Mentor Capital, Inc. (OTC Markets: MNTR) announced its third quarter
consolidated financial results in conjunction with its Form 10 filing
which included 2013 and 2012 audited financial reports. The complete
financial filing can be viewed at the company’s web site, at www.sec.gov
and at the company’s Filings and Disclosure page at the OTCMarkets.com
website under the Mentor Capital ticker (MNTR).
On an unaudited basis the company, as of September 30, 2014, reports
that it holds $553,467 in cash, which is an increase from $40,184 held
on December 31, 2013. As of September 30, 2014, the company had
$2,664,141 in current assets which is an increase from $403,912 at 2013
year end. Consolidated total assets were $5,538,768 on September 30,
2014 which is an increase from $1,690,155 on December 31, 2013.
Non-affiliate liabilities total $151,980 on September 30, 2013 compared
to $27,366 on December 31, 2013. Common equity is $3,997,543 on
September 30, 2014 which is an increase from the deficit of ($293,869)
at December 31, 2013. The 2014 first nine month revenues were $1,546,128
compared to $24,000 for the first nine months of 2013. The company had a
gross profit of $483,773 at Sept 30, 2014 YTD which compares to a gross
profit of $24,000 at September 30, 2013 YTD. The net loss for the first
nine months of 2014 was ($11,268) which is an improvement from the net
loss of ($181,183) for the first nine months of 2013. 12,539,342 average
diluted common shares were outstanding during the first nine months of
2014 vs. 6,650,227 during the same period of 2013.
Mentor Capital focuses new investments into the cannabis and medical
marijuana space. Reported financial results are consolidated from
several portfolio entities. Nevada Cannabis Ventures, Inc. is funding
the formation of the management company for a hedge fund headquartered
and somewhat focused in Nevada. MicroCannabiz provides a definitive
directory of 4,500 cannabis entities, and other information related
cannabis services. $1.5 Million was also paid through Bhang Corporation
to Bhang owners, who have kept the $1.5 Million. They have refused to
issue any Bhang shares to Mentor Capital, publicly repudiating the
contract they signed a few months earlier. Mentor Capital is pursuing
through the courts the return of the $1.5 Million which will be
redeployed into the cannabis space. Mentor Capital focuses on
investments in private medical marijuana companies but holds some few
public cannabis shares in its stock portfolio. GW Pharmaceuticals is our
largest holding there. Mentor Capital has transitioned out of all of its
public cancer stocks and has only minority positions in Brighter Day
Health and Shaw Capital (medical devices) as residual private cancer
investments pending socially responsible exit opportunities. WCI is a
final remaining significant non-cannabis legacy investment.
About Mentor Capital: By acquisition or stock purchase, Mentor
Capital, Inc. seeks to invest in leading cannabis companies. Additional
important information for investors and founders seeking expansion
funding is presented at: www.MentorCapital.com
This press release is neither an offer to sell, nor a solicitation of
offers to purchase, securities.
Forward Looking Statements: This press release contains
forward-looking statements within the meaning of the federal securities
laws, including statements concerning financial projections, financing
activities, corporate combinations, product development activities and
sales and licensing activities. Such forward-looking statements
are not guarantees of future results or performance, are sometimes
identified by words of condition such as “should,” “could,” “expects,”
“may,” or “intends,” and are subject to a number of risks and
uncertainties, known and unknown, that could cause actual results to
differ materially from those intended or anticipated. Such risks
include, without limitation: nonperformance of investments, partner and
portfolio difficulties, potential delays in marketing and sales
activities, problems securing the necessary financing to continue
operations, problems encountered in commercializing cannabis products,
potential of competitive products, services, and technologies,
difficulties experienced in product development, difficulties in
recruiting knowledgeable personnel and potential problems in protecting
intellectual property. Further information concerning these and
other risks is included in the Company’s Form 10 filing which, along
with other very important information about the Company, can be found
here: http://MentorCapital.com/disclosures/
The Company undertakes no obligation to update or revise such
forward-looking statements to reflect events or circumstances occurring
after the date of this press release.
Copyright Business Wire 2014