2024 Q2 Form 10-Q Financial Statement
#000109690624001177 Filed on May 17, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | ||
Cost Of Revenue | $0.00 | $0.00 |
YoY Change | ||
Gross Profit | $0.00 | $0.00 |
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $484.4K | $64.86K |
YoY Change | 658.11% | 2.11% |
% of Gross Profit | ||
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $484.4K | $64.86K |
YoY Change | 658.15% | 2.12% |
Operating Profit | -$484.4K | -$64.86K |
YoY Change | 658.15% | 2.12% |
Interest Expense | ||
YoY Change | ||
% of Operating Profit | ||
Other Income/Expense, Net | -$265.6K | |
YoY Change | ||
Pretax Income | -$750.0K | -$64.86K |
YoY Change | 1073.74% | 2.11% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$750.0K | -$64.86K |
YoY Change | 1074.15% | 2.15% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | -$0.01 | $0.00 |
Diluted Earnings Per Share | -$0.01 | $0.00 |
COMMON SHARES | ||
Basic Shares Outstanding | 62.72M shares | 42.02M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $102.7K | $1.060K |
YoY Change | 6482.69% | -50.93% |
Cash & Equivalents | $102.7K | $1.060K |
Short-Term Investments | ||
Other Short-Term Assets | ||
YoY Change | ||
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $102.7K | $1.060K |
YoY Change | 6490.95% | -90.5% |
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 | $102.7K | $1.060K |
Total Long-Term Assets | $0.00 | $0.00 |
Total Assets | $102.7K | $1.060K |
YoY Change | 6490.95% | -90.5% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $362.8K | $332.9K |
YoY Change | 19.36% | 24.85% |
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 | $362.8K | $398.4K |
YoY Change | 13.03% | 49.4% |
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 | $362.8K | $398.4K |
Total Long-Term Liabilities | $0.00 | $0.00 |
Total Liabilities | $362.8K | $398.4K |
YoY Change | 265.95% | 788.1% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$30.11M | -$29.36M |
YoY Change | 3.09% | 0.74% |
Common Stock | $6.291K | $4.202K |
YoY Change | 49.71% | -90.0% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$38.23K | -$175.5K |
YoY Change | ||
Total Liabilities & Shareholders Equity | $102.7K | $1.060K |
YoY Change | 6490.95% | -90.5% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$750.0K | -$64.86K |
YoY Change | 1074.15% | 2.15% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$114.9K | -$28.18K |
YoY Change | 553.27% | 230.95% |
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 | 216.5K | $29.00K |
YoY Change | 1173.76% | |
NET CHANGE | ||
Cash From Operating Activities | -114.9K | -$28.18K |
Cash From Investing Activities | 0.000 | $0.00 |
Cash From Financing Activities | 216.5K | $29.00K |
Net Change In Cash | 101.6K | $820.00 |
YoY Change | -17325.42% | -109.63% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$114.9K | -$28.18K |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
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Document Type
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Document Period End Date
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2024-03-31 | |
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Spectral Capital Corporation | |
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<p style="font:10pt Times New Roman;margin:0"><b>NOTE 1 – BUSINESS AND NATURE OF OPERATIONS </b></p> <p style="font:8pt Times New Roman;margin:0"> </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 such as software, hardware, telecommunications, internet and e-commerce, cloud computing and biotech. Given the competitive landscape within these sectors, Spectral recognizes the potential value and functionality of utilizing artificial intelligence in some or all of its applications. Spectral has acquired significant stakes in two non-active technology companies (Noot and Monitr) 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) (“Sky”) 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. 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> <p style="font:8pt 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">We believe the underlying technologies for both Noot and Monitr have the potential to create profitable businesses on their own but require substantial capital to upgrade their software to become competitive. We are actively seeking optimal partners for these assets in order to develop these services to their full potential.</p> | |
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UseOfEstimates
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<p style="font:10pt Times New Roman;margin:0;text-align:justify"><b>Use of Estimates</b></p> <p style="font:10pt Times New Roman;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> |