secwatch.observer — SEC 8-K summary
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Issuer:     SPECTRAL CAPITAL Corp (FCCN)
CIK:        0001131903
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0001096906-25-000708
Event type: other_material
Sentiment:  negative
Materiality: 0.95
Item codes: 4.01, 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spectral Capital dismisses auditor; financial statements for Q1-Q3 2024 require restatement due to accounting errors.
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1131903/000109690625000708/0001096906-25-000708-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1131903/000109690625000708/fccn-20250430.htm
  HTML page:      https://secwatch.observer/filing/0001096906-25-000708

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