Note 19 – Subsequent events

Management evaluated subsequent events through the date these financial statements were issued and concluded that no events subsequent to December 31, 2024 have occurred that would require recognition or disclosure, except as noted below.

Subsequent to year-end, on March 17, 2025, Mentor Capital, Inc. purchased 3 (three) kilograms of gold bullion for $295,328.

Subsequent to year-end, on March 20, 2025, Mentor Capital, Inc. purchased oil and gas royalty interests in seven (7) horizontal wells and a royalty interest of approximately 0.15625% in two (2) producing mineral wells located in the Permian Basin situated in Howard County, Texas from Bluestem Royalty Partners, LP, a Texas limited partnership, for $60,800.

Subsequent to year-end, on March 25, 2025, Mentor Capital, Inc. purchased an overriding royalty interest of approximately 0.06% in seventy-one (71) producing oil and gas wells in a nearly 3.5 square mile pooled horizontal drilling project located in the Permian Basin situated in Martin County, Texas from Gatorex Holdings, LLC, a Texas limited liability company, for $720,000.

Subsequent to year-end, on March 27, 2025, Mentor Capital, Inc. purchased royalty interests from Maven Royalty 2, LP, a Delaware limited partnership, for $84,000. The royalty interests include various non-participating royalty interests in seven (7) properties, with an additional royalty interest of 0.007157% in the Elias 16-9 Unit 2 Lease, and various royalty interests (producing minerals) in four (4) properties, all located in Martin County, Texas, containing a total of forty-one (41) producing wells.

Subsequent to year end, effective March 28, 2025, Marcia K. Meyer was appointed by a unanimous vote of our board of directors to fill the Board seat vacated as a result of her husband’s passing in late December 2024. Ms. Meyer was also appointed to serve as Secretary of the Company, effective March 28, 2025. Ms. Meyer is the Company’s second largest shareholder after our founder and CEO. She was a co-owner of a publishing business for thirty years, after spending a decade in the escrow industry. Ms. Meyer graduated from Western Michigan University with a double-major in biology and psychology.

Subsequent to year-end, on March 31, 2025, Mentor Capital, Inc. purchased royalty interests from Maven Royalty 2, LP, a Delaware limited partnership, for $504,000. The royalty interests include various non-participating royalty interests in seven (7) properties, with an additional royalty interest of 0.042942% in the Elias 16-9 Unit 2 Lease, and various royalty interests (producing minerals) in four (4) properties, all located in Martin County, Texas, containing a total of forty-one (41) producing wells.