$FCCN
SPECTRAL CAPITAL Corp

2023 Q1 Form 10-K Financial Statement

#000109690623000648 Filed on March 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $98.32K $98.32K
YoY Change -100.0%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $98.32K $98.32K
YoY Change -100.0%
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $63.52K $339.4K $339.4K
YoY Change -24.89% 772.22% 97.05%
% of Gross Profit 345.18% 345.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $63.52K $339.4K $339.4K
YoY Change -24.89% 772.22% 97.05%
Operating Profit -$63.52K -$241.1K -$241.1K
YoY Change -556.94% 39.96%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$63.52K -$241.1K -$241.1K
YoY Change -556.98% 519.53% 39.96%
Income Tax
% Of Pretax Income
Net Earnings -$63.50K -$241.0K -$241.0K
YoY Change -556.16% 519.67% 39.97%
Net Earnings / Revenue -245.11% -245.1%
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 42.02M shares 420.2M shares 34.64M shares
Diluted Shares Outstanding 42.02M shares 34.64M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.160K $10.67K $10.67K
YoY Change -97.5% 4003.85% 4003.85%
Cash & Equivalents $2.157K $10.67K $10.67K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $9.000K $25.00K $25.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.16K $35.67K $35.67K
YoY Change -96.66% 13412.12% 13619.23%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $11.16K $35.67K $35.67K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $11.16K $35.67K $35.67K
YoY Change -96.66% 13412.12% 13619.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $266.7K $227.7K $227.7K
YoY Change 640.75% -81.95% -81.95%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $266.7K $227.7K $227.7K
YoY Change -82.6% -81.97% -81.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $266.7K $227.7K $227.7K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $44.86K $5.880K $5.880K
YoY Change -96.58% -99.44% -99.44%
SHAREHOLDERS EQUITY
Retained Earnings -$29.14M -$29.08M
YoY Change 0.84%
Common Stock $42.02K $4.202K
YoY Change -64.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$33.70K $29.79K $29.79K
YoY Change
Total Liabilities & Shareholders Equity $11.16K $35.67K $35.67K
YoY Change -96.66% 13412.12% 13619.23%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$63.50K -$241.0K -$241.0K
YoY Change -556.16% 519.67% 39.97%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$8.515K $4.100K -$45.02K
YoY Change -123.42% -260.78% 57.97%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $49.93K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 5.500K $55.43K
YoY Change -100.0% 120.0% 95.52%
NET CHANGE
Cash From Operating Activities -$8.515K 4.100K -$45.02K
Cash From Investing Activities $0.00 0.000 $0.00
Cash From Financing Activities $0.00 5.500K $55.43K
Net Change In Cash -$8.515K 9.600K $10.41K
YoY Change -109.87% -19300.0% -7038.67%
FREE CASH FLOW
Cash From Operating Activities -$8.515K $4.100K -$45.02K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"><b>NOTE 1 – BUSINESS AND NATURE OF OPERATIONS</b></p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Spectral Capital Corporation (the “Company” or “Spectral”) was incorporated on September 13, 2000 under the laws of the State of Nevada. Spectral is focused on the identification, acquisition, development, and financing of technology that has the potential to transform existing industries.  Spectral has acquired significant stakes in two technology companies as well as interests within telecommunications, data and switching services, specifically providing international long distance reselling services on a business-to-business (B2B) basis.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">In January 2022, the Company commenced a new line of business which is providing data and telecommunications reselling services on a global basis.  On February 15, 2022, the Company entered into a telecommunications services agreement with Sky Data PLL OU (Estonia) to provide long distance switching services. The contract does not contain a fixed term or value and is on an as needed basis via invoice for Sky Data PLL OU. The Company is focusing on this line of business and is currently expanding its network on an as needed basis by adding as many ports as its customers require in any given month. We provide business to business (B2) telecommunications interconnection services to mainly Asia, South America and Africa. This is done by negotiating directly with international private and public carriers for telecommunications rates based on certain volume and transaction levels.</p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">Our wholesale voice services provide global routing solutions and direct bilateral connections with many major PTTs, Tier-1 carriers and Mobile operators around the world to further expand our network and improve voice quality. Our global network is comprised of over 100 Tier 1 carriers, Mobile Operators &amp; PTTs from across all continents. A geographically-load balanced, multi-data center architecture design ensures 99.999% uptime and business continuity with 24-hour fully redundant, state-of-the-art Network Operations Center (NOC) and we conduct routine security audits.</p>
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<p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify"><b>Use of Estimates</b></p> <p style="font:10pt Times New Roman;margin:0;color:#000000;text-align:justify">The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting period.  Actual results could differ from those estimates.</p>
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Files In Submission

Name View Source Status
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fccn_ex10z1.htm Edgar Link pending
fccn_ex10z2.htm Edgar Link pending
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