Syntec Optics Holdings SEC Filings

Syntec Optics Holdings, Inc. regained Nasdaq compliance with the exchange’s periodic filing requirement. Nasdaq had notified the company on April 16, May 28, and August 29, 2025, that it was not meeting this requirement. After Syntec Optics filed its Form 10-K and Form 10-Qs on October 6, 2025, Nasdaq staff determined the company is back in compliance and stated the matter is closed.

Syntec Optics Holdings (OPTX) reported a change in its independent auditor. On October 10, 2025, Marcum LLP resigned, and the Audit Committee approved the engagement of CBIZ CPAs P.C. as the new independent registered public accounting firm.

Marcum’s audit reports for the fiscal years ended December 31, 2024 and December 31, 2023 did not contain adverse opinions or disclaimers, and the company states there were no disagreements with Marcum on accounting principles, disclosure, or audit scope through October 10, 2025. The filing reiterates previously disclosed material weaknesses from the 2024 Form 10‑K, including gaps in formal controls documentation and review, segregation of duties, timely reconciliations, revenue classification, related‑party disclosures, fair value methodology for a contingent earnout, IT general controls (user access and change management), SOC‑1 review, cybersecurity controls, lease accounting under ASC 842, and stock‑based compensation identification and accounting. Marcum provided a concurrence letter as Exhibit 16.1.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) Form 4 shows Director Brent D. Rosenthal is the beneficial owner of 77,320 Restricted Stock Units (RSUs) that represent the right to receive one Class A common share per unit at a strike/issue price of $1.94. The RSUs are reported as fully vested and the shares have been provided to the transfer agent but remain subject to transfer and trading policy restrictions. The filing identifies the reporting person as a director and is recorded on 10/06/2025.

Syntec Optics Holdings, Inc. (OPTX) director Albert Manzone reported receipt of 77,320 restricted stock units (RSUs) that are fully vested and represent the contingent right to receive one Class A common share per RSU at a stated price of $1.94 per share. The RSUs were recorded as acquired on 10/06/2025 and the filing notes the shares were delivered to the transfer agent and remain subject to transfer and trading policy restrictions. The Form 4 lists Manzone as a director and indicates the earliest transaction date on the form is 12/20/2024. Following the reported transaction, Mr. Manzone beneficially owns 77,320 shares directly.

Director Walter A. Bishop reported acquisition of $1.94-priced restricted stock units that convert into Class A common shares. The filing shows 77,320 Restricted Stock Units (RSUs) were acquired with an effective/transaction date of 10/06/2025; each RSU represents the contingent right to one Class A share at $1.94. The RSUs are described as fully vested, and the underlying shares were provided to the transfer agent but remain subject to transfer restrictions and the company trading policy. The form lists an earliest transaction date of 12/20/2024 and is filed as a single reporting person filing by a director. The submission is a routine Section 16 disclosure of insider beneficial ownership changes.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) reported interim financial detail in its Form 10-Q for the period ended June 30, 2025. The company had 36,920,226 Class A shares outstanding and disaggregated revenue across end-markets with Consumer revenue of $2,525,120 and Defense revenue of $1,227,483 for one comparable period shown. Inventory and work-in-process balances are material, with work-in-process at $7,748,686.

Liquidity includes an $8.0M credit facility with M&T Bank, with $6,763,863 outstanding at June 30, 2025 and a weighted average borrowing rate of 7.31%. Total long-term debt outstanding across term notes is disclosed at $2,915,882, with scheduled maturities through 2029. Reported basic and diluted net (loss) income per share ranged around $(0.01) to $0.01 in presented periods. Significant customers represented 41%-43% of revenues from three customers, with related receivables about $2.8M.

Syntec Optics Holdings, Inc. filed a quarterly report highlighting its business status and notable financial and control items. The company had 36,920,226 shares issued and outstanding as of March 31, 2025 (up from 36,688,266 at year-end). Three customers accounted for 46% of revenues, with accounts receivable from those customers of approximately $3.3 million as of March 31, 2025 (versus $3.1 million a year earlier). The company has an $8.0 million line of credit with M&T Bank, with $6,263,863 outstanding and a weighted average borrowing rate of 7.31% at March 31, 2025. Retirement plan matching contributions were $49,000 for the three months ended March 31, 2025 (compared with $45,000 a year earlier). The filing discloses multiple material weaknesses in internal control across accounting processes, IT general controls, revenue and expense cutoffs, related‑party identification, valuation methodology for contingent earnouts, stock‑based compensation identification, and lease accounting.

Syntec Optics Holdings, Inc. (OPTX) completed a reverse recapitalization and reported consolidated 2024 results showing 36,688,266 shares outstanding. Revenue disclosed by end-market totaled about $4.9M in 2024 versus $4.8M in 2023. The company reported a basic and diluted net (loss) income per share of $(0.07) in 2024 versus $0.06 in 2023. Cash flows show a $1,559,458 decrease in cash in 2024. Total current liabilities were about $10.6M and total long-term debt was approximately $3.15M. The company had $6,263,863 outstanding under a line of credit at year-end and disclosed it was not in compliance with loan covenants as of December 31, 2024 but obtained a lender waiver dated March 21, 2025. Significant customer concentration remains, with ~48% of revenues from three customers in 2024. The company maintains cybersecurity governance reporting to the board and has governance certificates among directors.