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Insider Trading March 27, 2026

Mentor Capital CEO Makes Small-Scale Buy Amid Volatile Trading

Billingsley Chester adds 4,100 shares for $298 as company transitions auditors and maintains complex equity structure

By Ajmal Hussain MNTR
Mentor Capital CEO Makes Small-Scale Buy Amid Volatile Trading
MNTR

Mentor Capital, Inc. (OTC: MNTR) Chief Executive Officer Billingsley Chester purchased 4,100 shares of the company’s common stock across two transactions on March 25 and March 26, 2026, spending a combined $298. The purchases were disclosed in a Form 4 with the Securities and Exchange Commission and leave Chester with 3,200,396 directly held shares. The company, which has a market capitalization of approximately $1.5 million, also disclosed outstanding warrants and convertible preferred shares, and recently shifted its independent registered public accounting firm to Cherry Bekaert LLP following the acquisition of its prior auditor.

Key Points

  • CEO Billingsley Chester purchased 4,100 shares of Mentor Capital’s common stock in two trades on March 25 and March 26, 2026, spending $298 in total - 3,000 shares at $0.07 and 1,100 shares at $0.08.
  • After the transactions, Chester directly owns 3,200,396 common shares and additionally holds 47,274 Series D Warrants exercisable at $0.02, plus 11 Series Q Preferred Shares convertible into 2,592,159 common shares as of December 31, 2025.
  • Mentor Capital has a market capitalization near $1.5 million and disclosed a change in independent auditors to Cherry Bekaert LLP following that firm’s acquisition of the company’s prior auditor, Spicer Jeffries LLP; the switch was approved by the audit committee and board and became effective January 13.

Mentor Capital, Inc. (OTC: MNTR) reported insider purchases by Chief Executive Officer Billingsley Chester in two small transactions at the end of March 2026. According to a Form 4 filing with the Securities and Exchange Commission, Chester acquired a total of 4,100 shares of common stock - 3,000 shares on March 25 at $0.07 per share and 1,100 shares on March 26 at $0.08 per share. The combined outlay for the two trades was $298.

Following those purchases, Mr. Chester directly holds 3,200,396 shares of Mentor Capital common stock, the filing shows. The company’s share price was cited at $0.07 in the filing, and the stock has returned 56% over the past year despite recent volatility in trading.

The SEC filing also details several other elements of Chester’s equity stake in Mentor Capital. He holds 47,274 Series D Warrants that can be exercised for common shares at an exercise price of $0.02. In addition, Chester owns 11 Series Q Preferred Shares that were eligible for conversion into 2,592,159 shares of common stock as of December 31, 2025.

Mentor Capital is a small-cap issuer with a market capitalization reported at roughly $1.5 million. The filing notes that InvestingPro analysis suggests the stock appears undervalued and that seven additional ProTips are available to subscribers of that service.

Separately, the company disclosed a change in its independent registered public accounting firm. Cherry Bekaert LLP was appointed as Mentor Capital’s new independent registered public accounting firm after Cherry Bekaert acquired the company’s previous auditor, Spicer Jeffries LLP. Mentor Capital’s audit committee and board of directors approved the transition, which became effective January 13. The company’s relationship with Spicer Jeffries concluded on January 12 as a result of the acquisition. The filing indicates the change but the company has not provided further comment on any implications arising from the auditor switch.

All insider transaction details were reported via the required SEC Form 4 filing. The size of the CEO’s investment in late March was modest in absolute dollars, and the filing provides additional context on convertible and warrant instruments that expand the potential future share count tied to Chester’s holdings.

Risks

  • Small absolute dollar size of the CEO’s recent purchases may limit the market signal typically associated with insider buying - impacts investor interpretation across small-cap equities.
  • Convertible securities and warrants materially expand potential future share count, which could affect dilution and valuation for existing shareholders in the small-cap market segment.
  • Change in independent auditor following an acquisition of the prior auditor introduces a transition that the company has not publicly elaborated on, creating uncertainty in the audit oversight for stakeholders in the financial reporting and corporate governance domains.

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