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Inventory
12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Inventory

Note 4 Inventory

 

Inventory consists of the following at December 31:

 

   2024   2023 
         
Raw Materials  $487,405   $1,144,322 
Work-in-Process   6,815,425    4,818,156 
Finished Goods   153,353    188,251 
Inventory gross   7,456,183    6,150,729 
Less: Reserve for Obsolescence   502,905    316,620 
           
Inventory  $6,953,278   $5,834,109 

 

The Company experienced a significant increase in the Reserve for Obsolescence due to incremental risk in one particular customer which was assessed at a higher rate because of market instability.

 

 

SYNTEC OPTICS HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024 AND 2023