Spectral Capital Corp. Files 8-K: Agreements, Acquisitions, and Equity Sales

TL;DR

Spectral Capital Corp. just filed an 8-K detailing material agreements, asset acquisitions, and equity sales from Sept 10th.

AI Summary

On September 10, 2024, Spectral Capital Corp. entered into a material definitive agreement and completed the acquisition of assets. The company also reported unregistered sales of equity securities and provided a Regulation FD disclosure. The filing includes financial statements and exhibits.

Why It Matters

This 8-K filing indicates significant corporate activity for Spectral Capital Corp., including new agreements, asset acquisitions, and equity transactions, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing details material definitive agreements, asset acquisitions, and unregistered equity sales, which can introduce financial and operational risks.

Key Players & Entities

• SPECTRAL CAPITAL Corp (company) — Registrant
• September 10, 2024 (date) — Earliest event reported
• Nevada (jurisdiction) — State of incorporation
• 4500 9TH AVENUE NE, SEATTLE, WA 98105 (address) — Business and mailing address

FAQ

Key Financial Figures

• $15,000,000 — he Target for a total purchase price of $15,000,000, paid through the issuance of the Excha

Filing Documents

• fccn-20240910.htm (8-K) — 34KB
• fccn_ex10z1.htm (EX-10.1) — 23KB
• fccn_ex99z1.htm (EX-99.1) — 7KB
• fccnex10z1_1.jpg (GRAPHIC) — 8KB
• 0001096906-24-001861.txt ( ) — 214KB
• fccn-20240910_def.xml (EX-101.DEF) — 2KB
• fccn-20240910_lab.xml (EX-101.LAB) — 20KB
• fccn-20240910_pre.xml (EX-101.PRE) — 13KB
• fccn-20240910.xsd (EX-101.SCH) — 2KB
• fccn-20240910_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Martial Definitive Agreement 3

01

Item 2.01 Completion of Acquisition or Disposition of Assets 3

02

Item 3.02 Unregistered Sales of Equity Securities 3

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Item 7.01 Regulation FD Disclosure 3

Financial Statements and Exhibits

Financial Statements and Exhibits 4 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Current Report contains forward-looking statements, including, without limitation, in the sections captioned "Description of Business," "Risk Factors," and and elsewhere. Any and all statements contained in this Report that are not statements of historical fact may be deemed forward-looking statements. Terms such as "may," "might," "would," "should," "could," "project," "estimate," "pro-forma," "predict," "potential," "strategy," "anticipate," "attempt," "develop," "plan," "help," "believe," "continue," "intend," "expect," "future," and terms of similar import (including the negative of any of the foregoing) may be intended to identify forward-looking statements. However, not all forward-looking statements may contain one or more of these identifying terms. Forward-looking statements in this Report may include, without limitation, statements regarding (i) the plans and objectives of management for development and commercialization of our planned technologies (ii) our limited financial resources, and (iii) need for additional capital to fund our operations. The forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon our current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which we have no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, our inability to obtain adequate financing, lack

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On September 10, 2024, the Company entered into an Acquisition Agreement to exchange shares (the " Exchange Agreement ") with Crowdpoint Technologies, Inc., a Texas corporation (" Seller "), a company controlled by Sean Michael Brehm, also known as Sean Michael Obrien, the Chairman of our Board of Directors, and its wholly owned subsidiary, Crwdunit Inc., a Delaware corporation (" Target "), whereby the Company agreed to acquire from the Seller, and Seller agreed to sell to the Company, 100% of the Target's outstanding shares in exchange for 3,750,000 newly issued shares (the " Exchange Shares ") of the Company's common stock, $.0001 par value (the " Common Stock "). The Company will acquire 100% of the issued and outstanding shares of the Target for a total purchase price of $15,000,000, paid through the issuance of the Exchange Shares. The closing of the transaction (the " Closing ") is expected to occur by December 10, 2024, subject to the satisfaction of the following conditions: Approval by the boards of directors of the Company and Target All necessary regulatory approvals and compliance with applicable securities and commercial laws. Completion of satisfactory due diligence by both parties, including financial, legal, technical, and operational audits. Execution of all necessary legal agreements, including those governing the transfer of the Crwdunit Utility and Quantization Mechanism intellectual property. Confirmation that all Target shareholders have been duly notified and rights have been protected according to this term sheet.

01. Completion of Acquisition or Disposition of Assets

Item 2.01. Completion of Acquisition or Disposition of Assets. The information contained in 1.01 above is incorporated into this Item 2.01.

02. Unregistered Sales of Equity Securities

Item 3.02. Unregistered Sales of Equity Securities. As explained in Item 1.01 above, we entered into the Exchange Agreement which obligates us to issue 3,750,000 shares of the Common Stock to the Seller. The issuance of the shares will be exempt from registration under Section 4(2) of the Securities Act as transactions by an issuer not involving any public offering. The shares of Common Stock will not be sold through an underwriter and, accordingly, there were no underwriting discounts or commissions involved.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On September 11, 2024, the Company issued a press release announcing the Exchange Agreement. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information included in this Item 7.01 of this Current Report on Form 8-K, including the attached Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The foregoing descriptions of the Exchange Agreement and does not purport to be complete, and is qualified in their entirety by reference to the full text of the Exchange Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K. The closing of the transaction contemplated by the Exchange Agreement is subject to the closing conditions specified in the Exchange Agreement. 3

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) exhibits Exhibit Description 10.1 Agreement between Spectral Capital Corporation and CrowdPoint Technologies, Inc. dated September 10, 2024 99.1 Press Release issued by Spectral Capital Corporation on September 11, 2024 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. Dated: September 17, 2024 SPECTRAL CAPITAL CORPORATION By: /s/Jenifer Osterwalder Name: Jenifer Osterwalder Title: Chief Executive Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR