Billingsley Chester 4

What Happened Billingsley Chester, CEO of Mentor Capital, reported three purchases of the company’s common stock on a Form 4. The transactions were: 2,900 shares on 2026-02-25 at $0.08 (reported $245), 1,000 shares on 2026-02-26 at $0.08 (reported $84), and 1,400 shares on 2026-02-27 at $0.08 (reported $117). Aggregate reported purchases total 5,300 shares for $446. These were purchases (transaction code P), which are purchases of stock rather than sales.

Key Details

• Transaction dates and prices: 2026-02-25 (2,900 @ $0.08), 2026-02-26 (1,000 @ $0.08), 2026-02-27 (1,400 @ $0.08). Reported aggregate = $446.
• Filing date: Form 4 filed 2026-02-27 (appears timely based on the reported transaction dates).
• Shares owned after transaction: Not disclosed in the data provided.
• Transaction type: P = Purchase (open market or private purchase as reported).
• Notable footnotes from the filing:
  • F1: Series Q Preferred Stock held by the filer (or referenced) is convertible into Common Stock at the holder’s option into a number of shares determined by the Series Q Conversion Value / Conversion Price; conversion at no additional cost and no expiration date.
  • F2: The Series Q per‑share conversion value is calculated quarterly; the Conversion Price is 105% of a published closing price. As of 2025-12-31, 11 Series Q convertible preferred shares were eligible to convert into 2,592,159 common shares (per the Certificate of Designation).

Context

• The dollar amount is small (reported aggregate $446), so the trades are modest in scale and unlikely to move the market or indicate a large personal investment stake. Purchases by executives are often watched by investors as a sign of confidence, but the filing alone does not reveal motive.
• The filing includes details about convertible Series Q preferred shares that can dilute common shares if converted; this is a separate convertible security mechanism disclosed in the Form 4 footnotes, not a direct part of the small open‑market purchases above.