Mentor Capital, Inc.
For the period ended Dec 31, 2025. Filed Apr 15, 2026.
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FY2025 · Filed Apr 15, 2026
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Item 14. Principal Accounting Fees and Services
The following table summarizes the fees, as applicable, of Spicer Jeffries, LLP, our former independent auditor who was acquired by Cherry Bekaert LLP in 2025, and BF Borgers CPA PC, our former independent auditor, for the fiscal years ended December 31, 2025 and 2024.
| Fee Category · 2025 · 2024 | ||||
|---|---|---|---|---|
| Audit Fees (1) | $77,000 | (5) | $78,500 | (6) |
| Audit-Related Fees (2) | - | - | ||
| Tax Return Fees (3) | $4,000 | - | ||
| All Other Fees (4) | - | - | ||
| (1) | Audit fees include the audit of our annual financial statements, review of our quarterly financial statements, and services that are normally provided by the independent auditors in connection with engagements for those fiscal years. This category also includes advice on audit and accounting matters that arose during, or as a result of, the audit or the review of interim financial statements. |
| (2) | Audit-related fees consist of assurance and related services by the independent auditors that are reasonably related to the performance of the audit or review of our financial statements and are reported above under “Audit Fees.” The services for the fees disclosed under this category include consultation regarding our correspondence with the SEC and other accounting consulting. Mentor did not incur any audit-related fees in fiscal years 2025 or 2024. |
| (3) | The services for the fees disclosed under this category include tax return preparation and technical tax advice. |
| (4) | All other fees, if any, consist of fees for other miscellaneous items. |
| (5) | In 2025, the Company paid a total of $77,000 in audit fees to Spicer Jeffries, LLP, our former independent auditor. |
| (6) | In 2024, the Company paid a total of $78,500 in audit fees. The Company paid $60,500 to BF Borgers CPA PC, our former independent auditor, and $18,000 to Spicer Jeffries, LLP, our former independent auditor. |
Our Board has adopted a procedure for pre-approval of all fees charged by our independent auditors. Under the procedure, the Chairman of the Board approves the engagement letter with respect to audit, tax, and review services. Other fees are subject to pre-approval by the Board or, in the period between meetings, by a designated member of the Board. Any such approval by the designated member is disclosed to the entire Board at the next meeting. The audit and tax fees paid to the auditors with respect to 2025 and 2024 were pre-approved by the entire Board and our Audit Committee Chair.
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