10-Q Filing

SPECTRAL CAPITAL CORP CIK: 1131903 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001096906-12-002830`
Period End Date	20120930
Filing Date	20121114
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	fccn-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 70 Cash Flow Statement 63

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
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`	$132.01K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$730.92K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid consulting	`PrepaidExpenseCurrent`	$20.41K	USD	Point-in-time
Prepaid consulting	`PrepaidExpenseCurrent`	$1.85K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$751.33K	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$133.87K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Office equipment	`FurnitureAndFixturesGross`	$2.87K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Office equipment	`FurnitureAndFixturesGross`	$2.87K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.20K	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.91K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.67K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$956.00	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	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
Reclamation deposit	`Deposits`	$27.81K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	101.21M	shares	Point-in-time
Oil and gas properties, net	`OilAndGasPropertyFullCostMethodNet`	$2.35M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	101.21M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	101.21M	shares	Point-in-time
Total Assets	`Assets`	$2.52M	USD	Point-in-time
Total Assets	`Assets`	$753.01K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.23M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrentAndNoncurrent`	$36.58K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrentAndNoncurrent`	$676.03K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$19.02K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$10.92K	USD	Point-in-time
Total Liabilities	`Liabilities`	$47.50K	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.93M	USD	Point-in-time
Preferred stock, par value $0.0001, 5,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.0001, 5,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.0001, 500,000,000 shares authorized, 101,207,623 shares issued and outstanding	`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	`CommonStockValue`	$10.12K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$6.62M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$10.63M	USD	Point-in-time
Common stock warrants	`WarrantsAndRightsOutstanding`	$3.20M	USD	Point-in-time
Common stock warrants	`WarrantsAndRightsOutstanding`	$674.36K	USD	Point-in-time
Deficit accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$11.41M	USD	Point-in-time
Deficit accumulated during the exploration stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$9.12M	USD	Point-in-time
Non-controlling interest	`NoncontrollingInterestInVariableInterestEntity`	$-315.14K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$705.50K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-412.31K	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$753.01K	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$2.52M	USD	Point-in-time

Income Statement 70 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$100.37K	USD	1 Quarter
REVENUES	`Revenues`	$127.86K	USD	3 Qtrs
REVENUES	`Revenues`	$246.98K	USD	31 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$152.46K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$156.65K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$419.23K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.73M	USD	31 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$48.60K	USD	1 Quarter
Wages and benefits	`SalariesAndWages`	$126.13K	USD	3 Qtrs
Wages and benefits	`SalariesAndWages`	$70.95K	USD	1 Quarter
Wages and benefits	`SalariesAndWages`	$2.43M	USD	31 Qtrs
Wages and benefits	`SalariesAndWages`	$37.57K	USD	1 Quarter
Wages and benefits	`SalariesAndWages`	$188.73K	USD	3 Qtrs
Legal fees	`LegalFees`	$8.95K	USD	1 Quarter
Legal fees	`LegalFees`	$83.00K	USD	1 Quarter
Legal fees	`LegalFees`	$77.25K	USD	3 Qtrs
Legal fees	`LegalFees`	$213.44K	USD	3 Qtrs
Legal fees	`LegalFees`	$651.62K	USD	31 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.97M	USD	31 Qtrs
Exploration costs	`ExplorationExpenseMining`	$99.50K	USD	1 Quarter
Exploration costs	`ExplorationExpenseMining`	$110.21K	USD	3 Qtrs
Exploration costs	`ExplorationExpenseMining`	$805.48K	USD	3 Qtrs
Exploration costs	`ExplorationExpenseMining`	$190.67K	USD	1 Quarter
Exploration costs	`ExplorationExpenseMining`	$940.74K	USD	31 Qtrs
Stock based compensation	`ShareBasedCompensation`	$1.26M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.49M	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$1.92M	USD	31 Qtrs
Beneficial conversion expense	`InducedConversionOfConvertibleDebtExpense`	$230.90K	USD	31 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$718.00	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$717.00	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$23.06K	USD	31 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$239.00	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$239.00	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$1.55M	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$11.89M	USD	31 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$406.16K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$2.65M	USD	3 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$932.33K	USD	3 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-932.33K	USD	3 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-11.64M	USD	31 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.45M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-406.16K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-2.53M	USD	3 Qtrs
Interest Expense	`InterestIncomeExpenseNonoperatingNet`	$-90.10K	USD	31 Qtrs
Interest Expense	`InterestIncomeExpenseNonoperatingNet`	$-79.44K	USD	3 Qtrs
Interest Expense	`InterestIncomeExpenseNonoperatingNet`	$-34.31K	USD	1 Quarter
LOSS FROM OPERATIONS BEFORE NON-CONTROLLING INTEREST	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.73M	USD	31 Qtrs
LOSS FROM OPERATIONS BEFORE NON-CONTROLLING INTEREST	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-932.33K	USD	3 Qtrs
LOSS FROM OPERATIONS BEFORE NON-CONTROLLING INTEREST	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.48M	USD	1 Quarter
LOSS FROM OPERATIONS BEFORE NON-CONTROLLING INTEREST	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-406.16K	USD	1 Quarter
LOSS FROM OPERATIONS BEFORE NON-CONTROLLING INTEREST	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.60M	USD	3 Qtrs
LESS: LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	`IncomeLossAttributableToNoncontrollingInterest`	$-51.64K	USD	1 Quarter
LESS: LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	`IncomeLossAttributableToNoncontrollingInterest`	$-315.14K	USD	31 Qtrs
LESS: LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	`IncomeLossAttributableToNoncontrollingInterest`	$-315.14K	USD	3 Qtrs
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-11.41M	USD	31 Qtrs
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.43M	USD	1 Quarter
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-2.29M	USD	3 Qtrs
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-406.16K	USD	1 Quarter
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-932.33K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-11.41M	USD	31 Qtrs
NET LOSS	`NetIncomeLoss`	$-406.16K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.29M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-932.33K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	101.27M	shares	3 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	101.27M	shares	3 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	101.21M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	101.21M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.73M	USD	31 Qtrs
Net loss for the period	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-932.33K	USD	3 Qtrs
Net loss for the period	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.48M	USD	1 Quarter
Net loss for the period	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-406.16K	USD	1 Quarter
Net loss for the period	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.60M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$718.00	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$717.00	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$23.06K	USD	31 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$239.00	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$239.00	USD	1 Quarter
Share-based services	`ShareBasedServices`	$5.72M	USD	31 Qtrs
Share-based services	`ShareBasedServices`	$1.49M	USD	3 Qtrs
Beneficial conversion feature on warrant issue	`InducedConversionOfConvertibleDebtExpense`	$230.90K	USD	31 Qtrs
Loss on disposal of property and equipment	`GainLossOnDispositionOfProperty`	$-5.88K	USD	31 Qtrs
Property and equipment traded for services	`PropertyAndEquipmentTradedForServices`	$24.80K	USD	31 Qtrs
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$29.66K	USD	31 Qtrs
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$9.25K	USD	3 Qtrs
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-65.15K	USD	3 Qtrs
Change in accounts payable & accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-75.80K	USD	3 Qtrs
Change in accounts payable & accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$107.08K	USD	3 Qtrs
Change in accounts payable & accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$123.50K	USD	31 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.63M	USD	31 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-942.26K	USD	3 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.02M	USD	3 Qtrs
Purchase of oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$-219.09K	USD	3 Qtrs
Purchase of oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$-219.09K	USD	31 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$54.20K	USD	31 Qtrs
Investment in mineral properties	`InvestmentInMineralProperties`	$494.00	USD	31 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-272.80K	USD	31 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-219.09K	USD	3 Qtrs
Proceeds from related party loans	`ProceedsFromRelatedPartyDebt`	$676.03K	USD	31 Qtrs
Proceeds from related party loans	`ProceedsFromRelatedPartyDebt`	$639.45K	USD	3 Qtrs
Cash received in recapitalization of the Company	`CashReceivedInRecapitalizationOfTheCompany`	$184.00	USD	31 Qtrs
Proceeds from note payable	`ProceedsFromNotesPayable`	$50.00K	USD	31 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.41M	USD	31 Qtrs
Offering costs from issuance of common stock	`PaymentsOfStockIssuanceCosts`	$4.00K	USD	31 Qtrs
Net advances	`NetAdvances`	$896.67K	USD	31 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.03M	USD	31 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$639.45K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$132.01K	USD	31 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-598.91K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-942.26K	USD	3 Qtrs
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$132.01K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$730.92K	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$132.01K	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$730.92K	USD	Point-in-time
Interest paid	`InterestPaidNet`	$2.88K	USD	31 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	31 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Non-monetary net liabilities assumed in recapitalization	`NonMonetaryNetLiabilitiesAssumedInRecapitalization`	$101.96K	USD	31 Qtrs
Properties acquired through assumption of debt	`PropertiesAcquiredThroughAssumptionOfDebt`	$2.13M	USD	3 Qtrs
Properties acquired through assumption of debt	`PropertiesAcquiredThroughAssumptionOfDebt`	$2.13M	USD	31 Qtrs
Common stock issued for debt	`CommonStockIssuedForDebt`	$1.00K	USD	31 Qtrs
Stock warrants issued for acquisition of mineral properties	`StockWarrantsIssuedForAcquisitionOfMineralProperties`	$16.86M	USD	31 Qtrs
Stock warrants rescinded and cancelled	`StockWarrantsRescindedAndCancelled`	$15.55M	USD	31 Qtrs
Stock warrants rescinded and cancelled	`StockWarrantsRescindedAndCancelled`	$15.55M	USD	3 Qtrs
Stock warrants rescinded and cancelled	`StockWarrantsRescindedAndCancelled2ndTime`	$1.31M	USD	31 Qtrs
Issuance of common stock warrants	`IssuanceOfCommonStockWarrants`	$2.82M	USD	31 Qtrs

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