California Superior Court Decides on Credit Default Insurance Loan
Fee
Mentor Capital, Inc. (OTCQB:MNTR) announces that it has received a
$746,500.29 judgment against Wm. E. Fielding and Associates, Inc. of
Delray Beach, Florida, as U.S. receiving and forwarding agent for Global
Guarantee Corporation, S.A. of Dublin, Ireland. The award was for
Fielding’s role in failing to return $621,250 in refundable loan
insurance premiums after an international loan did not fund, plus
interest and costs.
“Mentor Capital has been aggressive in pursuing the return of our unused
and refundable insurance premium. Our funds were originally wired out
into and then forwarded on internationally from Fielding’s JPMorgan
Chase bank account in Beverly Hills, California, in March 2014. In
addition to the various thirty-three court related steps reported on the
court docket, Mentor retained the Dublin law firm of McCann FitzGerald
to investigate Global Guarantee in Ireland and filed a criminal
complaint with the FBI here,” reports Mentor Capital CEO Chet
Billingsley.
“Because of our relatively small number of shares outstanding, this
judgment calculates to four cents per Mentor share. Our long-standing
policy here and in any similar court action is to step through the court
process and then patiently and continually pursue collection, which is
our next step,” concludes the CEO.
About Mentor Capital: The Company seeks to come alongside and
assist private medical marijuana and cannabis companies and their
founders in meeting their liquidity and financial objectives, to add
protection for investors and to help incubate private cannabis companies.
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 and
financing 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,” “intends,”
“seeks,” “looks,” “moves,” or “plans” 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, problems securing the necessary financing to continue operations,
problems involving continued illegality of cannabis products,
potential of competitive products, services, and technologies,
difficulties experienced in product development, in recruiting
knowledgeable personnel and in protecting intellectual property. Further
information concerning these and other risks is included in the
Company’s 10-K and 10-Q filings including the Company’s most recent
Quarterly Report on Form 10-Q for the quarter ended September 30, 2015
which, along with other very important information about the Company,
can be found filed with the SEC and here:
http://mentorcapital.com/disclosures/
The Company undertakes no obligation to update or revise such
forward-looking statements to reflect new information, events or
circumstances occurring after the date of this press release.
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