Our Continuing Progress

May 11, 2010  

Cancer Immunotherapy Index Clarifications

Mentor Capital's positioning with regard to the the Cancer Immunotherapy Index is shifting so it is important to clarify a few items as they evolve.  The original and continuing intent of the Cancer Immunotherapy Index is to convey how the cancer immunotherapy sector has done by reporting its recent but historic values.  The Index is a mathematical report of how a theoretical equally weighted investment in each company at the start of the Index July 10, 2009 has done to date. 

Importantly, Mentor Capital does not give investment advice by regularly publishing this Index at no charge.  From an investment viewpoint, the Index probably contains a mix of good and bad companies, but Mentor makes no opinion with regard to this.  Do your own due diligence and seek investment advice before investing in MNTR or Cancer Immunotherapy Index Companies. 

The original purpose for setting up the Index was to see how the cancer immunotherapy sector was doing as a whole and then using that as a benchmark against which to measure Quantum Immunologics.  Originally, MNTR was only focused on a merger with Quantum, who is a Cancer Immunotherapy Index company.    Later, we added the possibility of investing in other cancer immunotherapy companies.  I believe it is important to recognize that an investment in a Cancer Immunotherapy Index company can take both the form of a purchase of stock, but it can also take the form of an acquisition.  Both are investments but with considerably different regulatory, tax and accounting treatment. 

When Mentor Capital indicates that it is making investments across the Cancer Immunotherapy Index, some of those investments may be acquisitions and a single acquisition can be quite large compared to several stock purchases. 

May 10, 2010  

Disagreement with QI Management

Mentor Capital has taken issue with QI management for not holding director elections at the annual meeting of shareholders or ever.  Compensation was also set by the board prior to the formation of a independent compensation committee.  To bring things to the attention of other QI shareholders MNTR initiated a proxy contest.  An independent QI Shareholders' Committee was also formed to ask for their own proxies to get independent directors seated.  Mentor would guess that QI will continue to try to break its contract with Mentor until Mentor prevails, an amicable settlement is reached or further legal actions are brought to bear. 

December 13, 2009

Info on Series C ($5) Warrant Call at $0.65 for 45 days

On Monday, December 14, 2009, the Series C ($5) Warrants were reset by the Company to $0.65 and called.  The warrants must be exercised either with a broker before the close of business on Monday, February 1, 2010, or exercised directly through the Company by sending a check directly to the Company at Mentor Capital, Inc.,  PO Box 1709, Ramona, CA  92065, with a postmark of February 1, 2010 or earlier.  The check should be payable to Mentor Capital and be equal to the number of warrants you hold multiplied by $0.65 per warrant.  If you only wish to exercise a portion of your warrants you may do so.  If you want to receive the residual warrants back in a stub certificate, the transfer agent will charge you $20 for that. For partial exercise with a stub certificate reissued, please also remit a second check for $20 payable to MC Transfer. 

Your Series C Warrants are green, and are marked with a number like WC-xxxx.  They may be issued in the name Mentor Capital or Main Street AC, Inc.  Both the earlier and the current name work just fine and there is no need to update your warrants.  Be sure not to confuse your "WC" warrants with your also green share certificates numbered C-xxxx (The xxx could be any number).   The share certificates only, were reverse split 1000 to 1.  If you have a share certificate in hand, you can send that in to the Company with your WC warrant and check, and we will consolidate your few old Main Street AC shares with the new Mentor Capital shares you are buying.  Remember, 1000 old Main Street shares equals and converts to 1 Mentor Capital share.  This reverse split did not affect the warrants however, which convert 1 for 1.  

If you have lost your warrants you will need to send in a signed note that says, "I have lost my warrants, please replace them. If I find the old ones I will destroy them".  With the note you can exercise your warrants by sending in a check equal to the number of C warrants that you own multiplied by $0.65.  If you are unsure of how many C warrants you own, please call Chet Billingsley at (760) 788 - 4700 to discuss. 

Each warrant holder is also being separately noticed in the mail which you should receive by December 21st.  Your notice will have all the information you need including the amount of the check needed at $0.65 each to exercise your warrants, all together with a stamped return envelope.  A personal check is fine, and you do not need to endorse or notarize the back of the warrants for the certs that are going back to you.  Please indicate exactly in which name you wish the certificate issued and exactly to which address you wish it shipped to.  Also, if you talk to some of the  investment professionals that we have retained, please write their name on the letter I have sent you when you return it to exercise warrants.

As a smart heads up, be sure to check your tax situation.   Quite possibly, if you exercise in late 2009 you will be positioned to take profits at a lower capital gains rate in late 2010.  If you exercise just a few weeks later in early 2010, your capital gains tax rate may be considerably higher in 2011.  Most importantly, things happen, and if you have not exercised by February 1, 2010, your warrants will be redeemed away and you may only get a pittance a year from now.  If you can get this out of the way before the end of the year it keeps you safe "just in case", it may save you 10% to 20% on taxes, it strengthens the Company's year end balance sheet and it accelerates our fight against cancer.  Thanks.

October 3, 2009

Early October Trading

On October 2, 2009, there was an unexplained increase in selling volume resulting in a share price decline.  There is no business reason that I know of to justify this.  As a guess, I can report that  I was contacted by a large shareholder with regard to easy ways to liquidate to cover an  unrelated personal liability that was owed (No insiders, officers or control persons involved).  While I was in New York presenting to three investment groups, his broker called the office to get some data that would help a sale.  I suspect, but do not know for certain, that that is the source of the Friday selling.  As a general rule of thumb, until we move to the OTCBB where volume is larger, any holder will get a better price by breaking up their selling into smaller blocks and spreading the sales over a bit of time so enough interested buyers can buy at a fair price.

August 15, 2009

Major Shareholders Re-elected as MNTR Directors

At the Annual Meeting of Shareholders on August 15, 2009, the management slate for the new board each received votes from approximately 99.2% of voted shares except for CEO, Chet Billingsley who received votes in excess of 99.9% . Re-elected were Chet Billingsley (56), Earl Kornbrekke (66), Jim Blazeck (57), Sten Shaul (46) and Sharon Breon (56), who will all serve as directors for the next yearly term. All directors are major shareholders. Ms. Breon has an accounting and investing background. All other directors have been presidents of their own companies and none, other than Mr. Billingsley, is an insider.

July 15, 2009

The news of our acquiring a significant interest in Quantum Immunologics, Inc. is a blockbuster announcement for MNTR. Quantum Immunologics, Inc. holds exclusive licenses to processes that get the dendritic cells in the patient's own blood to instruct the body's immune system to attack the OFA protein found on breast and other cancers. The patient feels like they have the flu rather than going through chemotherapy, radiation and surgeries.

Dendreon (DNDN) is a similar pre-revenue company that does cancer immunotherapy for prostate cancer. Their market capitalization is $2.5 Billion. That is 575 times bigger for an equal percentage of our breast cancer processes. This is about as exciting as it could get. We have been pushing very hard to get the stock price to reflect the value that we are building up in the company. Our cash and stock investments support us well and we are making dynamite returns there. This should be a great year!

September 6, 2008

90-Day Call For Series A($1) Warrants Issued

MNTR stock closed its first week of trading up 135% at $2.35 per share. With the closing BID above $2.00, the Company, as obligated, Called the Series A Warrants to buy shares at $1 each. Series A warrant holders have 90 non-contiguous trading days during which the closing bid remains at least at $2.00 or greater in which to exercise their warrants. At the end of the 90-day period, unexercised warrants will be redeemed by others for 10 cents each which will be sent to the original holder 30 days later, through the Company.

August 29, 2008

On Friday, August 29, 2008, FINRA approved a price for the market maker to price our shares and enter of $1.00 BID by $1.10 ASK. Just before the end of the trading day, BMA Securities was able to put up the quote and was soon joined on the box by Hill Thompson Magid who previously made a market in our stock for many years. Mentor Capital has purchased, and shareholders can follow, Level II detail of each market makers' quote and number of shares committed at each price at PinkSheets.com under the symbol MNTR.

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