Fri, Jun 14, 7:32 PM (85 days ago)
Mentor Capital, Inc. reported a net loss of $208,006 for Q1 2024, compared to a net loss of $49,412 in Q1 2023. The company had no revenue or gross profit in either period due to the sale of its facilities operations segment, Waste Consolidators, Inc., for $6 million in October 2023. Selling, general, and administrative expenses rose to $271,263 from $171,441, driven by increases in professional fees and salaries. Other income and expense netted $78,586, up from $3,863, primarily due to higher interest income and unrealized investment gains. Cash and cash equivalents stood at $2.23 million, with working capital of $3.81 million. The company faces risks related to economic uncertainties, potential difficulties in securing additional financing, and the need to replace its auditor following regulatory actions against BF Borgers CPA PC.