M&A: SPECTRAL CAPITAL Corp
Form Type: 8-K
Filing Date: 2024-12-27
Corporate Action: Acquisition
Type: New
Accession Number: 000109690624002314
Comments: On December 26, 2024, SPECTRAL CAPITAL CORPORATION completed an acquisition of technology from Quantomo OÜ related to analytic tomography for enhancing data access across classical, hybrid, and quantum computing systems. This acquisition follows a prior Exchange Agreement dated September 10, 2024, where Spectral agreed to acquire 100% of the outstanding shares of Quantomo in exchange for 2,000,000 newly issued common shares and a one-time cash payment of €120,000 (or $135,000). In the definitive agreement, Spectral will issue 2,000,000 common shares and pay the specified cash for this intellectual property (IP), which is claimed to be free from any liens or encumbrances. However, the issuance of shares is pending board approval, which has a 30-day window for completion. Currently, after the acquisition, the total issued common shares will be 83,742,516 shares. The company's common stock is traded on the OTCQB under the ticker 'FCCN.'
Document Link: View Document
Additional details:
Item 1 Date: 2024-09-10
Item 1 Acquirer: SPECTRAL CAPITAL CORPORATION
Item 1 Seller: Quantomo OÜ
Item 1 Exchange Shares: 2,000,000
Item 1 Cash Payment: €120,000
Item 1 Ip Description: technology related to analytic tomography
Item 2 Completion Date: 2024-12-26
Item 2 Ip Acquired: Yes
Item 2 Board Approval: Pending
Item 2 Issued Shares Post Acquisition: 83,742,516
Item 2 Preferred Shares Authorized: 5,000,000
Item 2 Preferred Series: Series Quantum 1
Item 2 Preferred Shares Issued: 1,000,000