$FCCN
SPECTRAL CAPITAL Corp

2023 Q3 Form 10-Q Financial Statement

#000109690623001585 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit Margin
Selling, General & Admin $45.72K $63.90K
YoY Change -69.2% -49.34%
% of Gross Profit
Research & Development $0.00
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $45.72K $63.90K
YoY Change -69.2% -49.34%
Operating Profit -$45.72K -$63.90K
YoY Change -153.41% -77.38%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income -$45.72K -$63.90K
YoY Change -153.4% -77.38%
Income Tax
% Of Pretax Income
Net Earnings -$45.70K -$63.88K
YoY Change -153.37% -77.38%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 42.02M shares 42.02M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.120K $1.560K
YoY Change 4.67% -98.24%
Cash & Equivalents $1.116K $1.558K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.116K $1.558K
YoY Change -98.52% -99.94%
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
YoY Change
TOTAL ASSETS
Total Short-Term Assets $1.116K $1.558K
Total Long-Term Assets $0.00 $0.00
Total Assets $1.116K $1.558K
YoY Change -98.52% -99.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $336.1K $304.0K
YoY Change 231.57% 322.18%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $366.3K $321.0K
YoY Change 74.94% -87.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $366.3K $321.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $144.4K $99.14K
YoY Change -1262.64% -95.9%
SHAREHOLDERS EQUITY
Retained Earnings -$29.25M -$29.21M
YoY Change 0.8% 0.34%
Common Stock $4.202K $4.202K
YoY Change -90.0% -90.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$143.3K -$97.58K
YoY Change
Total Liabilities & Shareholders Equity $1.116K $1.558K
YoY Change -98.52% -99.94%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$45.70K -$63.88K
YoY Change -153.37% -77.38%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$14.02K -$17.59K
YoY Change -83.96% -1016.15%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.58K 17.00K
YoY Change
NET CHANGE
Cash From Operating Activities -14.02K -17.59K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 13.58K 17.00K
Net Change In Cash -440.0 -590.0
YoY Change -99.5% -130.73%
FREE CASH FLOW
Cash From Operating Activities -$14.02K -$17.59K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>NOTE 1 – BUSINESS AND NATURE OF OPERATIONS </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;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, financing of technology that has the potential to transform existing industries. The Company looks for technology that can be protected through patents or laws regarding trade secrets.  Spectral has acquired significant stakes in three technology companies currently and actively works with management to drive these companies toward increasing market penetration in their particular verticals.  Spectral intends to own, in full or in part, technology companies whose founders and key management can take advantage of the deep networks and experience in technology development embodied in Spectral management.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;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. 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. The company has temporarily paused its telecommunications business and is seeking a new telecommunications partner. We hope to resume this business within the 2023 fiscal year. </p>
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<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>Use of Estimates</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The preparation of 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 the 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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