Mentor Capital Issues Q3 Financials with $1.5 M Revenue YTD
November 21 2014 - 11:31AM
Business Wire
$0.6 Million Cash, $5.5 Million in Assets with Non-Affiliate
Debt at $0.2 Million Reported at Q3 along with 2013 and 2012
Audits
Mentor Capital, Inc. (OTC Markets: MNTR) announced its third
quarter consolidated financial results in conjunction with its Form
10 filing which included 2013 and 2012 audited financial reports.
The complete financial filing can be viewed at the company’s web
site, at www.sec.gov and at the company’s Filings and Disclosure
page at the OTCMarkets.com website under the Mentor Capital ticker
(MNTR).
On an unaudited basis the company, as of September 30, 2014,
reports that it holds $553,467 in cash, which is an increase from
$40,184 held on December 31, 2013. As of September 30, 2014, the
company had $2,664,141 in current assets which is an increase from
$403,912 at 2013 year end. Consolidated total assets were
$5,538,768 on September 30, 2014 which is an increase from
$1,690,155 on December 31, 2013. Non-affiliate liabilities total
$151,980 on September 30, 2013 compared to $27,366 on December 31,
2013. Common equity is $3,997,543 on September 30, 2014 which is an
increase from the deficit of ($293,869) at December 31, 2013. The
2014 first nine month revenues were $1,546,128 compared to $24,000
for the first nine months of 2013. The company had a gross profit
of $483,773 at Sept 30, 2014 YTD which compares to a gross profit
of $24,000 at September 30, 2013 YTD. The net loss for the first
nine months of 2014 was ($11,268) which is an improvement from the
net loss of ($181,183) for the first nine months of 2013.
12,539,342 average diluted common shares were outstanding during
the first nine months of 2014 vs. 6,650,227 during the same period
of 2013.
Mentor Capital focuses new investments into the cannabis and
medical marijuana space. Reported financial results are
consolidated from several portfolio entities. Nevada Cannabis
Ventures, Inc. is funding the formation of the management company
for a hedge fund headquartered and somewhat focused in Nevada.
MicroCannabiz provides a definitive directory of 4,500 cannabis
entities, and other information related cannabis services. $1.5
Million was also paid through Bhang Corporation to Bhang owners,
who have kept the $1.5 Million. They have refused to issue any
Bhang shares to Mentor Capital, publicly repudiating the contract
they signed a few months earlier. Mentor Capital is pursuing
through the courts the return of the $1.5 Million which will be
redeployed into the cannabis space. Mentor Capital focuses on
investments in private medical marijuana companies but holds some
few public cannabis shares in its stock portfolio. GW
Pharmaceuticals is our largest holding there. Mentor Capital has
transitioned out of all of its public cancer stocks and has only
minority positions in Brighter Day Health and Shaw Capital (medical
devices) as residual private cancer investments pending socially
responsible exit opportunities. WCI is a final remaining
significant non-cannabis legacy investment.
About Mentor Capital: By acquisition or stock purchase,
Mentor Capital, Inc. seeks to invest in leading cannabis companies.
Additional important information for investors and founders seeking
expansion funding is presented at: www.MentorCapital.com
This press release is neither an offer to sell, nor a
solicitation of offers to purchase, securities.
Forward Looking Statements: This press release contains
forward-looking statements within the meaning of the federal
securities laws, including statements concerning financial
projections, financing activities, corporate combinations, product
development activities and sales and licensing activities. Such
forward-looking statements are not guarantees of future results or
performance, are sometimes identified by words of condition such as
“should,” “could,” “expects,” “may,” or “intends,” and are subject
to a number of risks and uncertainties, known and unknown, that
could cause actual results to differ materially from those intended
or anticipated. Such risks include, without limitation:
nonperformance of investments, partner and portfolio difficulties,
potential delays in marketing and sales activities, problems
securing the necessary financing to continue operations, problems
encountered in commercializing cannabis products, potential of
competitive products, services, and technologies, difficulties
experienced in product development, difficulties in recruiting
knowledgeable personnel and potential problems in protecting
intellectual property. Further information concerning these and
other risks is included in the Company’s Form 10 filing which,
along with other very important information about the Company, can
be found here: http://MentorCapital.com/disclosures/
The Company undertakes no obligation to update or revise such
forward-looking statements to reflect events or circumstances
occurring after the date of this press release.
Mentor Capital, Inc.Chet Billingsley, CEO(760) 788-4700
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