Note 3 - Discontinued Operations

6 Months Ended

Jun. 30, 2014

Notes

Note 3 - Discontinued Operations

NOTE 3 – DISCONTINUED OPERATIONS

In prior years, the Company had limited activity related to mineral, oil and gas properties.  All such activities and business in such properties were discontinued, sold/transferred either prior to or during the year ended December 31, 2012.  The transactions do not have an impact on the financial statements being presented as of June 30, 2014 and December 31, 2013 and for the six months ended June 30, 2014 and 2013. There were no material assets or liabilities associated with discontinued operations.

Shamrock Oil & Gas Ltd

On December 31, 2012, the Company entered into an agreement with Akoranga AG, a Company owned by the CEO of Spectral to transfer its ownership interests in the Shamrock Oil and Gas properties for $950,000, the value of Spectral’s contributions to the project to that date. In satisfaction of the purchase price, Akoranga agreed to offset liabilities of Spectral in the amount of $626,022.  The balance owing Spectral of $323,978 is non-interest bearing and was to be repaid within a one year period. During the prior year, the due date of the receivable under the agreement was extended to December 31, 2014.