Mentor Capital Inc (OTCMKTS:MNTR) Cash Balances At $1.2 Million

Mentor Capital Inc (OTCMKTS:MNTR) reported in a year-end letter to its shareholders that the firm would be closing the year with $1.2 million cash on hand and no debt in the parent firm except for long-dormant non-interest impact IOU’s to the founder, the CEO Chet Billingsley. He quantifies the prospect for the new year by stating that Colorado cannabis sales can come around $1 billion in 2016.

However, the California population, where recreational application was legalized by supporters, is seven times as large. They are based in California and are working with 4 institutional investors to extend their financial resources to support prime marijuana firms getting ready to excel within the state, and elsewhere.

The highlights

In addition to Mentor’s current cash holdings, the firm is now progressing toward approving its award as a judgment and aggressively accumulating around $1.5 million from its July 19 legal award allowed against Bhang Corporation. The company compensated $1.5 million to Bhang and owners a couple of years ago in FY2014 and the arbitration board concluded in its honor that Bhang breached the deal by failing to deliver its shares. Mentor’s plea for the recession of the deal is approved and Bhang is not eligible to any damages.

Mentor’s most recent deal is in Puerto Rico and comprises a farming facility under 5-year lease. The Puerto Rican prospect was highlighted by Mentor’s CEO and briefly broadcasted on HBO – Vice in the first week of December.

The company is offering cannabis industry advisory to Green Vision Systems, Corp. established by the public firm Puerto Rican interests and Stereo Vision Entertainment, Inc. Upon the success of a registration with the U.S. SEC, the company has earlier reported it plans to distribute its 500,000 Green Vision shares to firm’s 4,000 shareholders to enable them to contribute in ownership of the Puerto Rican cannabis operations in addition to their Mentor holdings.