Spectral Capital Corp Files Q3 2024 10-Q

TL;DR

Spectral Capital Corp's Q3 2024 10-Q is in. Check financials.

AI Summary

Spectral Capital Corp filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its fiscal year end of December 31st. The company is incorporated in Nevada and headquartered in Seattle, Washington.

Why It Matters

This filing provides investors with an update on Spectral Capital Corp's financial health and operational status for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

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

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20241119 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• SPECTRAL CAPITAL Corp (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241119 (date) — Filing date
• SEATTLE (location) — Company headquarters city
• NV (location) — State of incorporation

FAQ

Key Financial Figures

• $0 — amount of 67,992,516 shares, par value $0.0001, of which there is only a single c

Filing Documents

• fccn-20240930.htm (10-Q) — 455KB
• fccn_ex10z1.htm (EX-10.1) — 11KB
• fccn_ex10z2.htm (EX-10.2) — 28KB
• fccn_ex10z3.htm (EX-10.3) — 12KB
• 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
• 0001096906-24-002191.txt ( ) — 2410KB
• fccn-20240930_cal.xml (EX-101.CAL) — 21KB
• fccn-20240930_def.xml (EX-101.DEF) — 78KB
• fccn-20240930_lab.xml (EX-101.LAB) — 151KB
• fccn-20240930_pre.xml (EX-101.PRE) — 132KB
• fccn-20240930.xsd (EX-101.SCH) — 29KB
• fccn-20240930_htm.xml (XML) — 209KB

- 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 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 20

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 22

SIGNATURES

SIGNATURES 23 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 nine months ended September 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 S eptember 30 , 2024 and December 31, 2023 (unaudited) F-2 Condensed Consolidated Statements of Operations for the Three and N ine Months Ended September 30 , 202 4 and 2023 (unaudited) F-3 Condensed Consolidated Statements of Stockholders' Deficit for the Three A nd Nine Months Ended September 30 , 2024 and 2023 (unaudited) F-4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30 , 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 SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 (UNAUDITED) September 30, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 190,614 $ 240 Current assets 190,614 240 Deposits 134,862 - Total assets $ 325,476 $ 240 Liabilities and Stockholders' Deficit: Current liabilities Accounts payable and accrued liabilities $ 398,808 $ 290,119 Related party advances and accruals - 6,150 Short-term advances - 36,450 Current liabilities 398,808 332,719 Total liabilities 398,808 332,719 Commitments and contingencies Stockholders' Deficit: Preferred stock, par value $ 0.0001 , 5,000,000 shares authorized, no shares issued and outstanding - - Series Quantum Preferred Stock, 2,000,000 and 0 shares authorized, 1,000,000 and 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023 100 - Common s

View Full Filing

View this 10-Q filing on SEC EDGAR