentor Capital aims to raise additional capital through equity and debt financing to support its growth strategy, which includes potential acquisitions in the energy sector. The company remains focused on identifying investment opportunities that align with its strategic objectives, despite the challenges posed by market conditions and competition in the energy investment landscape.