10-Q Filing

SPECTRAL CAPITAL CORP CIK: 1131903 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001096906-22-001138`
Period End Date	20220331
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	fccn-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 26 Cash Flow Statement 36 Stockholders Equity 14

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$413.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$359.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.55K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$264.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`AccountsReceivableNet`	-	USD	Point-in-time
Cash and cash equivalents	`AccountsReceivableNet`	$247.00K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$264.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$333.55K	USD	Point-in-time
Total assets	`Assets`	$333.55K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$264.00	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`	167.86M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	167.86M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	117.86M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.14K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	117.86M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$234.59K	USD	Point-in-time
Related party advances and accruals	`DueToRelatedPartiesCurrent`	$1.26M	USD	Point-in-time
Related party advances and accruals	`DueToRelatedPartiesCurrent`	$36.00K	USD	Point-in-time
Convertible notes payable - related party	`ConvertibleDebtCurrent`	-	USD	Point-in-time
Convertible notes payable - related party	`ConvertibleDebtCurrent`	$1.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.26M	USD	Point-in-time
Preferred shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares	`PreferredStockValue`	-	USD	Point-in-time
Common shares	`CommonStockValue`	$16.79K	USD	Point-in-time
Common shares	`CommonStockValue`	$11.79K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.83M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.79M	USD	Point-in-time
Intercompany	`Intercompany`	-	USD	Point-in-time
Intercompany	`Intercompany`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.83M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-976.91K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.04M	USD	Point-in-time
Noncontrolling interest in subsidiary	`MinorityInterest`	$-221.72K	USD	Point-in-time
Noncontrolling interest in subsidiary	`MinorityInterest`	$-221.74K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.26M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.20M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.09M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.13M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$333.55K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$264.00	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$453.34K	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Costs of sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Costs of sales	`CostOfGoodsAndServicesSold`	$354.88K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$98.46K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$48.56K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$4.61K	USD	1 Quarter
Wages and benefits	`SalariesAndWages`	$36.00K	USD	1 Quarter
Wages and benefits	`SalariesAndWages`	$36.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$40.61K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$84.56K	USD	1 Quarter
Net loss before non-controlling interest	`ProfitLoss`	$13.90K	USD	1 Quarter
Net loss before non-controlling interest	`ProfitLoss`	$-40.61K	USD	1 Quarter
Income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-14.00	USD	1 Quarter
Income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-18.00	USD	1 Quarter
Net loss attributable to Spectral Capital Corporation	`NetIncomeLoss`	$-40.60K	USD	1 Quarter
Net loss attributable to Spectral Capital Corporation	`NetIncomeLoss`	$13.92K	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted income (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted income (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average shares - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	151.97M	shares	1 Quarter
Weighted average shares - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	117.86M	shares	1 Quarter
Weighted average shares - diluted	`ProFormaWeightedAverageSharesOutstandingDiluted`	404.29M	shares	1 Quarter
Weighted average shares - diluted	`ProFormaWeightedAverageSharesOutstandingDiluted`	117.86M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss attributable to Spectral Capital Corporation	`NetIncomeLoss`	$-40.60K	USD	1 Quarter
Net loss attributable to Spectral Capital Corporation	`NetIncomeLoss`	$13.92K	USD	1 Quarter
Non-controlling interest	`IncreaseDecreaseInNonControllingInterest`	$-14.00	USD	1 Quarter
Non-controlling interest	`IncreaseDecreaseInNonControllingInterest`	$-18.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$247.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Due to related parties - accrued salary	`IncreaseDecreaseInDueToRelatedParties`	$36.00K	USD	1 Quarter
Due to related parties - accrued salary	`IncreaseDecreaseInDueToRelatedParties`	$36.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-628.00	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$233.46K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$36.36K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.24K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds from related party advances	`ProceedsFromRelatedPartyDebt`	$5.19K	USD	1 Quarter
Proceeds from related party advances	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$49.93K	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.19K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$49.93K	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$86.29K	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-54.00	USD	1 Quarter
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$413.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$359.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.55K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$264.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$413.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$359.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.55K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$264.00	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Exchange of related party advances and accruals for a convertible note payable	`ExchangeOfRelatedPartyAdvancesAndAccrualsForAConvertibleNotePayable`	$1.26M	USD	1 Quarter
Exchange of related party advances and accruals for a convertible note payable	`ExchangeOfRelatedPartyAdvancesAndAccrualsForAConvertibleNotePayable`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.26M	USD	Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.20M	USD	Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.09M	USD	Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.13M	USD	Point-in-time
Net loss attributable to Spectral Capital Corporation	`NetIncomeLoss`	$-40.60K	USD	1 Quarter
Net loss attributable to Spectral Capital Corporation	`NetIncomeLoss`	$13.92K	USD	1 Quarter
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.26M	USD	Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.20M	USD	Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.09M	USD	Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.13M	USD	Point-in-time
Non-controlling interest	`IncreaseDecreaseInNonControllingInterest`	$-14.00	USD	1 Quarter
Non-controlling interest	`IncreaseDecreaseInNonControllingInterest`	$-18.00	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$49.93K	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter

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