Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Mar. 28, 2024 | Jun. 30, 2023 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 000-55323 | ||
Entity Registrant Name | Mentor Capital, Inc. | ||
Entity Central Index Key | 0001599117 | ||
Entity Tax Identification Number | 77-0395098 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Address, Address Line One | 5964 Campus Court | ||
Entity Address, City or Town | Plano | ||
Entity Address, State or Province | TX | ||
Entity Address, Postal Zip Code | 75093 | ||
City Area Code | 760 | ||
Local Phone Number | 788-4700 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Elected Not To Use the Extended Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 571,080 | ||
Entity Common Stock, Shares Outstanding | 24,686,105 | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Auditor Firm ID | 5041 | ||
Auditor Name | BF Borgers CPA PC | ||
Auditor Location | Lakewood, CO |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 | |
Current assets | |||
Cash and cash equivalents | $ 2,431,299 | $ 283,431 | |
Investment in securities at fair value | 647,363 | ||
Accounts receivable, net | 1,800 | 600 | |
Other receivable | 15,000 | ||
Note Receivable | 1,000,000 | ||
Prepaid expenses and other current assets | 6,508 | 9,375 | |
Current assets of discontinued operations | 1,426,624 | ||
Total current assets | 4,101,970 | 1,720,030 | |
Property and equipment | |||
Property and equipment | 48,239 | 45,948 | |
Accumulated depreciation and amortization | (46,648) | (44,942) | |
Property and equipment of discontinued operations | 309,777 | ||
Accumulated depreciation of discontinued operations | (163,905) | ||
Property and equipment, net | 1,591 | 146,878 | |
Other assets | |||
Investment in account receivable, net of discount and current portion | 238,849 | 315,309 | |
Long term investments | 104,431 | 94,431 | |
Other assets of discontinued operations | 2,717,244 | ||
Total other assets | 343,280 | 3,126,984 | |
Total assets | 4,446,841 | 4,993,892 | |
Current liabilities | |||
Accounts payable | 3,152 | 7,535 | |
Accrued expenses | 91,460 | 19,371 | |
Current liabilities of discontinued operations | 991,050 | ||
Total current liabilities | 94,612 | 1,017,956 | |
Long-term liabilities | |||
Accrued salary, retirement, and incentive fee-related party | 436,512 | 1,153,948 | |
Long-term liabilities of discontinued operations | 1,095,889 | ||
Total long-term liabilities | 436,512 | 2,249,837 | |
Total liabilities | 531,124 | 3,267,793 | |
Commitments and Contingencies (Note 20) | |||
Shareholders’ equity | |||
Preferred stock, $0.0001 and $0.0001 par value, 5,000,000 and 5,000,000 shares authorized; 11 and 11 series Q preferred shares issued and outstanding at December 31, 2023 and 2022 | [1] | ||
Common stock, $0.0001 and $0.0001 par value, 75,000,000 shares authorized; 24,686,105 and 22,941,357 shares issued and outstanding at December 31, 2023 and 2022 | 2,469 | 2,294 | |
Additional paid in capital | 12,101,055 | 13,085,993 | |
Accumulated deficit | (8,187,807) | (11,345,465) | |
Non-controlling interest | (16,723) | ||
Total shareholders’ equity | 3,915,717 | 1,726,099 | |
Total liabilities and shareholders’ equity | $ 4,446,841 | $ 4,993,892 | |
[1]Par value is less than $0.01 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 11 | 11 |
Preferred stock, shares outstanding | 11 | 11 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 24,686,105 | 22,941,357 |
Common stock, shares outstanding | 24,686,105 | 22,941,357 |
Consolidated Income Statements
Consolidated Income Statements - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue | ||
Total revenue | $ 35,074 | |
Cost of revenue | ||
Gross profit | 35,074 | |
Selling, general, and administrative expenses | 1,775,210 | 495,400 |
Operating income (loss) | (1,775,210) | (460,326) |
Other income and (expense) | ||
Gain on sale of discontinued operations | 4,805,389 | |
Gain (loss) on investments | (170,418) | |
Interest income | 74,780 | 58,725 |
Unrealized gain (loss) on investments | (2,484) | |
Interest expense | (15,847) | (33,878) |
Other income (expense) | 1,291 | 555 |
Total other income and (expense) | 4,863,129 | (145,016) |
Income (loss) before provision for income taxes | 3,087,919 | (605,342) |
Provision for income taxes | (8,160) | (6,768) |
Net income (loss) – from continued operations | 3,079,759 | (612,110) |
Net Income (loss) from discontinued operations before tax | 83,682 | 252,800 |
Provision for income taxes on discontinued operations | (5,783) | (7,615) |
Net income (loss) - from discontinued operations | 77,899 | 245,185 |
Net income (loss) | 3,157,658 | (366,925) |
Gain (loss) attributable to non-controlling interest | (104,461) | |
Net income (loss) attributable to Mentor | $ 3,157,658 | $ (471,386) |
Basic and diluted net income (loss) per Mentor common share: | ||
Basic | $ 0.137 | $ (0.021) |
Diluted | $ 0.122 | $ (0.021) |
Weighted average number of shares of Mentor common stock outstanding: | ||
Basic | 22,977,395 | 22,941,357 |
Diluted | 25,865,216 | 22,941,357 |
Service [Member] | ||
Revenue | ||
Total revenue | $ (2,585) | |
Finance Lease Revenue [Member] | ||
Revenue | ||
Total revenue | $ 37,659 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Deficit) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total | |
Balance at Dec. 31, 2021 | [1] | $ 2,285 | $ 13,071,655 | $ (10,874,079) | $ 2,199,861 | $ (121,184) | $ 2,078,677 | |
Balance, shares at Dec. 31, 2021 | 11 | 22,850,947 | ||||||
Conversion of Warrants to Common Stock | $ 9 | 14,338 | 14,347 | 14,347 | ||||
Conversion of warrants to common stock, shares | 90,410 | |||||||
Net income (loss) | [1] | (471,386) | (471,386) | 104,461 | (366,925) | |||
Balance at Dec. 31, 2022 | [1] | $ 2,294 | 13,085,993 | (11,345,465) | 1,742,822 | (16,723) | 1,726,099 | |
Balance, shares at Dec. 31, 2022 | 11 | 22,941,357 | ||||||
Conversion of Warrants to Common Stock | [1] | $ 200 | 39,800 | 40,000 | 40,000 | |||
Conversion of warrants to common stock, shares | 2,000,000 | |||||||
Net income (loss) | [1] | 3,157,658 | 3,157,658 | 3,157,658 | ||||
Treasury stock buybacks | [1] | $ (25) | (7,859) | (7,884) | (7,884) | |||
Treasury stock buybacks, shares | (255,252) | |||||||
Surrender of warrants in payment of note receivable | [1] | (1,016,879) | (1,016,879) | (1,016,879) | ||||
Equity adjustment on discontinued operations | [1] | 16,723 | 16,723 | |||||
Balance at Dec. 31, 2023 | [1] | $ 2,469 | $ 12,101,055 | $ (8,187,807) | $ 3,915,717 | $ 3,915,717 | ||
Balance, shares at Dec. 31, 2023 | 11 | 24,686,105 | ||||||
[1]Par value of Series Q preferred shares is less than $1. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ 3,157,658 | $ (366,925) |
Less net income from discontinued operations | (77,899) | (245,185) |
Adjustments to reconcile net income (loss) to net cash provided by (used by) operating activities: | ||
Depreciation and amortization | 1,706 | 2,079 |
Bad debt expense | 10,198 | |
Amortization of discount on investment in account receivable | (41,741) | (56,806) |
Change in accrued interest income | 86,325 | |
Gain on sale of discontinued operation | (4,805,389) | |
(Gain) loss on investment in securities at fair value | 2,484 | 833 |
(Gain) loss on long-term investments | 110,772 | |
Decrease (increase) in operating assets | ||
Finance lease receivable | 306,650 | |
Accounts receivable - trade | (11,398) | |
Other receivables | (15,000) | |
Prepaid expenses and other current assets | 2,867 | |
Increase (decrease) in operating liabilities | ||
Accounts payable | (4,383) | 1,481 |
Accrued expenses | 72,089 | (173,669) |
Deferred revenue | (16,308) | |
Accrued salary, retirement, and benefits - related party | (717,436) | 26,083 |
Net cash provided by (used by) operating activities | (2,426,244) | (324,670) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of investment securities | (649,847) | |
Proceeds from securities sold | 176 | |
Sale of investment of discontinued operation | 6,000,000 | |
Adjustment on sale of discontinued operation | 129,532 | |
Increase in long-term investments | (10,000) | |
Purchase of contractual interest in legal recovery | 396,666 | |
Purchases of property and equipment | (2,291) | |
Proceeds from investment in receivable | 118,201 | 42,930 |
Net cash provided by (used by) investing activities | 5,585,595 | 439,772 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from warrants converted to common stock | 40,000 | 14,347 |
Payments on repurchase of stock | (7,884) | |
Increase in notes receivable | (1,000,000) | |
Paid in capital adjustment - note receivable reduction | (1,016,879) | |
Net cash provided by (used by) financing activities | (1,984,763) | 14,347 |
Net change in cash – continued operations | 1,174,588 | 129,449 |
Operating cash flow - discontinued operations | 408,928 | 497,086 |
Investing activities - discontinued operations | 1,480,861 | (83,284) |
Financing activities - discontinued operations | (1,423,008) | (207,260) |
Net change in cash | 1,641,369 | 335,991 |
Cash beginning of period - continued operations | 283,431 | 192,475 |
Cash beginning of period - discontinued operations | 506,499 | 261,464 |
Beginning cash | 789,930 | 453,939 |
Cash - end of period | 2,431,299 | 789,930 |
Less cash of discontinued operations | (506,499) | |
Ending cash | 2,431,299 | 283,431 |
SUPPLEMENTARY INFORMATION: | ||
Cash paid for interest – all operations | 64,685 | 302,312 |
Less Cash paid for interest - discontinued operations | (29,992) | (42,483) |
Cash paid for interest – continued operations | 34,693 | 259,829 |
Cash paid for income taxes – all operations | 15,304 | 15,663 |
Less Cash paid for income taxes – discontinued operations | (5,784) | (7,615) |
Cash paid for income taxes – continued operations | 9,520 | 8,048 |
Right of use assets acquired through operating lease liability - all operations | ||
Right of use assets acquired through finance lease liability - all operations | 431,762 | |
Less right of use assets acquired through finance lease liability - discontinued operations | (431,762) | |
Right of use assets acquired through finance lease liability - continued operations | ||
Property and equipment acquired via long-term debt - all operations | 22,480 | |
Less Property and equipment acquired via long-term debt - all operations | (22,480) | |
Property and equipment acquired via long-term debt - continued operations |
Nature of operations
Nature of operations | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of operations | Note 1 - Nature of operations Corporate Structure Overview Mentor Capital, Inc. (“Mentor” or “the Company”) was reincorporated under the laws of the State of Delaware The entity was originally founded as an investment partnership in Silicon Valley, California, by the current CEO in 1985 and subsequently incorporated under the laws of the State of California on July 29, 1994 The Company’s common stock trades publicly under the trading symbol OTCQB: MNTR. The Company’s current target industry focus includes the classic energy sectors of oil, gas, coal, uranium, and related ventures. Additionally, the Company has residual investments in legal dispute resolution services, collecting on an annuity-like financing, and the collection of a judgment that it intends to continue to pursue. The following is a list of subsidiaries of Mentor Capital, Inc. as of December 31, 2023: Schedule of List of Subsidiaries Name of Subsidiary % of ownership State in which Incorporated Mentor IP, LLC 100% South Dakota Mentor Partner I, LLC 100% Texas Mentor Partner II, LLC 100% Texas TWG, LLC 100% Texas Mentor’s 100 MCIP held intellectual property and licensing rights related to one United States and coincident Canadian patent associated with vape pens. On October 24, 2023, the Company divested MCIP’s intellectual property and licensing rights related to the United States and the Canadian patent associated with vape pens. The Company received no payment for its divestment. Patent application national phase maintenance fees were expensed when paid, and there were no assets related to MCIP patents represented on the consolidated financial statements on December 31, 2023 and 2022. Activity had been limited to payment of patent application maintenance fees in Canada. On August 27, 2021, the Company and Mentor Partner I entered into a Settlement Agreement and Mutual Release with G FarmaLabs Limited, its affiliated entities, and guarantors (“G Farma Settlors”) to resolve and settle all outstanding claims on an unpaid finance lease receivable and notes receivable of balances of $ 803,399 1,045,051 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 In August 2022, September 2022, and October 2022, the G Farma Settlors failed to make monthly payments, and failed to cure each default within 10 days’ notice from Company pursuant to the Settlement Agreement. On July 11, 2023, the Court entered judgment against the G Farma Settlors and in favor of Mentor and Partner I in the amount of $ 2,539,597 10 % from July 11, 2023 until such time as the judgment is paid in full. The Company has retained the reserve on collections of the unpaid lease receivable balance due to the long history of uncertain payments from G Farma. Payments from G Farma will be recognized in Other Income as they are received. We will continue to pursue collection from the G Farma Settlors over time. No recovery payments have been received since October 11, 2022. The $ 2,539,597 judgment and interest receivable of $ 120,370 for the twelve months ended December 31, 2023 is fully reserved pending the outcome of the Company’s collection process. See Notes 8, 9, and 18. On September 27, 2022, Pueblo West Organics, LLC, a Colorado limited liability company (“Pueblo West”) exercised a lease prepayment option and purchased manufacturing equipment from Partner II for $ 245,369 . On September 28, 2022 Partner II transferred full title to the equipment to Pueblo West. See Note 9. On November 18, 2022, following the filing of a declaratory relief action, Mentor received $ 459,990 196,666 200,000 63,324 194,028 130,704 On December 21, 2018, Mentor paid $ 10,000 500,000 6.13 Since 2003, the Company has held an interest in a facilities operations company, Waste Consolidators Inc. (“WCI”). The Company purchased a 50% interest in WCI in 2003 and increased its ownership stake by 1% in 2014. On October 4, 2023, the Company sold the entirety of its ownership interest in WCI for $ 6,000,000 . Following the sale, the Company received no new income from WCI and had no further involvement or continuing influence over its operations. As a result of this sale, our facilities operations segment was eliminated, and its results of operations, assets, and liabilities were excluded from our continuing operations. Therefore, WCI is presented as a discontinued operation in our consolidated financial statements. See Note 3. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | Note 2 - Summary of significant accounting policies Basis of presentation The accompanying consolidated financial statements and related notes include the activity of subsidiaries in which a controlling financial interest is owned. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Significant intercompany balances and transactions have been eliminated in consolidation. As shown in the accompanying financial statements, the Company has an accumulated deficit of ($ 8,187,807 Ongoing Capital Formation The Company will endeavor to raise additional capital to fund its acquisitions from both related and unrelated parties to generate increasing growth and revenues. The Company has 4,250,000 0.02 Management’s plans include increasing revenues through acquisition, investment, and organic growth. Management anticipates funding new activities by raising additional capital through the sale of equity securities and debt. Impact Related to Endemic Factors COVID-19 and the measures taken by many countries in response have adversely affected and could, in the future, materially adversely impact the Company’s business, acquisition plans, results of operations, financial condition, and stock price. Although we have not yet been materially adversely affected as of December 31, 2023, our future financial condition may be materially and adversely impacted as a result of the ongoing worldwide economic situation, economic sanctions, the impact of inflation, interest rate increases, tax increases, tariff increases, recession, climate regulation, cybersecurity risks, evolving and sophisticated cyber-attacks and other attempts to gain access to our information technology systems, increased risk to oil markets, potential banking crises, the outbreak of war in Ukraine, the Israel-Hamas war, future weakness in the credit markets, increased rates of default and bankruptcy, political change, and significant liquidity problems for the financial services industry. For example, our current or potential customers, or the current or potential customers of our partners or affiliates, may delay or decrease spending with us, may not pay us, or may delay paying us for previously purchased products and services. Also, we, or our partners or affiliates, may have difficulties in securing additional financing. Additionally, the collectability of our investment in account receivable was impaired by $ 116,430 41,930 , see Note 4. Supply chain disruptions, inflation, interest rate increases, tax increases, recession, high energy prices, and supply-demand imbalances are expected to continue in 2024. We anticipate that current cash and associated resources will be sufficient for us to execute our business plan for five years after the date these financial statements are issued. The ultimate impact of COVID-19, the outbreak of war in Ukraine, the Israel-Hamas war, potential cyber-attacks, inflation, interest rate increases, tax increases, and a potential recession on our business, results of operations, cybersecurity, financial condition, and cash flows are dependent on future developments, which are uncertain and cannot be predicted at this time. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Segment reporting Continuing operations The Company has determined that there are currently two reportable segments: 1) the historic residual medical operations segment and 2) the Company’s energy segment. Discontinued operation On October 4, 2023, the Company’s facilities operations segment was sold. Following the sale, the Company received no new income from WCI and had no further involvement or continuing influence over its operations. As a result, our facilities operations segment was deconsolidated on the date of the sale, and our former facilities operations segment was reported as a discontinued operation. See Note 3. Use of estimates The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates, assumptions, and judgments that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of our consolidated financial statements, and the reported amount of revenues and expenses during the reporting period. Significant estimates relied upon in preparing these consolidated financial statements include revenue recognition, accounts and notes receivable reserves, expected future cash flows used to evaluate the recoverability of long-lived assets, estimated fair values of long-lived assets used to record impairment charges related to investments, goodwill, amortization periods, accrued expenses, and recoverability of the Company’s net deferred tax assets and any related valuation allowance. Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known. Acquisitions and divestitures are not announced until certain. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results may differ from management’s estimates if past experience or other assumptions do not turn out to be substantially accurate. Recent Accounting Standards From time to time, the FASB, or other standards-setting bodies, issue new accounting pronouncements. Updates to the FASB Accounting Standard Codifications (“ASCs”) are communicated through the issuance of an Accounting Standards Update (“ASU”). Unless otherwise discussed, we believe that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected to have a material impact on our consolidated financial statements upon adoption. Simplifying the Accounting for Income Taxes Simplifying the Accounting for Income Taxes Concentrations of cash The Company maintains its cash and cash equivalents in bank deposit accounts, which at times may exceed federally insured Federal Deposit Insurance Corporation limits. The Company has not experienced any losses in such accounts, nor does the Company believe it is exposed to any significant credit risk on cash and cash equivalents. The Company will continue to monitor its accounts and the banking sector for potential financial institution risk. Cash and cash equivalents The Company considers all short-term debt securities purchased with a maturity of three months or less to be cash equivalents. The Company had no Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Accounts receivable Accounts receivables consist of trade accounts arising in the normal course of business and are classified as current assets and carried at original invoice amounts less an estimate for doubtful receivables based on historical losses as a percent of revenue in conjunction with a review of outstanding balances on a quarterly basis. The estimate of allowance for doubtful accounts is based on the Company’s bad debt experience, market conditions, and aging of accounts receivable, among other factors. If the financial condition of the Company’s customers deteriorates, resulting in the customer’s inability to pay the Company’s receivables as they come due, additional allowances for doubtful accounts will be required. At December 31, 2023 and 2022, the Company had no Investments in securities at fair value Investment in securities consists of debt and equity securities reported at fair value. Under ASU 2016-01, “ Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities Long term investments The Company’s investments in entities where it is a minority owner and does not have the ability to exercise significant influence are recorded at fair value if readily determinable. If the fair market value is not readily determinable, the investment is recorded under the cost method. Under this method, the Company’s share of the earnings or losses of such investee company is not included in the Company’s financial statements. The Company reviews the carrying value of its long-term investments for impairment each reporting period. Investments in debt securities At December 31, 2023 and December 31, 2022, the Company held no investments in debt securities. The Company’s former investment in debt securities consisted of two convertible notes receivable from NeuCourt, Inc. On July 15, 2022, all principal and accrued interest on the notes were converted into a Simple Agreement for Future Equity (“SAFE”). At December 31, 2023 and 2022, the SAFE Purchase Amount was $ 93,756 83,756 Investment in account receivable, net of discount The Company’s investments in accounts receivable is stated at face value, net of unamortized purchase discount. The discount is amortized to interest income over the term of the exchange agreement. In the fourth quarter of 2020, we were notified that due to the effect of COVID-19 on the estimated receivable, we may not receive the 2020 installment payment or the full 2021 installment payment. Due to a reduction in expected collections, the collectability of our investment in account receivable was impaired by $ 116,430 41,930 On January 10, 2023, the Company received the 2022 annual installment payment of $ 117,000 117,000 Credit quality of notes receivable and finance leases receivable and credit loss reserve As our notes receivable and finance leases receivable are limited in number, our management is able to analyze estimated credit loss reserves based on a detailed analysis of each receivable as opposed to using portfolio-based metrics. Our management does not use a system of assigning internal risk ratings to each of our receivables. Rather, each note receivable and finance lease receivable are analyzed quarterly and categorized as either performing or non-performing based on certain factors including, but not limited to, financial results, satisfying scheduled payments, and compliance with financial covenants. A note receivable or finance lease receivable will be categorized as non-performing when a borrower experiences financial difficulty and has failed to make scheduled payments. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Property and equipment Property and equipment are recorded at cost less accumulated depreciation. Depreciation is computed using the declining balance method over the estimated useful lives of various classes of property. The estimated lives of the property and equipment are generally as follows: computer equipment, 3 5 7 4 5 Expenditures for major renewals and improvements are capitalized, while minor replacements, maintenance, and repairs, which do not extend the asset lives, are charged to operations as incurred. Upon sale or disposition, the cost and related accumulated depreciation are removed from the accounts, and any gain or loss is included in operations. The Company continually monitors events and changes in circumstances that could indicate that the carrying balances of its property and equipment may not be recoverable in accordance with the provisions of ASC 360, “Property, Plant, and Equipment.” The Company reviews intangible assets subject to amortization quarterly to determine if any adverse conditions exist or if a change in circumstances has occurred that would indicate impairment or a change in the remaining useful life. Conditions that may indicate impairment include, but are not limited to, a significant adverse change in legal factors or business climate that could affect the value of an asset, a product recall, or an adverse action or assessment by a regulator. If an impairment indicator exists, we test the intangible asset for recoverability. For purposes of the recoverability test, we group our amortizable intangible assets with other assets and liabilities at the lowest level of identifiable cash flows if the intangible asset does not generate cash flows independent of other assets and liabilities. If the carrying value of the intangible asset (asset group) exceeds the undiscounted cash flows expected to result from the use and eventual disposition of the intangible asset (asset group), the Company will write the carrying value down to the fair value in the period identified. Lessee Leases We determine whether an arrangement is a lease at inception. Lessee leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria is met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset or the present value of the lease payments equals or exceeds substantially all of the fair value of the asset. A lease is classified as an operating lease if it does not meet any one of these criteria. Our operating leases are comprised of office space leases and office equipment. Fleet vehicle leases entered into prior to January 1, 2019, are classified as operating leases based on an expected lease term of 4 5 1 48 Costs associated with operating lease assets were recognized on a straight-line basis over the term of the lease, within cost of goods sold for vehicles used in direct servicing of our discontinued operation customers and in operating expenses for costs associated with all other operating leases. Finance lease assets were amortized within the cost of goods sold for vehicles used in direct servicing of our discontinued operation customers and within operating expenses for all other finance lease assets on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease term. The interest component of a finance lease was included in interest expense and recognized using the effective interest method over the lease term. Our discontinued operation had agreements that contained both lease and non-lease components. For vehicle fleet operating leases, we accounted for lease components together with non-lease components (e.g., maintenance fees). Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Goodwill On October 4, 2023, the Company sold the entirety of its interest in Waste Consolidators, Inc. (“WCI”) by entering into a Stock Purchase Agreement whereby the shareholders of WCI sold all of the outstanding shares of stock to Ally Waste Services, LLC. Following the sale, the Company received no new income from WCI and had no further involvement or continuing influence over its operations. Prior to the sale, goodwill of $ 1,324,142 was derived from consolidating WCI effective January 1, 2014, and $ 102,040 of goodwill was derived from the 2003 acquisition of a 50 % interest in WCI. In accordance with ASC 350, “Intangibles-Goodwill and Other,” “Discontinued Operations 1,426,182 goodwill to be reduced to $ 0 and the results of operations and assets and liabilities for our facilities operations segment were excluded from our continuing operations and presented as a discontinued operation in our consolidated financial statements. As a result, goodwill in an aggregate amount of $ 1,426,182 was reduced to $ 0 . No goodwill is reported in the Company’s condensed consolidated balance sheets at December 31, 2023 and 2022. Revenue recognition The Company recognizes revenue in accordance with ASC 606, “ Revenue from Contracts with Customers Leases The discontinued operation that we sold on October 4, 2023, worked with business park owners, governmental centers, and apartment complexes to reduce facilities-related costs. Our discontinued operation performed monthly services pursuant to agreements with customers. Customer monthly service fees were based on our discontinued operation’s assessment of the amount and frequency of monthly services requested by a customer. Our discontinued operation may have also provided additional services, such as apartment cleanout services, large item removals, or similar services, on an as-needed basis at an agreed-upon rate as requested by customers. All services were invoiced and recognized as revenue in the month the agreed-on services were performed. Our discontinued operation is deconsolidated and presented as a “discontinued operation” at December 31, 2023 and at December 31, 2022, the prior reporting period. For each finance lease, the Company recognized as a gain the amount equal to (i) the net investment in the finance lease less (ii) the net book value of the equipment at the inception of the applicable lease. At lease inception, we capitalized the total minimum finance lease payments receivable from the lessee, the estimated unguaranteed residual value of the equipment at lease termination, if any, and the initial direct costs related to the lease, less unearned income. Unearned income was recognized as finance income over the term of the lease using the effective interest rate method. The Company, through its subsidiaries Mentor Partner I, LLC and Mentor Partner II, LLC, was the lessor of manufacturing equipment subject to leases under master leasing agreements. The leases contained an element of dealer profit, and the lessee bargained purchase options at prices substantially below the subject assets’ estimated residual values at the exercise date for the options. Consequently, the Company classified the leases as sales-type leases (the “finance leases”) for financial accounting purposes. For such finance leases, the Company reported the discounted present value of (i) future minimum lease payments (including the bargain purchase option, if any) and (ii) any residual value not subject to a bargain purchase option as a finance lease receivable on its balance sheet and accrued interest on the balance of the finance lease receivable based on the interest rate inherent in the applicable lease over the term of the lease. For each finance lease, the Company recognized revenue in an amount equal to the net investment in the lease and cost of sales equal to the net book value of the equipment at the inception of the applicable lease. Basic and diluted income (loss) per common share We compute net income or loss per share in accordance with ASC 260, “ Earnings Per Share There were 4,250,000 2,887,821 7,000,000 as of December 31, 2022. Assumed conversion of Series Q Preferred Stock into Common Stock would be anti-dilutive as of December 31, 2023 and 2022 and is not included in calculating the diluted weighted average number of shares outstanding. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Income taxes The Company accounts for income taxes in accordance with accounting guidance now codified as FASB ASC 740, “ Income Taxes The Company applies the provisions of ASC 740, “ Accounting for Uncertainty in Income Taxes. Fair value measurements The Company adopted ASC 820, “ Fair Value Measurement,” The Fair Value Measurements and Disclosure Topic establishes a fair value hierarchy, which prioritizes the valuation inputs into three broad levels. These three general valuation techniques that may be used to measure fair value are as follows: Market approach (Level 1) – which uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Prices may be indicated by pricing guides, sale transactions, market trades, or other sources. Cost approach (Level 2) – which is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost); and the Income approach (Level 3) – which uses valuation techniques to convert future amounts to a single present amount based on current market expectations about the future amounts (including present value techniques, and option-pricing models). Net present value is an income approach where a stream of expected cash flows is discounted at an appropriate market interest rate. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 The carrying amounts of cash, accounts receivable, prepaid expenses and other current assets, accounts payable, customer deposits, and other accrued liabilities approximate their fair value due to the short-term nature of these instruments. The fair value of available-for-sale investment securities is based on quoted market prices in active markets. The fair value of the investment in account receivable is based on the net present value of calculated interest and principal payments. The carrying value approximates fair value as interest rates charged are comparable to market rates for similar investments. The fair value of notes receivable is based on the net present value of calculated interest and principal payments. The carrying value approximates fair value as interest rates charged are comparable to market rates for similar notes. The fair value of long-term notes payable is based on the net present value of calculated interest and principal payments. The carrying value of long-term debt approximates fair value due to the fact that the interest rate on the debt is based on market rates. |
Discontinued operation
Discontinued operation | 12 Months Ended |
Dec. 31, 2023 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued operation | Note 3 – Discontinued operation Acquisition Waste Consolidators, Inc. (“WCI”) was a legacy investment that originated when the Company purchased 50 % of the outstanding shares of WCI on October 1, 2003, in a stock for stock exchange that was originally valued at $ 1,000,000 and was later reduced to a cost basis of $ 79,200 on October 28, 2007, pursuant to a purchase price related addendum between WCI and the Company. Effective January 1, 2014, the Company purchased an additional 1 % of the outstanding shares of WCI for $ 25,000 51 % controlling interest in WCI and an amendment to our change in valuation of WCI due to our controlling interest. As a result, WCI was included in the consolidated financial statements since January 1, 2014, and the Company recognized a fair value of $ 1,250,000 of non-cash gain on the adjustment to the fair value of the investment in WCI. This resulted in a total of $ 1,275,000 investment in WCI in its audited financials for the year ended December 31, 2014. Additionally, the Company recognized a ($ 47,216 ) effect of consolidating our interest in WCI that was previously accounted for at cost prior to December 31, 2014. Prior to acquiring a controlling interest in WCI on January 1, 2014, Mentor accounted for the investment in WCI using the equity method based on the ownership interest and the Company’s limited ability to exercise significant influence from December 31, 2003 to December 31, 2013. Accordingly, the investment was initially recorded at cost with adjustments to the carrying amount of the investment to recognize our share of the earnings or losses of the investee each reporting period. In accordance with ASC 810-10, “ Consolidation – Overall Schedule of Equity Interest at the Acquisition Date Fair Value Cash to acquire an additional 1% equity interest in WCI $ 25,000 Fair value of 50% interest (a) 1,250,000 Investment under the equity method - Total purchase price to be allocated $ 1,275,000 (a) The estimated fair value of Mentor’s previously held equity interest in WCI is valued at 1.25 times WCI’s projected 2014 revenue. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Purchase price allocation at 51% of WCI assets and liabilities: Schedule of Purchase Price Allocation 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 Goodwill of $ 1,324,143 102,040 50 , “Intangibles – Goodwill and Other Disposal On October 4, 2023, the Company sold the entirety of its interest in WCI by entering into a Stock Purchase Agreement whereby the shareholders of WCI sold all of the outstanding shares of stock to Ally Waste Services, LLC. Prior to the sale, the Company did not have any assurances that a sale of WCI was likely to occur. The Company’s policy is to not announce anything that is uncertain or unlikely to occur. Following the sale, the Company reported the results to the public in an October 5, 2023 press release and Current Report on Form 8-K filed with the Securities and Exchange Commission on October 10, 2023. In connection with the sale, the Company received net, after WCI debt payoff, $ 5,000,000 in cash and a one-year unsecured, subordinated, promissory note in the initial principal face amount of $ 1,000,000 . The note accrues interest at 6 % per annum. At December 31, 2023 we recognized a $ 4,805,389 gain on our sale of WCI as follows: Schedule of gain on sale of WCI Cost basis of WCI Purchase price allocation at 51% WCI assets and liabilities 1,275,000 Net investment in 51% earnings 326,735 Net investment in distributions (407,124 ) Total WCI Cost Basis $ 1,194,611 Sale price of WCI Payment at Closing 5,000,000 Promissory Note Receivable 1,000,000 Total WCI Sale Price $ 6,000,000 Gain on sale of WCI WCI sale price 6,000,000 Less WCI cost basis (1,194,611 ) Total gain on sale of WCI $ 4,805,389 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Effective October 4, 2023, on the date of the sale of WCI, we met the criteria outlined in ASC Topic 205-20 “Discontinued Operations 1,426,182 goodwill to be reduced to $ 0 and the results of operations and assets and liabilities for our facilities operations segment were excluded from our continuing operations and presented as a discontinued operation in our consolidated financial statements. As a result, goodwill in an aggregate amount of $ 1,426,182 0 . Consolidation and Deconsolidation Consolidation As a result of the acquisition of our 51 Consolidation – Overall 49 Deconsolidation In accordance with ASC Topic 810-10-40, “ Consolidation — Overall – Derecognition - Deconsolidation of a Subsidiary or Derecognition of a Group of Assets, 4,805,389 4,805,389 51 51 Discontinued Operation Financial Statement Presentation and Disclosures Financial Statement Presentation Due to the sale of our entire ownership interest in WCI on October 4, 2023, our facilities operation segment was eliminated. Following our sale of WCI, the Company received no new income from WCI and had no further involvement or continuing influence over its operations. Consequently, we determined that the results from operations and assets and liabilities associated with our facilities operation segment were to be excluded from our continuing operations and presented as a discontinued operation in our consolidated financial statements in accordance with ASC Topic 205-20-45, “ Discontinued Operations Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Consolidated Balance Sheets The following is a summary of the assets and liabilities that were sold effective October 4, 2023, and a reconciliation of the assets and liabilities disclosed in the notes to financial statements that are presented as a discontinued operation on the consolidated balance sheet as of December 31, 2022: Schedule of balance sheet October 4, December 31, 2023 (1) 2022 ASSETS Current assets: Cash and cash equivalents $ 369,387 $ 506,499 Accounts receivable 786,617 686,870 Other current assets 19,027 233,255 Total current assets sold - discontinued operation 1,169,030 1,426,625 Property and equipment 179,673 145,872 Goodwill (2) 102,040 102,040 Prepaid Admin Fee – Mentor - 337,333 Security deposit 22,477 25,575 Right of use asset 1,884,632 1,265,486 Total noncurrent assets sold - discontinued operation 2,009,149 1,730,434 Total assets $ 3,357,852 $ 3,302,931 LIABILITIES AND NET ASSETS Current liabilities: Accounts -payable trade $ 38,530 $ 24,557 Finance lease liability - current 419,073 232,058 Accrued expenses 597,217 639,373 Total current liabilities sold - discontinued operation 1,054,820 895,988 EIDL loan payable 51,797 161,060 Note payable - Mentor - 1,081,323 Long term debt - 83,876 Finance lease liability – long-term 1,069,810 575,852 Operating lease liability - long-term 256,071 370,164 Total noncurrent liabilities sold - discontinued operation 1,377,677 2,272,274 Total liabilities 2,432,497 3,168,262 Total net assets of discontinued operation $ 925,355 $ 134,669 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. (2) Effective upon the date of sale, October 4, 2023, we deconsolidated our discontinued operation and goodwill of $ 102,040 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Net income (loss) from discontinued operations before tax The following is a reconciliation of the major classes of financial statement line items constituting net income (loss) from discontinued operations before tax from WCI, our discontinued operation, that is disclosed in the notes to the financial statements and presented in the consolidated statements of net (loss) income for fiscal years December 31, 2023 and 2022: Schedule of disposal groups, including discontinued operations December 31, 2023 December 31, Revenue $ - $ 35,074 Cost of sales - - Gross profit - 35,074 Selling, general and administrative expenses 1,775,210 495,400 Operating income (loss) (1,775,210 ) (460,326 ) Total other income and (expense) (1) 4,863,129 (145,016 ) Income (loss) before provision for income taxes $ 3,087,919 (605,342 ) Provision for income taxes (8,160 ) (6,768 ) Net income (loss) from continued operations 3,079,759 (612,110 ) Net income (loss) from discontinued operations 77,899 245,185 Net income (loss) 3,157,658 (366,925 ) Gain (loss) attributable to non-controlling interest - (104,461 ) Net income (loss) attributable to Mentor 3,157,658 (471,386 ) (1) During fiscal year 2023, we recognized a $ 4,805,389 Cash Flow Disclosures Prior to the October 4, 2023 sale date, on September 30, 2023 and on December 31, 2022, our discontinued operation had net cash used in operating activities totaling $ 333,207 506,499 728,657 633,178 20,374 230,322 82,984 51,308 392,838 309,777 323,875 370,164 1,560,757 895,323 523,178 639,373 1,488,883 807,910 323,875 370,164 58,031 161,060 0 83,876 At December 31, 2023 we reported a $ 4,805,389 Lease Commitment Disclosures Our discontinued operation had entered into non-cancellable operating and finance leases for office and warehouse space, computers, furniture, fixtures, machinery, and vehicles. The following summarizes our discontinued operations’ lease liability maturities for operating and finance leases on the date of sale: Schedule of lease liability Maturity of lease liabilities October 4, 2023 (1) Finance leases Operating leases 2024 419,073 67,804 2025 424,735 74,860 2026 388,723 82,475 2027 251,571 90,670 2028 4,781 8,066 Total 1,488,883 323,875 Less: Present value discount (419,073 ) (67,804 ) Total lease liabilities $ 1,069,810 $ 256,071 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. Term Debt Disclosures Our discontinued operation had no term debt on the date of the sale Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Economic Injury Disaster Loan Disclosures On July 9, 2020, our discontinued operation received an additional Economic Injury Disaster Loan in the amount of $ 149,900 3.75 731 July 2021 Other Receivable Disclosures Other receivable consisted of the following: Schedule of other receivable October 4, 2023 December 31, Employee retention tax credits $ - $ - Accrued sales tax receivable from customers * 20,374 237,243 Other - (6,921 ) Total other receivable $ 20,374 $ 230,322 * At December 31, 2022, we estimated that our discontinued operation’s accrued sales tax receivable was $ 237,243 285,128 206,671 20,374 In 2022, our discontinued operation received an Employee Retention Tax Credit (“ERTC”) in the amount of $ 1,350,161 10,000 7,000 ERTC income of $ 0 1,350,161 0 1,350,161 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Property, Plan, and Equipment Disclosures Property and equipment for our discontinued operation were comprised of the following on October 4, 2023, and December 31, 2022: Schedule of property, plant and equipment October 4, 2023 (1) December 31, Computers $ - $ - Furniture and fixtures 12,761 12,761 Machinery and vehicles 380,077 297,016 Gross Property and equipment 392,838 309,777 Accumulated depreciation and amortization (213,165 ) (163,905 ) Property and equipment of discontinued operations Accumulated depreciation of discontinued operations Net Property and equipment $ 179,673 $ 145,872 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. Depreciation and amortization expenses were $ 49,260 47,974 16,325 21,204 Lessee Leases Disclosures Our discontinued operation’s operating leases were comprised of office space and office equipment leases. Fleet and vehicle leases were entered into prior to January 1, 2019, and under ASC 840 guidelines, they had 4-year terms and were classified as operating leases. Fleet leases entered into beginning January 1, 2019, under ASC 842 guidelines, were expected to be extended to 5-year terms and are classified as finance leases. Gross right of use assets recorded under finance leases related to our discontinued operation’s vehicle fleet leases were $ 2,272,984 1,289,714 712,227 394,391 Our discontinued operation’s lease costs no longer recognized in our consolidated income statements were as follows: Schedule of lease costs recognized in consolidated statements of operations October 4, (1) December 31, Operating lease cost included in cost of goods $ - $ 13,054 Operating lease cost included in operating costs 60,256 54,571 Total operating lease cost (1) 60,256 67,625 Finance lease cost, included in cost of goods: Amortization of lease assets 269,470 278,006 Interest on lease liabilities 56,450 39,931 Total finance lease cost 325,920 317,937 Short-term lease cost - - Total lease cost $ 386,176 $ 385,562 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Right of use asset amortization under our discontinued operations operating agreements were $ 46,289 223,151 Lease amounts of our discontinued operations at October 4, 2023 were as follows: Schedule of lease amounts of discontinued operations October 4, (1) December 31, Weighted-average remaining lease term – operating leases 4.01 4.75 Weighted-average remaining lease term – finance leases 3.49 4.63 Weighted-average discount rate – operating leases 6.0 % 6.0 % Weighted-average discount rate – finance leases 7.5 % 5.5 % (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. Finance lease liabilities were as follows: Schedule of finance lease liabilities October 4, 2023 (1) December 31, Gross finance lease liabilities $ 1,696,301 $ 897,849 Less: imputed interest (207,418 ) (89,939 ) Present value of finance lease liabilities 1,488,883 807,910 Less: current portion (419,073 ) (232,058 ) Long-term finance lease liabilities $ 1,069,810 $ 575,852 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. Operating lease liabilities were as follows: Schedule of operating lease liabilities October 4, 2023 (1) December 31, Gross operating lease liabilities $ 366,918 $ 428,946 Less: imputed interest (43,043 ) (58,782 ) Present value of operating lease liabilities 323,875 370,164 Less: current portion (67,804 ) (62,861 ) Long-term operating lease liabilities $ 256,071 $ 307,303 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. Lease maturities of our discontinued operation were follows: Maturity of lease liabilities Schedule of lease maturities 12 months ending October 4, 2023 (1) Finance leases Operating leases 2024 $ 419,073 $ 67,804 2025 424,735 74,860 2026 388,723 82,475 2027 251,571 90,670 2028 4,781 8,066 Total 1,488,883 323,875 Less: Current maturities (419,073 ) (67,804 ) Long-term liability $ 1,069,810 $ 256,071 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Facilities Operations Segment Disclosures We sold our entire ownership interest in WCI on October 4, 2023. Following the sale, the Company received no new income from WCI and had no further involvement or continuing influence over its operations. Consequently Schedule of segment information Discontinued October 4, 2023 (1) Net sales $ 6,432,907 Operating income (loss) 178,854 Interest income 1 Interest expense 62,770 Property additions 83,062 Fixed asset depreciation and amortization 49,260 Total Assets 3,357,852 December 31, 2022 Net sales $ 7,670,641 Operating income (loss) (830,098 ) Interest income 5 Interest expense 46,321 Property additions 63,089 Fixed asset depreciation and amortization 69,176 Total Assets 3,302,931 Schedule of reconciliation of revenue from segments to consolidated October 4, 2023 (1) December 31, 2022 Operating loss $ 178,854 $ (830,098 ) Realized gain (loss) on investments in securities Employee retention tax credit (WCI) 6,921 1,350,161 Interest income 1 5 Interest expense (62,770 ) (46,321 ) Gain (loss) on equipment disposals - 56,455 Other income 13,139 57,473 Income before income taxes $ 136,145 $ 587,675 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Investment in account receivabl
Investment in account receivable | 12 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
Investment in account receivable | Note 4 – Investment in account receivable On April 10, 2015, the Company entered into an exchange agreement whereby the Company received an investment in an account receivable with annual installment payments of $ 117,000 11 1,287,000 757,059 757,059 1.60 0.10 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 The Company valued the transaction based on the market value of Company common shares exchanged in the transaction, resulting in a 17.87 % discount from the face value of the account receivable or net present value of $ 0.78 ($139,148) on the investment in account receivable at December 31, 2020. The Company reevaluated estimated collections and recorded a loss on this investment of ($41,930) and a gain of $ 22,718 in the year ended December 31, 2021 in other income on the consolidated income statement. On January 10, 2023, the Company received the 2022 annual installment payment of $ 117,000 117,000 The April 10, 2015 account receivable is supported by an exchange agreement and consisted of the following at December 31, 2023 and 2022: Schedule of receivables with imputed interest 2023 2022 Face value $ 285,400 $ 403,600 Impairment - - Unamortized discount (46,551 ) (88,291 ) Net balance 238,849 315,309 Current portion - - Long term portion $ 238,849 $ 315,309 For the years ended December 31, 2023 and 2022, $ 41,741 56,806 Subsequent to year-end, the Company did not receive the 2023 annual installment payment of $ 117,000 |
Note receivable
Note receivable | 12 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
Note receivable | Note 5 – Note receivable On October 4, 2023, in connection with the sale of the Company’s ownership interest in WCI, the Company received a one-year unsecured, subordinated, promissory note in an initial principal face amount of $ 1,000,000 from Ally Waste Services, LLC (“Ally”) at 6 % per annum. The note is recorded at the principal face amount of $ 1,000,000 plus accrued interest of $ 15,000 and $ 0 at December 31, 2023 and 2022, respectively. The note is unsecured, subordinated, and junior in right of payment of the indebtedness of borrowed money and obligations of Ally owed to senior lenders. Subject to the terms of agreements with senior lenders, the note principal plus accrued interest is payable on October 4, 2024. Ally’s failure to pay the principal and accrued interest on October 4, 2024, among other enumerated events of default, will result in the interest rate retroactively increasing to 12 Schedule of Note Receivable December 31, December 31, 2022 October 4, 2023 Ally Waste Services, LLC subordinated promissory note receivable, including accrued interest of $ 15,000 0 6 $ 1,015,000 $ - Total note receivable $ 1,015,000 $ - Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Property and equipment
Property and equipment | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property and equipment | Note 6 - Property and equipment Property and equipment are comprised of the following at December 31, 2023 and 2022: Schedule of property, plant and equipment 2023 2022 Computers $ 33,626 $ 31,335 Furniture and fixtures 14,613 14,613 Machinery and vehicles - - Gross Property and equipment 48,239 45,948 Accumulated depreciation and amortization (46,648 ) (44,942 ) Property and equipment of discontinued operations - 309,777 Accumulated depreciation of discontinued operations - (163,905 ) Net Property and equipment $ 1,591 $ 146,878 Continuing Operations Depreciation and amortization expenses for our continuing operations was $ 1,706 2,078 Discontinued Operation Depreciation and amortization expenses for our discontinued operations were $ 49,260 47,974 16,325 21,204 |
Convertible notes receivable
Convertible notes receivable | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Convertible notes receivable | Note 7 – Convertible notes receivable On November 22, 2017, the Company invested $ 25,000 The note bore interest at 5 25,000 25,000 0.02 On October 31, 2018, the Company invested an additional $ 50,000 5 October 31, 2020 October 31, 2022 50,000 5,132 52,500 0.02 2,161 47,839 Principal and unpaid interest on the Notes could have been converted into a blend of shares of a to-be-created series of Preferred Stock and Common Stock of NeuCourt (i) on the closing of a future financing round of at least $ 750,000 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 On July 15, 2022, the November 22, 2017 and October 31, 2018 convertible notes were exchanged for a Simple Agreement for Future Equity (“SAFE”). Prior to the exchange, the Conversion Price for each Note was the lower of (i) 75% of the price paid in the Next Equity Financing, or the price obtained by dividing a $ 3,000,000 valuation cap by the fully diluted number of shares. The number of Conversion Shares to be issued on conversion was the quotient obtained by dividing the outstanding principal and unpaid accrued interest on a Note to be converted on the date of conversion by the Conversion Price (the “Total Number of Shares”), The Total Number of Shares consisted of Preferred Stock and Common Stock as follows: (i) That number of shares of Preferred Stock obtained by dividing (a) the principal amount of each Note and all accrued and unpaid interest thereunder by (b) the price per share paid by other purchasers of Preferred Stock in the Next Equity Financing (such number of shares, the “Number of Preferred Stock”) and (ii) that number of shares of Common Stock equal to the Total Number of Shares minus the Number of Preferred Stock. On July 15, 2022, the Company and NeuCourt, Inc. entered into an Exchange Agreement by which the $ 25,000 47,839 3,518 9,673 86,030 The valuation cap of the SAFE is $ 3,000,000 75 If, prior to termination, conversion, or expiration of the SAFE, NeuCourt sells a series of preferred stock (“Equity Preferred Stock”) to investors in an equity financing raising not less than $ 500,000 The SAFE will expire and terminate upon the earlier to occur of (i) conversion and (ii) repayment. The SAFE may be repaid by NeuCourt upon sixty (60) days prior notice (“Repayment Notice”) to the Company unless the Company elects during that period to convert the SAFE. If NeuCourt does not close an equity financing round raising $ 500,000 On July 22, 2022, the Company sold $ 989 1,285 83,756 On January 20, 2023, the Company and NeuCourt entered into a SAFE Purchase Agreement by which the Company invested an additional $ 10,000 93,756 93,756 83,756 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Note purchase agreement and con
Note purchase agreement and consulting agreement with G FarmaLabs Limited | 12 Months Ended |
Dec. 31, 2023 | |
Note Purchase Agreement And Consulting Agreement With G Farmalabs Limited | |
Note purchase agreement and consulting agreement with G FarmaLabs Limited | Note 8 - Note purchase agreement and consulting agreement with G FarmaLabs Limited On March 17, 2017, the Company entered into a Notes Purchase Agreement with G FarmaLabs Limited (“G Farma”), a Nevada corporation. Under the Agreement, the Company purchased two secured promissory notes from G Farma in an aggregate principal amount of $ 500,000 7.42 April 15, 2022 990,000 10,239 On February 22, 2019, the City of Corona Building Department closed access to G Farma’s corporate location and posted a notice preventing entry to the facility; the Company was not informed by G Farma of this incident until March 14, 2019. The notice cited unpermitted modifications to electrical, mechanical, and plumbing, including all undetermined building modifications, as the reason for the closure. On April 24, 2019, the Company was notified that certain G Farma assets at the corporate location, including equipment leased to G Farma by Mentor Partner I valued at approximately $ 427,804 G Farma has not made scheduled payments on the notes receivable or the G Farma finance lease receivable since February 19, 2019. All arrangements with G Farma, were placed on non-accrual basis effective April 1, 2019. Accrual of interest on notes receivable and finance leases, as well as consulting revenue, was suspended April 1, 2019. The notes receivable balances of $ 1,039,501 1,039,501 0 0 On November 4, 2020, the Court granted Mentor Capital, Inc.’s and Mentor Partner I’s motion for summary adjudication as to all four causes of action: both causes of action against G FarmaLabs Limited for breach of the two promissory notes totaling $ 1,166,570 On August 27, 2021, the Company and Mentor Partner I entered into a Settlement Agreement and Mutual Release with the G Farma Entities and guarantors (“G Farma Settlors”) to resolve and settle all outstanding claims (“Settlement Agreement”). The Settlement Agreement requires the G Farma Settlors to pay the Company an aggregate of $ 500,000 2,000,000 On October 12, 2021, the parties filed a Stipulation for Dismissal and Continued Jurisdiction with the Superior Court of California in the County of Marin. The Court ordered that it retain jurisdiction over the parties under Section 664.6 of the California Code of Civil Procedure to enforce the Settlement Agreement until the performance in full of its terms is met. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 In August 2022, September 2022, and October 2022, the G Farma Settlors failed to make monthly payments and failed to cure each default within 10 days’ notice from the Company pursuant to the Settlement Agreement. As a result, $ 2,000,000 was added to the amount payable by the G Farma Settlors in accordance with the terms of the Settlement Agreement. The Company and Partner I sought entry of a stipulated judgment against the G Farma Settlors for (1) $ 494,450 500,000 settlement amount, which has not yet been paid by the G Farma Settlors plus $ 2,000,000 and all accrued unpaid interest, (2) the Company’s incurred costs, and (3) attorneys’ fees paid by the Company to obtain the judgment. On July 11, 2023, the Court entered judgment against the G Farma Settlors and in favor of Mentor and Partner I in the amount of $ 2,539,597 2,494,450 40,219 1,643 3,285 10 The Company has retained the full reserve on unpaid notes receivable balance and collections of the unpaid lease receivable balance due to the long history of uncertain payments from G Farma and the G Farma Settlors. Payments from G Farma Settlors will be recognized in Other Income as they are received. Recovery payments of $ 0 3,550 2,539,597 120,370 |
Finance leases receivable
Finance leases receivable | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Finance leases receivable | Note 9 – Finance leases receivable Mentor Partner I Partner I entered into a Master Equipment Lease Agreement with G FarmaLabs Limited and G FarmaLabs DHS, LLC (the “G Farma Lease Entities”) with guarantees by GFBrands, Inc., formerly known as G FarmaBrands, Inc, Ata Gonzalez and Nicole Gonzalez (collectively, the “G Farma Lease Guarantors”) dated January 16, 2018, and amended March 7, April 4, June 20, and September 7, 2018, and March 4, 2019. Partner I acquired and delivered manufacturing equipment as selected by G Farma Lease Entities under sales-type finance leases. As discussed in Notes 1 and 8, on February 22, 2019, the City of Corona Building Department closed access to G Farma’s corporate location; the Company was not informed by G Farma of this incident until March 14, 2019. On April 24, 2019, the Company was informed that certain G Farma assets at its corporate location, including equipment valued at approximately $ 427,804 783,880 19,519 In 2020, the Company repossessed leased equipment under G Farma’s control with a cost of $ 622,569 348,734 On August 27, 2021, the Company and Mentor Partner I entered into a Settlement Agreement and Mutual Release with the G Farma Entities to resolve and settle all outstanding claims, as further discussed in Notes 1, 8, and 18. On October 12, 2021, the parties filed a Stipulation for Dismissal and Continued Jurisdiction with the Superior Court of California in the County of Marin. The Court ordered that it retain jurisdiction over the parties under Section 664.6 of the California Code of Civil Procedure to enforce the Settlement Agreement until the performance in full of its terms is met. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 In August 2022, September 2022, and October 2022, the G Farma Settlors failed to make monthly payments and failed to cure each default within 10 days’ notice from the Company pursuant to the Settlement Agreement. As a result, $ 2,000,000 was added to the amount payable by the G Farma Settlors in accordance with the terms of the Settlement Agreement. The Company and Partner I sought entry of a stipulated judgment against the G Farma Settlors for (1) $ 494,450 500,000 settlement amount, which has not yet been paid by the G Farma Settlors plus $ 2,000,000 and all accrued unpaid interest, (2) the Company’s incurred costs, and (3) attorneys’ fees paid by the Company to obtain the judgment. On July 11, 2023, the Court entered judgment against the G Farma Settlors and in favor of Mentor and Partner I in the amount of $ 2,539,597 , which is comprised of $ 2,494,450 principal (calculated as the aggregate settlement amount, less payments made by the G Farma Settlors, plus the default addition) plus accrued and unpaid interest of $ 40,219 , costs of $ 1,643 , and attorneys’ fees of $ 3,285 incurred by Mentor and Mentor Partner I in connection with obtaining the judgment. The judgment also accrues post-judgment interest at the rate of 10 % from July 11, 2023, until such time as the judgment is paid in full. Net finance leases receivable from G Farma remain fully impaired at December 31, 2023 and 2022. Payment received under this settlement will first be applied against the notes receivable described in Note 8, and if any additional amounts are recovered, they will then be applied against the finance leases receivable. There was no finance lease revenue recognized on Partner I finance leases at December 31, 2023 and 2022, respectively. See Note 18. Net finance leases receivable, non-performing, consist of the following at December 31, 2023 and 2022: Schedule of net finance leases receivable, non-performing 2023 2022 Gross minimum lease payments receivable $ 1,203,404 $ 1,203,404 Less: unearned interest (400,005 ) (400,005 ) Less: reserve for bad debt (803,399 ) (803,399 ) Finance leases receivable $ - $ - Mentor Partner II Partner II entered into a Master Equipment Lease Agreement with Pueblo West, dated February 11, 2018, amended on November 28, 2018 and March 12, 2019. Partner II acquired and delivered manufacturing equipment as selected by Pueblo West under sales-type finance leases. On September 27, 2022, Pueblo West exercised its lease prepayment option and purchased the manufacturing equipment for $ 245,369 Finance lease revenue recognized on Partner II finance leases for the years ended December 31, 2023 and 2022 was $ 0 37,659 |
Contractual interests in legal
Contractual interests in legal recovery | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual interests in legal recovery | Note 10 - Contractual interests in legal recovery Electrum was the plaintiff in a certain legal action captioned Electrum Partners, LLC, Plaintiff, and Aurora Inc., Defendant, On October 30, 2018, Mentor entered into a Recovery Purchase Agreement (“Recovery Agreement”) with Electrum under which Mentor purchased a portion of Electrum’s potential recovery in the Litigation. Mentor agreed to pay $ 100,000 of costs incurred in the Litigation, in consideration for ten percent ( 10 %) of anything of value received by Electrum as a result of the Litigation (“Recovery”) in addition to repayment of its initial investment. As of December 31, 2021, Mentor had invested an additional $ 96,666 9 %) of the Recovery. On November 18, 2022, Electrum repaid $ 196,666 to the Company pursuant to a certain November 14, 2022 Settlement Agreement and Mutual Release, following the Company’s October 21, 2022 lawsuit against Electrum and the escrow agent in the County of San Mateo. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 On October 31, 2018, Mentor also entered into a secured Capital Agreement with Electrum under which Mentor invested an additional $ 100,000 of capital in Electrum. In consideration for Mentor’s investment, Electrum agreed to pay Mentor, on the payment date, the sum of (i) $100,000, (ii) ten percent (10%) of the Recovery, and (iii) 0.083334% of the Recovery for each full month from October 31, 2018 to the payment date for each full month that $833 is not paid to Mentor. Payment was secured by all assets of Electrum. The payment date under the October 31, 2018 Capital Agreement was the earlier of November 1, 2021, or the final resolution of the Litigation . Due to the coronavirus outbreak and the resulting delay in the trial date of the Litigation, on November 1, 2021 the parties amended the October 31, 2018 Capital Agreement for the purpose of extending the payment to the earlier of November 1, 2023, or the final resolution of the Litigation and increased the monthly payment payable by Electrum to $ 834 . On November 18, 2022, Electrum repaid $ 100,000 to the Company pursuant to a certain November 14, 2022 Settlement Agreement and Mutual Release, following the Company’s October 21, 2022 lawsuit against Electrum and the escrow agent in the County of San Mateo. On January 28, 2019, Mentor entered into a second secured Capital Agreement with Electrum. Under the second Capital Agreement, Mentor invested an additional $ 100,000 In consideration for Mentor’s investment, Electrum agreed to pay Mentor on the payment date the sum of (i) $100,000, (ii) ten percent (10%) of the Recovery, and (iii) the greater of (A) 0.083334% of the Recovery for each full month from the date hereof until the payment date if the Recovery occurs prior to the payment date, and (B) $833 for each full month from the date hereof until the payment date. The payment date was the earlier of November 1, 2021, and the final resolution of the Litigation 834 100,000 In addition, the January 28, 2019 Capital Agreement provides that Mentor may, at any time up to and including 90 days following the payment date, elect to convert its 6,198 194,028 19.4 63,324 On or about September 14, 2022, Electrum and Aurora, Inc. settled the Litigation claims and Electrum received CAD $ 800,000 584,000 On November 18, 2022, Electrum repaid $ 459,990 196,666 200,000 63,324 194,028 130,704 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Investments and fair value
Investments and fair value | 12 Months Ended |
Dec. 31, 2023 | |
Investments, All Other Investments [Abstract] | |
Investments and fair value | Note 11 – Investments and fair value The hierarchy of Level 1, Level 2 and Level 3 Assets are listed as follows: Schedule of hierarchy of level 1, level 2 and level 3 assets (Level 1) (Level 2) (Level 3) (Level 3) (Level 3) Fair Value Measurement Using Unadjusted Quoted Market Prices Quoted Prices for Identical or Similar Assets in Active Markets Significant Unobservable Inputs Significant Unobservable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) (Level 3) (Level 3) Investment in Securities Contractual interest Legal Recovery Investment in Common Stock Warrants Other Equity Investments Balance at December 31, 2021 $ 1,009 $ - $ 396,666 $ 1,175 $ 204,028 Total gains or losses Included in earnings (833 ) - - (500 ) - Purchases, issuances, sales, Purchases - - - - 83,756 Issuances - - - - - Sales (176 ) - - - - Settlements - - (396,666 ) - (194,028 ) Balance at December 31, 2022 - $ - $ - $ 675 $ 93,756 Beginning balance - $ - $ - $ 675 $ 93,756 Total gains or losses Included in earnings (2,484 ) - - - - Purchases, issuances, sales, Purchases 649,847 - - - 10,000 Issuances - - - - - Sales - - - - - Settlements - - - - - Balance at December 31, 2023 $ 647,363 - - 675 103,756 Ending balance $ 647,363 - - 675 103,756 The amortized costs, gross unrealized holding gains and losses, and fair values of the Company’s investment securities classified as equity securities, at fair value, at December 31, 2023 consist of the following: Schedule of Investment Securities at Fair Value Type Amortized Costs Gross Unrealized Gains Gross Unrealized Losses Fair Values NYSE-listed company stock $ 649,847 $ - $ (2,484 ) $ 647,363 The portion of unrealized gains and losses for the period related to equity securities still held at the reporting date is calculated as follows: Schedule of portion of unrealized gains and losses related to equity securities 2023 2022 Year Ended December 31, 2023 2022 Net gains and losses recognized during the period on equity securities $ (2,484 ) $ 833 Less: Net gains (losses) recognized during the period on equity securities sold during the period - 833 Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ (2,484 ) $ - Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Common Stock warrants
Common Stock warrants | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Common Stock warrants | Note 12 – Common Stock warrants On August 21, 1998 All Series A, B, C, and D warrants have been called, and as of December 31, 2023, all Series A, B, and C warrants have been exercised. The Company intends to allow warrant holders or Company designees, in place of original holders, additional time as needed to exercise the remaining Series D warrants. The Company may lower the exercise price of all or part of a warrant series at any time. Similarly, the Company could reverse split the stock to raise the stock price above the warrant exercise price. The warrants are specifically not affected and do not split with the shares in the event of a reverse split. If the called warrants are not exercised, the Company has the right to designate the warrants to a new holder in return for a $ 0.10 All Series A and Series C warrants were exercised by December 31, 2014. All Series B warrants were exercised on January 11, 2022. Exercise prices in effect from January 1, 2015 through December 31, 2022 for Series D warrants were $ 1.60 . On October 14, 2023, the Board of Directors of the Company authorized a reset of the Series D warrants strike price to $ 0.02 plus a $ 0.10 per warrant redemption fee, if applicable. In 2009, the Company entered into an Investment Banking agreement with Network 1 Financial Securities, Inc. and a related Strategic Advisory Agreement with Lenox Hill Partners, LLC, with regard to a potential merger with a cancer development company. In conjunction with those related agreements, the Company issued 689,159 7 30 275,647 413,512 7 As of December 31, 2023, and 2022, the weighted average contractual life for all Mentor warrants was 14.5 15.5 0.64 1.94 During the years ended December 31, 2023 and 2022, 2,000,000 90,410 180,200 0 The following table summarizes Series B and Series D common stock warrants as of each period: Schedule of common stock warrants Series B Series D B and D Total Outstanding at December 31, 2021 87,456 6,252,954 6,340,410 Issued - - - Exercised 87,456 2,954 90,410 Outstanding at December 31, 2022 - 6,250,000 6,250,000 Issued - - - Exercised - 2,000,000 2,000,000 Outstanding at December 31, 2023 - 4,250,000 4,250,000 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Series E, F, G, and H warrants were issued for investment banking and advisory services during 2009. Series E, F, and G warrants were exercised in 2014. On November 14, 2022, the 275,647 Series H Warrants of Lenox Hill Partners, LLC were canceled pursuant to a Settlement Agreement. As of December 31, 2023, there were 413,512 Series H ($ 7 ) Warrants outstanding. The following table summarizes Series H ($7) warrants as of each period: Series H $7.00 exercise price Outstanding at December 31, 2021 689,159 Issued - Canceled 275,647 Exercised - Outstanding at December 31, 2022 413,512 Issued - Canceled - Exercised - Outstanding at December 31, 2023 413,512 On February 9, 2015, in accordance with Section 1145 of the United States Bankruptcy Code and the Company’s Third Amended Plan of Reorganization, the Company announced a minimum 30-day partial redemption of up to 1% of the already outstanding Series D warrants to provide for the court specified redemption mechanism for warrants not exercised timely by the original holder or their estates. Company designees that applied during the 30 days paid 10 cents per warrant to redeem the warrant and then exercised the Series D warrant to purchase a share of the Company’s Common stock at the court-specified formula of not more than one-half of the closing bid price on the day preceding the 30-day exercise period. In successive months, the authorized partial warrant redemption amount was recalculated, and the redemption offer was repeated according to the court formula. In the Company’s October 7, 2016 press release, Mentor stated that the 1% redemptions, which were formerly priced on a calendar month schedule, would subsequently be initiated and priced on a random date schedule after the prior 1% redemption was completed to prevent potential third-party manipulation of share prices at month-end. The periodic partial redemptions could continue to be recalculated and repeated until such unexercised warrants are exhausted or the partial redemption is otherwise paused or truncated by the Company. For the years ended December 31, 2023 and 2022, no warrants were redeemed. |
Warrant redemption liability
Warrant redemption liability | 12 Months Ended |
Dec. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Warrant redemption liability | Note 13 – Warrant redemption liability The Plan of Reorganization provides the right for the Company to call, and the Company or its designee to redeem warrants that are not exercised timely, as specified in the Plan, by transferring a $ 0.10 In prior years, Series A, Series B, and Series C redemption fees were distributed through DTCC into holder’s brokerage accounts or directly to the holders. All Series A, Series B, and Series C warrants have been exercised and are no longer outstanding. At December 31, 2021, there were 87,456 87,456 87,456 Once the Series D warrants have been fully redeemed and exercised, the fees for the Series D warrant series will likewise be distributed. Mr. Billingsley has agreed to assume liability for paying these redemption fees and, therefore, warrant redemption fees received are retained by the Company for operating costs. Should Mr. Billingsley be incapacitated or otherwise become unable to pay the warrant redemption fees, the Company will remit the warrant redemption fees to former holders from amounts due to Mr. Billingsley from the Company, which are sufficient to cover the redemption fees at December 31, 2023 and 2022. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Stockholders_ equity
Stockholders’ equity | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Stockholders’ equity | Note 14 – Stockholders’ equity Common Stock The Company was incorporated in California in 1994 and was redomiciled as a Delaware corporation, effective September 24, 2015. There are 75,000,000 0.0001 Issuer Purchases of Equity Securities On August 8, 2014, the Company announced that it was initiating the repurchase of 300,000 300,000 44,748 Preferred Stock Mentor has 5,000,000 0.0001 On July 13, 2017, the Company filed a Certificate of Designation of Rights, Preferences, Privileges and Restrictions of Series Q Preferred Stock (“Certificate of Designation”) with the Delaware Secretary of State to designate 200,000 0.0001 The per share “Series Q Conversion Value,” as defined in the Certificate of Designation, shall be calculated by the Company at least once each calendar quarter as follows: The per share Series Q Conversion Value shall be equal to the quotient of the “Core Q Holdings Asset Value” divided by the number of issued and outstanding shares of Series Q Preferred Stock. The “Core Q Holdings Asset Value” shall equal the value, as calculated and published by the Company, of all assets that constitute Core Q Holdings, which shall include such considerations as the Company designates and need not accord with any established or commonly employed valuation method or considerations. “Core Q Holdings” consists of all proceeds received by the Company on the sale of shares of Series Q Preferred Stock and all securities, acquisitions, and business acquired from such proceeds by the Company. The Company shall periodically, but at least once each calendar quarter, identify, update, account for, and value the assets that comprise the Core Q Holdings. The “Conversion Price” of the Series Q Preferred Stock shall be at the product of 105% and the closing price of the Company’s Common Stock on a date designated and published by the Company. The Series Q Preferred Stock will be available only to accredited, institutional, or qualified investors The Company sold and issued 11 10,000 110,000 245,369 20,843 20,843 no At December 31, 2023 and 2022, the Series Q Preferred Stock could have been converted at the Conversion Price of $ 0.105 and $ 0.063 per Mentor common share, respectively, which would be anti-dilutive and therefore are not included in the weighted average share calculation for these periods. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Accrued salary, accrued retirem
Accrued salary, accrued retirement, and incentive fee – related party | 12 Months Ended |
Dec. 31, 2023 | |
Payables and Accruals [Abstract] | |
Accrued salary, accrued retirement, and incentive fee – related party | Note 15 – Accrued salary, accrued retirement, and incentive fee – related party The Company had an outstanding liability to its Chief Executive Officer (“CEO”) as follows at December 31, 2023 and 2022: Schedule of outstanding liability 2023 2022 Accrued salaries and benefits $ 30,517 $ 914,072 Accrued retirement and other benefits 667,648 501,529 Offset by shareholder advance (261,653 ) (261,653 ) Total outstanding liability $ 436,512 $ 1,153,948 As approved by resolution of the Board of Directors in 1998, the CEO will be paid an incentive fee and a bonus, which are payable in installments at the CEO’s option. The incentive fee is 1 260,000 0.5 1 8 4 no |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related party transactions | Note 16 – Related party transactions On August 10, 2023, Mentor received a $ 50,000 7.8 545 On March 12, 2021, Mentor received a $ 100,000 7.8 100,000 50,000 28,024 On August 2, 2023, Mentor called a $ 1,080,000 3,591 66,712 1,016,879 2,259,732 0.45 1,016,879 Distinguishing Liabilities from Equity Overall 1,016,879 2,259,732 The note was payable on demand, and the other WCI stockholder was permitted to utilize any of his remaining Mentor warrants as currency to partially repay the loan at a rate of $ 0.45 0.42 380,000 700,000 WCI deferred fees represented deferred administrative fees relating to the paid $ 1,080,000 2,667 318,667 On October 4, 2023, we sold off our majority, controlling 51 6,000,000 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | Note 18 – Commitments and contingencies On May 28, 2019 622,670 249,481 On November 4, 2020, the Court granted Mentor Capital, Inc.’s and Mentor Partner I’s motion for summary adjudication as to both causes of action against G FarmaLabs Limited for liability for breach of the two promissory notes and one cause of action against each of Mr. Gonzalez, and Ms. Gonzalez related to their duties as guarantors of G FarmaLabs Limited’s obligations under the promissory notes. On August 27, 2021, the Company and Mentor Partner I entered into a Settlement Agreement and Mutual Release with the G Farma Entities and guarantors (collectively, “G Farma Settlors”) to resolve and settle all outstanding claims (“Settlement Agreement”). The Settlement Agreement requires the G Farma Settlors to pay the Company an aggregate of $ 500,000 2,000,000 On October 12, 2021, the parties filed a Stipulation for Dismissal and Continued Jurisdiction with the Superior Court of California in the County of Marin. The Court ordered that it retain jurisdiction over the parties under Section 664.6 of the California Code of Civil Procedure to enforce the Settlement Agreement until the performance in full of its terms is met. In August, September, and October 2022, the G Farma Settlors failed to make monthly payments and failed to cure each default within 10 days’ notice from the Company pursuant to the Settlement Agreement. As a result, $ 2,000,000 494,450 500,000 2,000,000 2,539,597 2,494,450 40,219 1,643 3,285 10 The Company has retained the full reserve on the unpaid notes receivable balance and collections of the unpaid lease receivable balance due to the long history of uncertain payments from G Farma and the G Farma Settlors. Payments from the G Farma Settlors will be recognized in Other Income as they are received. Recovery payments of $ 0 3,550 2,539,597 120,370 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2023 | |
Segment Reporting [Abstract] | |
Segment Information | Note 19 – Segment Information Continuing Operations The Company is an operating, acquisition, and investment business. Subsidiaries in which the Company has a controlling financial interest are consolidated. The Company generally has two Schedule of segment information Energy Segment Historic Segment Corporate, Other, and Eliminations Consolidated 2023 Net sales $ - $ - $ - $ - Operating income (loss) - (1,305 ) (1,773,905 ) (1,775,210 ) Interest income 5,292 - 69,488 74,780 Interest expense - - 15,847 15,847 Property additions - - 2,291 2,291 Fixed asset depreciation and amortization - - 1,706 1,706 Total Assets 647,363 2,472 3,797,006 4,446,841 2022 Net sales $ - $ 37,659 $ (2,585 ) $ 35,074 Operating income (loss) - 32,909 (493,235 ) (460,326 ) Interest income - - 58,726 58,726 Interest expense - - 33,878 33,878 Property additions - - - - Fixed asset depreciation and amortization - - 2,079 2,079 Total Assets - 1,000 4,992,892 4,993,892 The following table reconciles operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes for the years ended December 31, 2023 and 2022, as presented in the consolidated income statements: Schedule of reconciliation of revenue from segments to consolidated 2023 2022 Operating loss $ (1,775,210 ) $ (460,326 ) Realized gain (loss) on investments in securities 4,802,905 (170,418 ) Interest income 74,780 58,726 Interest expense (15,847 ) (33,878 ) Other income 1,291 555 Income before income taxes $ 3,087,919 $ (605,342 ) Discontinued Operation – Facilities Operations Segment As disclosed in Note 3 of the consolidated financial statements, we sold our entire ownership interest in WCI on October 4, 2023 for $ 6,000,000 . Following our sale of WCI, we received no new income from WCI and had no further involvement or continuing influence over its operations. Consequently , our facilities operations segment was eliminated at the time of sale. Additionally, the results of operations associated with our facilities operations segment were excluded from our continuing operations and presented as a discontinued operation in our consolidated financial statements. WCI worked with business park owners, governmental centers, and apartment complexes to reduce their facility-related operating costs. The WCI segment is now reported as a discontinued operation. See Note 3 of the consolidated financial statements for detailed financial information on our former facilities operations segment. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Income tax
Income tax | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income tax | Note 20 – Income tax The provision (benefit) for income taxes for the years ended December 31, 2023 and 2022 consist of the following: Schedule of components of income tax expense (benefit) 2023 2022 Current taxes from continuing operations: Federal $ - $ - State 8,160 6,768 Total current 8,160 6,768 Taxes from discontinued operations (1): Federal (1) 5,783 7,615 State (1) 5,783 7,615 Tax provision from discontinued operations (1) 13,943 14,838 Deferred tax asset: Federal (273,400 ) 107,700 State 1,100 18,300 Change in valuation (272,300 ) (126,000 ) Total provision (benefit) $ 13,943 $ 14,383 (1) We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. The Company has net deferred tax assets resulting from a timing difference in recognition of depreciation and reserves for uncollectible accounts receivable and from net operating loss carryforwards. At December 31, 2023, the Company had approximately $ 6,300,000 3,500,000 2,800,000 6,500,000 The income tax provision (benefit) differs from the amount computed by applying the U.S. federal statutory corporate income tax rate of 21 Schedule of income tax rate reconciliation 2023 2022 Net income (loss) before income tax - continuing operations $ 3,087,919 $ (605,342 ) US federal income tax rate 21 % 21 % Computed expected tax (benefit) - continuing operations 648,463 (127,122) Net Income (loss) before income tax - discontinued operations (1) 83,682 252,800 US federal income tax rate (1) 21% 21% Computed expected tax (benefit) - discontinued operations (1) 17,573 53,088 Total computed expected tax (benefit) (1) 666,036 (74,034) Permanent differences and other (393,736) 200,034 Change in valuation (272,300) (126,000) Federal income tax provision $ - $ - (1) We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 The significant components of deferred income tax assets as of December 31, 2023 and 2022 after applying enacted corporate income tax rates are as follows: Schedule of deferred tax assets 2023 2022 Net Operating Losses carried forward from continuing operations $ 1,913,000 $ 1,851,100 Capital Losses carried forward 156,600 371,200 Deferred - Other - 62,500 Valuation allowance (2,069,600 ) (2,284,800 ) Deferred tax assets $ - $ - 2023 2022 Net Operating Losses carried forward from discontinued operations (1) $ - $ 57,100 Capital Losses carried forward - - Valuation allowance - (57,100) Deferred tax assets $ - $ - (1) We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. The Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. All tax years from 2019 to 2022 are subject to examination. |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent events | Note 21 – Subsequent events Subsequent to year end, the Company did not receive a 2023 annual installment payment of $ 117,000 116,430 41,930 |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying consolidated financial statements and related notes include the activity of subsidiaries in which a controlling financial interest is owned. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Significant intercompany balances and transactions have been eliminated in consolidation. As shown in the accompanying financial statements, the Company has an accumulated deficit of ($ 8,187,807 |
Ongoing Capital Formation | Ongoing Capital Formation The Company will endeavor to raise additional capital to fund its acquisitions from both related and unrelated parties to generate increasing growth and revenues. The Company has 4,250,000 0.02 Management’s plans include increasing revenues through acquisition, investment, and organic growth. Management anticipates funding new activities by raising additional capital through the sale of equity securities and debt. |
Impact Related to Endemic Factors | Impact Related to Endemic Factors COVID-19 and the measures taken by many countries in response have adversely affected and could, in the future, materially adversely impact the Company’s business, acquisition plans, results of operations, financial condition, and stock price. Although we have not yet been materially adversely affected as of December 31, 2023, our future financial condition may be materially and adversely impacted as a result of the ongoing worldwide economic situation, economic sanctions, the impact of inflation, interest rate increases, tax increases, tariff increases, recession, climate regulation, cybersecurity risks, evolving and sophisticated cyber-attacks and other attempts to gain access to our information technology systems, increased risk to oil markets, potential banking crises, the outbreak of war in Ukraine, the Israel-Hamas war, future weakness in the credit markets, increased rates of default and bankruptcy, political change, and significant liquidity problems for the financial services industry. For example, our current or potential customers, or the current or potential customers of our partners or affiliates, may delay or decrease spending with us, may not pay us, or may delay paying us for previously purchased products and services. Also, we, or our partners or affiliates, may have difficulties in securing additional financing. Additionally, the collectability of our investment in account receivable was impaired by $ 116,430 41,930 , see Note 4. Supply chain disruptions, inflation, interest rate increases, tax increases, recession, high energy prices, and supply-demand imbalances are expected to continue in 2024. We anticipate that current cash and associated resources will be sufficient for us to execute our business plan for five years after the date these financial statements are issued. The ultimate impact of COVID-19, the outbreak of war in Ukraine, the Israel-Hamas war, potential cyber-attacks, inflation, interest rate increases, tax increases, and a potential recession on our business, results of operations, cybersecurity, financial condition, and cash flows are dependent on future developments, which are uncertain and cannot be predicted at this time. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Segment reporting | Segment reporting Continuing operations The Company has determined that there are currently two reportable segments: 1) the historic residual medical operations segment and 2) the Company’s energy segment. Discontinued operation On October 4, 2023, the Company’s facilities operations segment was sold. Following the sale, the Company received no new income from WCI and had no further involvement or continuing influence over its operations. As a result, our facilities operations segment was deconsolidated on the date of the sale, and our former facilities operations segment was reported as a discontinued operation. See Note 3. |
Use of estimates | Use of estimates The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates, assumptions, and judgments that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of our consolidated financial statements, and the reported amount of revenues and expenses during the reporting period. Significant estimates relied upon in preparing these consolidated financial statements include revenue recognition, accounts and notes receivable reserves, expected future cash flows used to evaluate the recoverability of long-lived assets, estimated fair values of long-lived assets used to record impairment charges related to investments, goodwill, amortization periods, accrued expenses, and recoverability of the Company’s net deferred tax assets and any related valuation allowance. Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known. Acquisitions and divestitures are not announced until certain. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results may differ from management’s estimates if past experience or other assumptions do not turn out to be substantially accurate. |
Recent Accounting Standards | Recent Accounting Standards From time to time, the FASB, or other standards-setting bodies, issue new accounting pronouncements. Updates to the FASB Accounting Standard Codifications (“ASCs”) are communicated through the issuance of an Accounting Standards Update (“ASU”). Unless otherwise discussed, we believe that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected to have a material impact on our consolidated financial statements upon adoption. Simplifying the Accounting for Income Taxes Simplifying the Accounting for Income Taxes |
Concentrations of cash | Concentrations of cash The Company maintains its cash and cash equivalents in bank deposit accounts, which at times may exceed federally insured Federal Deposit Insurance Corporation limits. The Company has not experienced any losses in such accounts, nor does the Company believe it is exposed to any significant credit risk on cash and cash equivalents. The Company will continue to monitor its accounts and the banking sector for potential financial institution risk. |
Cash and cash equivalents | Cash and cash equivalents The Company considers all short-term debt securities purchased with a maturity of three months or less to be cash equivalents. The Company had no Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Accounts receivable | Accounts receivable Accounts receivables consist of trade accounts arising in the normal course of business and are classified as current assets and carried at original invoice amounts less an estimate for doubtful receivables based on historical losses as a percent of revenue in conjunction with a review of outstanding balances on a quarterly basis. The estimate of allowance for doubtful accounts is based on the Company’s bad debt experience, market conditions, and aging of accounts receivable, among other factors. If the financial condition of the Company’s customers deteriorates, resulting in the customer’s inability to pay the Company’s receivables as they come due, additional allowances for doubtful accounts will be required. At December 31, 2023 and 2022, the Company had no |
Investments in securities at fair value | Investments in securities at fair value Investment in securities consists of debt and equity securities reported at fair value. Under ASU 2016-01, “ Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities |
Long term investments | Long term investments The Company’s investments in entities where it is a minority owner and does not have the ability to exercise significant influence are recorded at fair value if readily determinable. If the fair market value is not readily determinable, the investment is recorded under the cost method. Under this method, the Company’s share of the earnings or losses of such investee company is not included in the Company’s financial statements. The Company reviews the carrying value of its long-term investments for impairment each reporting period. |
Investments in debt securities | Investments in debt securities At December 31, 2023 and December 31, 2022, the Company held no investments in debt securities. The Company’s former investment in debt securities consisted of two convertible notes receivable from NeuCourt, Inc. On July 15, 2022, all principal and accrued interest on the notes were converted into a Simple Agreement for Future Equity (“SAFE”). At December 31, 2023 and 2022, the SAFE Purchase Amount was $ 93,756 83,756 |
Investment in account receivable, net of discount | Investment in account receivable, net of discount The Company’s investments in accounts receivable is stated at face value, net of unamortized purchase discount. The discount is amortized to interest income over the term of the exchange agreement. In the fourth quarter of 2020, we were notified that due to the effect of COVID-19 on the estimated receivable, we may not receive the 2020 installment payment or the full 2021 installment payment. Due to a reduction in expected collections, the collectability of our investment in account receivable was impaired by $ 116,430 41,930 On January 10, 2023, the Company received the 2022 annual installment payment of $ 117,000 117,000 |
Credit quality of notes receivable and finance leases receivable and credit loss reserve | Credit quality of notes receivable and finance leases receivable and credit loss reserve As our notes receivable and finance leases receivable are limited in number, our management is able to analyze estimated credit loss reserves based on a detailed analysis of each receivable as opposed to using portfolio-based metrics. Our management does not use a system of assigning internal risk ratings to each of our receivables. Rather, each note receivable and finance lease receivable are analyzed quarterly and categorized as either performing or non-performing based on certain factors including, but not limited to, financial results, satisfying scheduled payments, and compliance with financial covenants. A note receivable or finance lease receivable will be categorized as non-performing when a borrower experiences financial difficulty and has failed to make scheduled payments. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Property and equipment | Property and equipment Property and equipment are recorded at cost less accumulated depreciation. Depreciation is computed using the declining balance method over the estimated useful lives of various classes of property. The estimated lives of the property and equipment are generally as follows: computer equipment, 3 5 7 4 5 Expenditures for major renewals and improvements are capitalized, while minor replacements, maintenance, and repairs, which do not extend the asset lives, are charged to operations as incurred. Upon sale or disposition, the cost and related accumulated depreciation are removed from the accounts, and any gain or loss is included in operations. The Company continually monitors events and changes in circumstances that could indicate that the carrying balances of its property and equipment may not be recoverable in accordance with the provisions of ASC 360, “Property, Plant, and Equipment.” The Company reviews intangible assets subject to amortization quarterly to determine if any adverse conditions exist or if a change in circumstances has occurred that would indicate impairment or a change in the remaining useful life. Conditions that may indicate impairment include, but are not limited to, a significant adverse change in legal factors or business climate that could affect the value of an asset, a product recall, or an adverse action or assessment by a regulator. If an impairment indicator exists, we test the intangible asset for recoverability. For purposes of the recoverability test, we group our amortizable intangible assets with other assets and liabilities at the lowest level of identifiable cash flows if the intangible asset does not generate cash flows independent of other assets and liabilities. If the carrying value of the intangible asset (asset group) exceeds the undiscounted cash flows expected to result from the use and eventual disposition of the intangible asset (asset group), the Company will write the carrying value down to the fair value in the period identified. |
Lessee Leases | Lessee Leases We determine whether an arrangement is a lease at inception. Lessee leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria is met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset or the present value of the lease payments equals or exceeds substantially all of the fair value of the asset. A lease is classified as an operating lease if it does not meet any one of these criteria. Our operating leases are comprised of office space leases and office equipment. Fleet vehicle leases entered into prior to January 1, 2019, are classified as operating leases based on an expected lease term of 4 5 1 48 Costs associated with operating lease assets were recognized on a straight-line basis over the term of the lease, within cost of goods sold for vehicles used in direct servicing of our discontinued operation customers and in operating expenses for costs associated with all other operating leases. Finance lease assets were amortized within the cost of goods sold for vehicles used in direct servicing of our discontinued operation customers and within operating expenses for all other finance lease assets on a straight-line basis over the shorter of the estimated useful lives of the assets or the lease term. The interest component of a finance lease was included in interest expense and recognized using the effective interest method over the lease term. Our discontinued operation had agreements that contained both lease and non-lease components. For vehicle fleet operating leases, we accounted for lease components together with non-lease components (e.g., maintenance fees). Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Goodwill | Goodwill On October 4, 2023, the Company sold the entirety of its interest in Waste Consolidators, Inc. (“WCI”) by entering into a Stock Purchase Agreement whereby the shareholders of WCI sold all of the outstanding shares of stock to Ally Waste Services, LLC. Following the sale, the Company received no new income from WCI and had no further involvement or continuing influence over its operations. Prior to the sale, goodwill of $ 1,324,142 was derived from consolidating WCI effective January 1, 2014, and $ 102,040 of goodwill was derived from the 2003 acquisition of a 50 % interest in WCI. In accordance with ASC 350, “Intangibles-Goodwill and Other,” “Discontinued Operations 1,426,182 goodwill to be reduced to $ 0 and the results of operations and assets and liabilities for our facilities operations segment were excluded from our continuing operations and presented as a discontinued operation in our consolidated financial statements. As a result, goodwill in an aggregate amount of $ 1,426,182 was reduced to $ 0 . No goodwill is reported in the Company’s condensed consolidated balance sheets at December 31, 2023 and 2022. |
Revenue recognition | Revenue recognition The Company recognizes revenue in accordance with ASC 606, “ Revenue from Contracts with Customers Leases The discontinued operation that we sold on October 4, 2023, worked with business park owners, governmental centers, and apartment complexes to reduce facilities-related costs. Our discontinued operation performed monthly services pursuant to agreements with customers. Customer monthly service fees were based on our discontinued operation’s assessment of the amount and frequency of monthly services requested by a customer. Our discontinued operation may have also provided additional services, such as apartment cleanout services, large item removals, or similar services, on an as-needed basis at an agreed-upon rate as requested by customers. All services were invoiced and recognized as revenue in the month the agreed-on services were performed. Our discontinued operation is deconsolidated and presented as a “discontinued operation” at December 31, 2023 and at December 31, 2022, the prior reporting period. For each finance lease, the Company recognized as a gain the amount equal to (i) the net investment in the finance lease less (ii) the net book value of the equipment at the inception of the applicable lease. At lease inception, we capitalized the total minimum finance lease payments receivable from the lessee, the estimated unguaranteed residual value of the equipment at lease termination, if any, and the initial direct costs related to the lease, less unearned income. Unearned income was recognized as finance income over the term of the lease using the effective interest rate method. The Company, through its subsidiaries Mentor Partner I, LLC and Mentor Partner II, LLC, was the lessor of manufacturing equipment subject to leases under master leasing agreements. The leases contained an element of dealer profit, and the lessee bargained purchase options at prices substantially below the subject assets’ estimated residual values at the exercise date for the options. Consequently, the Company classified the leases as sales-type leases (the “finance leases”) for financial accounting purposes. For such finance leases, the Company reported the discounted present value of (i) future minimum lease payments (including the bargain purchase option, if any) and (ii) any residual value not subject to a bargain purchase option as a finance lease receivable on its balance sheet and accrued interest on the balance of the finance lease receivable based on the interest rate inherent in the applicable lease over the term of the lease. For each finance lease, the Company recognized revenue in an amount equal to the net investment in the lease and cost of sales equal to the net book value of the equipment at the inception of the applicable lease. |
Basic and diluted income (loss) per common share | Basic and diluted income (loss) per common share We compute net income or loss per share in accordance with ASC 260, “ Earnings Per Share There were 4,250,000 2,887,821 7,000,000 as of December 31, 2022. Assumed conversion of Series Q Preferred Stock into Common Stock would be anti-dilutive as of December 31, 2023 and 2022 and is not included in calculating the diluted weighted average number of shares outstanding. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 |
Income taxes | Income taxes The Company accounts for income taxes in accordance with accounting guidance now codified as FASB ASC 740, “ Income Taxes The Company applies the provisions of ASC 740, “ Accounting for Uncertainty in Income Taxes. |
Fair value measurements | Fair value measurements The Company adopted ASC 820, “ Fair Value Measurement,” The Fair Value Measurements and Disclosure Topic establishes a fair value hierarchy, which prioritizes the valuation inputs into three broad levels. These three general valuation techniques that may be used to measure fair value are as follows: Market approach (Level 1) – which uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Prices may be indicated by pricing guides, sale transactions, market trades, or other sources. Cost approach (Level 2) – which is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost); and the Income approach (Level 3) – which uses valuation techniques to convert future amounts to a single present amount based on current market expectations about the future amounts (including present value techniques, and option-pricing models). Net present value is an income approach where a stream of expected cash flows is discounted at an appropriate market interest rate. Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 The carrying amounts of cash, accounts receivable, prepaid expenses and other current assets, accounts payable, customer deposits, and other accrued liabilities approximate their fair value due to the short-term nature of these instruments. The fair value of available-for-sale investment securities is based on quoted market prices in active markets. The fair value of the investment in account receivable is based on the net present value of calculated interest and principal payments. The carrying value approximates fair value as interest rates charged are comparable to market rates for similar investments. The fair value of notes receivable is based on the net present value of calculated interest and principal payments. The carrying value approximates fair value as interest rates charged are comparable to market rates for similar notes. The fair value of long-term notes payable is based on the net present value of calculated interest and principal payments. The carrying value of long-term debt approximates fair value due to the fact that the interest rate on the debt is based on market rates. |
Nature of operations (Tables)
Nature of operations (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of List of Subsidiaries | Schedule of List of Subsidiaries Name of Subsidiary % of ownership State in which Incorporated Mentor IP, LLC 100% South Dakota Mentor Partner I, LLC 100% Texas Mentor Partner II, LLC 100% Texas TWG, LLC 100% Texas |
Discontinued operation (Tables)
Discontinued operation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Schedule of property, plant and equipment | Property and equipment are comprised of the following at December 31, 2023 and 2022: Schedule of property, plant and equipment 2023 2022 Computers $ 33,626 $ 31,335 Furniture and fixtures 14,613 14,613 Machinery and vehicles - - Gross Property and equipment 48,239 45,948 Accumulated depreciation and amortization (46,648 ) (44,942 ) Property and equipment of discontinued operations - 309,777 Accumulated depreciation of discontinued operations - (163,905 ) Net Property and equipment $ 1,591 $ 146,878 |
Discontinued Operations [Member] | |
Schedule of Equity Interest at the Acquisition Date Fair Value | Schedule of Equity Interest at the Acquisition Date Fair Value Cash to acquire an additional 1% equity interest in WCI $ 25,000 Fair value of 50% interest (a) 1,250,000 Investment under the equity method - Total purchase price to be allocated $ 1,275,000 (a) The estimated fair value of Mentor’s previously held equity interest in WCI is valued at 1.25 times WCI’s projected 2014 revenue. |
Schedule of Purchase Price Allocation | Purchase price allocation at 51% of WCI assets and liabilities: Schedule of Purchase Price Allocation 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 |
Schedule of gain on sale of WCI | Schedule of gain on sale of WCI Cost basis of WCI Purchase price allocation at 51% WCI assets and liabilities 1,275,000 Net investment in 51% earnings 326,735 Net investment in distributions (407,124 ) Total WCI Cost Basis $ 1,194,611 Sale price of WCI Payment at Closing 5,000,000 Promissory Note Receivable 1,000,000 Total WCI Sale Price $ 6,000,000 Gain on sale of WCI WCI sale price 6,000,000 Less WCI cost basis (1,194,611 ) Total gain on sale of WCI $ 4,805,389 |
Schedule of balance sheet | The following is a summary of the assets and liabilities that were sold effective October 4, 2023, and a reconciliation of the assets and liabilities disclosed in the notes to financial statements that are presented as a discontinued operation on the consolidated balance sheet as of December 31, 2022: Schedule of balance sheet October 4, December 31, 2023 (1) 2022 ASSETS Current assets: Cash and cash equivalents $ 369,387 $ 506,499 Accounts receivable 786,617 686,870 Other current assets 19,027 233,255 Total current assets sold - discontinued operation 1,169,030 1,426,625 Property and equipment 179,673 145,872 Goodwill (2) 102,040 102,040 Prepaid Admin Fee – Mentor - 337,333 Security deposit 22,477 25,575 Right of use asset 1,884,632 1,265,486 Total noncurrent assets sold - discontinued operation 2,009,149 1,730,434 Total assets $ 3,357,852 $ 3,302,931 LIABILITIES AND NET ASSETS Current liabilities: Accounts -payable trade $ 38,530 $ 24,557 Finance lease liability - current 419,073 232,058 Accrued expenses 597,217 639,373 Total current liabilities sold - discontinued operation 1,054,820 895,988 EIDL loan payable 51,797 161,060 Note payable - Mentor - 1,081,323 Long term debt - 83,876 Finance lease liability – long-term 1,069,810 575,852 Operating lease liability - long-term 256,071 370,164 Total noncurrent liabilities sold - discontinued operation 1,377,677 2,272,274 Total liabilities 2,432,497 3,168,262 Total net assets of discontinued operation $ 925,355 $ 134,669 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. (2) Effective upon the date of sale, October 4, 2023, we deconsolidated our discontinued operation and goodwill of $ 102,040 |
Schedule of disposal groups, including discontinued operations | The following is a reconciliation of the major classes of financial statement line items constituting net income (loss) from discontinued operations before tax from WCI, our discontinued operation, that is disclosed in the notes to the financial statements and presented in the consolidated statements of net (loss) income for fiscal years December 31, 2023 and 2022: Schedule of disposal groups, including discontinued operations December 31, 2023 December 31, Revenue $ - $ 35,074 Cost of sales - - Gross profit - 35,074 Selling, general and administrative expenses 1,775,210 495,400 Operating income (loss) (1,775,210 ) (460,326 ) Total other income and (expense) (1) 4,863,129 (145,016 ) Income (loss) before provision for income taxes $ 3,087,919 (605,342 ) Provision for income taxes (8,160 ) (6,768 ) Net income (loss) from continued operations 3,079,759 (612,110 ) Net income (loss) from discontinued operations 77,899 245,185 Net income (loss) 3,157,658 (366,925 ) Gain (loss) attributable to non-controlling interest - (104,461 ) Net income (loss) attributable to Mentor 3,157,658 (471,386 ) (1) During fiscal year 2023, we recognized a $ 4,805,389 |
Schedule of lease liability | Schedule of lease liability Maturity of lease liabilities October 4, 2023 (1) Finance leases Operating leases 2024 419,073 67,804 2025 424,735 74,860 2026 388,723 82,475 2027 251,571 90,670 2028 4,781 8,066 Total 1,488,883 323,875 Less: Present value discount (419,073 ) (67,804 ) Total lease liabilities $ 1,069,810 $ 256,071 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of other receivable | Other receivable consisted of the following: Schedule of other receivable October 4, 2023 December 31, Employee retention tax credits $ - $ - Accrued sales tax receivable from customers * 20,374 237,243 Other - (6,921 ) Total other receivable $ 20,374 $ 230,322 * At December 31, 2022, we estimated that our discontinued operation’s accrued sales tax receivable was $ 237,243 285,128 206,671 20,374 |
Schedule of property, plant and equipment | Property and equipment for our discontinued operation were comprised of the following on October 4, 2023, and December 31, 2022: Schedule of property, plant and equipment October 4, 2023 (1) December 31, Computers $ - $ - Furniture and fixtures 12,761 12,761 Machinery and vehicles 380,077 297,016 Gross Property and equipment 392,838 309,777 Accumulated depreciation and amortization (213,165 ) (163,905 ) Property and equipment of discontinued operations Accumulated depreciation of discontinued operations Net Property and equipment $ 179,673 $ 145,872 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of lease costs recognized in consolidated statements of operations | Our discontinued operation’s lease costs no longer recognized in our consolidated income statements were as follows: Schedule of lease costs recognized in consolidated statements of operations October 4, (1) December 31, Operating lease cost included in cost of goods $ - $ 13,054 Operating lease cost included in operating costs 60,256 54,571 Total operating lease cost (1) 60,256 67,625 Finance lease cost, included in cost of goods: Amortization of lease assets 269,470 278,006 Interest on lease liabilities 56,450 39,931 Total finance lease cost 325,920 317,937 Short-term lease cost - - Total lease cost $ 386,176 $ 385,562 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of lease amounts of discontinued operations | Lease amounts of our discontinued operations at October 4, 2023 were as follows: Schedule of lease amounts of discontinued operations October 4, (1) December 31, Weighted-average remaining lease term – operating leases 4.01 4.75 Weighted-average remaining lease term – finance leases 3.49 4.63 Weighted-average discount rate – operating leases 6.0 % 6.0 % Weighted-average discount rate – finance leases 7.5 % 5.5 % (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of finance lease liabilities | Finance lease liabilities were as follows: Schedule of finance lease liabilities October 4, 2023 (1) December 31, Gross finance lease liabilities $ 1,696,301 $ 897,849 Less: imputed interest (207,418 ) (89,939 ) Present value of finance lease liabilities 1,488,883 807,910 Less: current portion (419,073 ) (232,058 ) Long-term finance lease liabilities $ 1,069,810 $ 575,852 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of operating lease liabilities | Operating lease liabilities were as follows: Schedule of operating lease liabilities October 4, 2023 (1) December 31, Gross operating lease liabilities $ 366,918 $ 428,946 Less: imputed interest (43,043 ) (58,782 ) Present value of operating lease liabilities 323,875 370,164 Less: current portion (67,804 ) (62,861 ) Long-term operating lease liabilities $ 256,071 $ 307,303 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of lease maturities | Maturity of lease liabilities Schedule of lease maturities 12 months ending October 4, 2023 (1) Finance leases Operating leases 2024 $ 419,073 $ 67,804 2025 424,735 74,860 2026 388,723 82,475 2027 251,571 90,670 2028 4,781 8,066 Total 1,488,883 323,875 Less: Current maturities (419,073 ) (67,804 ) Long-term liability $ 1,069,810 $ 256,071 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of segment information | Schedule of segment information Discontinued October 4, 2023 (1) Net sales $ 6,432,907 Operating income (loss) 178,854 Interest income 1 Interest expense 62,770 Property additions 83,062 Fixed asset depreciation and amortization 49,260 Total Assets 3,357,852 December 31, 2022 Net sales $ 7,670,641 Operating income (loss) (830,098 ) Interest income 5 Interest expense 46,321 Property additions 63,089 Fixed asset depreciation and amortization 69,176 Total Assets 3,302,931 |
Schedule of reconciliation of revenue from segments to consolidated | Schedule of reconciliation of revenue from segments to consolidated October 4, 2023 (1) December 31, 2022 Operating loss $ 178,854 $ (830,098 ) Realized gain (loss) on investments in securities Employee retention tax credit (WCI) 6,921 1,350,161 Interest income 1 5 Interest expense (62,770 ) (46,321 ) Gain (loss) on equipment disposals - 56,455 Other income 13,139 57,473 Income before income taxes $ 136,145 $ 587,675 (1) Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Investment in account receiva_2
Investment in account receivable (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
Schedule of receivables with imputed interest | The April 10, 2015 account receivable is supported by an exchange agreement and consisted of the following at December 31, 2023 and 2022: Schedule of receivables with imputed interest 2023 2022 Face value $ 285,400 $ 403,600 Impairment - - Unamortized discount (46,551 ) (88,291 ) Net balance 238,849 315,309 Current portion - - Long term portion $ 238,849 $ 315,309 |
Note receivable (Tables)
Note receivable (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
Schedule of Note Receivable | Schedule of Note Receivable December 31, December 31, 2022 October 4, 2023 Ally Waste Services, LLC subordinated promissory note receivable, including accrued interest of $ 15,000 0 6 $ 1,015,000 $ - Total note receivable $ 1,015,000 $ - |
Property and equipment (Tables)
Property and equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property, plant and equipment | Property and equipment are comprised of the following at December 31, 2023 and 2022: Schedule of property, plant and equipment 2023 2022 Computers $ 33,626 $ 31,335 Furniture and fixtures 14,613 14,613 Machinery and vehicles - - Gross Property and equipment 48,239 45,948 Accumulated depreciation and amortization (46,648 ) (44,942 ) Property and equipment of discontinued operations - 309,777 Accumulated depreciation of discontinued operations - (163,905 ) Net Property and equipment $ 1,591 $ 146,878 |
Finance leases receivable (Tabl
Finance leases receivable (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Schedule of net finance leases receivable, non-performing | Net finance leases receivable, non-performing, consist of the following at December 31, 2023 and 2022: Schedule of net finance leases receivable, non-performing 2023 2022 Gross minimum lease payments receivable $ 1,203,404 $ 1,203,404 Less: unearned interest (400,005 ) (400,005 ) Less: reserve for bad debt (803,399 ) (803,399 ) Finance leases receivable $ - $ - |
Investments and fair value (Tab
Investments and fair value (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Investments, All Other Investments [Abstract] | |
Schedule of hierarchy of level 1, level 2 and level 3 assets | The hierarchy of Level 1, Level 2 and Level 3 Assets are listed as follows: Schedule of hierarchy of level 1, level 2 and level 3 assets (Level 1) (Level 2) (Level 3) (Level 3) (Level 3) Fair Value Measurement Using Unadjusted Quoted Market Prices Quoted Prices for Identical or Similar Assets in Active Markets Significant Unobservable Inputs Significant Unobservable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) (Level 3) (Level 3) Investment in Securities Contractual interest Legal Recovery Investment in Common Stock Warrants Other Equity Investments Balance at December 31, 2021 $ 1,009 $ - $ 396,666 $ 1,175 $ 204,028 Total gains or losses Included in earnings (833 ) - - (500 ) - Purchases, issuances, sales, Purchases - - - - 83,756 Issuances - - - - - Sales (176 ) - - - - Settlements - - (396,666 ) - (194,028 ) Balance at December 31, 2022 - $ - $ - $ 675 $ 93,756 Beginning balance - $ - $ - $ 675 $ 93,756 Total gains or losses Included in earnings (2,484 ) - - - - Purchases, issuances, sales, Purchases 649,847 - - - 10,000 Issuances - - - - - Sales - - - - - Settlements - - - - - Balance at December 31, 2023 $ 647,363 - - 675 103,756 Ending balance $ 647,363 - - 675 103,756 |
Schedule of Investment Securities at Fair Value | Schedule of Investment Securities at Fair Value Type Amortized Costs Gross Unrealized Gains Gross Unrealized Losses Fair Values NYSE-listed company stock $ 649,847 $ - $ (2,484 ) $ 647,363 |
Schedule of portion of unrealized gains and losses related to equity securities | The portion of unrealized gains and losses for the period related to equity securities still held at the reporting date is calculated as follows: Schedule of portion of unrealized gains and losses related to equity securities 2023 2022 Year Ended December 31, 2023 2022 Net gains and losses recognized during the period on equity securities $ (2,484 ) $ 833 Less: Net gains (losses) recognized during the period on equity securities sold during the period - 833 Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date $ (2,484 ) $ - |
Common Stock warrants (Tables)
Common Stock warrants (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of common stock warrants | The following table summarizes Series B and Series D common stock warrants as of each period: Schedule of common stock warrants Series B Series D B and D Total Outstanding at December 31, 2021 87,456 6,252,954 6,340,410 Issued - - - Exercised 87,456 2,954 90,410 Outstanding at December 31, 2022 - 6,250,000 6,250,000 Issued - - - Exercised - 2,000,000 2,000,000 Outstanding at December 31, 2023 - 4,250,000 4,250,000 Mentor Capital, Inc. Notes to Consolidated Financial Statements December 31, 2023 and 2022 Series E, F, G, and H warrants were issued for investment banking and advisory services during 2009. Series E, F, and G warrants were exercised in 2014. On November 14, 2022, the 275,647 Series H Warrants of Lenox Hill Partners, LLC were canceled pursuant to a Settlement Agreement. As of December 31, 2023, there were 413,512 Series H ($ 7 ) Warrants outstanding. The following table summarizes Series H ($7) warrants as of each period: Series H $7.00 exercise price Outstanding at December 31, 2021 689,159 Issued - Canceled 275,647 Exercised - Outstanding at December 31, 2022 413,512 Issued - Canceled - Exercised - Outstanding at December 31, 2023 413,512 |
Accrued salary, accrued retir_2
Accrued salary, accrued retirement, and incentive fee – related party (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Payables and Accruals [Abstract] | |
Schedule of outstanding liability | The Company had an outstanding liability to its Chief Executive Officer (“CEO”) as follows at December 31, 2023 and 2022: Schedule of outstanding liability 2023 2022 Accrued salaries and benefits $ 30,517 $ 914,072 Accrued retirement and other benefits 667,648 501,529 Offset by shareholder advance (261,653 ) (261,653 ) Total outstanding liability $ 436,512 $ 1,153,948 |
Segment Information (Tables)
Segment Information (Tables) - Continuing Operations [Member] | 12 Months Ended |
Dec. 31, 2023 | |
Schedule of segment information | Schedule of segment information Energy Segment Historic Segment Corporate, Other, and Eliminations Consolidated 2023 Net sales $ - $ - $ - $ - Operating income (loss) - (1,305 ) (1,773,905 ) (1,775,210 ) Interest income 5,292 - 69,488 74,780 Interest expense - - 15,847 15,847 Property additions - - 2,291 2,291 Fixed asset depreciation and amortization - - 1,706 1,706 Total Assets 647,363 2,472 3,797,006 4,446,841 2022 Net sales $ - $ 37,659 $ (2,585 ) $ 35,074 Operating income (loss) - 32,909 (493,235 ) (460,326 ) Interest income - - 58,726 58,726 Interest expense - - 33,878 33,878 Property additions - - - - Fixed asset depreciation and amortization - - 2,079 2,079 Total Assets - 1,000 4,992,892 4,993,892 |
Schedule of reconciliation of revenue from segments to consolidated | The following table reconciles operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes for the years ended December 31, 2023 and 2022, as presented in the consolidated income statements: Schedule of reconciliation of revenue from segments to consolidated 2023 2022 Operating loss $ (1,775,210 ) $ (460,326 ) Realized gain (loss) on investments in securities 4,802,905 (170,418 ) Interest income 74,780 58,726 Interest expense (15,847 ) (33,878 ) Other income 1,291 555 Income before income taxes $ 3,087,919 $ (605,342 ) |
Income tax (Tables)
Income tax (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of components of income tax expense (benefit) | The provision (benefit) for income taxes for the years ended December 31, 2023 and 2022 consist of the following: Schedule of components of income tax expense (benefit) 2023 2022 Current taxes from continuing operations: Federal $ - $ - State 8,160 6,768 Total current 8,160 6,768 Taxes from discontinued operations (1): Federal (1) 5,783 7,615 State (1) 5,783 7,615 Tax provision from discontinued operations (1) 13,943 14,838 Deferred tax asset: Federal (273,400 ) 107,700 State 1,100 18,300 Change in valuation (272,300 ) (126,000 ) Total provision (benefit) $ 13,943 $ 14,383 (1) We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. |
Schedule of income tax rate reconciliation | Schedule of income tax rate reconciliation 2023 2022 Net income (loss) before income tax - continuing operations $ 3,087,919 $ (605,342 ) US federal income tax rate 21 % 21 % Computed expected tax (benefit) - continuing operations 648,463 (127,122) Net Income (loss) before income tax - discontinued operations (1) 83,682 252,800 US federal income tax rate (1) 21% 21% Computed expected tax (benefit) - discontinued operations (1) 17,573 53,088 Total computed expected tax (benefit) (1) 666,036 (74,034) Permanent differences and other (393,736) 200,034 Change in valuation (272,300) (126,000) Federal income tax provision $ - $ - (1) We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. |
Schedule of deferred tax assets | The significant components of deferred income tax assets as of December 31, 2023 and 2022 after applying enacted corporate income tax rates are as follows: Schedule of deferred tax assets 2023 2022 Net Operating Losses carried forward from continuing operations $ 1,913,000 $ 1,851,100 Capital Losses carried forward 156,600 371,200 Deferred - Other - 62,500 Valuation allowance (2,069,600 ) (2,284,800 ) Deferred tax assets $ - $ - 2023 2022 Net Operating Losses carried forward from discontinued operations (1) $ - $ 57,100 Capital Losses carried forward - - Valuation allowance - (57,100) Deferred tax assets $ - $ - (1) We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. |
Schedule of List of Subsidiarie
Schedule of List of Subsidiaries (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Mentor IP LLC [Member] | |
Equity method investment, ownership percentage | 100% |
State in which incorporated, description | South Dakota |
Mentor Partner I, LLC [Member] | |
Equity method investment, ownership percentage | 100% |
State in which incorporated, description | Texas |
Mentor Partner II, LLC [Member] | |
Equity method investment, ownership percentage | 100% |
State in which incorporated, description | Texas |
TWG LLC [Member] | |
Equity method investment, ownership percentage | 100% |
State in which incorporated, description | Texas |
Nature of operations (Details N
Nature of operations (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||
Jul. 11, 2023 | Nov. 18, 2022 | Sep. 27, 2022 | Dec. 21, 2018 | Dec. 31, 2023 | Oct. 04, 2023 | Dec. 31, 2022 | Aug. 27, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Entity incorporation, state or country code | DE | |||||||
Entity incorporation, date of incorporation | Jul. 29, 1994 | |||||||
Waste Consolidators, Inc. [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 6,000,000 | |||||||
Pueblo West Organics, LLC [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Payments to Acquire Machinery and Equipment | $ 245,369 | |||||||
Settlement Agreement [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Contractual interests in legal recoveriess | $ 459,990 | |||||||
Capital Agreement [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Contractual interests in legal recoveries | $ 200,000 | |||||||
G Farma Settlors [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 2,539,597 | $ 2,539,597 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 10% | |||||||
Litigation Settlement Interest | $ 40,219 | $ 120,370 | ||||||
G Farma Settlors [Member] | Settlement agreement and mutual release [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Finance lease receivable | $ 803,399 | |||||||
Notes receivable | $ 1,045,051 | |||||||
Electrum Partners, LLC [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Contractual interests in legal recoveries | 63,324 | |||||||
Contractual interest equity interest | 194,028 | |||||||
Loss on investment | 130,704 | |||||||
Electrum Partners, LLC [Member] | Recovery Purchase Agreement [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Contractual interests in legal recoveries | 196,666 | |||||||
Electrum Partners, LLC [Member] | Capital Agreement [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Contractual interests in legal recoveries | $ 200,000 | |||||||
NeuCourt, Inc [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Stock issued, value | $ 10,000 | |||||||
Stock issued, shares | 500,000 | |||||||
Entity issued and outstanding common stock, percentage | 6.13% | |||||||
Mentor IP LLC [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Equity method investment, ownership percentage | 100% |
Summary of significant accoun_3
Summary of significant accounting policies (Details Narrative) - USD ($) | 12 Months Ended | |||||||
Feb. 15, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Oct. 14, 2023 | Oct. 04, 2023 | Jan. 10, 2023 | Jan. 01, 2014 | Dec. 31, 2003 | |
Property, Plant and Equipment [Line Items] | ||||||||
Accumulated deficit | $ 8,187,807 | $ 11,345,465 | ||||||
Exercise price of warrants | $ 0.64 | $ 1.94 | ||||||
Impairment of investments | $ 116,430 | |||||||
Loss on investments | $ 41,930 | $ (170,418) | ||||||
Short-term debt securities | 0 | 0 | ||||||
Allowance for doubtful receivables | 0 | 0 | ||||||
Annual installment payments | $ 117,000 | |||||||
Due in 2023 | 117,000 | |||||||
Due in 2024 | 117,000 | |||||||
Due in 2025 | $ 117,000 | |||||||
Goodwill | $ 0 | $ 0 | $ 102,040 | |||||
Outstanding warrant | 4,250,000 | |||||||
Effect dilutive common share | 2,887,821 | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 7,000,000 | |||||||
Discontinued Operations [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Goodwill | $ 1,426,182 | |||||||
Waste Consolidators, Inc. [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Goodwill | $ 1,324,142 | $ 102,040 | ||||||
Equity Method Investment, Ownership Percentage | 51% | 50% | 50% | |||||
Waste Consolidator Inc [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Goodwill | $ 0 | $ 1,426,182 | ||||||
Waste Consolidator Inc [Member] | Discontinued Operations [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Goodwill | $ 0 | |||||||
Computer Equipment [Member] | Minimum [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property and equipment, useful life | 3 years | |||||||
Computer Equipment [Member] | Maximum [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property and equipment, useful life | 5 years | |||||||
Furniture and Fixtures [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property and equipment, useful life | 7 years | |||||||
Vehicles [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Operating leases expected lease term | 4 years | |||||||
Finance lease extended lease term | 5 years | |||||||
Vehicles [Member] | Minimum [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property and equipment, useful life | 4 years | |||||||
Finance lease remaining lease term | 1 month | |||||||
Vehicles [Member] | Maximum [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Property and equipment, useful life | 5 years | |||||||
Finance lease remaining lease term | 48 months | |||||||
Simple Agreement for Future Equity (SAFE) [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Outstanding aggregate purchase amount | $ 93,756 | $ 83,756 | ||||||
Series D Warrants [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Class of Warrant or Right, Outstanding | 4,250,000 | |||||||
Exercise price of warrants | $ 0.02 | $ 1.60 | $ 0.02 |
Schedule of Equity Interest at
Schedule of Equity Interest at the Acquisition Date Fair Value (Details) - Waste Consolidators, Inc. [Member] - USD ($) | Dec. 31, 2014 | Jan. 14, 2014 | Oct. 28, 2007 | |
Restructuring Cost and Reserve [Line Items] | ||||
Cash to acquire an additional 1% equity interest in WCI | $ 25,000 | $ 25,000 | $ 79,200 | |
Fair value of 50% interest | [1] | 1,250,000 | ||
Investment under the equity method | ||||
Total purchase price to be allocated | $ 1,275,000 | |||
[1]The estimated fair value of Mentor’s previously held equity interest in WCI is valued at 1.25 times WCI’s projected 2014 revenue. |
Schedule of Purchase Price Allo
Schedule of Purchase Price Allocation (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2014 | Jan. 01, 2014 |
Restructuring Cost and Reserve [Line Items] | ||||
Goodwill | $ 0 | $ 0 | $ 102,040 | |
Waste Consolidators, Inc. [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
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 | $ 1,324,143 | ||
Net assets acquired | $ 1,275,000 |
Schedule of gain on sale of WCI
Schedule of gain on sale of WCI (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Total gain on sale of WCI | $ 4,805,389 | |
Waste Consolidators, Inc. [Member] | Discontinued Operations [Member] | ||
Purchase price allocation at 51% WCI assets and liabilities | 1,275,000 | |
Net investment in 51% earnings | 326,735 | |
Net investment in distributions | (407,124) | |
Total WCI Cost Basis | 1,194,611 | |
Payment at Closing | 5,000,000 | |
Promissory Note Receivable | 1,000,000 | |
Total WCI Sale Price | 6,000,000 | |
WCI sale price | 6,000,000 | |
Less WCI cost basis | (1,194,611) | |
Total gain on sale of WCI | $ 4,805,389 |
Schedule of balance sheet (Deta
Schedule of balance sheet (Details) - USD ($) | Dec. 31, 2023 | Oct. 04, 2023 | [1] | Dec. 31, 2022 | |
Current assets: | |||||
Total current assets sold - discontinued operation | $ 1,426,624 | ||||
Current liabilities: | |||||
Total current liabilities sold - discontinued operation | 991,050 | ||||
Total noncurrent liabilities sold - discontinued operation | 1,095,889 | ||||
Discontinued Operations [Member] | |||||
Current assets: | |||||
Cash and cash equivalents | $ 369,387 | 506,499 | |||
Accounts receivable | 786,617 | 686,870 | |||
Other current assets | 19,027 | 233,255 | |||
Total current assets sold - discontinued operation | 1,169,030 | 1,426,625 | |||
Property and equipment | 179,673 | 145,872 | |||
Goodwill | [2] | 102,040 | 102,040 | ||
Prepaid Admin Fee – Mentor | 337,333 | ||||
Security deposit | 22,477 | 25,575 | |||
Right of use asset | 1,884,632 | 1,265,486 | |||
Total noncurrent assets sold - discontinued operation | 2,009,149 | 1,730,434 | |||
Total assets | 3,357,852 | 3,302,931 | |||
Current liabilities: | |||||
Accounts -payable trade | 38,530 | 24,557 | |||
Finance lease liability - current | 419,073 | 232,058 | |||
Accrued expenses | 597,217 | 639,373 | |||
Total current liabilities sold - discontinued operation | 1,054,820 | 895,988 | |||
EIDL loan payable | 51,797 | 161,060 | |||
Note payable - Mentor | 1,081,323 | ||||
Long term debt | 83,876 | ||||
Finance lease liability – long-term | 1,069,810 | 575,852 | |||
Operating lease liability - long-term | 256,071 | 370,164 | |||
Total noncurrent liabilities sold - discontinued operation | 1,377,677 | 2,272,274 | |||
Total liabilities | 2,432,497 | 3,168,262 | |||
Total net assets of discontinued operation | $ 925,355 | $ 134,669 | |||
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023.[2]Effective upon the date of sale, October 4, 2023, we deconsolidated our discontinued operation and goodwill of $ 102,040 |
Schedule of balance sheet (Pare
Schedule of balance sheet (Parenthetical) (Details) - USD ($) | Oct. 04, 2023 | Dec. 31, 2022 | ||
Discontinued Operations [Member] | ||||
Goodwill | [2] | $ 102,040 | [1] | $ 102,040 |
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023.[2]Effective upon the date of sale, October 4, 2023, we deconsolidated our discontinued operation and goodwill of $ 102,040 |
Schedule of disposal groups, in
Schedule of disposal groups, including discontinued operations (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Schedule of Equity Method Investments [Line Items] | |||
Revenue | $ 35,074 | ||
Cost of sales | |||
Gross profit | 35,074 | ||
Selling, general and administrative expenses | 1,775,210 | 495,400 | |
Operating income (loss) | (1,775,210) | (460,326) | |
Total other income and (expense) | 4,863,129 | (145,016) | |
Income (loss) before provision for income taxes | 3,087,919 | (605,342) | |
Provision for income taxes | (8,160) | (6,768) | |
Net income (loss) from continued operations | 3,079,759 | (612,110) | |
Net income (loss) from discontinued operations | 77,899 | 245,185 | |
Net income (loss) | 3,157,658 | (366,925) | |
Gain (loss) attributable to non-controlling interest | (104,461) | ||
Net income (loss) attributable to Mentor | 3,157,658 | (471,386) | |
Gain on sale of discontinued operations | 4,805,389 | ||
Waste Consolidators, Inc. [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Revenue | 35,074 | ||
Cost of sales | |||
Gross profit | 35,074 | ||
Selling, general and administrative expenses | 1,775,210 | 495,400 | |
Operating income (loss) | (1,775,210) | (460,326) | |
Total other income and (expense) | [1] | 4,863,129 | (145,016) |
Income (loss) before provision for income taxes | 3,087,919 | (605,342) | |
Provision for income taxes | (8,160) | (6,768) | |
Net income (loss) from continued operations | 3,079,759 | (612,110) | |
Net income (loss) from discontinued operations | 77,899 | 245,185 | |
Net income (loss) | 3,157,658 | (366,925) | |
Gain (loss) attributable to non-controlling interest | (104,461) | ||
Net income (loss) attributable to Mentor | $ 3,157,658 | $ (471,386) | |
[1]During fiscal year 2023, we recognized a $ 4,805,389 |
Schedule of lease liability (De
Schedule of lease liability (Details) - Discontinued Operations [Member] - USD ($) | Oct. 04, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | ||
Finance leases, 2024 | [1] | $ 419,073 | |||
Operating leases, 2024 | [1] | 67,804 | |||
Finance leases, 2025 | [1] | 424,735 | |||
Operating leases, 2025 | [1] | 74,860 | |||
Finance leases, 2026 | [1] | 388,723 | |||
Operating leases, 2026 | [1] | 82,475 | |||
Finance leases, 2027 | [1] | 251,571 | |||
Operating leases, 2027 | [1] | 90,670 | |||
Finance leases, 2028 | [1] | 4,781 | |||
Operating leases, 2028 | [1] | 8,066 | |||
Total Finance leases | 1,488,883 | [1] | $ 1,488,883 | $ 807,910 | |
Total Operating leases | 323,875 | [1] | $ 323,875 | 370,164 | |
Finance Lease, Less: Present value discount | [1] | (419,073) | |||
Operating leases, Less: Present value discount | [1] | (67,804) | |||
Finance leases, Long-term liability | [1] | 1,069,810 | |||
Operating leases, Long-term liability | $ 256,071 | [1] | $ 307,303 | ||
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of other receivable (D
Schedule of other receivable (Details) - USD ($) | Dec. 31, 2023 | Oct. 04, 2023 | Dec. 31, 2022 | |
Total other receivable | $ 15,000 | |||
Discontinued Operations [Member] | ||||
Employee retention tax credits | ||||
Accrued sales tax receivable from customers | [1] | 20,374 | 237,243 | |
Other | (6,921) | |||
Total other receivable | $ 20,374 | $ 230,322 | ||
[1]At December 31, 2022, we estimated that our discontinued operation’s accrued sales tax receivable was $ 237,243 285,128 206,671 20,374 |
Schedule of other receivable _2
Schedule of other receivable (Details) (Parenthetical) - Waste Consolidators, Inc. [Member] - Discontinued Operations [Member] - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Accrued sales tax receivable | $ 237,243 | ||
Remaining sales tax receivable | $ 285,128 | ||
Proceeds from accrued sales tax receivable | $ 206,671 | ||
Accrued sales tax | $ 20,374 |
Schedule of property, plant and
Schedule of property, plant and equipment (Details) - USD ($) | Dec. 31, 2023 | Oct. 04, 2023 | [1] | Dec. 31, 2022 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Computers | $ 33,626 | $ 31,335 | ||
Furniture and fixtures | 14,613 | 14,613 | ||
Machinery and vehicles | ||||
Gross Property and equipment | 48,239 | 45,948 | ||
Accumulated depreciation and amortization | (46,648) | (44,942) | ||
Property and equipment of discontinued operations | 309,777 | |||
Accumulated depreciation of discontinued operations | (163,905) | |||
Property and equipment, net | $ 1,591 | 146,878 | ||
Discontinued Operations [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Computers | ||||
Furniture and fixtures | 12,761 | 12,761 | ||
Machinery and vehicles | 380,077 | 297,016 | ||
Gross Property and equipment | 392,838 | 309,777 | ||
Accumulated depreciation and amortization | (213,165) | (163,905) | ||
Property and equipment, net | $ 179,673 | $ 145,872 | ||
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of lease costs recogni
Schedule of lease costs recognized in consolidated statements of operations (Details) - Discontinued Operations [Member] - USD ($) | 9 Months Ended | 12 Months Ended | |
Oct. 04, 2023 | [1] | Dec. 31, 2022 | |
Operating lease cost included in cost of goods | $ 13,054 | ||
Operating lease cost included in operating costs | 60,256 | 54,571 | |
Total operating lease cost (1) | 60,256 | 67,625 | |
Amortization of lease assets | 269,470 | 278,006 | |
Interest on lease liabilities | 56,450 | 39,931 | |
Total finance lease cost | 325,920 | 317,937 | |
Short-term lease cost | |||
Total lease cost | $ 386,176 | $ 385,562 | |
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of lease amounts of di
Schedule of lease amounts of discontinued operations (Details) - Discontinued Operations [Member] | Oct. 04, 2023 | [1] | Dec. 31, 2022 |
Weighted-average remaining lease term - operating leases | 4 years 3 days | 4 years 9 months | |
Weighted-average remaining lease term - finance leases | 3 years 5 months 26 days | 4 years 7 months 17 days | |
Weighted-average discount rate - operating leases | 6% | 6% | |
Weighted-average discount rate - finance leases | 7.50% | 5.50% | |
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of finance lease liabi
Schedule of finance lease liabilities (Details) - Discontinued Operations [Member] - USD ($) | Oct. 04, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | ||
Gross finance lease liabilities | [1] | $ 1,696,301 | |||
Less: imputed interest | [1] | (207,418) | |||
Present value of finance lease liabilities | 1,488,883 | [2] | $ 1,488,883 | $ 807,910 | |
Less: current portion | [2] | (419,073) | |||
Long-term finance lease liabilities | [2] | $ 1,069,810 | |||
Finance Lease Liabilities [Member] | |||||
Gross finance lease liabilities | 897,849 | ||||
Less: imputed interest | (89,939) | ||||
Present value of finance lease liabilities | 807,910 | ||||
Less: current portion | (232,058) | ||||
Long-term finance lease liabilities | $ 575,852 | ||||
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023.[2]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of operating lease lia
Schedule of operating lease liabilities (Details) - Discontinued Operations [Member] - USD ($) | Oct. 04, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | |
Gross operating lease liabilities | $ 366,918 | [1] | $ 428,946 | |
Less: imputed interest | (43,043) | [1] | (58,782) | |
Present value of operating lease liabilities | 323,875 | [2] | $ 323,875 | 370,164 |
Less: current portion | (67,804) | [1] | (62,861) | |
Long-term operating lease liabilities | $ 256,071 | [2] | $ 307,303 | |
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023.[2]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of lease maturities (D
Schedule of lease maturities (Details) - Discontinued Operations [Member] - USD ($) | Oct. 04, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | ||
Finance leases - 2024 | [1] | $ 419,073 | |||
Operating leases - 2024 | [1] | 67,804 | |||
Finance leases - 2025 | [1] | 424,735 | |||
Operating leases - 2025 | [1] | 74,860 | |||
Finance leases - 2026 | [1] | 388,723 | |||
Operating leases - 2026 | [1] | 82,475 | |||
Finance leases - 2027 | [1] | 251,571 | |||
Operating leases - 2027 | [1] | 90,670 | |||
Finance leases - 2028 | [1] | 4,781 | |||
Operating leases - 2028 | [1] | 8,066 | |||
Total Finance leases | 1,488,883 | [1] | $ 1,488,883 | $ 807,910 | |
Total Operating leases | 323,875 | [1] | $ 323,875 | 370,164 | |
Less: current portion | [1] | (419,073) | |||
Less: Operating leases current maturities | [1] | (67,804) | |||
Finance leases, Long-term liability | [1] | 1,069,810 | |||
Operating leases, Long-term liability | $ 256,071 | [1] | $ 307,303 | ||
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of segment information
Schedule of segment information (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Oct. 04, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | ||
Net sales | $ 35,074 | |||
Operating income (loss) | (1,775,210) | (460,326) | ||
Interest income | 74,780 | 58,725 | ||
Interest expense | 15,847 | 33,878 | ||
Property Additions | 2,291 | |||
Fixed asset depreciation and amortization | 1,706 | 2,079 | ||
Total assets | 4,446,841 | 4,993,892 | ||
Interest and dividend income | 74,780 | 58,726 | ||
Energy Segment [Member] | ||||
Net sales | ||||
Operating income (loss) | ||||
Interest expense | ||||
Property Additions | ||||
Fixed asset depreciation and amortization | ||||
Total assets | 647,363 | |||
Interest and dividend income | 5,292 | |||
Historic Segment [Member] | ||||
Net sales | 37,659 | |||
Operating income (loss) | (1,305) | 32,909 | ||
Interest expense | ||||
Fixed asset depreciation and amortization | ||||
Total assets | 2,472 | 1,000 | ||
Interest and dividend income | ||||
Corporate and Eliminations [Member] | ||||
Net sales | (2,585) | |||
Operating income (loss) | (1,773,905) | (493,235) | ||
Interest expense | 15,847 | 33,878 | ||
Property Additions | 2,291 | |||
Fixed asset depreciation and amortization | 1,706 | 2,079 | ||
Total assets | 3,797,006 | 4,992,892 | ||
Interest and dividend income | 69,488 | 58,726 | ||
Facility Operations Related [Member] | ||||
Property Additions | ||||
Discontinued Operations [Member] | ||||
Net sales | $ 6,432,907 | 7,670,641 | ||
Operating income (loss) | 178,854 | [1] | (830,098) | |
Interest income | 1 | [1] | 5 | |
Interest expense | 62,770 | [1] | 46,321 | |
Property Additions | 83,062 | 63,089 | ||
Fixed asset depreciation and amortization | 49,260 | 69,176 | ||
Total assets | $ 3,357,852 | $ 3,302,931 | ||
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of reconciliation of r
Schedule of reconciliation of revenue from segments to consolidated (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Oct. 04, 2023 | [1] | Dec. 31, 2023 | Dec. 31, 2022 | |
Operating loss | $ (1,775,210) | $ (460,326) | ||
Realized gain (loss) on investments in securities | 4,802,905 | (170,418) | ||
Interest income | 74,780 | 58,725 | ||
Interest expense | (15,847) | (33,878) | ||
Other income | 1,291 | 555 | ||
Income (loss) before provision for income taxes | 3,087,919 | (605,342) | ||
Interest income | $ 74,780 | 58,726 | ||
Discontinued Operations [Member] | ||||
Operating loss | $ 178,854 | (830,098) | ||
Employee retention tax credit (WCI) | 6,921 | 1,350,161 | ||
Interest income | 1 | 5 | ||
Interest expense | (62,770) | (46,321) | ||
Gain (loss) on equipment disposals | 56,455 | |||
Other income | 13,139 | 57,473 | ||
Income (loss) before provision for income taxes | $ 136,145 | $ 587,675 | ||
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Discontinued operation (Details
Discontinued operation (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | |||||||||||||||
Oct. 04, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | Jul. 09, 2020 | Dec. 31, 2014 | Jan. 14, 2014 | Oct. 28, 2007 | Oct. 01, 2003 | Oct. 04, 2023 | Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2024 | Jan. 01, 2014 | Dec. 31, 2003 | |||
Goodwill | $ 0 | $ 0 | $ 0 | $ 102,040 | |||||||||||||
Cash used in operating activities, discontinued operations | 408,928 | 497,086 | |||||||||||||||
Accounts receivable | 11,398 | ||||||||||||||||
Other receivable | 15,000 | ||||||||||||||||
Prepaid expenses | (2,867) | ||||||||||||||||
Finance lease | (306,650) | ||||||||||||||||
Accrued expenses | 72,089 | (173,669) | |||||||||||||||
Gain on disposal of discontinued operation | $ 4,805,389 | ||||||||||||||||
Lessee operating leases, description | Fleet and vehicle leases were entered into prior to January 1, 2019, and under ASC 840 guidelines, they had 4-year terms and were classified as operating leases. Fleet leases entered into beginning January 1, 2019, under ASC 842 guidelines, were expected to be extended to 5-year terms and are classified as finance leases. | ||||||||||||||||
Vehicle Fleet [Member] | |||||||||||||||||
Accumulated amortization of finance leases | 394,391 | 394,391 | |||||||||||||||
Economic Injury Disaster Loan [Member] | |||||||||||||||||
Debt instrument, payment terms | July 2021 | ||||||||||||||||
Discontinued Operations [Member] | |||||||||||||||||
Goodwill | $ 1,426,182 | $ 1,426,182 | |||||||||||||||
Gain on disposal of discontinued operations | 4,805,389 | ||||||||||||||||
Cash used in operating activities, discontinued operations | $ 333,207 | 506,499 | |||||||||||||||
Accounts receivable | 728,657 | 633,178 | |||||||||||||||
Other receivable | 20,374 | 230,322 | |||||||||||||||
Prepaid expenses | 82,984 | 51,308 | |||||||||||||||
Property plant and equipment | 392,838 | 309,777 | |||||||||||||||
Prepaid expenses | 323,875 | 370,164 | |||||||||||||||
Finance lease | 1,560,757 | 895,323 | |||||||||||||||
Accrued expenses | 523,178 | 639,373 | |||||||||||||||
Finance lease | 1,488,883 | [1] | 1,488,883 | 807,910 | 1,488,883 | [1] | $ 1,488,883 | 807,910 | |||||||||
Operating lease, liability | 323,875 | [1] | 323,875 | 370,164 | 323,875 | [1] | 323,875 | 370,164 | |||||||||
Loan liability | 58,031 | 161,060 | |||||||||||||||
Long-term debt | 0 | 83,876 | 0 | 83,876 | |||||||||||||
Gain on disposal of discontinued operation | $ 4,805,389 | ||||||||||||||||
Employee retention credits | 6,921 | [2] | 1,350,161 | ||||||||||||||
Employee retention income | 0 | 1,350,161 | |||||||||||||||
Payroll tax liabilities | $ 0 | $ 0 | 1,350,161 | ||||||||||||||
Depreciation and amortization | $ 49,260 | 47,974 | |||||||||||||||
Cost of goods sold | 16,325 | 21,204 | |||||||||||||||
Discontinued Operations [Member] | Operating Agreements [Member] | |||||||||||||||||
Right of use asset amortization | 46,289 | 223,151 | |||||||||||||||
Discontinued Operations [Member] | Vehicle Fleet [Member] | |||||||||||||||||
Finance leases right of use assets | 2,272,984 | 1,289,714 | 2,272,984 | 1,289,714 | |||||||||||||
Accumulated amortization of finance leases | $ 712,227 | $ 712,227 | |||||||||||||||
Discontinued Operations [Member] | Maximum [Member] | |||||||||||||||||
Employee wages | 10,000 | ||||||||||||||||
Eligible employee credit | $ 7,000 | $ 7,000 | |||||||||||||||
Discontinued Operations [Member] | Economic Injury Disaster Loan [Member] | |||||||||||||||||
Debt instrument, interest rate | 3.75% | ||||||||||||||||
Proceeds from loans | $ 149,900 | ||||||||||||||||
Debt instrument, annual principal payment | $ 731 | ||||||||||||||||
Waste Consolidators, Inc. [Member] | |||||||||||||||||
Business Combination, Acquired Receivable, Fair Value | 1,250,000 | ||||||||||||||||
Investments | $ 1,275,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Other | 47,216 | ||||||||||||||||
Goodwill | $ 1,324,142 | $ 102,040 | |||||||||||||||
Ownership percentage | 51% | 51% | 50% | 50% | |||||||||||||
Debt instrument, interest rate | 6% | 6% | |||||||||||||||
Waste Consolidators, Inc. [Member] | Discontinued Operations [Member] | |||||||||||||||||
Cash | $ 5,000,000 | $ 5,000,000 | |||||||||||||||
Debt Instrument, Face Amount | $ 1,000,000 | 1,000,000 | |||||||||||||||
Debt instrument, interest rate | 6% | ||||||||||||||||
[custom:GainOnSaleOfDisposalGroupIncludingDiscontinuedOperation] | $ 4,805,389 | ||||||||||||||||
Percentage of purchase price allocation | 51% | ||||||||||||||||
Percentage of net investment | 51% | ||||||||||||||||
Waste Consolidators, Inc. [Member] | Discontinued Operations [Member] | Subsequent Event [Member] | |||||||||||||||||
Ownership percentage | 51% | ||||||||||||||||
Percentage of net income (loss) attributable to non controlling interest | 49% | ||||||||||||||||
Waste Consolidator Inc [Member] | |||||||||||||||||
Goodwill | $ 1,426,182 | 1,426,182 | 0 | ||||||||||||||
Waste Consolidator Inc [Member] | Discontinued Operations [Member] | |||||||||||||||||
Goodwill | $ 0 | ||||||||||||||||
[custom:BusinessAcquisitionIncreaseDecreaseInGoodwill-0] | 0 | 0 | |||||||||||||||
Waste Consolidators, Inc. [Member] | |||||||||||||||||
Outstanding shares purchased percentage | 50% | 51% | |||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 1,000,000 | ||||||||||||||||
Payments to acquire businesses | 25,000 | $ 25,000 | $ 79,200 | ||||||||||||||
[custom:BusinessAcquisitionAdditionalPercentageOfVotingInterestsAcquired-0] | 1% | ||||||||||||||||
Goodwill | $ 1,324,143 | $ 1,324,143 | |||||||||||||||
Waste Consolidator Inc [Member] | Discontinued Operations [Member] | |||||||||||||||||
[custom:BusinessAcquisitionIncreaseDecreaseInGoodwill-0] | $ 0 | $ 0 | |||||||||||||||
[1]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023.[2]Effective on the date of sale, October 4, 2023, we reported our discontinued operations financials as of September 30, 2023. |
Schedule of receivables with im
Schedule of receivables with imputed interest (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Receivables [Abstract] | ||
Face value | $ 285,400 | $ 403,600 |
Impairment | ||
Unamortized discount | (46,551) | (88,291) |
Net balance | 238,849 | 315,309 |
Current portion | ||
Long term portion | $ 238,849 | $ 315,309 |
Investment in account receiva_3
Investment in account receivable (Details Narrative) - USD ($) | 12 Months Ended | |||||||
Feb. 15, 2022 | Apr. 10, 2015 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Feb. 28, 2024 | Oct. 14, 2023 | Jan. 10, 2023 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Warrants price per share | $ 0.64 | $ 1.94 | ||||||
Warrants redemption price | $ 0.10 | |||||||
Impairment of investments 1 | $ (139,148) | |||||||
Gain (Loss) on Investments | $ 41,930 | (170,418) | ||||||
Annual installment payments | $ 117,000 | |||||||
Due in 2023 | 117,000 | |||||||
Due in 2025 | $ 117,000 | |||||||
Amortization of debt discount | $ 41,741 | 56,806 | ||||||
Subsequent Event [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Annual installment payments | $ 117,000 | |||||||
Other Income [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Gain (Loss) on Investments | $ (41,930) | $ 22,718 | ||||||
Series D Warrants [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Warrants price per share | $ 0.02 | $ 1.60 | $ 0.02 | |||||
Exchange Agreement [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Account receivable with annual installment payments | $ 117,000 | |||||||
Annual installment receivable, term | 11 years | |||||||
Shares issued, value | $ 1,287,000 | |||||||
Shares issued, shares | 757,059 | |||||||
Investment in account receivable discount percent | 17.87% | |||||||
Share price | $ 0.78 | |||||||
Exchange Agreement [Member] | Series D Warrants [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Warrants issued | 757,059 | |||||||
Warrants price per share | $ 1.60 | |||||||
Warrants redemption price | $ 0.10 |
Schedule of Note Receivable (De
Schedule of Note Receivable (Details) (Parenthetical) - Waste Services L L C [Member] - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Accrued interest | $ 15,000 | $ 0 |
Interest rate | 6% | 6% |
Schedule of Note Receivable (_2
Schedule of Note Receivable (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Total note receivable | $ 1,015,000 | |
Waste Services L L C [Member] | ||
Total note receivable | $ 1,015,000 |
Note receivable (Details Narrat
Note receivable (Details Narrative) - Waste Consolidators, Inc. [Member] - USD ($) | Oct. 04, 2024 | Dec. 31, 2023 | Oct. 04, 2023 | Dec. 31, 2022 |
Debt Instrument, Interest Rate, Stated Percentage | 6% | |||
Interest rate per annum | 12% | |||
Ally Waste Services LLC [Member] | ||||
Debt Instrument, Face Amount | $ 1,000,000 | |||
Interest Payable | $ 15,000 | $ 0 |
Property and equipment (Details
Property and equipment (Details Narrative) - USD ($) | 12 Months Ended | ||
Oct. 04, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Continuing Operations [Member] | |||
Depreciation and amortization | $ 1,706 | $ 2,078 | |
Discontinued Operations [Member] | |||
Depreciation and amortization | $ 49,260 | 47,974 | |
Cost of goods sold | $ 16,325 | $ 21,204 |
Convertible notes receivable (D
Convertible notes receivable (Details Narrative) - USD ($) | Aug. 01, 2022 | Jul. 22, 2022 | Jul. 15, 2022 | Jun. 13, 2022 | Oct. 31, 2018 | Nov. 22, 2017 | Dec. 31, 2023 | Jan. 20, 2023 | Dec. 31, 2022 |
NeuCourt, Inc [Member] | Maximum [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Proceeds from sale of preferred stock | $ 500,000 | ||||||||
Simple Agreement for Future Equity (SAFE) [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Outstanding purchase amount | 86,030 | ||||||||
Valuation Capitalization | $ 3,000,000 | ||||||||
Discount rate | 75% | ||||||||
Sale of SAFE purchase amount | $ 1,285 | $ 989 | |||||||
Aggregate outstanding purchase amount | $ 83,756 | $ 93,756 | |||||||
Investments | $ 10,000 | ||||||||
Outstanding aggregate purchase amount | $ 93,756 | $ 83,756 | |||||||
NeuCourt, Inc [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Debt principal amount | $ 750,000 | ||||||||
Convertible Notes Receivable One [Member] | NeuCourt, Inc [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Convertible note receivable | $ 25,000 | ||||||||
Debt instrument, maturity date, description | The note bore interest at 5% per annum, originally matured November 22, 2019, and was amended to extend the maturity date to November 22, 2021. No payments were required prior to maturity | ||||||||
Interest rate | 5% | ||||||||
Warrants to purchase common stock | 25,000 | ||||||||
Share price per share | $ 0.02 | ||||||||
Convertible Notes Receivable Two [Member] | NeuCourt, Inc [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Convertible note receivable | $ 50,000 | ||||||||
Interest rate | 5% | ||||||||
Warrants to purchase common stock | 52,500 | ||||||||
Share price per share | $ 0.02 | ||||||||
Debt instrument, maturity date | Oct. 31, 2020 | ||||||||
Accrued unpaid interest | $ 5,132 | ||||||||
Proceeds from sale of note receivable | $ 2,161 | ||||||||
Debt principal amount | $ 47,839 | ||||||||
Convertible Notes Receivable Two [Member] | NeuCourt, Inc [Member] | Extended Maturity [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Debt instrument, maturity date | Oct. 31, 2022 | ||||||||
Convertible Notes Receivable [Member] | NeuCourt, Inc [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Valuation cap amount | $ 3,000,000 | ||||||||
November 22, 2017 convertible notes [Member] | Simple Agreement for Future Equity (SAFE) [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Accrued unpaid interest | 3,518 | ||||||||
Debt principal amount | 25,000 | ||||||||
October 31, 2018 convertible notes [Member] | Simple Agreement for Future Equity (SAFE) [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Accrued unpaid interest | 9,673 | ||||||||
Debt principal amount | $ 47,839 |
Note purchase agreement and c_2
Note purchase agreement and consulting agreement with G FarmaLabs Limited (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||||||
Jul. 11, 2023 | Aug. 27, 2021 | Aug. 27, 2021 | Mar. 04, 2019 | Mar. 17, 2017 | Oct. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Aug. 31, 2022 | Nov. 04, 2020 | Apr. 24, 2019 | |
G Farma Settlors [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Litigation settlement amount awarded from other party | $ 2,539,597 | $ 2,539,597 | ||||||||||
Litigation settlement default amount | 2,494,450 | |||||||||||
Interest receivable | 40,219 | 120,370 | ||||||||||
Litigation settlement costs | 1,643 | |||||||||||
Attorneys fee | $ 3,285 | |||||||||||
Debt instrument, interest rate, effective percentage | 10% | |||||||||||
Other income | 0 | $ 3,550 | ||||||||||
Two promissory notes [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Debt instrument, face amount | $ 1,166,570 | |||||||||||
G FarmaLabs Limited [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Notes receivable bad debt reserve | 1,039,501 | 1,039,501 | ||||||||||
Notes receivable related party | 0 | 0 | ||||||||||
Other income | $ 0 | $ 3,550 | ||||||||||
G FarmaLabs Limited [Member] | Mentor partner I [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Cost of impounded assets | $ 427,804 | |||||||||||
Notes purchase agreement [Member] | G FarmaLabs Limited [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Debt instrument, face amount | $ 990,000 | $ 500,000 | ||||||||||
Debt instrument, interest rate | 7.42% | |||||||||||
Debt instrument, maturity date | Apr. 15, 2022 | |||||||||||
Debt instrument, periodic payment | $ 10,239 | |||||||||||
Settlement agreement and mutual release [Member] | G Farma [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Liability for unpaid claims and claims adjustment expense schedule, discussion | The Settlement Agreement requires the G Farma Settlors to pay the Company an aggregate of $500,000 plus interest, payable monthly as follows: (i) $500 per month for 12 months beginning on September 5, 2021, (ii) $1,000 per month for 12 months beginning September 5, 2022, (iii) $2,000 per month for 12 months beginning September 5, 2023, and (iv) increasing by an additional $1,000 per month on each succeeding September 5th thereafter, until the settlement amount and accrued unpaid interest are paid in full. Interest on the unpaid balance shall initially accrue at the rate of 4.25% per annum, commencing February 25, 2021, compounded monthly, and shall be adjusted on February 25th of each year to equal the Prime Rate as published in the Wall Street Journal plus 1% | |||||||||||
Settlement agreement and mutual release [Member] | G Farma Settlors [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Liability for unpaid claims and claims adjustment expense schedule, discussion | The Settlement Agreement requires the G Farma Settlors to pay the Company an aggregate of $500,000 plus interest, payable monthly as follows: (i) $500 per month for 12 months beginning on September 5, 2021, (ii) $1,000 per month for 12 months beginning September 5, 2022, (iii) $2,000 per month for 12 months beginning September 5, 2023, and (iv) increasing by an additional $1,000 per month on each succeeding September 5th thereafter, until the settlement amount and accrued unpaid interest is paid in full. Interest on the unpaid balance shall initially accrue at the rate of 4.25%, commencing February 25, 2021, and shall be adjusted on February 25th of each year to equal the Prime Rate as published in the Wall Street Journal plus 1% | |||||||||||
Liability for unpaid claims and claims adjustment expense, net | $ 500,000 | $ 500,000 | $ 500,000 | $ 500,000 | $ 500,000 | |||||||
Liability for unpaid claims and claims adjustment expense, adjustments | $ 2,000,000 | $ 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | |||||||
Remaining amount | 494,450 | |||||||||||
Liability for accrued unpaid interest | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 |
Schedule of net finance leases
Schedule of net finance leases receivable, non-performing (Details) - Mentor partner I [Member] - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Gross minimum lease payments receivable | $ 1,203,404 | $ 1,203,404 |
Less: unearned interest | (400,005) | (400,005) |
Less: reserve for bad debt | (803,399) | (803,399) |
Finance leases receivable |
Finance leases receivable (Deta
Finance leases receivable (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||||
Jul. 11, 2023 | Sep. 27, 2022 | Oct. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2022 | Aug. 31, 2022 | Aug. 27, 2021 | Apr. 24, 2019 | |
Finance lease impairment | $ 783,880 | ||||||||||
Selling, general and administrative expenses | $ 1,775,210 | $ 495,400 | |||||||||
Lease equipment at cost | $ 622,569 | ||||||||||
G Farma Settlors [Member] | |||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 2,539,597 | 2,539,597 | |||||||||
Litigation settlement default amount | 2,494,450 | ||||||||||
Litigation Settlement Interest | 40,219 | 120,370 | |||||||||
Litigation Settlement, Expense | 1,643 | ||||||||||
Legal Fees | $ 3,285 | ||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 10% | ||||||||||
Partner II [Member] | |||||||||||
Finance lease revenue | $ 0 | $ 37,659 | |||||||||
Settlement agreement and mutual release [Member] | G Farma Settlors [Member] | |||||||||||
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustments | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 | |||||||
Remaining amount | 494,450 | ||||||||||
Liability for Unpaid Claims and Claims Adjustment Expense, Net | 500,000 | 500,000 | 500,000 | $ 500,000 | |||||||
Liability for accrued unpaid interest | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 | ||||||||
Bad debt expenses [Member] | |||||||||||
Selling, general and administrative expenses | 19,519 | ||||||||||
G FarmaLabs Limited [Member] | Mentor partner I [Member] | |||||||||||
Cost of impounded assets | $ 427,804 | ||||||||||
G Farmas [Member] | |||||||||||
Proceeds from sale of lease receivables | $ 348,734 | ||||||||||
Pueblo West Organics, LLC [Member] | |||||||||||
Payments to acquire machinery and equipment | $ 245,369 |
Contractual interests in lega_2
Contractual interests in legal recovery (Details Narrative) | 12 Months Ended | |||||||||||
Nov. 18, 2022 USD ($) | Nov. 18, 2022 USD ($) | Sep. 14, 2022 USD ($) | Sep. 14, 2022 CAD ($) | Nov. 01, 2021 USD ($) | Jan. 28, 2019 USD ($) shares | Jan. 28, 2019 USD ($) | Oct. 31, 2018 USD ($) | Oct. 30, 2018 USD ($) | Dec. 31, 2023 | Dec. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) | |
Electrum Partners, LLC [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Contractual interests in legal recoveries | $ 130,704 | |||||||||||
Electrum [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Contractual interests in legal recoveriess | $ 63,324 | 63,324 | ||||||||||
Aurora Cannabis Inc [Member] | Electrum Partners, LLC [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Settlement funds received | $ 584,000 | $ 800,000 | ||||||||||
Recovery Purchase Agreement [Member] | Electrum [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Payments for Legal Settlements | $ 100,000 | |||||||||||
Legal recovery percentage | 10% | 9% | ||||||||||
Investments | $ 96,666 | |||||||||||
Contractual interests in legal recoveries | $ 196,666 | 196,666 | ||||||||||
Secured Capital Agreement [Member] | Electrum [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Investments | $ 100,000 | |||||||||||
Contractual interests in legal recoveries | 100,000 | 100,000 | ||||||||||
Loss contingency settlement agreement terms | In consideration for Mentor’s investment, Electrum agreed to pay Mentor, on the payment date, the sum of (i) $100,000, (ii) ten percent (10%) of the Recovery, and (iii) 0.083334% of the Recovery for each full month from October 31, 2018 to the payment date for each full month that $833 is not paid to Mentor. Payment was secured by all assets of Electrum. The payment date under the October 31, 2018 Capital Agreement was the earlier of November 1, 2021, or the final resolution of the Litigation | |||||||||||
Debt instrument periodic payment | $ 834 | |||||||||||
Contractual interests in legal recoveriess | $ 100,000 | |||||||||||
Second Secured Capital Agreement [Member] | Electrum Partners, LLC [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Debt instrument periodic payment | $ 834 | |||||||||||
Granted option to converted interest | shares | 6,198 | |||||||||||
Cash | $ 194,028 | $ 194,028 | ||||||||||
Recovery of membership interest | 19.40% | 19.40% | ||||||||||
Contractual interest equity interest | 194,028 | |||||||||||
Second Secured Capital Agreement [Member] | Electrum [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Investments | $ 100,000 | $ 100,000 | ||||||||||
January 28, 2019 Secured Capital Agreement [Member] | Electrum [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Loss contingency settlement agreement terms | In consideration for Mentor’s investment, Electrum agreed to pay Mentor on the payment date the sum of (i) $100,000, (ii) ten percent (10%) of the Recovery, and (iii) the greater of (A) 0.083334% of the Recovery for each full month from the date hereof until the payment date if the Recovery occurs prior to the payment date, and (B) $833 for each full month from the date hereof until the payment date. The payment date was the earlier of November 1, 2021, and the final resolution of the Litigation | |||||||||||
Settlement Agreement [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Contractual interests in legal recoveriess | $ 459,990 | |||||||||||
Capital Agreement [Member] | ||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||||||
Contractual interests in legal recoveries | $ 200,000 |
Schedule of hierarchy of level
Schedule of hierarchy of level 1, level 2 and level 3 assets (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Fair Value, Inputs, Level 1 [Member] | Securities (Assets) [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Beginning balance | $ 1,009 | |
Included in earnings (or changes in net assets) | (2,484) | (833) |
Purchases, issuances, sales, and settlements | ||
Purchases | 649,847 | |
Issuances | ||
Sales | (176) | |
Settlements | ||
Ending balance | 647,363 | |
Fair Value, Inputs, Level 2 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Beginning balance | ||
Included in earnings (or changes in net assets) | ||
Purchases, issuances, sales, and settlements | ||
Purchases | ||
Issuances | ||
Sales | ||
Settlements | ||
Ending balance | ||
Fair Value, Inputs, Level 3 [Member] | Contractual Interests in Legal Recoveries [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Beginning balance | 396,666 | |
Included in earnings (or changes in net assets) | ||
Purchases, issuances, sales, and settlements | ||
Purchases | ||
Issuances | ||
Sales | ||
Settlements | (396,666) | |
Ending balance | ||
Fair Value, Inputs, Level 3 [Member] | Investment in Common Stock Warrants [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Beginning balance | 675 | 1,175 |
Included in earnings (or changes in net assets) | (500) | |
Purchases, issuances, sales, and settlements | ||
Purchases | ||
Issuances | ||
Sales | ||
Settlements | ||
Ending balance | 675 | 675 |
Fair Value, Inputs, Level 3 [Member] | Other Equity Investments [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Beginning balance | 93,756 | 204,028 |
Included in earnings (or changes in net assets) | ||
Purchases, issuances, sales, and settlements | ||
Purchases | 10,000 | 83,756 |
Issuances | ||
Sales | ||
Settlements | (194,028) | |
Ending balance | $ 103,756 | $ 93,756 |
Schedule of Investment Securiti
Schedule of Investment Securities at Fair Value (Details) - N Y S E Listed Company Stock [Member] | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | |
Amortized Costs | $ 649,847 |
Gross Unrealized Gains | |
Gross Unrealized Losses | (2,484) |
Fair Values | $ 647,363 |
Schedule of portion of unrealiz
Schedule of portion of unrealized gains and losses related to equity securities (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Investments, All Other Investments [Abstract] | ||
Equity Securities, FV-NI, Gain (Loss) | $ 2,484 | $ 833 |
Less: Net gains (losses) recognized during the period on equity securities sold during the period | 833 | |
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date | $ (2,484) |
Schedule of common stock warran
Schedule of common stock warrants (Details) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Class of Warrant or Right [Line Items] | ||
Exercised | 2,000,000 | 90,410 |
Exercised | (2,000,000) | (90,410) |
Series B Common Stock Warrants [Member] | ||
Class of Warrant or Right [Line Items] | ||
Outstanding at December 31, 2022 | 87,456 | |
Issued | ||
Exercised | 87,456 | |
Outstanding at December 31, 2023 | ||
Exercised | (87,456) | |
Series D Common Stock Warrants [Member] | ||
Class of Warrant or Right [Line Items] | ||
Outstanding at December 31, 2022 | 6,250,000 | 6,252,954 |
Issued | ||
Exercised | 2,000,000 | 2,954 |
Outstanding at December 31, 2023 | 4,250,000 | 6,250,000 |
Exercised | (2,000,000) | (2,954) |
Series B and D Common Stock Warrants [Member] | ||
Class of Warrant or Right [Line Items] | ||
Outstanding at December 31, 2022 | 6,250,000 | 6,340,410 |
Issued | ||
Exercised | 2,000,000 | 90,410 |
Outstanding at December 31, 2023 | 4,250,000 | 6,250,000 |
Exercised | (2,000,000) | (90,410) |
Series H Warrants [Member] | ||
Class of Warrant or Right [Line Items] | ||
Outstanding at December 31, 2022 | 413,512 | 689,159 |
Issued | ||
Exercised | ||
Outstanding at December 31, 2023 | 413,512 | 413,512 |
Canceled | 275,647 | |
Exercised |
Common Stock warrants (Details
Common Stock warrants (Details Narrative) - USD ($) | 12 Months Ended | |||
Nov. 14, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Oct. 14, 2023 | |
Class of Warrant or Right [Line Items] | ||||
Warrants maturity date | Aug. 21, 1998 | |||
Warrant redemption price | $ 0.10 | |||
Weighted average outstanding warrant exercise price | $ 0.64 | $ 1.94 | ||
Weighted average contractual life of warrants | 14 years 6 months | 15 years 6 months | ||
Number of warrants exercised | 2,000,000 | 90,410 | ||
Warrants, intrinsic value | $ 180,200 | $ 0 | ||
Series D Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Weighted average outstanding warrant exercise price | $ 0.02 | $ 1.60 | $ 0.02 | |
[custom:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsRedemptionFee-0] | $ 0.10 | |||
Class of Warrant or Right, Outstanding | 4,250,000 | |||
Series H Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Weighted average outstanding warrant exercise price | $ 7 | |||
Number of warrants cancelled | 275,647 | |||
Warrants outstanding | $ 413,512 | |||
Number of warrants exercised | ||||
Class of Warrant or Right, Outstanding | 413,512 | |||
Series H Warrants [Member] | Lenox Hill Partners, LLC [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Number of warrants cancelled | 275,647 | |||
Series H Warrants [Member] | Investment Banking Agreement [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Weighted average outstanding warrant exercise price | $ 7 | |||
Warrants issued | 689,159 | |||
Warrants term | 30 years |
Warrant redemption liability (D
Warrant redemption liability (Details Narrative) - $ / shares | Jan. 11, 2022 | Dec. 31, 2023 | Dec. 31, 2021 |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Warrants redemption price | $ 0.10 | ||
Chief Executive Officer [Member] | Series B Common Stock Warrants [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Class of warrant, outstanding | 87,456 | 87,456 | |
Number warrants exchanged for common stock | 87,456 |
Stockholders_ equity (Details N
Stockholders’ equity (Details Narrative) - USD ($) | 12 Months Ended | |||||
Sep. 27, 2022 | May 30, 2018 | Aug. 08, 2014 | Dec. 31, 2023 | Dec. 31, 2022 | Jul. 13, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Common stock, shares authorized | 75,000,000 | 75,000,000 | ||||
Common stock, par value | $ 0.0001 | $ 0.0001 | ||||
Stock repurchased during period, shares | 300,000 | 300,000 | 44,748 | |||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | ||||
Preferred stock, par value | $ 0.0001 | $ 0.0001 | ||||
Pueblo West Organics, LLC [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Payments to acquire machinery and equipment | $ 245,369 | |||||
Series Q Preferred Stock [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Preferred stock, shares authorized | 200,000 | |||||
Preferred stock, par value | $ 0.0001 | |||||
Preferred stock, convertible terms | The “Conversion Price” of the Series Q Preferred Stock shall be at the product of 105% and the closing price of the Company’s Common Stock on a date designated and published by the Company. The Series Q Preferred Stock will be available only to accredited, institutional, or qualified investors | |||||
Stock issued, shares | 11 | |||||
Share price | $ 10,000 | |||||
Stock issued, value | $ 110,000 | |||||
Asset value | $ 20,843 | $ 20,843 | ||||
Contingent consideration liability | $ 0 | $ 0 | ||||
Preferred Stock, Convertible, Conversion Price | $ 0.105 | $ 0.063 |
Schedule of outstanding liabili
Schedule of outstanding liability (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Payables and Accruals [Abstract] | ||
Accrued salaries and benefits | $ 30,517 | $ 914,072 |
Accrued retirement and other benefits | 667,648 | 501,529 |
Offset by shareholder advance | (261,653) | (261,653) |
Total outstanding liability | $ 436,512 | $ 1,153,948 |
Accrued salary, accrued retir_3
Accrued salary, accrued retirement, and incentive fee – related party (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Supplier Finance Program [Line Items] | ||
Incentive fee percentage | 1% | |
Market capitalization | $ 260,000 | |
Market capitalization rate | 0.50% | |
Increase in stock price | $ 1 | |
Incentive fee expense | $ 0 | $ 0 |
Maximum [Member] | ||
Supplier Finance Program [Line Items] | ||
Market capitalization rate | 4% | |
Increase in stock price | $ 8 |
Related party transactions (Det
Related party transactions (Details Narrative) - USD ($) | 12 Months Ended | |||||||||||||
Sep. 06, 2023 | Aug. 10, 2023 | Jun. 05, 2022 | Jun. 17, 2021 | Mar. 12, 2021 | Sep. 13, 2011 | Dec. 31, 2023 | Oct. 07, 2023 | Oct. 04, 2023 | Aug. 02, 2023 | Dec. 31, 2022 | Dec. 01, 2022 | Jan. 01, 2014 | Dec. 31, 2003 | |
Related Party Transaction [Line Items] | ||||||||||||||
Exercise price of warrants | $ 0.64 | $ 1.94 | ||||||||||||
Waste Consolidators, Inc. [Member] | ||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||
Sale of ownership interest | $ 6,000,000 | |||||||||||||
Waste Consolidators, Inc. [Member] | ||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||
Debt instrument, interest rate | 6% | |||||||||||||
Ownership percentage | 51% | 50% | 50% | |||||||||||
Mentor Capital Inc CEO [Member] | ||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||
Loan received from related party | $ 50,000 | $ 50,000 | $ 100,000 | $ 100,000 | ||||||||||
Debt instrument, interest rate | 7.80% | 7.80% | ||||||||||||
Accrued interest | $ 545 | $ 28,024 | ||||||||||||
Waste Consolidators, Inc. [Member] | ||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||
Debt instrument, interest rate | 42% | |||||||||||||
Accrued interest | $ 3,591 | |||||||||||||
Debt Instrument, Face Amount | $ 1,016,879 | $ 1,080,000 | ||||||||||||
Cash payment | $ 66,712 | |||||||||||||
Number of warrant exercises | 2,259,732 | |||||||||||||
Exercise price of warrants | $ 0.45 | |||||||||||||
Additional paid in capital warrant issued | $ 1,016,879 | |||||||||||||
Capital contribution | 1,016,879 | |||||||||||||
Repayment of loan price per warrant | $ 0.45 | |||||||||||||
Past amount owed | $ 380,000 | |||||||||||||
Administrative fees expense | $ 700,000 | |||||||||||||
Deferred administrative fees | $ 1,080,000 | |||||||||||||
Monthly payment of deferred fee amount | 2,667 | |||||||||||||
Deferred fees amount | $ 318,667 | |||||||||||||
Waste Consolidators, Inc. [Member] | Series D Warrants [Member] | ||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||
Number of warrant exercises | 2,259,732 |
Commitments and contingencies (
Commitments and contingencies (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Jul. 11, 2023 | Aug. 27, 2021 | Oct. 31, 2022 | Jun. 30, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Aug. 31, 2022 | |
Law suit filing date | May 28, 2019 | |||||||
G Farma Settlors [Member] | ||||||||
Litigation settlement amount awarded from other party | $ 2,539,597 | $ 2,539,597 | ||||||
Litigation settlement default amount | 2,494,450 | |||||||
Interest receivable | 40,219 | 120,370 | ||||||
Litigation settlement costs | 1,643 | |||||||
Attorneys fee | $ 3,285 | |||||||
Debt instrument, interest rate, effective percentage | 10% | |||||||
Other income | 0 | $ 3,550 | ||||||
Settlement agreement and mutual release [Member] | G Farma Settlors [Member] | ||||||||
Liability for unpaid claims and claims description | The Settlement Agreement requires the G Farma Settlors to pay the Company an aggregate of $500,000 plus interest, payable monthly as follows: (i) $500 per month for 12 months beginning on September 5, 2021, (ii) $1,000 per month for 12 months beginning September 5, 2022, (iii) $2,000 per month for 12 months beginning September 5, 2023, and (iv) increasing by an additional $1,000 per month on each succeeding September 5th thereafter, until the settlement amount and accrued unpaid interest is paid in full. Interest on the unpaid balance shall initially accrue at the rate of 4.25%, commencing February 25, 2021, and shall be adjusted on February 25th of each year to equal the Prime Rate as published in the Wall Street Journal plus 1% | |||||||
Liability for unpaid claims and claims adjustment expense, net | $ 500,000 | $ 500,000 | $ 500,000 | $ 500,000 | ||||
Liability for unpaid claims | $ 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | ||||
Remaining amount | 494,450 | |||||||
Liability for accrued unpaid interest | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 | |||||
G FarmaLabs Limited [Member] | ||||||||
Sale leaseback transaction, net book value | $ 622,670 | |||||||
Loss contingency receivable, proceeds | $ 249,481 | |||||||
Other income | $ 0 | $ 3,550 |
Segment Information (Details Na
Segment Information (Details Narrative) | 12 Months Ended | |
Dec. 31, 2023 Segment | Oct. 04, 2023 USD ($) | |
Multiemployer Plan [Line Items] | ||
Number of reportable segments | Segment | 2 | |
Waste Consolidators, Inc. [Member] | ||
Multiemployer Plan [Line Items] | ||
Disposal Group, Including Discontinued Operation, Consideration | $ | $ 6,000,000 |
Schedule of components of incom
Schedule of components of income tax expense (benefit) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Tax provision from discontinued operations | $ 8,160 | $ 6,768 | |
Federal | (273,400) | 107,700 | |
State | 1,100 | 18,300 | |
Change in valuation | (272,300) | (126,000) | |
Total provision (benefit) | 13,943 | 14,383 | |
Continuing Operations [Member] | |||
Federal | |||
State | 8,160 | 6,768 | |
Total current | 8,160 | 6,768 | |
Discontinued Operations [Member] | |||
Federal | [1] | 5,783 | 7,615 |
State | [1] | 5,783 | 7,615 |
Tax provision from discontinued operations | [1] | $ 13,943 | $ 14,838 |
[1]We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. |
Schedule of income tax rate rec
Schedule of income tax rate reconciliation (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Income Tax Disclosure [Abstract] | |||
Net income (loss) before income tax - continuing operations | $ 3,087,919 | $ (605,342) | |
US federal income tax rate | [1] | 21% | 21% |
Computed expected tax (benefit) - continuing operations | $ 648,463 | $ (127,122) | |
Net Income (loss) before income tax - discontinued operations (1) | 83,682 | 252,800 | |
Computed expected tax (benefit) - discontinued operations | [1] | 17,573 | 53,088 |
Total computed expected tax (benefit) | [1] | 666,036 | (74,034) |
Permanent differences and other | (393,736) | 200,034 | |
Change in valuation | (272,300) | (126,000) | |
Federal income tax provision | |||
[1]We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. |
Schedule of deferred tax assets
Schedule of deferred tax assets (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 | |
Continuing Operations [Member] | |||
Net Operating Losses carried forward from discontinued operations | $ 1,913,000 | $ 1,851,100 | |
Capital Losses carried forward | 156,600 | 371,200 | |
Deferred - Other | 62,500 | ||
Valuation allowance | (2,069,600) | (2,284,800) | |
Deferred tax assets | |||
Discontinued Operations [Member] | |||
Net Operating Losses carried forward from discontinued operations | [1] | 57,100 | |
Capital Losses carried forward | |||
Valuation allowance | (57,100) | ||
Deferred tax assets | |||
[1]We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. |
Income tax (Details Narrative)
Income tax (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Operating Loss Carryforwards [Line Items] | |||
Effective income tax rate reconciliation, at federal statutory income tax rate | [1] | 21% | 21% |
CALIFORNIA | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | $ 6,500,000 | ||
Federal [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | 6,300,000 | ||
Operating loss carried forward indefinitely | 3,500,000 | ||
Operating loss carried forward remaining | $ 2,800,000 | ||
[1]We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3. |
Subsequent events (Details Narr
Subsequent events (Details Narrative) - USD ($) | 12 Months Ended | |||
Feb. 15, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 10, 2023 | |
Subsequent Events [Abstract] | ||||
Annual installment payment | $ 117,000 | |||
Impairment of investments | $ 116,430 | |||
Loss on investments | $ 41,930 | $ (170,418) |