OLIT SEC filings, in plain English
Everything OmniLit Acquisition Corp. has filed with the SEC that we hold — 40 filings, newest first, 3 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: The filing reports that Syntec Optics Holdings, Inc. dismissed CBIZ CPAs P.C. as its independent registered public accounting firm effective August 19, 2026, and appointed WithumSmith+Brown, PC as its successor. The document details five specific material weaknesses in internal control over financial reporting identified during the fiscal year ended December 31, 2025: (1) lack of documentation of formal internal control processes, including review of journal entries and segregation of duties; (2) lack of timely reconciliation controls for accounts payable, accrued legal expenses, and provision for income taxes; (3) lack of controls relating to identification and disclosure of related-party transactions; (4) lack of controls related to evaluation of non-routine transactions including financial instruments; and (5) lack of necessary IT general controls infrastructure regarding user access and program change-management due to insufficient documentation, training, and inadequate IT risk assessment, alongside a lack of controls around SOC-1 report reviews and cyber security. The filing states there were no disagreements with CBIZ CPAs on accounting principles or auditing scope, but notes the audit report did not contain an adverse opinion or disclaimer. Why it matters: This is significant because it discloses multiple material weaknesses in internal controls, which raises concerns about the reliability of financial reporting and the effectiveness of oversight at Syntec Optics. The dismissal of the auditor and engagement of a new one, coupled with these disclosed deficiencies, may impact investor confidence in the company's financial integrity and compliance standards following its SPAC merger. It also signals potential operational or governance issues that investors should monitor closely.
What changed: Q2 2026 10-Q of Syntec Optics Holdings, Inc. (Nasdaq: OPTX). Net sales were $8,273,858 for the quarter versus $6,559,455 and $14,787,224 for the six months versus $13,628,497; gross profit was $2,143,064 versus $1,597,966 for the quarter but $3,103,856 versus $3,906,584 for the six months. Net income was $256,237 against a prior-year loss of $(343,921) for the quarter, while the six months show a loss of $(641,620) against $(20,256). Why it matters: An equity raise of about $21.4 million cleared the revolver and lifted cash from $0.36 million to $14.0 million. Quarterly sales grew 26% year over year, but the half-year is still a net loss because of the weaker first quarter.
mandate languagenothing moved · 1 with no prior record of ours
- Mandate language
- we intend to focus on: ● Optical Communications (+11%), Wide… · unchanged
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Syntec Optics Holdings, Inc., the successor to OmniLit Acquisition Corp., called its 2025 annual meeting for Tuesday, January 20, 2026 at 5:00 p.m. Eastern time, held entirely via the Internet, record date November 24, 2025, at which 36,920,226 shares of common stock were issued and outstanding. Al Kapoor signs as Chairman of the Board and Chief Executive Officer, and Colonial Stock Transfer Company acts as the transfer agent handling shareholder questions on voting. Why it matters: Routine annual governance with a single class of 36.9 million shares and no trust or redemption right remaining from the OmniLit SPAC. The combined chairman and chief executive roles mean no independent board leadership checks management, which is the main governance point for outside holders; the filing puts no financing, plan increase or split proposal to a vote, so no new dilution is being authorised here.
- What changed vs 2024-05-23mandate language changed
mandate language1 moved
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
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