10-Q Filing

SYNTEC OPTICS HOLDINGS, INC. CIK: 1866816 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-016532`
Period End Date	20230331
Filing Date	20230512
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 14 Cash Flow Statement 36 Stockholders Equity 11

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Temporary equity, possible redemption	`TemporaryEquityPossibleRedemption`	1.35M	shares	Point-in-time
Temporary equity, possible redemption	`TemporaryEquityPossibleRedemption`	1.35M	shares	Point-in-time
Temporary equity, price per share	`TemporaryEquityRedemptionPricePerShare`	$10.20	USD	Point-in-time
Temporary equity, price per share	`TemporaryEquityRedemptionPricePerShare`	$10.20	USD	Point-in-time
Cash on hand	`CashAndCashEquivalentsAtCarryingValue`	$117.51K	USD	Point-in-time
Cash on hand	`CashAndCashEquivalentsAtCarryingValue`	$7.07K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$134.43K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$95.54K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Income Tax Receivable	`IncomeTaxReceivable`	$8.77K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Income Tax Receivable	`IncomeTaxReceivable`	$8.77K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$111.38K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$260.70K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Long-term prepaid expenses	`LongtermPrepaidExpenses`	-	USD	Point-in-time
Long-term prepaid expenses	`LongtermPrepaidExpenses`	-	USD	Point-in-time
Marketable securities and cash held in Trust Account	`MarketableSecuritiesNoncurrent`	$14.15M	USD	Point-in-time
Marketable securities and cash held in Trust Account	`MarketableSecuritiesNoncurrent`	$14.01M	USD	Point-in-time
Total assets	`Assets`	$14.27M	USD	Point-in-time
Total assets	`Assets`	$14.26M	USD	Point-in-time
Aggregate redemption amount	`TemporaryEquityAggregateAmountOfRedemptionRequirement`	$1.00M	USD	Point-in-time
Aggregate redemption amount	`TemporaryEquityAggregateAmountOfRedemptionRequirement`	$13.03M	USD	Point-in-time
Accounts payable and accrued offering cost	`AccountsPayableCurrent`	$261.19K	USD	Point-in-time
Accounts payable and accrued offering cost	`AccountsPayableCurrent`	$117.07K	USD	Point-in-time
Franchise tax payable	`FranchiseTaxPayable`	$27.81K	USD	Point-in-time
Franchise tax payable	`FranchiseTaxPayable`	-	USD	Point-in-time
Income tax liability	`IncomeTaxLiability`	$27.43K	USD	Point-in-time
Income tax liability	`IncomeTaxLiability`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$117.07K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$316.43K	USD	Point-in-time
Deferred underwriters discount	`DeferredUnderwritersDiscount`	$500.00K	USD	Point-in-time
Deferred underwriters discount	`DeferredUnderwritersDiscount`	$500.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$617.07K	USD	Point-in-time
Total liabilities	`Liabilities`	$816.43K	USD	Point-in-time
Common stock subject to possible redemption, 1,348,049 shares at $10.20	`TemporaryEquityCarryingAmountAttributableToParent`	$13.92M	USD	Point-in-time
Common stock subject to possible redemption, 1,348,049 shares at $10.20	`TemporaryEquityCarryingAmountAttributableToParent`	$14.00M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock value	`CommonStockValue`	-	USD	Point-in-time
Common stock value	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-265.62K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-559.05K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.60M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-265.14K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-558.58K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$14.27M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$14.26M	USD	Point-in-time

Income Statement 14 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OperatingExpenses`	$321.25K	USD	1 Quarter
Operating costs	`OperatingExpenses`	$183.88K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-321.25K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-183.88K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentLossHeldInTrustAccount`	$11.97K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentLossHeldInTrustAccount`	$136.03K	USD	1 Quarter
Total loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.97K	USD	1 Quarter
Total loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.29M	USD	Annual
Total loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-185.22K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$445.79K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$27.43K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-212.65K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-171.92K	USD	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-212.65K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$11.97K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$136.03K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.81K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-38.88K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$171.94K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-65.16K	USD	1 Quarter
Income tax expense	`IncreaseDecreaseInIncomeTaxes`	$27.43K	USD	1 Quarter
Income tax expense	`IncreaseDecreaseInIncomeTaxes`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-110.43K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-250.85K	USD	1 Quarter
Investment of cash in Trust Account	`InvestmentOfCashInTrustAccount`	-	USD	1 Quarter
Investment of cash in Trust Account	`InvestmentOfCashInTrustAccount`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Payments of deferred offering costs associated with initial public offering	`PaymentsOfDeferredOfferingCostsAssociatedWithInitialPublicOffering`	-	USD	1 Quarter
Payments of deferred offering costs associated with initial public offering	`PaymentsOfDeferredOfferingCostsAssociatedWithInitialPublicOffering`	-	USD	1 Quarter
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$66.44K	USD	1 Quarter
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Funds Transfer from Trust Account to Cash for DE Tax Reimbursement	`FundsTranferFromTrust`	-	USD	1 Quarter
Funds Transfer from Trust Account to Cash for DE Tax Reimbursement	`FundsTranferFromTrust`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-66.44K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-110.43K	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-317.29K	USD	1 Quarter
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$494.60K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$117.51K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$177.31K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.07K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$494.60K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$117.51K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$177.31K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.07K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$5.03M	USD	1 Quarter
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$500.00K	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-4.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$-265.14K	USD	Point-in-time
Balance	`StockholdersEquity`	$-558.58K	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Net income loss	`NetIncomeLoss`	$-212.65K	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Accretion of common stock to redemption value	`StockRedeemedOrCalledDuringPeriodValue`	$-80.79K	USD	1 Quarter
Balance	`StockholdersEquity`	$-4.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$-265.14K	USD	Point-in-time
Balance	`StockholdersEquity`	$-558.58K	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.43M	USD	Point-in-time

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