6 unchanged sentences
Investors are cautioned, however, that these policies are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially.
−Removed: Set forth below are the accounting policies that we believe most critical to an understanding of our financial condition, results of operations and liquidity.
+Added: Set forth below are the accounting policies that we believe are most critical to an understanding of our financial condition, results of operations and liquidity.
Principles of Consolidation
5 unchanged sentences
Actual results could differ from those estimates.
−Removed: Spectral Capital Corporation (“Spectral” or the “Company”, also “We” or “Us”) is a technology company focused on the identification, acquisition, development, financing of technology that has the potential to transform existing industries.
+Added: Spectral Capital Corporation (“Spectral” or the “Company”, also “We” or “Us”) is a technology company focused on the identification, acquisition, development, and financing of technology that has the potential to transform existing industries.
We have interests in telecommunications, data and switching services, specifically providing international long distance reselling services on a business-to-business (“B2B”) basis.
−Removed: We seek partnerships to expand our business as well as seek technological advancement opportunities that may provide us with a substantial advantage over our competition.
−Removed: Additionally, Spectral has majority ownership of two non-operating technology companies:
−Removed: Noot and Monitr.
−Removed: We believe the underlying technology for both Noot and Monitr has the potential to create profitable businesses on their own but require substantial capital to upgrade their software to become competitive.
−Removed: Spectral currently does not have the financial means for these required upgrades.
+Added: We intend to resume this line of our business and seek partnerships to expand our network as well as seek technological advancement opportunities that may provide us with a substantial advantage over our competition.
+Added: Additionally, we have majority ownership of two non-operating technology companies:
+Added: Noot Holdings, Inc.
+Added: (“Noot”) and Monitr Holdings, Inc.
+Added: We believe the underlying technologies for both Noot and Monitr have the potential to create profitable businesses on their own but require substantial capital to upgrade their software to become competitive.
+Added: We currently do not have the financial means for these required upgrades and are actively seeking optimal partners for these assets in order to develop these services to their full potential.
PLAN OF OPERATIONS
−Removed: Spectral Capital is a technology startup accelerator that invests in early stage companies.
−Removed: Spectral targets industry verticals and solutions where disruption and network effects allow for rapid adoption and displacement of incumbents.
+Added: We are a technology startup accelerator that invests in early-stage companies.
+Added: We target industry verticals and solutions where disruption and network effects allow for rapid adoption and displacement of incumbents.
We work with startups, focusing them on rapid development, getting to market, and refining their products and services with innovative features that reflect direct customer and market feedback.
−Removed: In addition to meeting some of the financing needs of our portfolio companies, we provide our teams with executive support at the technology, marketing and operations level in effort to bring optimal results.
−Removed: Our technology portfolio consists of two companies where Spectral is the majority owner:
+Added: In addition to meeting some of the financing needs of our portfolio companies, we provide our teams with executive support at the technology, marketing and operations level in an effort to bring optimal results.
+Added: Additionally, We have interests in wholesale telecommunications, data and switching services consisting of international long distance reselling services on a business-to-business (“B2B”) basis.
+Added: Our technology portfolio consists of two companies, of which we are the majority owner:
Noot and Monitr.
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The mobile search sector has much room to grow.
−Removed: Currently Spectral is unable to provide the necessary funds for this upgrade.
+Added: Currently, we are unable to provide the necessary funds for this upgrade;
+Added: however, we are actively seeking optimal partners for this endeavor.
Monitr, launched in late 2014, is a technology and financial data services company that identifies for investors stocks that its software detects to be trending up in price at the moment.
1 unchanged sentence
Thousands of companies, news stories, blogs and opinion pieces are analyzed daily to uncover the trends and displayed in an accessible and easy-to-use web-based interface for investors and traders.
−Removed: · Many investors use only a few sources to become informed of market conditions, Monitr provides investors with access to thousands of sources.
+Added: · Many investors use only a few sources to become informed of market conditions.
+Added: Monitr provides investors with access to thousands of sources.
Monitr specializes in the analysis of news and opinion to determine the aggregate sentiment and trends of equities across markets in part to detect trends and provide relevant data for its users.
−Removed: With the growth of Fintech, Monitr has a growing list of competitors, however, we believe that Monitr´s trend detecting software could perform well relative to the competition.
−Removed: However, Monitr will require substantial additional investment into its software to become competitive in the growing marketplace.
−Removed: Currently Spectral is unable to provide the necessary funds for this upgrade.
−Removed: Additionally, we have recently entered the telecommunications, data and switching services market, specifically providing international long distance reselling services on a B2B basis.
−Removed: We form partnerships to expand our business as well as seek technological advancement opportunities that may provide us with a substantial advantage over our competition.
−Removed: Over the course of the next 12 months, Spectral intends to increase capital so that we may advance our telecommunication reselling business, foster the development of Noot and Monitr as well as expand our portfolio, given adequate capital.
+Added: Although Monitr is no longer a working application, with the growth of Fintech, Monitr has a growing list of competitors.
+Added: However, we believe that Monitr´s trend-detecting software could perform well relative to the competition but will require substantial additional investment to become competitive in the growing marketplace.
+Added: Currently, we are unable to provide the necessary funds for this upgrade;
+Added: however, we are actively seeking optimal partners for this endeavor.
+Added: Additionally, we intend to resume our telecommunications reselling services through our partnership with Sky Data PLL OU (Estonia) (“SKY”), specifically providing international long distance reselling services on a B2B basis.
+Added: We are working to form partnerships in order to expand our business as well as seek technological advancement opportunities that may provide us with an advantage over our competition.
+Added: Over the course of the next 12 months, we intend to:
+Added: Resume the telecommunication re-selling services operations along with our partner, SKY;
+Added: Form partnerships with data providers to expand traffic;
+Added: Identify optimal partnerships to develop Noot and/or Monitr;
+Added: Increase capital through private placement or other equity sale opportunities.
RESULTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022
Revenues and Cost of Revenues
−Removed: We are currently engaged in a technology development business and recently commenced operations within the telecom industry.
−Removed: Net, revenues increased from $0 for the year ended December 31, 2021 to $98,323 for the year ended December 31, 2022.
−Removed: The increase is due commencing our new business venture in the telecom industry.
−Removed: The Company temporarily paused its current operations during increase is due to launching of our new business venture.
+Added: We are currently engaged in a technology development business and intend to resume operations within the telecom industry.
+Added: Net revenues decreased from $98,323 for the year ended December 31, 2022 to $0 for the year ended December 31, 2023.
+Added: The decrease is due to us temporarily pausing our telecom related operations during 2023.
Operating Expenses
−Removed: Operating expenses increased $167,153, from $172,230 for the year ended December 31, 2021 to $339,383 for the year ended December 31, 2022.
−Removed: The significant increase was due to the expansion of our operations due to our new line of business.
+Added: Operating expenses decreased $123,906, from $339,383 for the year ended December 31, 2022 to $215,477 for the year ended December 31, 2023.
+Added: The decrease was due to our pause in the telecom reselling services business.
LIQUIDITY AND CAPITAL RESOURCES
As of December 31, 2023, we had $240 of cash on hand.
−Removed: We intend to fund operations through the use of cash on hand and through additional advances from our chief executive officer and through debt and equity financings until sufficient cash flows from operations can be achieved.
+Added: We intend to fund operations through the use of cash on hand, additional advances from our chief executive officer, and debt and equity financings until sufficient cash flows from operations can be achieved.
Net cash used in operating activities increased $2,510, from $45,022 for the year ended December 31, 2022 to $47,532 for the year ended December 31, 2023.
−Removed: This continued low amount of costs was primarily related to the Company having limited operations, due to the cash flow limitations.
−Removed: Net cash provided by (used in) financing activities increased by $27,079 from $28,351 for the year ended December 31, 2021 to $55,530 for the year ended December 31, 2022.
+Added: This continued low amount of costs was primarily related to our limited operations due to the cash flow limitations.
+Added: Net cash provided by financing activities decreased by $18,330 from $55,530 for the year ended December 31, 2022 to $37,100 for the year ended December 31, 2023.
Net cash provided by financing activities during the year ended December 31, 2022 primarily related to sales of common stock.
1 unchanged sentence
Additional funding will be necessary in order to expand portfolio operations and to reach our goals.
−Removed: Currently, the Company does not have any commitments or assurances for additional capital nor can the Company provide assurance that such financing will be available to it on favorable terms, or at all.
−Removed: If, after utilizing the existing sources of capital available to the Company, further capital needs are identified and the Company is not successful in obtaining the financing, it may be forced to curtail its existing or planned future operations.
−Removed: In addition, if necessary, we will decrease expenses and redirect our efforts towards a sale of one of more of our assets should funding become inadequate.
+Added: Currently, we do not have any commitments or assurances for additional capital, nor can we provide assurance that such financing will be available to it on favorable terms, or at all.
+Added: If, after utilizing the existing sources of capital available to us, further capital needs are identified and we are not successful in obtaining the financing, we may be forced to curtail our existing or planned future operations.
+Added: In addition, if necessary, we will decrease expenses and redirect our efforts toward the sale of one or more of our assets should funding become inadequate.
+Added: Quantitative and Qualitative Disclosures About Market Risk
+Added: As a “Smaller Reporting Company”, this Item and the related disclosure are not required.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.