Spectral Capital Corp Files 10-Q for Q2 2024

TL;DR

Spectral Capital Corp filed its Q2 2024 10-Q. Financials are in.

AI Summary

Spectral Capital Corp filed its 10-Q for the period ending June 30, 2024. The filing details financial information for the company, which is incorporated in Nevada and operates in computer processing and data preparation services. The company's principal executive offices are located in Seattle, Washington.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Spectral Capital Corp, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new disclosures.

Key Players & Entities

• SPECTRAL CAPITAL Corp (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240813 (date) — Filing Date
• 7374 (number) — Standard Industrial Classification Code
• NV (state) — State of Incorporation
• SEATTLE (city) — Business Address City
• WA (state) — Business Address State
• 98105 (zip_code) — Business Address Zip Code

FAQ

Key Financial Figures

• $0 — amount of 107,649,516 shares, par value $0.0001, of which there is only a single c
• $12,000 — Jenifer Osterwalder charges the Company $12,000 per month beginning January 1, 2021 for

Filing Documents

• fccn-20240630.htm (10-Q) — 381KB
• fccn_ex31z1.htm (EX-31.1) — 8KB
• fccn_ex31z2.htm (EX-31.2) — 8KB
• fccn_ex32z1.htm (EX-32.1) — 3KB
• fccn_ex32z2.htm (EX-32.2) — 3KB
• 0001096906-24-001689.txt ( ) — 1955KB
• fccn-20240630_cal.xml (EX-101.CAL) — 18KB
• fccn-20240630_def.xml (EX-101.DEF) — 43KB
• fccn-20240630_lab.xml (EX-101.LAB) — 123KB
• fccn-20240630_pre.xml (EX-101.PRE) — 106KB
• fccn-20240630.xsd (EX-101.SCH) — 24KB
• fccn-20240630_htm.xml (XML) — 181KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements F-1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 4.

Controls and Procedures

Controls and Procedures 16

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 12 Item 1A.

Risk Factors

Risk Factors 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3. Defaults Upon Senior Securities 17 Item 4. Mine Safety Disclosures 17 Item 5. Other Information 17 Item 6. Exhibits 18

SIGNATURES

SIGNATURES 19 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Form 10-Q, press releases and certain information provided periodically in writing or verbally by our officers or our agents contain statements which constitute forward-looking statements. The words "may", "would", "could", "will", "expect", "estimate", "anticipate", "believe", "intend", "plan", "goal", and similar expressions and variations thereof are intended to specifically identify forward-looking statements. These statements appear in a number of places in this Form 10-Q and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of us, our directors or our officers, with respect to, among other things: (i) our liquidity and capital resources; (ii) our financing opportunities and plans; (iii) our ability to generate revenues; (iv) competition in our business segments; (v) market and other trends affecting our future financial condition or results of operations; (vi) our growth strategy and operating strategy and ; (vii) the declaration and/or payment of dividends. Investors and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as the result of various factors. The factors that might cause such differences include, among others, those set forth in Part II, Item 7 of this annual report on Form 10-Q, entitled Management's Discussion and Analysis or Plan of Operation, including without limitation the risk factors contained therein. Except as required by law, we undertake no obligation to update any of the forward-looking statements in this Form 10-Q after the date of this report.

: Financial Statements

Item 1: Financial Statements Our unaudited interim financial statements for the three and six months ended June 30, 2024 and 2023 are part of this quarterly report. They are stated in United States Dollars (US$) and are prepared in accordance with United States generally accepted accounting principles. INDEX TO UNAUDITED FINANCIAL STATEMENTS Condensed Consolidated Financial Statements of Spectral Capital Corporation, Inc. Condensed Consolidated Balance Sheets as of J une 30 , 2024 and December 31, 2023 (unaudited) F-2 Condensed Consolidated Statements of Operations for the Three and Six Months Ended March 31, 2024 and 2023 (unaudited) F-3 Condensed Consolidated Statements of Stockholders' Deficit for the Three And Six Months Ended March 31, 2024 and 2023 (unaudited) F-4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (unaudited) F-6 Notes to the Condensed Consolidated Financial Statements (unaudited) F-7 F-1 SPECTRAL CAPITAL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2024 AND DECEMBER 31, 2023 (UNAUDITED) June 30, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 102,687 $ 240 Current assets 102,687 240 Total assets $ 102,687 $ 240 Liabilities and Stockholders' Deficit: Current liabilities Accounts payable and accrued liabilities $ 362,807 $ 290,119 Related party advances and accruals - 6,150 Short-term advances - 36,450 Current liabilities 362,807 332,719 Total liabilities 362,807 332,719 Commitments and contingencies Stockholders' Deficit: Preferred stock, par value $ 0.0001 , 5,000,000 shares authorized, no shares issued and outstanding - - Common stock, par value $ 0.0001 , 1,000,000,000 and 500,000,000 shares authorized, 62,899,302 and 42,017,948 shares issued and outstanding as of June 30, 2024 and December 31, 2023 6,291 4,202 Additional paid-in capital 30,066,959 29,181,804 Acc

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View this 10-Q filing on SEC EDGAR