In its last quarterly report, Mentor Capital Inc (OTCMKTS:MNTR) stated that revenue for the quarter closed June 2016 was $667,720 versus $628,386 for the quarter closed June 30, 2015, a jump of $39,334. This increase can be attributed to a jump in WCI monthly service fees offset by a decrease in revenue from CAST.
Mentor Capital reported that Gross profit for the quarter closed June 2016 was $239,313 as against gross profit of $237,701 for the prior year quarter. Cost of goods sold link mainly to WCI which witnessed gross profit of 35.8% for the reported period as against 34.9% for the same quarter, a year earlier, a growth of 0.9%.
This can be attributed to decrease in fuel costs, decrease in contract labor, salary and related costs and a drop in cost of goods sold, partially offset by a jump in equipment rental costs as a percent of total revenue over the same period, a year ago.
Mentor Capital main objective is to focus future investments in the medicinal marijuana and cannabis sector. The company intends to take considerable positions in companies active in the same industry. It will offer public market liquidity to founders, funding for cannabis firms, protection for investors and to nurture private cannabis firms that have the prospect to be spun off as separate pubic firms.
When company takes a notable position in its investees it offers financial management when required, but provides operating control to the founders of cannabis company. Retaining control, getting greater liquidity and functioning with an experienced firm to efficiently develop compliance and disclosures to consider the public markets are major benefits to cannabis founders associated with Mentor.
Because medical marijuana and adult social use opportunities overlap, the company participates in the legalized recreational marijuana industry. Mentor’s main focus is medical marijuana market and it plans to facilitate the use of cannabis to Parkinson’s disease, cancer wasting, calming seizures, mitigating ocular heaviness from glaucoma and dampening chronic pain.