Mentor Capital Insider Report: Billingsley Adds Shares, Holds Warrants

Rhea-AI Filing Summary

Mentor Capital, Inc. director and CEO Chester Billingsley reported purchases of 17,500 shares on 09/11/2025 at $0.0797 per share and 9,300 shares on 09/12/2025 at $0.0798, bringing his direct common stock holdings to 2,775,596 shares. He also reports direct ownership of 47,274 Series D warrants exercisable into common stock at $0.02 through 05/11/2038. The Form 4 is signed 09/12/2025.

Insights

Financial Analyst

TL;DR: Insider purchased modest additional common shares, slightly increasing direct ownership; holdings remain concentrated with warrants extending long-term upside.

The transactions are small relative to total shares outstanding but signal insider buying at sub-$0.10 prices. Total direct common shares after the purchases are 2,775,596, and the 47,274 Series D warrants provide potential future dilution at a $0.02 exercise price through 2038. No sales or option exercises were reported.

Corporate Governance Expert

TL;DR: CEO and director filed timely Form 4 reporting small open-market purchases and existing warrants; disclosure appears routine and compliant.

Filing identifies Billingsley as a director, CEO and >10% owner and shows purchases on consecutive days. The signature and clear transaction codes are present, meeting Section 16 reporting requirements. There are no indications of rule 10b5-1 plan reliance disclosed on the form.

Insider Trade Summary

Net Buyer: 26,800 shares ($2,137)

Net Buy 3 txns

Insider Billingsley Chester

Role Chief Executive Officer

Bought 26,800 shs ($2K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	9,300	$0.0798	$742.14
Purchase	Common Stock	17,500	$0.0797	$1K
holding	Series D Warrants	--	--	--

Holdings After Transaction: Common Stock — 2,775,596 shares (Direct); Series D Warrants — 47,274 shares (Direct)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Billingsley Chester

(Last) (First) (Middle)

5964 CAMPUS COURT

(Street)

PLANO TX 75093

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Mentor Capital, Inc. [ MNTR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/11/2025		P		17,500	A	$0.0797	2,766,296	D
Common Stock	09/12/2025		P		9,300	A	$0.0798	2,775,596	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series D Warrants	$0.02							04/11/2000	05/11/2038	Common Stock	47,274		47,274	D

Explanation of Responses:

	/s/ Chester Billingsley	09/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.