Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

Note 21 – Segment Information

The Company is an operating, acquisition, and investment business. Subsidiaries in which the Company has a controlling financial interest are consolidated. The Company generally has two reportable segments; 1) the historic cannabis and medical marijuana segment which includes the cost basis of our former membership interests of Electrum, the former contractual interest in the Electrum legal recovery, the settlement payments receivable from G Farma and its co-defendants, the former finance lease payments receivable from Pueblo West to Partner II, the operation of subsidiaries Mentor IP and Partner I in the cannabis and medical marijuana sector, and 2) the Company’s long standing investment in WCI which works with business park owners, governmental centers, and apartment complexes to reduce their facility related operating costs. Additionally, the Company formerly had small investments in securities listed on the NYSE and NASDAQ, an investment in note receivable from a non-affiliated party, the fair value of convertible notes receivable and accrued interest from NeuCourt, which on July 15, 2022 was exchanged for a NeuCourt SAFE security investment that will be carried at cost, and the investment in NeuCourt that is included in the Corporate, Other, and Eliminations section below.

	Cannabis and Medical Marijuana Segment		Facilities Operations Related			Corporate, Other, and Eliminations			Consolidated
2022
Net sales	$	37,659	$	7,670,641		$	(2,585	)	$	7,705,715
Operating income (loss)		32,909		(830,098	)		(828,109	)		(1,625,298	)
Interest income		-		5			58,725			58,730
Interest expense				46,321			33,878			80,199
Total assets		1,000		3,302,931			1,689,961			4,993,892
Property additions		-		63,089			-			63,089
Fixed asset depreciation and amortization		-		69,176			2,081			71,257
2021
Net sales	$	40,764	$	5,969,674		$	-		$	6,010,438
Operating income (loss)		26,849		95,336			(526,521	)		(404,336	)
Interest income		-		3			70,226			70,229
Interest expense		-		38,330			24,062			62,392
Total assets		900,484		2,240,047			1,645,910			4,786,441
Property additions		-		160,102			1,264			161,366
Fixed asset depreciation and amortization		-		45,936			5,744			51,710

The following table reconciles operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes for the years ended December 31, 2022 and 2021, as presented in the consolidated income statements:

	2022			2021
Operating loss	$	(1,625,298	)	$	(404,336	)
Employee retention tax credit (WCI)		1,350,161			-
Realized gain (loss) on investments in securities		(170,418	)		1,017
Impairment of investments		-			22,718
Interest income		58,730			70,229
Interest expense		(80,199	)		(62,392	)
Gain (loss) on equipment disposals		56,455			86
PPP loan forgiven		-			87,122
EIDL Grant		-			-
Other income		58,027			38,870
Income before income taxes	$	(352,542	)	$	(246,686	)

Mentor Capital, Inc.

Notes to Consolidated Financial Statements

December 31, 2022 and 2021