Spectral Capital Corp. Appoints New Auditor
Ticker: FCCN · Form: 8-K · Filed: May 8, 2024 · CIK: 1131903
| Field | Detail |
|---|---|
| Company | Spectral Capital Corp (FCCN) |
| Form Type | 8-K |
| Filed Date | May 8, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
Spectral Capital swapped auditors, bringing in Armanino LLP after Weinberg & Company resigned.
AI Summary
Spectral Capital Corp. announced a change in its certifying accountant on May 3, 2024. The company's previous accountant, Weinberg & Company, P.A., resigned, and the Audit Committee of the Board of Directors has appointed Armanino LLP as the new independent registered public accounting firm. This change is effective immediately.
Why It Matters
A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors should monitor.
Risk Assessment
Risk Level: low — The filing solely reports a change in the company's independent auditor, which is a routine administrative event.
Key Players & Entities
- Spectral Capital Corp. (company) — Registrant
- Weinberg & Company, P.A. (company) — Previous certifying accountant
- Armanino LLP (company) — New certifying accountant
- May 3, 2024 (date) — Date of earliest event reported
FAQ
Why did Weinberg & Company, P.A. resign as Spectral Capital Corp.'s certifying accountant?
The filing states that Weinberg & Company, P.A. resigned, and that there were no disagreements between the company and the accountant on any matter of accounting principles or practices or financial statement disclosure.
When was Armanino LLP appointed as the new independent registered public accounting firm?
Armanino LLP was appointed as the new independent registered public accounting firm by the Audit Committee of the Board of Directors, effective immediately as of May 3, 2024.
Did the company have any disagreements with its former accountant on accounting principles?
No, the filing explicitly states that there were no disagreements between Spectral Capital Corp. and Weinberg & Company, P.A. on any matter of accounting principles or practices or financial statement disclosure.
What is the effective date of the change in certifying accountant?
The change in certifying accountant is effective immediately as of May 3, 2024.
Who made the decision to appoint the new independent registered public accounting firm?
The Audit Committee of the Board of Directors of Spectral Capital Corporation made the decision to appoint Armanino LLP as the new independent registered public accounting firm.
Filing Stats: 693 words · 3 min read · ~2 pages · Grade level 13.7 · Accepted 2024-05-08 14:34:42
Filing Documents
- fccn-20240503.htm (8-K) — 19KB
- 0001096906-24-001063.txt ( ) — 144KB
- fccn-20240503_def.xml (EX-101.DEF) — 2KB
- fccn-20240503_lab.xml (EX-101.LAB) — 20KB
- fccn-20240503_pre.xml (EX-101.PRE) — 13KB
- fccn-20240503.xsd (EX-101.SCH) — 2KB
- fccn-20240503_htm.xml (XML) — 2KB
01. Change in Registrants Certifying Accountant
Item 4.01. Change in Registrants Certifying Accountant. Effective May 4, 2024, Spectral Capital Corporation. (the "Company) dismissed BF Borgers CPA PC ("BF Borgers") as its independent registered public accounting firm. The Company has not yet engaged a replacement auditing firm as BF Borgers' replacement. The decision to change independent registered public accounting firms was made with the recommendation and approval of the Board of Directors of the Company. BF Borgers' audit reports on the Company's consolidated financial statements as of and for the fiscal years ended December 31, 2023 and December 31, 2022 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to audit scope or accounting principles. During the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period through the date of this report, there were no disagreements, as that term is defined in Item 304(a)(1)(iv) of Regulation S-K, between the Company and BF Borgers on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to BF Borgers' satisfaction, would have caused BF Borgers to make reference to such disagreements in its audit reports. During the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period through the date of this report, there were no reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K. The U.S. Securities and Exchange Commission (the "SEC") has advised that, in lieu of obtaining a letter from BF Borgers stating whether or not it agrees with the statements herein, the Company may indicate that BF Borgers is not currently permitted to appear or practice before the SEC for reasons described in the SEC's Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) exhibits Exhibit Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SPECTRAL CAPITAL CORPORATION Date: May 8, 2024 By: /s/ Jenifer Osterwalder Name: Jenifer Osterwalder Title: Chief Executive Officer