10-Q Filing

SPECTRAL CAPITAL CORP CIK: 1131903 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001096906-11-001805`
Period End Date	20110630
Filing Date	20110811
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	fccn-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 62 Cash Flow Statement 55 Stockholders Equity 29

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.45M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.10K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.66K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.10K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid consulting fees	`PrepaidExpenseCurrent`	$68.13K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid consulting fees	`PrepaidExpenseCurrent`	$8.94K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.06M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.46M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	101.21M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	101.21M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	101.21M	shares	Point-in-time
Office equipment	`FurnitureAndFixturesGross`	$2.87K	USD	Point-in-time
Office equipment	`FurnitureAndFixturesGross`	$2.87K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	101.21M	shares	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$239.00	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$717.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.63K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.15K	USD	Point-in-time
Mineral properties, net	`MineralPropertiesNet`	$1.31M	USD	Point-in-time
Mineral properties, net	`MineralPropertiesNet`	$16.86M	USD	Point-in-time
Total Assets	`Assets`	$3.38M	USD	Point-in-time
Total Assets	`Assets`	$18.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$107.62K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.10K	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartiesCurrent`	$21.27K	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartiesCurrent`	$16.47K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.19K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.50K	USD	Point-in-time
Total Liabilities	`Liabilities`	$136.08K	USD	Point-in-time
Total Liabilities	`Liabilities`	$57.06K	USD	Point-in-time
Common stock, par value $0.0001, 500,000,000 shares authorized, 101,207,623 shares issued and outstanding (47,623 2010)	`CommonStockValue`	$10.12K	USD	Point-in-time
Common stock, par value $0.0001, 500,000,000 shares authorized, 101,207,623 shares issued and outstanding (47,623 2010)	`CommonStockValue`	$10.12K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.18M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.18M	USD	Point-in-time
Common stock warrants	`WarrantsAndRightsOutstanding`	$4.11M	USD	Point-in-time
Common stock warrants	`WarrantsAndRightsOutstanding`	$19.66M	USD	Point-in-time
Deficit accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$7.59M	USD	Point-in-time
Deficit accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$7.07M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$4.37K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$3.24M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$18.01K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$18.26M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$10.32K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-58.99K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$18.32M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.38M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$287.00	USD	2 Qtrs
REVENUES	`Revenues`	$119.12K	USD	26 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$105.81K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$266.77K	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.82M	USD	26 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.64K	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.61K	USD	1 Quarter
Wages and benefits	`SalariesAndWages`	$2.19M	USD	26 Qtrs
Wages and benefits	`SalariesAndWages`	$76.58K	USD	1 Quarter
Wages and benefits	`SalariesAndWages`	$117.77K	USD	2 Qtrs
Legal fees	`LegalFees`	$440.44K	USD	26 Qtrs
Legal fees	`LegalFees`	$43.00K	USD	1 Quarter
Legal fees	`LegalFees`	$5.00K	USD	1 Quarter
Legal fees	`LegalFees`	$130.44K	USD	2 Qtrs
Legal fees	`LegalFees`	$11.24K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.97M	USD	26 Qtrs
Exploration costs	`ExplorationExpenseMining`	$35.76K	USD	26 Qtrs
Exploration costs	`ExplorationExpenseMining`	$10.71K	USD	2 Qtrs
Exploration costs	`ExplorationExpenseMining`	$3.26K	USD	1 Quarter
Beneficial conversion feature on warrant issue	`InducedConversionOfConvertibleDebtExpense`	$230.90K	USD	26 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$478.00	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$478.00	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.87K	USD	26 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$526.17K	USD	2 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$228.88K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$23.89K	USD	2 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$13.61K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$7.70M	USD	26 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-526.17K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-228.88K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-23.60K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-7.58M	USD	26 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-13.61K	USD	1 Quarter
OTHER INCOME (EXPENSE)	`OtherNonoperatingIncomeExpense`	$-2.50K	USD	2 Qtrs
OTHER INCOME (EXPENSE)	`OtherNonoperatingIncomeExpense`	$-10.65K	USD	26 Qtrs
OTHER INCOME (EXPENSE)	`OtherNonoperatingIncomeExpense`	$-1.25K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-26.10K	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-14.86K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.59M	USD	26 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-228.88K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-526.17K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-292.31K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-78.00K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-1.45M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-11.24K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-11.24K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-526.17K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-7.59M	USD	26 Qtrs
NET LOSS	`NetIncomeLoss`	$-526.17K	USD	2 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.32	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	26 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.56	USD	2 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	2 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	101.27M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	101.27M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	46,631.00	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC	`WeightedAverageNumberOfSharesOutstandingBasic`	46,631.00	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	46,631.00	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	101.27M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	46,631.00	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	101.27M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`NetIncomeLoss`	$-292.31K	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-78.00K	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-1.45M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-11.24K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-11.24K	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-526.17K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-7.59M	USD	26 Qtrs
Net loss for the period	`NetIncomeLoss`	$-526.17K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$478.00	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$478.00	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.87K	USD	26 Qtrs
Common stock issued for compensation	`ShareBasedCompensation`	$2.13M	USD	26 Qtrs
Common stock issued for services	`CommonStockIssuedForServices`	$47.00K	USD	26 Qtrs
Stock options issued for services	`StockOptionsIssuedForServices`	$1.23M	USD	26 Qtrs
Beneficial conversion feature on warrant issue	`InducedConversionOfConvertibleDebtExpense`	$230.90K	USD	26 Qtrs
Loss on disposal of property and equipment	`GainLossOnDispositionOfProperty`	$-5.88K	USD	26 Qtrs
Property and equipment traded for services	`PropertyAndEquipmentTradedForServices`	$24.80K	USD	26 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$8.94K	USD	26 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-59.19K	USD	2 Qtrs
Increase (decrease) in accounts payable & accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$9.80K	USD	2 Qtrs
Increase (decrease) in accounts payable & accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-79.02K	USD	2 Qtrs
Increase (decrease) in accounts payable & accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$62.56K	USD	26 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.44K	USD	2 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-545.52K	USD	2 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.85M	USD	26 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$54.20K	USD	26 Qtrs
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$494.00	USD	26 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-53.70K	USD	26 Qtrs
Cash received in recapitalization of the Company	`CashReceivedInRecapitalizationOfTheCompany`	$184.00	USD	26 Qtrs
Proceeds from note payable	`ProceedsFromNotesPayable`	$50.00K	USD	26 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.41M	USD	26 Qtrs
Offering costs from issuance of common stock	`PaymentsOfStockIssuanceCosts`	$4.00K	USD	26 Qtrs
Net advances	`NetAdvances`	$896.67K	USD	26 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.35M	USD	26 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-545.52K	USD	2 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.45M	USD	26 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.44K	USD	2 Qtrs
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.45M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$6.10K	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.66K	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$6.10K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.45M	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$6.10K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.66K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$6.10K	USD	Point-in-time
Interest paid	`InterestPaidNet`	$2.88K	USD	26 Qtrs
Non-monetary net liabilities assumed in a recapitalization of the Company on March 7, 2005	`NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1`	$101.96K	USD	26 Qtrs
Common stock issued for debt	`CommonStockIssuedForDebt`	$1.00K	USD	26 Qtrs
Stock warrants issued for acquisition of mineral properties	`StockWarrantsIssuedForAcquisitionOfMineralProperties`	$15.55M	USD	2 Qtrs
Stock warrants issued for acquisition of mineral properties	`StockWarrantsIssuedForAcquisitionOfMineralProperties`	$16.86M	USD	26 Qtrs
Issuance of common stock warrants	`ProceedsFromIssuanceOfWarrants`	$2.82M	USD	26 Qtrs

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$4.37K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$18.01K	USD	Point-in-time
Balance	`StockholdersEquity`	$18.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.32K	USD	Point-in-time
Balance	`StockholdersEquity`	$-58.99K	USD	Point-in-time
Correction of an accounting error	`CorrectionOfAnAccountingError`	$5.95K	USD	Annual
Conversion of debt to common stock	`ConversionOfDebtToCommonStock`	$1.00K	USD	Annual
Conversion of debt to common stock	`ConversionOfDebtToCommonStock`	$10.00K	USD	Annual
Issuance of common stock for cash	`IssuanceOfCommonStockForCash`	$50.00K	USD	Annual
Conversion of debt to common stock (2nd time)	`ConversionOfDebtToCommonStock2ndTime`	$56.18K	USD	Annual
Exercise of warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$150.00K	USD	Annual
Stock options issued as compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.17M	USD	Annual
Stock warrants issued for mineral properties	`StockWarrantsIssuedForMineralProperties`	$1.31M	USD	Annual
Issuance of common stock for cash (2nd time)	`IssuanceOfCommonStockForCash2ndTime`	$2.00M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-292.31K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-78.00K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-1.45M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-11.24K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-11.24K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-526.17K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-7.59M	USD	26 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-526.17K	USD	2 Qtrs
Balance	`StockholdersEquity`	$4.37K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$18.01K	USD	Point-in-time
Balance	`StockholdersEquity`	$18.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.32K	USD	Point-in-time
Balance	`StockholdersEquity`	$-58.99K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.