2024 Q1 Form 10-K Financial Statement

#000109690624000647 Filed on March 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change
Gross Profit $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit Margin
Selling, General & Admin $64.86K $42.34K $215.5K
YoY Change 2.11% -87.52% -36.51%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $64.86K $42.34K $215.5K
YoY Change 2.12% -87.52% -36.51%
Operating Profit -$64.86K -$42.34K -$215.5K
YoY Change 2.12% -82.44% -10.61%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$64.86K -$42.34K -$215.5K
YoY Change 2.11% -82.44% -10.61%
Income Tax
% Of Pretax Income
Net Earnings -$64.86K -$42.31K -$215.4K
YoY Change 2.15% -82.44% -10.62%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 42.02M shares 42.02M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.060K $240.00 $240.00
YoY Change -50.93% -97.75% -97.75%
Cash & Equivalents $1.060K $240.00 $240.00
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 $1.060K $240.00 $240.00
YoY Change -90.5% -99.33% -99.33%
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 $1.060K $240.00 $240.00
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $1.060K $240.00 $240.00
YoY Change -90.5% -99.33% -99.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $332.9K $296.3K $296.3K
YoY Change 24.85% 30.13% 30.13%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $398.4K $332.7K $332.7K
YoY Change 49.4% 46.14% 46.14%
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 $398.4K $332.7K $332.7K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $398.4K $110.8K $110.8K
YoY Change 788.1% 1784.86% 1784.86%
SHAREHOLDERS EQUITY
Retained Earnings -$29.36M -$29.30M
YoY Change 0.74% 0.74%
Common Stock $4.202K $4.202K
YoY Change -90.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$175.5K -$110.6K -$110.6K
YoY Change
Total Liabilities & Shareholders Equity $1.060K $240.00 $240.00
YoY Change -90.5% -99.33% -99.33%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$64.86K -$42.31K -$215.4K
YoY Change 2.15% -82.44% -10.62%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$28.18K -$7.400K -$47.53K
YoY Change 230.95% -280.49% 5.57%
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 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $29.00K 6.520K 37.10K
YoY Change 18.55% -33.07%
NET CHANGE
Cash From Operating Activities -$28.18K -7.400K -47.53K
Cash From Investing Activities $0.00 0.000 0.000
Cash From Financing Activities $29.00K 6.520K 37.10K
Net Change In Cash $820.00 -880.0 -10.43K
YoY Change -109.63% -109.17% -200.21%
FREE CASH FLOW
Cash From Operating Activities -$28.18K -$7.400K -$47.53K
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 non-active 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 January 3, 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 from Sky Data PLL OU. The Company has paused this line of business and plans to resume activities within the 2024 fiscal year. We intend to keep our partnership with Sky and together form partnerships with existing carriers who have substantial customers and without third party intervention. We intend to provide business to business (B2) telecommunications interconnection services to international clientele and are currently in talks with vendors. </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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0001096906-24-000647-index.html Edgar Link pending
0001096906-24-000647.txt Edgar Link pending
0001096906-24-000647-xbrl.zip Edgar Link pending
fccn-20231231.htm Edgar Link pending
fccn-20231231.xsd Edgar Link pending
fccn_ex31z1.htm Edgar Link pending
fccn_ex31z2.htm Edgar Link pending
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