10-Q Filing

SYNTEC OPTICS HOLDINGS, INC. CIK: 1866816 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-028751`
Period End Date	20230630
Filing Date	20230815
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 28 Cash Flow Statement 44 Stockholders Equity 22

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Aggregate redemption shares value	`TemporaryEquityPossibleRedemption`	4.00M	shares	Point-in-time
Aggregate redemption shares value	`TemporaryEquityPossibleRedemption`	1.35M	shares	Point-in-time
Temporary Equity, Redemption Price Per Share	`TemporaryEquityRedemptionPricePerShare`	$10.20	USD	Point-in-time
Cash on hand	`CashAndCashEquivalentsAtCarryingValue`	$467.76K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash on hand	`CashAndCashEquivalentsAtCarryingValue`	$117.51K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$123.95K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$134.43K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$260.70K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$591.71K	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`	$14.27M	USD	Point-in-time
Marketable securities and cash held in Trust Account	`MarketableSecuritiesNoncurrent`	$14.01M	USD	Point-in-time
Total assets	`Assets`	$14.86M	USD	Point-in-time
Total assets	`Assets`	$14.27M	USD	Point-in-time
Accounts payable and accrued offering cost	`AccountsPayableCurrent`	$396.43K	USD	Point-in-time
Temporary equity shares redeemed	`TemporaryEquitySharesRedeemed`	13.03M	shares	Point-in-time
Accounts payable and accrued offering cost	`AccountsPayableCurrent`	$117.07K	USD	Point-in-time
Franchise tax	`FranchiseTaxCurrent`	-	USD	Point-in-time
Income tax liability	`TaxesPayableCurrent`	-	USD	Point-in-time
Income tax liability	`TaxesPayableCurrent`	$84.93K	USD	Point-in-time
Notes Payable	`NotesPayable`	$694.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$117.07K	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`	$1.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$617.07K	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption, 1,348,049 shares at $10.20 (1)()	`TemporaryEquityCarryingAmountAttributableToParent`	$13.92M	USD	Point-in-time
Common stock subject to possible redemption, 1,348,049 shares at $10.20 (1)()	`TemporaryEquityCarryingAmountAttributableToParent`	$14.17M	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
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`	$-986.08K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-985.60K	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`	$-4.54M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-558.58K	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$14.27M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$14.86M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OperatingExpenses`	$366.78K	USD	1 Quarter
Operating costs	`OperatingExpenses`	$688.03K	USD	2 Qtrs
Operating costs	`OperatingExpenses`	$321.16K	USD	2 Qtrs
Operating costs	`OperatingExpenses`	$137.28K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-688.03K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-321.16K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-366.78K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-137.28K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentLossHeldInTrustAccount`	$-220.20K	USD	2 Qtrs
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentLossHeldInTrustAccount`	$-166.64K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentLossHeldInTrustAccount`	$-208.23K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentLossHeldInTrustAccount`	$-302.67K	USD	2 Qtrs
Total income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-200.14K	USD	1 Quarter
Total income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-385.36K	USD	2 Qtrs
Total income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$70.95K	USD	1 Quarter
Total income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-100.96K	USD	2 Qtrs
Total income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.29M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$6.39K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$57.88K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$85.30K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$445.79K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$6.39K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-107.35K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-258.02K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-470.67K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-212.65K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$64.57K	USD	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-107.35K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-258.02K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-470.67K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-212.65K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$64.57K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$220.20K	USD	2 Qtrs
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$302.67K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-57.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-10.48K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-55.01K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$279.36K	USD	2 Qtrs
Income tax expense	`IncreaseDecreaseInIncomeTaxes`	$6.39K	USD	2 Qtrs
Income tax expense	`IncreaseDecreaseInIncomeTaxes`	$84.93K	USD	2 Qtrs
Income Tax Receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-8.77K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-319.18K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-389.81K	USD	2 Qtrs
Investment of cash in Trust Account	`InvestmentOfCashInTrustAccount`	-	USD	2 Qtrs
Investment of cash in Trust Account	`InvestmentOfCashInTrustAccount`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Payments of deferred offering costs associated with initial public offering	`PaymentsOfDeferredOfferingCostsAssociatedWithInitialPublicOffering`	-	USD	2 Qtrs
Payments of deferred offering costs associated with initial public offering	`PaymentsOfDeferredOfferingCostsAssociatedWithInitialPublicOffering`	-	USD	2 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	2 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	2 Qtrs
Funds Transfer from Trust Account to Cash for DE Tax Reimbursement	`FundsTranferFromTrust`	$45.12K	USD	2 Qtrs
Funds Transfer from Trust Account to Cash for DE Tax Reimbursement	`FundsTranferFromTrust`	$-66.44K	USD	2 Qtrs
Funds Transfer from Trust Account to Cash for DE Tax Reimbursement	`FundsTranferFromTrust`	$45.12K	USD	Point-in-time
Notes Payable	`ProceedsFromNotesPayable`	$174.16K	USD	2 Qtrs
Notes Payable	`ProceedsFromNotesPayable`	$694.94K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$740.06K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$107.73K	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$350.25K	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-211.45K	USD	2 Qtrs
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$117.51K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$494.60K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$283.15K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$467.76K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$117.51K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$494.60K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$283.15K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$467.76K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayableNoncash`	$5.03M	USD	2 Qtrs
Deferred underwriting fee payable	`DeferredUnderwritingFeePayableNoncash`	$500.00K	USD	2 Qtrs

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Conversion of stock, shares converted	`ConversionOfStockSharesConverted1`	1.00M	shares	Point-in-time
Conversion of stock, shares converted	`ConversionOfStockSharesConverted1`	3.00M	shares	Point-in-time
Balance, value	`StockholdersEquity`	$-985.60K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-4.60M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-265.14K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-4.54M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-558.58K	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-107.35K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-258.02K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-470.67K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-212.65K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$64.57K	USD	1 Quarter
Accretion of common stock to redemption value	`StockRedeemedOrCalledDuringPeriodValue`	$-80.79K	USD	1 Quarter
Accretion of common stock to redemption value	`StockRedeemedOrCalledDuringPeriodValue`	$-169.00K	USD	1 Quarter
Balance, value	`StockholdersEquity`	$-985.60K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-4.60M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-265.14K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-4.54M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-558.58K	USD	Point-in-time

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