Syntec Optics Holdings Files 2023 10-K

TL;DR

Syntec Optics Holdings filed its 2023 10-K, detailing its optical business operations.

AI Summary

Syntec Optics Holdings, Inc. filed its 2023 10-K on May 23, 2024, reporting on its fiscal year ending December 31, 2023. The company, formerly OmniLit Acquisition Corp., is incorporated in Delaware and operates in the optical instruments and lenses sector. Its principal executive offices are located in Miami Beach, Florida.

Why It Matters

This filing provides a comprehensive overview of Syntec Optics Holdings' financial performance and business operations for the fiscal year 2023, crucial for investors assessing the company's current standing and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high risk.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for the 10-K)
• 2024-05-23 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• SYNTEC OPTICS HOLDINGS, INC. (company) — Filer
• OmniLit Acquisition Corp. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 20240523 (date) — Filing date
• Miami Beach, FL (location) — Business address

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share OPTX The Nasdaq Capital M
• $11.50 — or common stock at an exercise price of $11.50 per share, subject to adjustment OPTX
• $5.03 — 31, 2023, based on the closing price of $5.03 for shares of the registrant's common s
• $26.3 — oduct ("GDP") annually, or an estimated $26.3 trillion, and optics and photonics comp
• $7 — nd services, is estimated to be between $7 trillion and $10 trillion annually, and
• $10 — estimated to be between $7 trillion and $10 trillion annually, and represents rough
• $2 — bled products and services had exceeded $2 trillion in 2019. Photonics touches mos
• $2.02 — tonics-enabled products and services at $2.02 trillion – an increase of 34% over the
• $29.4 million — nded December 31, 2023 and 2022, we had $29.4 million and $27.8 million in sales, respectivel
• $27.8 million — 2023 and 2022, we had $29.4 million and $27.8 million in sales, respectively. Over time, we h

Filing Documents

• form10-k.htm (10-K) — 1355KB
• ex24.htm (EX-24) — 18KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 16KB
• ex32.htm (EX-32) — 10KB
• ex97-1.htm (EX-97.1) — 29KB
• form10-k_002.jpg (GRAPHIC) — 24KB
• form10-k_003.jpg (GRAPHIC) — 26KB
• form10-k_004.jpg (GRAPHIC) — 18KB
• image_002.jpg (GRAPHIC) — 169KB
• 0001493152-24-021130.txt ( ) — 6905KB
• olit-20231231.xsd (EX-101.SCH) — 59KB
• olit-20231231_cal.xml (EX-101.CAL) — 78KB
• olit-20231231_def.xml (EX-101.DEF) — 194KB
• olit-20231231_lab.xml (EX-101.LAB) — 376KB
• olit-20231231_pre.xml (EX-101.PRE) — 292KB
• form10-k_htm.xml (XML) — 839KB

Cybersecurity

Item 1C. Cybersecurity 29 Item 2. Properties 29 Item 3. Legal Proceedings 30 Item 4. Mine Safety Disclosures 30 Part II 30 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6. [Reserved] 30 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A. Quantitative and Qualitative Disclosures about Market Risk 40 Item 8. Financial Statements and Supplementary Data 40 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 40 Item 9A. Controls and Procedures 40 Item 9B. Other Information 40 Item 9C. Disclosure Regarding Foreign Jurisdiction that Prevent Inspections 40 Part III 41 Item 10. Directors, Executive Officers and Corporate Governance 41 Item 11. Executive Compensation 41 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 41 Item 13. Certain Relationships and Related Transactions, and Director Independence 41 Item 14. Principal Accountant Fees and Services 41 Part IV 41 Item 15. Exhibit and Financial Statement Schedules 41 Item 16. Form 10-K Summary 42

SIGNATURES

SIGNATURES 43 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 under Section 27A of the Securities Act of 1933, as amended (the " Securities Act "), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking identify these forward-looking statements through our use of words such as "may," "can," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "seek," "estimate," "continue," "plan," "point to," "project," "predict," "could," "intend," "target," "potential" and other similar words and expressions of the future. There are a number of important factors that could cause the actual results to differ materially from those expressed in any forward-looking our ability to recognize the anticipated benefits of our recent Business Combination (as defined herein), which may be affected by, among other things, the factors listed below; our ability to successfully increase market penetration into target markets; the failure of the addressable markets that we intend to target to grow as expected; the loss of any members of our senior management team or other key personnel;

View Full Filing

View this 10-K filing on SEC EDGAR