Quarterly report pursuant to Section 13 or 15(d)

Schedule of Purchase of additional equity in WCI (Tables)

Schedule of Purchase of additional equity in WCI (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Purchase of additional equity in WCI (Tables):

Schedule of Purchase of additional equity in WCI (Tables)

In accordance with Accounting Standard Codification 810-10, Consolidation – Overall, Mentor remeasured its previously held equity interest at the acquisition-date fair value and recognized the resulting gain of $1,250,964 on investment in subsidiary which is included in other income and expense in the consolidated statement of operations.

Cash to acquire additional 1% equity interest in WCI	$	25,000
Fair value of 50% interest (a)		1,250,000
Investment under equity method		-
Total purchase price to be allocated	$	1,275,000

(a) Estimated fair value of Mentor’s previously-held equity interest in WCI is valued at 1.25 times WCI’s projected 2014 revenue.

Purchase price allocation at 51% of WCI assets and liabilities:

WCI assets and liabilities:
Current assets	$	327,238
Property and equipment		51,239
Other assets		816,952
Current liabilities		(112,810)
Long-term debt		(1,178,977)
Net deficit		(96,358)
Mentor equity rate		51%
Mentor portion of liabilities in excess of assets		(49,143)
Goodwill		1,324,143
Net assets acquired	$	1,275,000