10-K Filing

SYNTEC OPTICS HOLDINGS, INC. CIK: 1866816 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001493152-22-008787`
Period End Date	20211231
Filing Date	20220401
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 24 Income Statement 5 Cash Flow Statement 23 Stockholders Equity 9

Balance Sheet 24 line items

Line Item	Tag	Value	Unit	Period
Temporary equity possible redemption per share	`TemporaryEquityPossibleRedemptionPerShare`	$14.38M	USD	Point-in-time
Temporary Equity, Redemption Price Per Share	`TemporaryEquityRedemptionPricePerShare`	$10.20	USD	Point-in-time
Cash on hand	`CashAndCashEquivalentsAtCarryingValue`	$494.60K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$171.91K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$666.51K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Long-term prepaid expenses	`PrepaidExpenseNoncurrent`	$135.04K	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$146.63M	USD	Point-in-time
Total assets	`Assets`	$147.43M	USD	Point-in-time
Accounts payable and accrued offering costs	`AccountsPayableAndAccruedLiabilitiesCurrent`	$204.09K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$204.09K	USD	Point-in-time
Deferred underwriters discount	`DeferredUnderwritersDiscount`	$5.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.24M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A Common stock subject to possible redemption, 14,375,000 shares at redemption value of $10.20	`TemporaryEquityCarryingAmountAttributableToParent`	$146.62M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.43M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	-	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$147.43M	USD	Point-in-time

Income Statement 5 line items

Line Item	Tag	Value	Unit	Period
Formation and operating costs	`OperatingExpenses`	$171.17K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-171.17K	USD	2 Qtrs
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$1.68K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$1.68K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-169.49K	USD	2 Qtrs

Cash Flow Statement 23 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-169.49K	USD	2 Qtrs
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$1.68K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$306.94K	USD	2 Qtrs
Accounts payable and accrued offering costs	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$204.09K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-274.02K	USD	2 Qtrs
Investment of cash in Trust Account	`InvestmentOfCashInTrustAccount`	$-146.62M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-146.62M	USD	2 Qtrs
Proceeds from sale of Units, net of underwriters discount	`ProceedsFromSaleOfUnitsNetOfUnderwritersDiscount`	$140.88M	USD	2 Qtrs
Proceeds from issuance of private placement warrants	`ProceedsFromIssuanceOfPrivatePlacementWarrants`	$6.92M	USD	2 Qtrs
Proceeds from issuance of Class B common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	2 Qtrs
Proceeds from notes-payable related party	`ProceedsFromRelatedPartyDebt`	$300.00K	USD	2 Qtrs
Proceeds from advances from related party	`ProceedsFromAdvancesFromRelatedParty`	$364.00K	USD	2 Qtrs
Payment of offering costs	`PaymentOfOfferingCosts`	$-426.88K	USD	2 Qtrs
Payoff of amounts due to related party	`PayoffOfAmountsDueToRelatedParty`	$-664.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$147.39M	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$494.60K	USD	2 Qtrs
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$494.60K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$494.60K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Remeasurement of Shares Subject to Redemption	`RemeasurementOfSharesSubjectToRedemption`	$14.55M	USD	2 Qtrs
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$5.03M	USD	2 Qtrs
Offering costs included in accounts payable and accrued expenses	`OfferingCostsIncludedInAccountsPayableAndAccruedExpenses`	$66.44K	USD	2 Qtrs

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time
Class B common stock issued to initial shareholder	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	2 Qtrs
Proceeds from issuance of public warrants, net of offering costs	`ProceedsFromIssuanceOfPublicWarrantsNetOfOfferingCosts`	$3.36M	USD	2 Qtrs
Issuance of private placement warrants in connection with Initial Public Offering, net of offering costs	`IssuanceOfPrivatePlacementWarrantsInConnectionWithInitialPublicOfferingNetOfOfferingCosts`	$6.90M	USD	2 Qtrs
Remeasurement of shares subject to redemption	`StockRedeemedOrCalledDuringPeriodValue`	$-14.55M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-169.49K	USD	2 Qtrs
Balance	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.