---
schema_version: "secwatch.filing_event.v1"
accession: "0001096906-25-000885"
form_type: "8-K/A"
ticker: "FCCN"
cik: "0001131903"
company_name: "SPECTRAL CAPITAL Corp"
filed_at: "2025-05-23T23:59:59+00:00"
generated_at: "2026-05-20T13:11:36.980498+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Spectral Capital restates FY2022-2023 and Q1-Q3 2024; auditor dismissed

## Summary
- April 30, 2025: dismissed MG&A as auditor, engaged RBSM immediately.
- May 6, 2025: Board concluded FY2022, FY2023, and interim 2023/2024 statements unreliable.
- Errors in consolidation of entities acquired from Sean Michael Brehm; records unauditable.
- MG&A cited errors in prepaid assets, amortization, debt extinguishment gains, and unaccounted expenses.
- Company will restate financials, rescind unauditable subsidiary transactions; FY2024 10-K delayed.

## SEC filing metadata
- accession: 0001096906-25-000885
- form_type: 8-K/A
- ticker: FCCN
- cik: 0001131903
- company_name: SPECTRAL CAPITAL Corp
- filed_at: 2025-05-23T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 4.02, 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1131903/000109690625000885/0001096906-25-000885-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1131903/000109690625000885/fccn-20250430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001096906-25-000885
- JSON: https://secwatch.observer/filing/0001096906-25-000885.json
- Plain text: https://secwatch.observer/filing/0001096906-25-000885.txt

## Key facts
- Auditor Changes
  SPECTRAL CAPITAL Corp dismissed Michael Gillespie & Associates, PLLC as its auditor.
  - Action: dismissal
  - Auditor: Michael Gillespie & Associates, PLLC
  - Successor: RBSM LLP
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1131903/000109690625000885/0001096906-25-000885-index.htm
- Auditor Changes
  SPECTRAL CAPITAL Corp engaged RBSM LLP as its auditor.
  - Action: engagement
  - Auditor: RBSM LLP
  source text: On April 30, 2025, the Company engaged RBSM LLP ("RBSM") as the Company's independent registered public accounting firm.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1131903/000109690625000885/0001096906-25-000885-index.htm
- Auditor Changes
  SPECTRAL CAPITAL Corp reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On May 6, 2025, the Board of Directors of Spectral Capital Corporation (the "Company"), which is acting in the absence of an audit committee, after discussion with the Company's independent registered public accounting firm, MG&A, concluded that the Company's previously issued financial statements for the fiscal years ended December 31, 2023 and 2022, and for the interim periods within the fiscal years 2023 and 2024 (collectively, the "Affected Periods"), should no longer be relied upon due to errors in the application of accounting principles related to the Company's acquisition and consolidation of certain subsidiaries
  evidence_url: https://www.sec.gov/Archives/edgar/data/1131903/000109690625000885/0001096906-25-000885-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.