Mentor Capital Inc (OTCMKTS:MNTR) has doubled its total count of active investors who have equities in a brokerage account in the preceding quarter. The total number of shareholders has surged 100% to 6,000 from a count of 3,000 a quarter earlier.
Chet Billingsley, the CEO of Mentor Capita, said that each quarter he personally welcome all new fellow-owner recorded by brokers with an appreciation. So it turned out to be a particularly happy recent job. The additional free cash funds from growing approximately $2 million last December 28 verdict against Bhang Corporation, for fading to return 2014 investment of $1.5 million after they rejected and violated the contract, appears of particular positive interest to investors.
Ironically, the success of Bhang Corporation in the medicinal marijuana, vape markets and recreational cannabis further improves the surety of collection on the verdict, with or without the help of U.S. Marshall servicing in all states where Bhang has operations. Mentor states that it has already agreeably discussed a tentative offer worth $1.9 million from a third party launched by Bhang owners. However, that was not reserved at a time with a non-refundable deposit of $100,000.
Mentor Capital stated that in part because of this cash and growth, it is seeking to apply to join the 399 firms in the OTCQX, the premium tier of the 10,000 firms organized by OTCMarkets. All features of qualification are arranged, considerably including net tangible asset levels, market makers, bid price, market cap, audited financials, number of shareholders, independent directors, an audit committee and full SEC reporting. Following the next board’s meeting, it is expected that the formal paperwork will be filed to OTCMarkets for consideration.
In parallel with the expectations for up listing, the firm posted it is planning to further simplify its straightforward capital structure, which will help in up listing on OTCQX.