M&A
confidence high
sentiment neutral
materiality 0.75
Spectral Capital acquires Node Nexus, issues convertible preferred; change of control
SPECTRAL CAPITAL Corp
- Completed acquisition of 100% of Node Nexus Network Co LLC; issued 1M Series Quantum Preferred shares (convertible to 40 common each after 12 months).
- Target shareholder Sean Brehm bought 5,050,000 common shares at $0.20/share ($1,010,000); cash on hand $491,657 as of Aug 25, 2024.
- Post-closing: 67,699,516 common shares outstanding; 1,000,000 Series Quantum Preferred shares outstanding.
- Revenue $0 for H1 2024; operating loss $143,093; Node Nexus had $0 revenue and $0 operating loss.
- Business plans focus on quantum computing cloud services (Vogon Cloud, QuantumVM); no current revenue; dependent on future financing.