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Trailing Revenues at 200% of Current Market Capitalization Following Texas Expansion
Mentor Capital, Inc. (OTCQB: MNTR) announced in its 10-Q filing for the first quarter of 2021 that revenues increased 15% during the first quarter compared to the same quarter in 2020. Compared to one year earlier, trailing twelve-month revenues increased 14% to $5.0 million or 22 cents per share. The May 17, 2021 closing Mentor share price was 11 cents per share, corresponding to a current market capitalization of $2.5 million.
Mentor CEO, Chet Billingsley, attributes the revenue changes to the combination of the business expansion and move into Texas, the waning of the COVID-19 impact on the economy, and new explorations into the crypto sector.
In its 10-Q filing to the SEC for the quarter ending March 31, 2021, the Company reports that Mentor had revenues of $1,320,624 and gross profit of $436,392 with a resulting net loss attributable to Mentor of ($146,923) or (0.6 cents) per share. This is a betterment over the prior-year quarter ended March 31, 2020, in which Mentor had revenues of $1,149,462 and gross profit of $385,102 with a resulting net loss attributable to Mentor of ($247,770) or (1.1 cents) per share.
On February 17, 2021, Mentor received a second Paycheck Protection Program loan of $76,593 from the U.S. Small Business Administration, from which the Company may apply for forgiveness.
On March 31, 2021, there were 22,850,947 Company shares or share equivalents issued and outstanding. No equity was granted to directors, insiders, consultants, or investor relations firms in the first quarter of 2021. The Company's shares finished the quarter at a closing price of $0.165 per share, representing a market capitalization of $3,770,406 compared to a 2020 year-end closing price of $0.081 per share and a corresponding market capitalization of $1,850,927.
The Company is managed by Chairman, CEO, and director Chet Billingsley (68), who founded Mentor Capital first as an acquisition partnership in 1985. Mr. Billingsley's interest is reported at 12.43% on a fully diluted basis as of May 14, 2021, with other directors and officers holding an additional 6.71%.
The Form 10-Q may be referenced through the SEC's EDGAR system at: https://www.sec.gov/edgar/searchedgar/companysearch.html or at the Company's website: www.MentorCapital.com, where additional important information for investors can be found.
About Mentor Capital: The Company seeks to come alongside and assist private companies with their founders and investors in meeting their liquidity, equity financing, and acquisition objectives. The Company is currently exploring expansion to its start in the crypto space, looking at plastics companies, expanding its existing Waste Consolidators operation into Texas, and collecting on or selling off the Company's former cannabis financings, patents, leases, and legal proceedings.
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 and is subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated.
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.
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Mentor Capital, Inc.
Chet Billingsley, CEO