SPECTRAL CAPITAL Corp (FCCN): auditor change — Spectral Capital dismisses auditor; financial statements for Q1-Q3 2024 require restatement due to accounting errors.

SPECTRAL CAPITAL Corp

Company dismissed MG&A as auditor and engaged RBSM effective April 30, 2025.
MG&A notified company of accounting errors in prepaid assets, amortization, debt extinguishment, and unaccounted expenses.
MG&A concluded errors materially impact Q1, Q2, Q3 2024 financial statements requiring restatement.
Prior auditor reports: FY2023 had going concern doubt; FY2024 had adverse opinion on accounting matter.
10-K for FY2024 filing is delayed; company further investigating accounting errors.

item 4.01 item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

SPECTRAL CAPITAL Corp reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

has concluded that that the Accounting Matter materially impacts the reliability of the financial statements for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and that such financial statements should be restated. Due to the dismissal of MG&A, the issue has not been resolved to MG&A’s satisfaction prior to its dismissal.

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

SPECTRAL CAPITAL Corp engaged RBSM LLP as its auditor.

Action: engagement
Auditor: RBSM LLP

Exact text from the filing

On April 30, 2025, the Company engaged RBSM LLP ("RBSM") as the Company's independent registered public accounting firm.

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

SPECTRAL CAPITAL Corp dismissed Michael Gillespie & Associates, PLLC as its auditor.

Action: dismissal
Auditor: Michael Gillespie & Associates, PLLC
Successor: RBSM LLP

Exact text from the filing

On April 30, 2025, Spectral Capital Corporation (the "Company") dismissed Michael Gillespie & Associates, PLLC ("MG&A") as the Company's independent registered public accounting firm.

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6 auditor changes filed in the last 30 days. Browse all auditor changes →

SPECTRAL CAPITAL Corp filing history →

Source: SEC EDGAR

accession 0001096906-25-000708

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