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Mentor Capital, Inc. reports cash exceeding share price in its 2023 10-K, with a theoretical cash breakup value surpassing stock price. Directors, including the CEO, purchased over 2 million shares. A second stock buyback plan for 3 million shares was approved. The company sold a subsidiary unit for $6 million, increasing energy investments. Debt and liabilities were retired, and meeting fees for directors and CEO's salary were adjusted. Net income for 2023 was $3,157,658 with a basic gain of 13.7 cents per share. Market capitalization increased to $1,540,413. Book value per share rose to $0.178. Series Q Convertible Preferred Stock showed a 13.4% average annual return over six years.
Mentor Capital, Inc. ha comunicato nel suo 10-K del 2023 che la liquidità supera il prezzo delle azioni, con un valore teorico di liquidazione che eccede il prezzo delle stesse. I direttori, incluso l'AD, hanno acquistato oltre 2 milioni di azioni. È stato approvato un secondo piano di riacquisto di azioni per 3 milioni di pezzi. L'azienda ha venduto una sua unità sussidiaria per 6 milioni di dollari, incrementando gli investimenti nel settore energetico. I debiti e le passività sono stati estinti e sono stati aggiustati i compensi delle riunioni per i direttori e lo stipendio dell'AD. Il reddito netto per il 2023 è stato di 3.157.658 dollari, con un guadagno basilare di 13,7 centesimi per azione. La capitalizzazione di mercato è salita a 1.540.413 dollari. Il valore contabile per azione è aumentato a 0,178 dollari. Le azioni preferenziali convertibili Serie Q hanno registrato un rendimento annuo medio del 13,4% negli ultimi sei anni.
Mentor Capital, Inc. informa en su 10-K de 2023 que el efectivo supera el precio de la acción, con un valor teórico de desintegración del efectivo que sobrepasa el precio de la acción. Los directores, incluido el CEO, compraron más de 2 millones de acciones. Se aprobó un segundo plan de recompra de acciones por 3 millones de acciones. La compañía vendió una unidad subsidiaria por 6 millones de dólares, aumentando las inversiones en energía. La deuda y las obligaciones fueron saldadas, y se ajustaron los honorarios de las reuniones para directores y el salario del CEO. El ingreso neto para 2023 fue de 3,157,658 dólares con una ganancia básica de 13.7 centavos por acción. La capitalización de mercado aumentó a 1,540,413 dólares. El valor en libros por acción subió a 0.178 dólares. Las acciones preferentes convertibles Serie Q mostraron un retorno promedio anual del 13.4% durante seis años.
Mentor Capital, Inc.는 2023년 10-K 보고서에서 현금이 주가를 초과하며 이론적 현금 분할 가치가 주가를 상회한다고 보고했습니다. 이사진, CEO 포함, 200만 주 이상을 매입했습니다. 300만 주에 대한 두 번째 주식 매입 계획이 승인되었습니다. 회사는 자회사를 600만 달러에 매각하여 에너지 투자를 증가시켰습니다. 부채와 채무가 청산되었고, 이사 및 CEO의 회의 수당과 급여가 조정되었습니다. 2023년 순이익은 3157658달러로 기본 주당 이익은 13.7센트였습니다. 시장 자본화는 1540413달러로 증가했습니다. 주당 장부 가치는 0.178달러로 상승했습니다. Q시리즈 전환우선주는 6년간 평균 연간 13.4%의 수익률을 보였습니다.
Mentor Capital, Inc. rapporte dans son 10-K de 2023 que la trésorerie dépasse le prix de l'action, avec une valeur théorique de rupture de caisse surpassant le prix de l'action. Les directeurs, y compris le PDG, ont acheté plus de 2 millions d'actions. Un second plan de rachat d'actions pour 3 millions d'actions a été approuvé. La société a vendu une unité filiale pour 6 millions de dollars, augmentant les investissements dans l'énergie. Les dettes et passifs ont été éliminés, et les honoraires de réunion pour les directeurs et le salaire du PDG ont été ajustés. Le revenu net pour 2023 était de 3 157 658 dollars avec un gain de base de 13,7 cents par action. La capitalisation boursière a augmenté à 1 540 413 dollars. La valeur comptable par action a augmenté à 0,178 dollar. Les actions préférentielles convertibles série Q ont montré un retour annuel moyen de 13,4% sur six ans.
Mentor Capital, Inc. berichtet in seinem 10-K für 2023, dass die Bargeldreserven den Aktienpreis übersteigen, mit einem theoretischen Liquidationswert, der den Aktienpreis übertrifft. Die Direktoren, einschließlich des CEO, kauften über 2 Millionen Aktien. Ein zweiter Aktienrückkaufplan für 3 Millionen Aktien wurde genehmigt. Das Unternehmen verkaufte eine Tochtergesellschaft für 6 Millionen Dollar, was die Investitionen in Energie steigerte. Schulden und Verbindlichkeiten wurden beglichen und die Sitzungsgelder für Direktoren sowie das Gehalt des CEO wurden angepasst. Der Nettogewinn für 2023 betrug 3.157.658 Dollar mit einem Basisgewinn von 13,7 Cent pro Aktie. Die Marktkapitalisierung stieg auf 1.540.413 Dollar. Der Buchwert pro Aktie stieg auf 0,178 Dollar. Die Serie Q Convertible Preferred Stock erzielte über sechs Jahre eine durchschnittliche jährliche Rendite von 13,4%.
Positive
Cash exceeds share price in Mentor Capital's 2023 10-K.
Directors, including the CEO, purchased over 2 million shares.
Approval of a second stock buyback plan for 3 million shares.
Sale of a subsidiary unit for $6 million to boost energy investments.
Retirement of debts and liabilities, adjustment of meeting fees for directors, and CEO's salary increase.
Net income for 2023 was $3,157,658 with a basic gain of 13.7 cents per share.
Market capitalization increased to $1,540,413.
Book value per share rose to $0.178.
Series Q Convertible Preferred Stock showed a 13.4% average annual return over six years.
Negative
None.
PLANO, Texas--(BUSINESS WIRE)--
Mentor Capital, Inc. (OTCQB: MNTR), a classic energy company, in its 2023 10-K, reported cash of $0.10 per share with no net debt versus today’s share price of $0.04 per share. During 2023, the Company announced that the theoretical cash breakup value of the business may exceed the price of the stock. In support and response, three directors, including the CEO, purchased a total of 2,128,117 Mentor common shares. Commencing in June 2023, the Company initiated and soon thereafter completed the stock repurchase of the final 255,252 of a 300,000 share repurchase plan. During the fourth quarter of 2023, the Board of Directors of the Company approved a second stock repurchase plan authorizing the Company to repurchase up to 3,000,000 shares of the Company’s common stock. The second stock repurchase is anticipated to start during the spring of 2024.
On October 4, 2023, Mentor sold its interest in a subsidiary unit in a $6,000,000 transaction comprised of $5,000,000 in cash and a $1,000,000 one-year note. The cash proceeds of the sale were used to increase Mentor Capital’s energy investments in Exxon Mobil Corp., Occidental Petroleum Corp., Chevron Corp., Cameco Corp., a uranium investment, and Arch Resources, Inc., a coal investment, which together now total the majority of the Company’s non-cash assets.
At year-end, substantially all debts and liabilities of the Company were retired including significant accumulated benefits owed to the CEO from over a large number of years. The meeting fees to directors were increased to $2,500, and the CEO’s annual salary was increased to $208,000 per year to adjust for inflation. Finally, the assignable Series D warrants were reset to 2 cents per share for original owners and for assignees after a 10 cent redemption fee is paid. There are currently 4,250,000 Series D warrants outstanding.
The Company reports that for the twelve months ended December 31, 2023, Mentor had net income of $3,157,658 with a resulting basic gain of 13.7 cents per share, or 12.2 cents on a diluted basis. On December 31, 2023 and currently, the Company has 24,686,105 common shares and 11 Series Q convertible preferred shares outstanding. No equity was granted to directors, insiders, consultants, or investor relations firms during the year ending December 31, 2023.
The Company's shares finished the year at a closing price of $0.062 per share, representing a market capitalization of $1,540,413 compared to a 2022 year-end closing price of $0.050 per share and a corresponding market capitalization of $1,147,068. The Company finished the year with a book value of $4,393,717 or $0.178 per share, compared to a book value of $1,726,099 or $0.075 per share at 2022 year-end.
The Series Q Convertible Preferred Stock, for accredited investors, first valued at $10,000 per share on May 30, 2018, was valued at $20,843 per share on December 31, 2023, which is an approximate 13.4% average compound annual rate of return over each of the last six years.
About Mentor Capital: As an operating company, Mentor seeks to acquire already cash flowing oil & gas, uranium, and coal businesses, assets and royalties by applying the residual $3,000,000 in current and upcoming cash, plus Mentor public stock, coupled with future incoming equity and debt, if any. Mentor looks to support operators, owners and investors who, in addition to cash, wish to have the option to be able to continue to operate and, in this way, capitalize on the best choice of continuing to harvest production or to participate in public stock when that is more lucrative.
The Company is managed by Chairman and CEO Chet Billingsley (71), who founded Mentor Capital first as an acquisition partnership in 1985. Mr. Billingsley's interest is reported at 7.51% on a fully diluted basis as of December 31, 2023, with other directors and officers holding an additional 6.72% on a fully diluted basis.
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 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 and are sometimes identified by words of condition such as "should," "could," "expects," "may," "intends," "seeks," "looks," "moves," or "plans" and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results or direction 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, problems securing financing, the potential of competitive products, services, and technologies, difficulties experienced in product development, in recruiting and retaining key and knowledgeable personnel, in protecting intellectual property, and the effects of adverse worldwide economic events, such as the coronavirus recovery, government regulations, ESG challenges, energy regulations, and inflation. Further information concerning these, and other risks is included in the Company's Form 10-K filing, which, along with additional very important details on the Company, can be found here: https://ir.mentorcapital.com/all-sec-filings
The Company undertakes no obligation to update or revise such forward-looking statements to reflect new information, events, or circumstances occurring after the date of this press release.
Mentor Capital reported cash exceeding share price in its 2023 10-K.
How many shares were purchased by directors, including the CEO?
Directors, including the CEO, purchased a total of 2,128,117 Mentor common shares.
What was the approval related to stock buyback plans?
The Board of Directors approved a second stock repurchase plan authorizing the Company to repurchase up to 3,000,000 shares of the Company’s common stock.
What was the value of the subsidiary unit sold by Mentor Capital?
Mentor Capital sold its interest in a subsidiary unit in a $6,000,000 transaction.
What was the net income for Mentor Capital in 2023?
Mentor Capital had net income of $3,157,658 for the twelve months ended December 31, 2023.
What was the market capitalization of Mentor Capital at the end of 2023?
The market capitalization of Mentor Capital was $1,540,413 at the end of 2023.
What was the book value per share for Mentor Capital at the end of 2023?
The book value per share for Mentor Capital was $0.178 at the end of 2023.
What was the average annual return for Series Q Convertible Preferred Stock over six years?
The Series Q Convertible Preferred Stock showed an approximate 13.4% average compound annual rate of return over each of the last six years.
