Billingsley Chester 4
4 · Mentor Capital, Inc. · Filed Apr 7, 2026
Research Summary
AI-generated summary of this filing
Mentor Capital (MNTR) CEO Billingsley Converts Preferred into 5.9M Shares
What Happened
Chester Billingsley, CEO of Mentor Capital, converted 11 Series Q Convertible Preferred Shares into 5,906,107 shares of Mentor Capital common stock on April 3, 2026. The conversion had a reported aggregate value of $347,279.12 (implied common share price $0.0588). He also made a small open-market purchase on April 7, 2026: 897 common shares at $0.06 each for $57.
The Form 4 shows the 11 Series Q preferred were surrendered (disposed) as part of the conversion (derivative transaction code C). The separate purchase (code P) was a routine open-market buy and is a modest direct purchase (a bullish signal is possible but small in size).
Key Details
- Primary conversion: 4/3/2026 — 11 Series Q preferred converted into 5,906,107 common shares; conversion value $347,279.12; implied common price $0.0588.
- Open-market purchase: 4/7/2026 — 897 shares at $0.06, total $57.
- The filing was submitted 4/7/2026 covering the 4/3/2026 conversion; timeliness (late or on-time) is not specified in the provided excerpt.
- Shares owned after the transactions are not specified in the provided data.
- Footnote highlights:
- F1: Billingsley bought the 11 Series Q preferred on Jan 12, 2026 for $204,488 ($18,590/share). Series Q have no expiration and convert to common at no additional cost; conversion value is defined in the Certificate of Designation.
- F2: On April 3, those 11 Series Q were eligible and converted into 5,906,107 common shares at the Series Q Conversion Value noted above.
Context
- Conversion explanation: Converting preferred shares into common is not a sale — it exchanges a derivative/preferred security for common stock, increasing the insider’s common-share holdings and the company’s common share count.
- The small open-market buy (897 shares, $57) is a direct purchase but economically minor.
- These types of filings are factual disclosures of ownership changes; they do not by themselves explain the insider’s intent.
Insider Transaction Report
- Conversion
Common Stock
[F1]2026-04-03+5,906,107→ 9,106,506 total - Purchase
Common Stock
2026-04-07$0.06/sh+897$57→ 9,107,403 total - Conversion
Series Q Preferred Shares
[F1][F2]2026-04-03$0.06/sh−11$1→ 0 total→ Common Stock (5,906,107 underlying)
Footnotes (2)
- [F1]On January 12, 2026, the Reporting Person purchased 11 Series Q Convertible Preferred Shares of the Company from a third party for a total of $204,488 at $18,590 per share. The Series Q Preferred Shares have no expiration date and can be converted into Common Stock at no additional cost. The per share Series Q Conversion Value is defined in the Certificate of Designation. The per share Series Q Conversion Value shall be equal to the quotient of the Core Q Holdings Asset Value divided by the number of issued and outstanding shares of Series Q Preferred Stock. The Conversion Price of the Series Q Preferred Stock shall be at the product of one hundred and five percent and the closing price of the Common Stock of the Company on a date designated and published by the Company to Series Q holders. On April 3, 2026, 11 Series Q Convertible Preferred Shares were eligible to be converted into 5,906,107 shares of the Company's Common Stock.
- [F2]On April 3, 2026, 11 Series Q Convertible Preferred Shares were converted by Reporting Person into 5,906,107 shares of the Company's Common Stock at the Series Q Conversion Value of $347,279.12 for 11 Series Q Convertible Preferred Shares at a Common Stock Price of $0.0588 per Common Share.