secwatch.observer — SEC 8-K summary
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Issuer:     SPECTRAL CAPITAL Corp (FCCN)
CIK:        0001131903
Form:       8-K
Filed at:   2024-06-07T23:59:59+00:00
Accession:  0001096906-24-001323
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spectral Capital acquires Node Nexus Network in reverse merger; issues 40M shares for 100% of target
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- Spectral to issue 40M common shares (38.94% of post-deal total) for Node Nexus Network, a Dubai-based decentralized cloud/AI firm.
- Target shareholder Sean Brehm also invests $1M at $0.20/share via separate subscription, obtaining 5M additional shares.
- Post-closing, Brehm will hold 45M shares (~41.78%); he was recently appointed director and chairman of Spectral.
- Target has minimal liabilities ($5K) and IP in distributed quantum ledger DB, decentralized cloud, and AI technologies.
- Closing expected by July 31, 2024, subject to conditions including PCAOB-audited financials and IP assignment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1131903/000109690624001323/0001096906-24-001323-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1131903/000109690624001323/fccn-20240607.htm
  HTML page:      https://secwatch.observer/filing/0001096906-24-001323

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