Q:  Chet,  did you actually go to Harvard, MIT, Harvard Business School, West Point, and (gasp) Berkeley?

A:  Yes, but the core is West Point and Harvard University from where I have a Master’s Degree in Applied Physics.  This is back from about when Moby Dick was a minnow, but in 1970 a Representative Karth and as a secondary Senator Walter Mondale, both from Minnesota, gave me a congressional appointment to West Point.  As you might guess, I was more academic than military and for the senior summer, instead of going to Ranger School, I was the one student sent to Harry Diamond Labs to do Laser Research.  I won the research award against all other universities by being the first in the world with a type of wavelength tunable IR laser and was published at the age of 20 yrs. The USMA Academic Board sent me to compete for the Rhode’s Scholarship later that year.  I only made it to the second round, which may have been because the Viet Nam War, and hence the military academy, was unpopular.  Regardless, I had never failed before, was depressed and got (6) too many demerits ( a shoe shine and a late for class ) and had to go before the Academic Board, again. The Viet Nam War was tailing down and good officers were being rifted from the military,  In that situation, the Board made, I think, a wise decision, that I am most grateful for.  I was clearly more professorial than gung ho, so they left it up to me. I could choose to give up graduating, go immediately to graduate school and be on the hook to come back I think they were thinking as perhaps as a civilian professor (5 departments had invited me to return to teach) or in some other capacity anytime over the next 10 years. Or, I could repeat some unspecified period of time to make up for the (6) demerits, graduate, and become an Army Officer for 5 years.  A few days later, I understand to the surprise of many, I informed them that I was accepting the academic route, would skip my BS, and they forwarded my transcripts to Harvard.  (I remained on inactive reserve for 10 years.  We had no wars to pull teaching officers away from West Point and I was not needed.  In 1984 I received an honorable discharge.)  I’ve remained active in my class and will be going to my 40th Class reunion on October 11, 2014,.  Undoubtedly, there we’ll see Classmates Gen David Patreaus (CIA), Kieth Alexander (NSA) and Marty Dempsey (Joint Chiefs).  Someday, I’d like to take a sabbatical and teach physics at West Point for $1.

But, back on our historic timeline, without a Bachelor’s Degree and I arrived a few weeks later at Harvard in July 1974.  I discussed my research, talked to the Dean of the Division of Engineering and Applied Physics, and they accepted me straight into graduate school for Applied Physics two months later.  I was fortunate to study under two Nobel Laureates separately in Physics and Economics.  A year or so after that I had earned a Master’s Degree.  I substituted in some classes at MIT in their Nuclear Engineering Department studying the use of proton radiology to cure difficult to treat cancers in conjunction with Mass General Hospital.  I also, substituted in Business Policy classes over at Harvard Business School on my way to getting an MS in Applied Physics from Harvard University.

As an interesting bit of observation, I’d note that the Harvard folks did seem to be genius-like, but only in a focused area, like economics;  That the MIT fellows did indeed seem to have a robust calculator plugged into the back of their skulls; the HBS crowd was the “best” just ask them, and West Pointers were focused to get any job done, whatever that might be.  Each group was their own unique stereotype.

Finally. my Cannabis friends jokingly remind me, to my own conservative chagrin, that the only reason I’m allowed near the Medical Marijuana space is that I took a very left-leaning Berkeley extension class on Business Law a few years later.

 

Q: Is it possible for a shareholder to become a company designee to redeem and exercise any unused warrants?

A: Yes. In accordance with the Section 1145 US Code order with associated SEC “No Comment” letter, Mentor Capital management has a fiduciary duty to allow for alternative designees to redeem warrants in the case they are not exercised by the original holder.  Shareholders interested in being back-up designees should contact the company for that possible arrangement.  Many long-time shareholders are aware of the warrant processes.  If you are uncertain of the warrant, designee and redemption process you should call management to not miss a significant economic event.  If you are a shareholder who does not have warrants, you should absolutely contact management at (760) 788 – 4700 to receive a full explanation.

 

Q: When can I exercise my warrants? Do I have to wait until they are called?

A: You can always exercise your warrants at any time. Some folks even exercised before trading started. To help start the conversation with your advisers, recognize that there are two competing forces that you would naturally consider.  First, if you exercise a warrant for a rapidly gaining stock at the strike price (e.g, $1 for a $1 warrant) then you pay no taxes. If instead, you wait to exercise , and it rises to , say, $4, then the $3 gain is short-term capital gain at the time of exercise, even if you never sell.  In the example, by paying the same $1 earlier, rather than later, approximately $1 in taxes are permanently shielded. The second case is if taxes are not an issue. Then you would want to wait until the call to exercise.  In that way, you keep your money working for you earning interest as long as possible.

As always, check with your own tax adviser and financial adviser because these are complex issues beyond the scope of a FAQ response.

 

Q: I have a lot of warrants, will I be able to do a cashless exercise?

A: No. However, to help, Mentor plans to file a 15(c)2-11 to attempt to get approval for the series D warrants to be traded alongside the Mentor Capital shares. If wholly successful, this would allow warrant holders to sell their warrants directly into the market without having to put up any cash at all.

 

Q: What is the Cancer Immunotherapy Index?

A: The Cancer Immunotherapy Index is an equally weighted information only index that tracks the gain in what started as ten (10) leading cancer immunotherapy companies and has been tracked since July 10, 2009, when Mentor Capital first announced its investment into the cancer immunotherapy sector.

 

Click to view as PDF

Click to view as PDF

 

The Index includes all companies Mentor Capital recognizes as substantially concentrated in cancer immunotherapy work without regard to quality, potential or risk.

Mentor Capital, Inc. specifically is not giving investment advice by regularly publishing this mathematically calculated, information only, CI Index that portrays historic data.

Seek expert advice to assist you before you consider investing in MNTR or Cancer Immunotherapy Index Companies.

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