Billingsley Chester 4

What Happened
Billingsley Chester, CEO of Mentor Capital, acquired a total of 2,000 shares via two purchase transactions: 600 shares on 2026-01-26 at $0.08 ($51) and 1,400 shares on 2026-01-27 at $0.08 ($119), for a combined cash outlay of approximately $170. These were purchases (transaction code P), which are generally viewed as a more informative signal than routine sales because they involve the insider adding to a stake.

Key Details

• Transaction dates and prices: 2026-01-26 — 600 shares @ $0.08 ($51); 2026-01-27 — 1,400 shares @ $0.08 ($119). Total = 2,000 shares @ $0.08, ~$170.
• Transaction type: Open market or private purchases (code P).
• Filing info: Form 4 filed 2026-01-28, reporting period begins 2026-01-26; filing appears timely (not flagged late).
• Shares owned after transaction: Not specified in the provided filing details.
• Notable footnotes: Series Q Preferred Stock is convertible into common shares at no additional cost; conversion value is calculated quarterly and the conversion price is 105% of a designated closing price. As of 12/31/2025, 11 Series Q shares were convertible into 2,592,159 common shares — a potential source of significant dilution if converted.

Context
This was a very small-dollar insider buy (~$170 total), so while purchases can signal confidence, the trade size here is modest. The Series Q convertible preferred footnotes are important for shareholders because they describe a mechanism that could dramatically increase common shares outstanding if those preferred shares convert. The filing provides facts on the purchases but does not state Chester’s post-transaction total holdings.