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Reverse Capitalization (Tables)
12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Merge Allocated of Consolidated Statements of Operations

The following table summarizes the elements of the merger allocated to the Consolidated Statements of Changes in Stockholder’s Equity:

 

   Amounts 
Cash: OLIT trust  $3,167,479 
Cash: OLIT   45,946 
Gross Proceeds   3,213,425 
Net liabilities assumed in merger transaction   (158,404)
OLIT transaction costs paid at close   (1,365,000)
Net benefit assumed in recapitalization  $1,690,021 

 

   Number of Shares 
Common stock, outstanding prior to merger   1,348,049 
Less: Redemption of OLIT shares   (1,051,450)
OLIT Public Shares   296,599 
OLIT Sponsor Shares   4,791,667 
Legacy Syntec shares (1)   31,600,000 
Total shares of common stock immediately after the merger   36,688,266 

 

(1)   - The number of Legacy Syntec shares was determined from the shares of Legacy Syntec outstanding immediately prior to the closing of the merger converted at The Exchange Ratio. All fractional shares were rounded down.