10-Q Filing

SYNTEC OPTICS HOLDINGS, INC. CIK: 1866816 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-038877`
Period End Date	20230930
Filing Date	20231031
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 28 Cash Flow Statement 44 Stockholders Equity 30

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Aggregate redemption shares value	`TemporaryEquityPossibleRedemption`	1.35M	shares	Point-in-time
Aggregate redemption shares value	`TemporaryEquityPossibleRedemption`	1.35M	shares	Point-in-time
Aggregate redemption shares value	`TemporaryEquityPossibleRedemption`	4.00M	shares	Point-in-time
Temporary equity, price per share	`TemporaryEquityRedemptionPricePerShare`	$10.60	USD	Point-in-time
Temporary equity, price per share	`TemporaryEquityRedemptionPricePerShare`	$10.32	USD	Point-in-time
Cash on hand	`CashAndCashEquivalentsAtCarryingValue`	$325.10K	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
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$134.43K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$38.13K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Income Tax Receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Income Tax Receivable	`IncomeTaxesReceivable`	$8.77K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	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`	$363.23K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Marketable securities and cash held in Trust Account	`MarketableSecuritiesNoncurrent`	$14.45M	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`	$14.82M	USD	Point-in-time
Accounts payable and accrued offering cost	`AccountsPayableCurrent`	$370.43K	USD	Point-in-time
Accounts payable and accrued offering cost	`AccountsPayableCurrent`	$117.07K	USD	Point-in-time
Income tax liability	`TaxesPayableCurrent`	-	USD	Point-in-time
Temporary equity shares redeemed	`TemporaryEquitySharesRedeemed`	13.03M	shares	Point-in-time
Income tax liability	`TaxesPayableCurrent`	$79.47K	USD	Point-in-time
Notes Payable	`NotesPayableCurrent`	-	USD	Point-in-time
Notes Payable	`NotesPayableCurrent`	$694.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.14M	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`	$617.07K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.64M	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 $10.60 and $10.32, respectively as of September 30, 2023 and December 31, 2022, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$13.92M	USD	Point-in-time
Common stock subject to possible redemption, 1,348,049 shares at $10.60 and $10.32, respectively as of September 30, 2023 and December 31, 2022, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$14.29M	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`	$-1.12M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.56M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-558.58K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-985.60K	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`	$-1.11M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.60M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$14.82M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$14.27M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OperatingExpenses`	$498.09K	USD	3 Qtrs
Operating costs	`OperatingExpenses`	$157.36K	USD	1 Quarter
Operating costs	`OperatingExpenses`	$845.39K	USD	3 Qtrs
Operating costs	`OperatingExpenses`	$176.93K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-845.39K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-498.09K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-157.36K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-176.93K	USD	1 Quarter
Interest earned on investment held in Trust Account	`GainLossOnInvestments`	$662.21K	USD	1 Quarter
Interest earned on investment held in Trust Account	`GainLossOnInvestments`	$487.60K	USD	3 Qtrs
Interest earned on investment held in Trust Account	`GainLossOnInvestments`	$184.93K	USD	1 Quarter
Interest earned on investment held in Trust Account	`GainLossOnInvestments`	$882.41K	USD	3 Qtrs
Total income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$485.28K	USD	1 Quarter
Total income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$384.31K	USD	3 Qtrs
Total income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-357.80K	USD	3 Qtrs
Total income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$27.56K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$154.77K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$39.66K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$148.39K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$124.97K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-212.65K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$336.89K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$229.54K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-258.02K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$64.57K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-12.10K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-482.77K	USD	3 Qtrs

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-212.65K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$336.89K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$229.54K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-258.02K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$64.57K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-12.10K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-482.77K	USD	3 Qtrs
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$487.60K	USD	3 Qtrs
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$882.41K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-115.97K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-96.30K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-54.96K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$253.36K	USD	3 Qtrs
Income tax expense	`IncreaseDecreaseInIncomeTaxes`	$79.47K	USD	3 Qtrs
Income tax expense	`IncreaseDecreaseInIncomeTaxes`	$154.77K	USD	3 Qtrs
Income Tax Receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-8.77K	USD	3 Qtrs
Income Tax Receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-437.08K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-532.47K	USD	3 Qtrs
Investment of cash in Trust Account	`InvestmentOfCashInTrustAccount`	-	USD	3 Qtrs
Investment of cash in Trust Account	`InvestmentOfCashInTrustAccount`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Payment of offering costs	`PaymentsOfDebtIssuanceCosts`	$66.44K	USD	3 Qtrs
Funds Transfer from Trust Account to Cash for DE Tax and Income Tax Reimbursement	`FundsTransferFromTrustAccountToCashForDeTaxReimbursement`	$-45.12K	USD	3 Qtrs
Notes Payable	`ProceedsFromNotesPayable`	$198.93K	USD	3 Qtrs
Notes Payable	`ProceedsFromNotesPayable`	$694.94K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$740.06K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$132.50K	USD	3 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-304.59K	USD	3 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$207.59K	USD	3 Qtrs
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`	$190.01K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$325.10K	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`	$190.01K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$325.10K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayableNoncash`	$5.03M	USD	3 Qtrs
Deferred underwriting fee payable	`DeferredUnderwritingFeePayableNoncash`	$500.00K	USD	3 Qtrs
Accretion of common stock to redemption value	`AccretionOfCommonStockToRedemptionValue`	$116.83K	USD	3 Qtrs
Accretion of common stock to redemption value	`AccretionOfCommonStockToRedemptionValue`	$356.44K	USD	3 Qtrs

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Conversion of stock, shares converted	`ConversionOfStockSharesConverted1`	3.00M	shares	Point-in-time
Conversion of stock, shares converted	`ConversionOfStockSharesConverted1`	1.00M	shares	Point-in-time
Balance	`StockholdersEquity`	$-4.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$-558.58K	USD	Point-in-time
Balance	`StockholdersEquity`	$-985.60K	USD	Point-in-time
Balance	`StockholdersEquity`	$-265.14K	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.11M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.60M	USD	Point-in-time
Net income loss	`NetIncomeLoss`	$-212.65K	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$336.89K	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$229.54K	USD	3 Qtrs
Net income loss	`NetIncomeLoss`	$-258.02K	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$64.57K	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$-12.10K	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$-482.77K	USD	3 Qtrs
Accretion of common stock to redemption value	`StockIssuedDuringPeriodValueAccretionOfCommonStockToRedemptionValue`	$80.79K	USD	1 Quarter
Accretion of common stock to redemption value	`StockIssuedDuringPeriodValueAccretionOfCommonStockToRedemptionValue`	$116.83K	USD	1 Quarter
Accretion of common stock to redemption value	`StockIssuedDuringPeriodValueAccretionOfCommonStockToRedemptionValue`	$169.00K	USD	1 Quarter
Accretion of common stock to redemption value	`StockRedeemedOrCalledDuringPeriodValue`	$-356.44K	USD	1 Quarter
Balance	`StockholdersEquity`	$-4.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$-558.58K	USD	Point-in-time
Balance	`StockholdersEquity`	$-985.60K	USD	Point-in-time
Balance	`StockholdersEquity`	$-265.14K	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.11M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.60M	USD	Point-in-time

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