Trailing Revenues at 200% of Current Market Capitalization Following Waste Consolidators, Inc. Revenue Growth
Mentor Capital, Inc. (OTCQB: MNTR) announced in its 10-Q filing for the second quarter of 2021 that revenues increased 18.4% and gross profit 2.8% during the second quarter compared to the same quarter in 2020. Compared to one year earlier, trailing twelve-month revenues increased 15% to $5.21 million or 22.8 cents per share. The August 13, 2021 closing Mentor share price was 10.8 cents per share, corresponding to a current market capitalization of $2.46 million.
Mentor CEO, Chet Billingsley, notes that much of Mentor's 15% trailing year-over-year revenue growth springs from Mentor's 51% owned subsidiary, Waste Consolidators, Inc. (WCI). WCI's revenue increased to $4.8 million for 2020, from $4.2 million in 2019 and $3.6 million in 2018, a 14.6% annualized growth trend.
In its second quarter 10-Q filing to the SEC, the Company reports that Mentor had quarterly revenues of $1,372,638 and gross profit of $378,636 with a resulting net loss attributable to Mentor of ($216,620) or (0.9 cents) per share. This is a revenue betterment over the prior-year quarter ended June 30, 2020, in which Mentor had revenues of $1,158,867 and gross profit of $368,197 with a resulting net loss attributable to Mentor of ($184,185) or (0.8 cents) per share.
On March 12, 2021, Mentor received a $100,000 loan from its CEO, which bears interest at 7.8% per annum and is due upon demand. On June 17, 2021, Mentor received a second $100,000 loan from its CEO under the same terms.
On June 30, 2021, there were 22,850,947 Company shares or share equivalents issued and outstanding. No equity was granted to directors, insiders, consultants, or investor relations firms in the second quarter of 2021 nor during the previous two and half years. The Company's shares finished the quarter at a closing price of $0.133 per share, representing a market capitalization of $3,039,176 compared to a 2020 year-end closing price of $0.081 per share and a corresponding market capitalization of $1,850,927, six months prior.
The Company is managed by Chairman, CEO, Principal Financial Officer, and director Chet Billingsley (68), who founded Mentor Capital first as an acquisition partnership in 1985. Mr. Billingsley's interest is reported at 11.72% on a fully diluted basis as of August 15, 2021, with other directors and officers holding an additional 5.87%.
The Form 10-Q may be referenced through the SEC's EDGAR system at: https://www.sec.gov/edgar/searchedgar/companysearch.html or at the Company's website: www.MentorCapital.com, where additional important information for investors can be found.
About Mentor Capital: The Company seeks to come alongside and assist private companies with their founders and investors in meeting their liquidity, equity financing, and acquisition objectives. The Company is currently exploring expansion to its start in the crypto space, looking at plastics companies, expanding its existing Waste Consolidators operation into Texas, and collecting on or selling off the Company's former cannabis financings, patents, leases, and investments in the legal proceedings of other parties.
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 and is subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated.
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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