Here are the 10-K annual reports from Spectral Capital Corp (FCCN) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow FCCN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FCCN filings page.
Spectral Capital Corporation filed an amended annual report to correct its prior conclusion on internal controls. Management now states that disclosure controls and procedures and internal control over financial reporting were not effective as of December 31, 2024 due to material weaknesses.
The company is repositioning as a deep quantum technology and “Quantum as a Service” platform, filing 104 patent applications in 2024 and developing more than 400 additional patentable inventions. Despite this activity, Spectral reported no revenue and a net loss of $3.27 million for 2024, with operating expenses rising sharply.
Cash was $107,475 at year-end against a working capital deficit and monthly operating costs of about $83,000, leading the auditor and management to highlight substantial doubt about the company’s ability to continue as a going concern. Management plans to fund operations through equity sales, related-party advances, and future licensing and software revenues.
Spectral Capital Corporation filed its annual report describing a major shift from a research-focused tech incubator into an operating telecommunications and data-infrastructure platform. In 2025 it acquired 42 Telecom and Telvantis, adding international messaging and voice services that generate recurring revenue.
The company reported net income of $918,355 for 2025, driven largely by a non-cash gain of $3,387,266 on contingent consideration, and excluding this recorded a loss from operations of approximately $2,468,911. Total assets increased to $150.7 million, reflecting consolidation of acquisitions, while cash was $2.1 million.
Despite new scale, Spectral faces a working capital deficit of $42.6 million, or $7.7 million excluding contingent consideration expected to be settled in equity, and an accumulated deficit of $33.4 million. Two customers accounted for about 35.7% and 33.0% of 2025 revenue, and two suppliers, including a related party, represented 36.0% and 39.1% of cost of revenue, creating concentration risk.