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<p id="xdx_80C_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_z0xnM3ywsxub" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Note 1 — Description of Organization and Business Operations Nature of Business Syntec Optics Holdings, Inc. (the “Company” or “Syntec Optics”) is a vertically integrated manufacturer of optics and photonics components and sub-systems – from opto-mechanicals to optical elements of various geometries, diamond turned optics – both prototype and production, and optical systems including optics assembly, electro-optics assembly, design, and coating. Sales are made to customers in the United States and Europe in defense, medical, and consumer end-markets. The Company has one reporting segment as its operating segments meet the requirements for aggregation.

Note 2 — Summary of Significant Accounting Policies The Company has provided a discussion of significant accounting policies, estimates and judgements in its 2025 Annual Report. There have been no changes to the Company’s significant accounting policies since December 31, 2025. Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”), the instructions to Form 10-Q and the provisions of Regulation S-X pertaining to interim unaudited condensed financial statements. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. have been condensed or omitted. The interim unaudited condensed consolidated financial statements and notes included in this report should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. In the opinion of management, these interim unaudited condensed consolidated financial statements include all adjustments and accruals of a normal and recurring nature necessary to fairly state the results of the interim periods presented. The results for interim periods are not necessarily indicative of results to be expected for the full year or for any future periods. Recent Accounting Pronouncements In July 2025, the FASB issued ASU 2025-05, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendments in this ASU provide that in developing reasonable and supportable forecasts as part of estimating expected credit losses for current accounts receivable and current contract assets, all entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. The amendments in this ASU are effective for all entities for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods, with updates to be applied on a prospective basis. The Company adopted ASU 2025-05 as of January 1, 2026. The adoption of ASU 2025-05 did not have a material impact on the Company’s financial statements. Revision to Previously Issued Financial Statements During the preparation of the Company’s interim condensed consolidated financial statements as of and for the three months ended March 31, 2026, the Company identified an immaterial classification error related to the presentation of long-term debt obligations on the consolidated balance sheet as of December 31, 2025. Specifically, Long-Term Debt Obligations - Related Party, previously reported as $1,268,732 should have been $<span id="xdx_905_eus-gaap--LongTermDebtNoncurrent_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zOCbeUuG6491" title="Long-term debt obligations, non-current">862,237, with the remaining $406,495 should have been classified within Long-Term Debt Obligations. Accordingly, the Company revised the December 31, 2025 presentation to reclassify $406,495 from Long-Term Debt Obligations - Related Party to Long-Term Debt Obligations, as noted on the condensed consolidated balance sheet herein. The revision had no effect on total liabilities, stockholders’ equity, results of operations, cash flows, or basic and diluted loss per share. SYNTEC OPTICS HOLDINGS, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”), the instructions to Form 10-Q and the provisions of Regulation S-X pertaining to interim unaudited condensed financial statements. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. have been condensed or omitted. The interim unaudited condensed consolidated financial statements and notes included in this report should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. In the opinion of management, these interim unaudited condensed consolidated financial statements include all adjustments and accruals of a normal and recurring nature necessary to fairly state the results of the interim periods presented. The results for interim periods are not necessarily indicative of results to be expected for the full year or for any future periods.

Recent Accounting Pronouncements In July 2025, the FASB issued ASU 2025-05, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendments in this ASU provide that in developing reasonable and supportable forecasts as part of estimating expected credit losses for current accounts receivable and current contract assets, all entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. The amendments in this ASU are effective for all entities for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods, with updates to be applied on a prospective basis. The Company adopted ASU 2025-05 as of January 1, 2026. The adoption of ASU 2025-05 did not have a material impact on the Company’s financial statements.

Revision to Previously Issued Financial Statements During the preparation of the Company’s interim condensed consolidated financial statements as of and for the three months ended March 31, 2026, the Company identified an immaterial classification error related to the presentation of long-term debt obligations on the consolidated balance sheet as of December 31, 2025. Specifically, Long-Term Debt Obligations - Related Party, previously reported as $1,268,732 should have been $<span id="xdx_905_eus-gaap--LongTermDebtNoncurrent_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zOCbeUuG6491" title="Long-term debt obligations, non-current">862,237, with the remaining $406,495 should have been classified within Long-Term Debt Obligations. Accordingly, the Company revised the December 31, 2025 presentation to reclassify $406,495 from Long-Term Debt Obligations - Related Party to Long-Term Debt Obligations, as noted on the condensed consolidated balance sheet herein. The revision had no effect on total liabilities, stockholders’ equity, results of operations, cash flows, or basic and diluted loss per share.

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Note 3 — Disaggregated Revenues The following table disaggregates revenue by revenue recognition methodologies for the three months ended March 31: Schedule of Disaggregated Revenues <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260101__20260331_zrwWdpjZrmd2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250331_zRWTUE2Ih5Kg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--ProductsMember_zBUQM1E7z4Rh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Products</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,460,593</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,920,222</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--CustomToolingMember_z39R3JtgP2Wl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Custom Tooling</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">118,820</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--NonRecurringEngineeringMember_zp3JtkEI78e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-Recurring Engineering</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28,884</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">30,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_znZmeLPVtZJ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,513,366</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,069,042</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Syntec Optics’ management periodically reviews its revenues by its consumer, communication, medical, and defense end-markets. The purpose of this analysis is to determine its end market mix and identify trends. The following table disaggregates revenue as outlined above for the three months ended March 31: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zmqQTHz9K6O9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250101__20250331_zf0JQaUTYpwj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--MajorCustomersAxis__custom--CommunicationMember_z6j3WA2A8l5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Communication</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,844,262</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,861,378</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--MajorCustomersAxis__custom--ConsumerMember_z2qxDSjhJpue" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Consumer</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,593,688</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,163,289</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--MajorCustomersAxis__custom--DefenseMember_zCH7yfJEyWI2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Defense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,556,286</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,558,502</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--MajorCustomersAxis__custom--MedicalMember_zHDqzWwGaY11" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Medical</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,519,130</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,485,873</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z8y3qLAOjM29" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,513,366</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,069,042</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SYNTEC OPTICS HOLDINGS, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The following table disaggregates revenue by revenue recognition methodologies for the three months ended March 31: Schedule of Disaggregated Revenues <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260101__20260331_zrwWdpjZrmd2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250331_zRWTUE2Ih5Kg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--ProductsMember_zBUQM1E7z4Rh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Products</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,460,593</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,920,222</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--CustomToolingMember_z39R3JtgP2Wl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Custom Tooling</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">118,820</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--NonRecurringEngineeringMember_zp3JtkEI78e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-Recurring Engineering</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28,884</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">30,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_znZmeLPVtZJ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,513,366</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,069,042</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Syntec Optics’ management periodically reviews its revenues by its consumer, communication, medical, and defense end-markets. The purpose of this analysis is to determine its end market mix and identify trends. The following table disaggregates revenue as outlined above for the three months ended March 31: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zmqQTHz9K6O9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250101__20250331_zf0JQaUTYpwj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--MajorCustomersAxis__custom--CommunicationMember_z6j3WA2A8l5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Communication</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,844,262</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,861,378</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--MajorCustomersAxis__custom--ConsumerMember_z2qxDSjhJpue" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Consumer</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,593,688</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,163,289</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--MajorCustomersAxis__custom--DefenseMember_zCH7yfJEyWI2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Defense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,556,286</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,558,502</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--MajorCustomersAxis__custom--MedicalMember_zHDqzWwGaY11" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Medical</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,519,130</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,485,873</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z8y3qLAOjM29" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,513,366</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,069,042</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6460593

6920222

23889

118820

28884

30000

6513366

7069042

1844262

1861378

1593688

1163289

1556286

1558502

1519130

2485873

6513366

7069042

Note 4 — Inventory Inventory consists of the following at March 31, 2026 and December 31, 2025: Schedule of Inventory <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331_zM6YlQ4UgaM4" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zxRYg2obwDsj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--InventoryRawMaterials_iI_maINziMH_maIGzulQ_z2DRaDf8wL57" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Raw Materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">364,404</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">360,280</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryWorkInProcess_iI_maINziMH_maIGzulQ_zVc8cXahmCB6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Work-in-Process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,823,916</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,956,924</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_maINziMH_maIGzulQ_zgw8TL3sZST1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Finished Goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">195,947</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">151,311</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryGross_iTI_mtIGzulQ_maINz9j1_zb8qODr2Com6" style="vertical-align: bottom; background-color: White"> <td>Inventory gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,384,267</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,468,515</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryValuationReserves_iI_msINz9j1_z4L72IyPZvK5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Reserve for Obsolescence</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">585,870</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">583,572</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryNet_iTI_mtINz9j1_zDyxHzKFfwr" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,798,397</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,884,943</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Inventory consists of the following at March 31, 2026 and December 31, 2025: Schedule of Inventory <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331_zM6YlQ4UgaM4" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zxRYg2obwDsj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--InventoryRawMaterials_iI_maINziMH_maIGzulQ_z2DRaDf8wL57" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Raw Materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">364,404</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">360,280</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryWorkInProcess_iI_maINziMH_maIGzulQ_zVc8cXahmCB6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Work-in-Process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,823,916</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,956,924</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_maINziMH_maIGzulQ_zgw8TL3sZST1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Finished Goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">195,947</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">151,311</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryGross_iTI_mtIGzulQ_maINz9j1_zb8qODr2Com6" style="vertical-align: bottom; background-color: White"> <td>Inventory gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,384,267</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,468,515</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryValuationReserves_iI_msINz9j1_z4L72IyPZvK5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Reserve for Obsolescence</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">585,870</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">583,572</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryNet_iTI_mtINz9j1_zDyxHzKFfwr" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,798,397</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,884,943</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

364404

360280

7823916

7956924

195947

151311

8384267

8468515

585870

583572

7798397

7884943

Note 5 — Property and Equipment Property and equipment consists of the following at March 31, 2026 and December 31, 2025: Schedule of Property and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260331_zG5wyWMfVXi4" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_zPG4MOJSfBtg" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zDcNinjWnIR6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Machinery and Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">35,045,729</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">34,541,704</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BuildingAndLeaseholdImprovementsMember_zU8ro7NyT8rd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Building and Leasehold Improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,483,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,483,616</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zHfhZ6JVi49e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Land</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zke7ZNMfKK7f" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Office Furniture and Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,295,749</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,295,748</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ToolingMember_zViABcfSSa1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tooling</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">169,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">169,307</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zOTOEPYObMIl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: justify">Vehicles</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,059</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,059</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzf3h_zjLb2Yi9hAl5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and Equipment Gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,148,562</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,644,434</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iI_msPPAENzf3h_zLVMlr0SwLQ4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: Accumulated Depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">34,011,413</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">33,471,731</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzf3h_zCb0LGxgjGU3" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Property and Equipment, Net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,137,149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,172,703</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Depreciation expenses were $539,682 and $710,804 for the three months ended March 31, 2026 and 2025, respectively. SYNTEC OPTICS HOLDINGS, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Property and equipment consists of the following at March 31, 2026 and December 31, 2025: Schedule of Property and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260331_zG5wyWMfVXi4" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_zPG4MOJSfBtg" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zDcNinjWnIR6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Machinery and Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">35,045,729</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">34,541,704</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BuildingAndLeaseholdImprovementsMember_zU8ro7NyT8rd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Building and Leasehold Improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,483,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,483,616</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zHfhZ6JVi49e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Land</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zke7ZNMfKK7f" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Office Furniture and Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,295,749</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,295,748</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ToolingMember_zViABcfSSa1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tooling</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">169,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">169,307</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zOTOEPYObMIl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: justify">Vehicles</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,059</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,059</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzf3h_zjLb2Yi9hAl5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and Equipment Gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,148,562</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,644,434</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iI_msPPAENzf3h_zLVMlr0SwLQ4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: Accumulated Depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">34,011,413</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">33,471,731</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzf3h_zCb0LGxgjGU3" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Property and Equipment, Net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,137,149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,172,703</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

35045729

34541704

5483617

5483616

130000

2295749

2295748

169408

169307

24059

43148562

42644434

34011413

33471731

9137149

9172703

539682

710804

Note 6 — Line of Credit The Company has a line of credit available in the amount of $7,500,000 with M&T Bank (the “Credit Agreement”). Borrowings may be made against the line of credit as Secured Overnight Financing Rate (“SOFR”) Loans. The weighted average rate on outstanding borrowings as of March 31, 2026 was 7.31%. As of March 31, 2026 and December 31, 2025, the Company had $6,763,863 outstanding under the line of credit facility, for both periods. The Credit Agreement contains customary covenants and restrictions on the Company’s ability to engage in certain activities and financial covenants requiring the Company to maintain certain financial ratios. As of March 31, 2026, the Company was not in compliance with certain financial covenants under its Amended and Restated Credit Agreement with M&T Bank, including the minimum fixed charge coverage ratio of 1.10:1.00 and the maximum total leverage ratio of 4.75:1.00. On May 5, 2026, the Company made a $2.0 million payment on the line of credit, reducing the balance to $4.8 million. On May 13, 2026, the Company made a payment of approximately $4.8 million on the line of credit, reducing the balance to zero. On May 13, 2026, the Company received a waiver letter with M&T Bank related to the Company’s noncompliance with certain financial covenants under its Amended and Restated Credit Agreement as of March 31, 2026, including the minimum Fixed Charge Coverage Ratio and maximum Total Leverage Ratio, as well as certain mandatory prepayment provisions related to the Company’s April 2026 equity offering. In connection with the waiver, the Company paid down the outstanding balance on its line of credit to zero as of May 13, 2026 and paid a waiver fee of $50,000. Pursuant to the waiver letter, the Company is required to maintain a minimum of $<span id="xdx_90E_eus-gaap--Cash_iI_pn5n6_c20260513__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--CreditFacilityAxis__custom--MAndTBankMember_zWS3mu4T0M99" title="Liquidity invested">7.5 million of liquidity invested with M&T Bank. In addition, the previous minimum Fixed Charge Coverage Ratio and maximum Total Leverage Ratio financial covenants were removed from the Credit Agreement, and the maturity date of the Company’s $7.5 million revolving credit facility was extended to June 30, 2027.

7500000

0.0731

6763863

2000000.0

4800000

50000

7500000

2027-06-30

Note 7 — Long-Term Debt Long-term debt consists of the following at March 31, 2026 and December 31, 2025: Schedule of Long Term Debt Maturities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331_zUe33s2nmRra" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_ztVwxxBtWuT3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_zUtfwhHITMR" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">The Company entered into a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_c20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_z7v9fan6Fhpl" title="Debt instrument face value">863,607 mortgage note payable, securitized by the Company’s real estate and cross-collateralized with all Company assets, with M&T Bank, requiring monthly installments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPayment_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_zEXbkI2jvzp" title="Principal installments">7,389, including interest at a fixed rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_uPure_c20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_zfQ4eVccSIz9" title="Interest rate percentage">6.13%. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_zwiyQkKsPWnc" title="Maturity, description">The note matures in February 2029.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">789,074</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">799,052</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_znrAJF9qf9Fc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">The Company entered into a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20260331__us-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_zZiBWDkEEJ5k" title="Debt instrument face value">1,064,000 term note payable with the U.S. Small Business Administration, requiring monthly installments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--DebtInstrumentPeriodicPayment_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_zRmbtoMCali3" title="Principal installments">6,652, including fees and interest at a fixed rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20260331__us-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_zuEPq5EYkLJa" title="Interest rate percentage">2.22%. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_zTrSIEgwsSLf" title="Maturity, description">The note matures in June 2036. The note is secured by certain assets of the Company and a personal guaranty of the Company’s stockholder.</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">603,369</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">616,440</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zWFgAQf9kVV5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"> On November 13, 2025, the Company entered into a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20251113__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zohaHGmSkmm8" title="Debt instrument face value">1,268,732 Stockholder Loan, the proceeds of which were applied to pay down the M&T term notes above. The note is subject to an M&T Bank subordination agreement which may limit any repayments. The note amortization calls for monthly payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPayment_pp2d_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zlKlLLhznyp6" title="Principal installments">40,031.03 at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zauqV9qBrsd3" title="Interest rate percentage">6.95% effective annual rate and matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zuCsVvQZdISg" title="Maturity date">October 31, 2028. On February 28, 2026, the Company borrowed an additional $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20260228__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zyoMNPaEI2b5" title="Debt instrument face value">200,000 from the same stockholder with identical terms, other than the second loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_dd_c20260228__20260228__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zffW1oCRcTK9" title="Maturity date">January 31, 2029.</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,468,733</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,268,732</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentCarryingAmount_iI_maLTDzyz4_zmZzSfz0cvEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Long-Term Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,861,176</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,684,224</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_iI_msLTDzyz4_zxWEjiOMUIke" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Unamortized Debt Issuance Costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,921</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55,091</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebt_iTI_mtLTDzyz4_zDDHKHzUlRAg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Long-Term Debt, Less Unamortized Debt Issuance Costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,810,255</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,629,133</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtCurrent_iI_zbuGLY1JSuTf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Current Maturities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">558,116</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">499,853</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LongTermDebtNoncurrent_iI_z9Yszt9D3tQb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Long-Term Debt</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,252,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,129,280</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> At March 31, 2026, the future debt maturities are as follows: Schedule of Long Term Future Debt Maturities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: justify"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49D_20260331_zH6hadsrqgVg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maDICAzyNk_zQE37SnpXMbl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">December 31, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">413,981</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maDICAzyNk_zF39OqTsYBBh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">590,334</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maDICAzyNk_z5XcFjzzKpci" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">733,808</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maDICAzyNk_zFQjvUI2V0T7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,525</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maDICAzyNk_zzNQfy9ovhWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109,886</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour_iI_maDICAzyNk_zGDh9OvDHvTg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">907,642</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentCarryingAmount_iTI_mtDICAzyNk_zDvT7OWs6hZj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,861,176</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SYNTEC OPTICS HOLDINGS, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Long-term debt consists of the following at March 31, 2026 and December 31, 2025: Schedule of Long Term Debt Maturities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331_zUe33s2nmRra" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_ztVwxxBtWuT3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40A_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_zUtfwhHITMR" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">The Company entered into a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_c20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_z7v9fan6Fhpl" title="Debt instrument face value">863,607 mortgage note payable, securitized by the Company’s real estate and cross-collateralized with all Company assets, with M&T Bank, requiring monthly installments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPayment_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_zEXbkI2jvzp" title="Principal installments">7,389, including interest at a fixed rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_uPure_c20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_zfQ4eVccSIz9" title="Interest rate percentage">6.13%. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableOneMember_zwiyQkKsPWnc" title="Maturity, description">The note matures in February 2029.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">789,074</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">799,052</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_znrAJF9qf9Fc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">The Company entered into a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20260331__us-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_zZiBWDkEEJ5k" title="Debt instrument face value">1,064,000 term note payable with the U.S. Small Business Administration, requiring monthly installments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--DebtInstrumentPeriodicPayment_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_zRmbtoMCali3" title="Principal installments">6,652, including fees and interest at a fixed rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20260331__us-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_zuEPq5EYkLJa" title="Interest rate percentage">2.22%. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eus-gaap--DebtInstrumentMaturityDateDescription_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--USSmallBusinessAdministrationTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableTwoMember_zTrSIEgwsSLf" title="Maturity, description">The note matures in June 2036. The note is secured by certain assets of the Company and a personal guaranty of the Company’s stockholder.</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">603,369</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">616,440</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zWFgAQf9kVV5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"> On November 13, 2025, the Company entered into a $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20251113__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zohaHGmSkmm8" title="Debt instrument face value">1,268,732 Stockholder Loan, the proceeds of which were applied to pay down the M&T term notes above. The note is subject to an M&T Bank subordination agreement which may limit any repayments. The note amortization calls for monthly payments of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPayment_pp2d_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zlKlLLhznyp6" title="Principal installments">40,031.03 at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zauqV9qBrsd3" title="Interest rate percentage">6.95% effective annual rate and matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--DebtInstrumentMaturityDate_dd_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zuCsVvQZdISg" title="Maturity date">October 31, 2028. On February 28, 2026, the Company borrowed an additional $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20260228__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zyoMNPaEI2b5" title="Debt instrument face value">200,000 from the same stockholder with identical terms, other than the second loan matures on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIExvbmcgVGVybSBEZWJ0IE1hdHVyaXRpZXMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_dd_c20260228__20260228__us-gaap--DebtInstrumentAxis__custom--MAndTBankTermNotePayableMember__us-gaap--LongtermDebtTypeAxis__custom--NotesPayableThreeMember_zffW1oCRcTK9" title="Maturity date">January 31, 2029.</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,468,733</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,268,732</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentCarryingAmount_iI_maLTDzyz4_zmZzSfz0cvEh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Long-Term Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,861,176</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,684,224</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_iI_msLTDzyz4_zxWEjiOMUIke" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Unamortized Debt Issuance Costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,921</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55,091</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebt_iTI_mtLTDzyz4_zDDHKHzUlRAg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Long-Term Debt, Less Unamortized Debt Issuance Costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,810,255</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,629,133</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtCurrent_iI_zbuGLY1JSuTf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Current Maturities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">558,116</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">499,853</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LongTermDebtNoncurrent_iI_z9Yszt9D3tQb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Long-Term Debt</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,252,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,129,280</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

863607

7389

0.0613

The note matures in February 2029

789074

799052

1064000

6652

0.0222

The note matures in June 2036

603369

616440

1268732

40031.03

0.0695

2028-10-31

200000

2029-01-31

1468733

1268732

2861176

2684224

50921

55091

2810255

2629133

558116

499853

2252139

2129280

At March 31, 2026, the future debt maturities are as follows: Schedule of Long Term Future Debt Maturities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: justify"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49D_20260331_zH6hadsrqgVg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maDICAzyNk_zQE37SnpXMbl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">December 31, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">413,981</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maDICAzyNk_zF39OqTsYBBh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">590,334</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maDICAzyNk_z5XcFjzzKpci" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">733,808</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maDICAzyNk_zFQjvUI2V0T7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,525</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maDICAzyNk_zzNQfy9ovhWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109,886</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour_iI_maDICAzyNk_zGDh9OvDHvTg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">907,642</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentCarryingAmount_iTI_mtDICAzyNk_zDvT7OWs6hZj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,861,176</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

413981

590334

733808

105525

109886

907642

2861176

Note 8 — Retirement Plan The Company maintains a 401(k) retirement plan covering eligible employees of the Company and its affiliates. Under the plan, participants may defer up to 6% of their annual compensation, with Syntec Optics matching 50% of employee contributions. Total contributions for the Company for the three months ended March 31, 2026 and 2025 amounted to $42,000 and $49,000, respectively.

Under the plan, participants may defer up to 6% of their annual compensation, with Syntec Optics matching 50% of employee contributions.

42000

49000

Note 9 — Income Taxes The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. The effective income tax rate was (32.5%) and 20.3% for the three months ended March 31, 2026 and 2025, respectively.

0.325

0.203

Note 10 — Leases During 2024, the Company entered into finance lease agreements for equipment utilized in its manufacturing facility. The components of operating and finance lease costs are as follows for the three months ended March 31: Schedule of Operating Lease and Finance Lease Costs <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Three Months Ended March 31, </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260101__20260331_znPB5d2Q6X62" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250331_zNNcfqFVFHta" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseCost_maLCz5jd_zlfzdG1REqxa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Operating lease cost</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LeaseCostAbstract_iB_zncvtIcckyF2" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Finance Lease Cost:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_maLCz5jd_z5DuvZjV3xg5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-indent: 10pt">Amortization of assets</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">82,156</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">82,157</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseInterestExpense_maLCz5jd_zjgPpB6ezhr" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Interest on liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">34,514</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">41,764</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LeaseCost_iT_mtLCz5jd_zazySSnLUvcj" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">116,670</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">123,921</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Supplemental cash flow information related to leases are as follows for the three months ended March 31: Schedule of Cash Flow Information Related To Leases <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260331_znPvJYm5Zkkl" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">2026</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250331_zUvoczt5gvLg" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">2025</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash paid for amounts included in measurement of lease obligations:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeasePayments_ztGxvtbvgjm8" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Operating cash flows from operating leases</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseInterestPaymentOnLiability_zY1eyWx5bDf7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt; text-align: left; text-indent: 10pt">Operating cash flows from finance leases</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">34,514</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">41,764</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FinanceLeasePrincipalPayments_zW5ALYqZ7ZAa" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Financing cash flows from finance leases</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">94,098</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">28,165</td><td style="font-size: 10pt; text-align: left"> </td></tr> </table> The following table summarizes weighted average remaining lease term and discount rates as of March 31, 2026, and December 31, 2025: Schedule of Weighted Average Remaining Lease Term <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Weighted average remaining lease term (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: justify">Finance leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3.76</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.00</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.4</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.4</td><td style="text-align: left">%</td></tr> </table> Future maturities of our lease liabilities are as follows as of March 31, 2026: Schedule of Future Maturities of Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: justify"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_499_20260331_zLQNS2Cxz5z4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzhK9_zxoeSSjT4cee" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026 remainder of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">385,143</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzhK9_zsEKgYDWKvKb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513,525</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzhK9_zQ2DKNoqEuUj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513,525</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzhK9_z4Oe9HBxogw6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513,524</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree_iI_maLOLLPzhK9_zMYJ6jF9ja7h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzhK9_zDpQWzWuoZol" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total Undiscounted Lease Obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,925,717</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_z6nheeNplJ0d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Imputed Interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(250,705</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_znv7AgQrpixi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Present Value of Lease Obligations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,675,012</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SYNTEC OPTICS HOLDINGS, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The components of operating and finance lease costs are as follows for the three months ended March 31: Schedule of Operating Lease and Finance Lease Costs <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Three Months Ended March 31, </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260101__20260331_znPB5d2Q6X62" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250331_zNNcfqFVFHta" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseCost_maLCz5jd_zlfzdG1REqxa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Operating lease cost</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LeaseCostAbstract_iB_zncvtIcckyF2" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Finance Lease Cost:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_maLCz5jd_z5DuvZjV3xg5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-indent: 10pt">Amortization of assets</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">82,156</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">82,157</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseInterestExpense_maLCz5jd_zjgPpB6ezhr" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Interest on liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">34,514</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">41,764</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LeaseCost_iT_mtLCz5jd_zazySSnLUvcj" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">116,670</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">123,921</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

82156

82157

34514

41764

116670

123921

Supplemental cash flow information related to leases are as follows for the three months ended March 31: Schedule of Cash Flow Information Related To Leases <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260331_znPvJYm5Zkkl" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">2026</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250331_zUvoczt5gvLg" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">2025</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash paid for amounts included in measurement of lease obligations:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeasePayments_ztGxvtbvgjm8" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Operating cash flows from operating leases</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseInterestPaymentOnLiability_zY1eyWx5bDf7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt; text-align: left; text-indent: 10pt">Operating cash flows from finance leases</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">34,514</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">41,764</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FinanceLeasePrincipalPayments_zW5ALYqZ7ZAa" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Financing cash flows from finance leases</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">94,098</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">28,165</td><td style="font-size: 10pt; text-align: left"> </td></tr> </table>

34514

41764

94098

28165

The following table summarizes weighted average remaining lease term and discount rates as of March 31, 2026, and December 31, 2025: Schedule of Weighted Average Remaining Lease Term <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Weighted average remaining lease term (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: justify">Finance leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3.76</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.00</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.4</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.4</td><td style="text-align: left">%</td></tr> </table>

P3Y9M3D

P4Y

0.084

Future maturities of our lease liabilities are as follows as of March 31, 2026: Schedule of Future Maturities of Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: justify"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_499_20260331_zLQNS2Cxz5z4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzhK9_zxoeSSjT4cee" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026 remainder of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">385,143</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzhK9_zsEKgYDWKvKb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513,525</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzhK9_zQ2DKNoqEuUj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513,525</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzhK9_z4Oe9HBxogw6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513,524</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree_iI_maLOLLPzhK9_zMYJ6jF9ja7h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzhK9_zDpQWzWuoZol" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total Undiscounted Lease Obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,925,717</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_z6nheeNplJ0d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Imputed Interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(250,705</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_znv7AgQrpixi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Present Value of Lease Obligations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,675,012</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

385143

513525

513524

1925717

250705

1675012

Note 11 — Warrants The following tables presents a roll-forward of the Company’s warrants from December 31, 2025 to March 31, 2026: Schedule of Warrant <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Common Stock Warrants</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Warrants outstanding, December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zbseL5C3YMWh" style="width: 16%; text-align: right" title="Warrants outstanding, beginning balance">14,107,989</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Warrants exercised</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--WarrantExercised_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zEyo0p0Nk6qb" style="border-bottom: Black 1pt solid; text-align: right" title="Warrant exercised">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Warrants outstanding, March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zrEo5WnOnqKb" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, ending balance">14,107,989</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The following tables presents a roll-forward of the Company’s warrants from December 31, 2025 to March 31, 2026: Schedule of Warrant <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Common Stock Warrants</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Warrants outstanding, December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zbseL5C3YMWh" style="width: 16%; text-align: right" title="Warrants outstanding, beginning balance">14,107,989</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Warrants exercised</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--WarrantExercised_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zEyo0p0Nk6qb" style="border-bottom: Black 1pt solid; text-align: right" title="Warrant exercised">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Warrants outstanding, March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zrEo5WnOnqKb" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, ending balance">14,107,989</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

14107989

Note 12 — (Loss) Income Per Share The following table sets forth the information needed to compute basic and diluted (loss) income per share for the three months ended March 31, 2026 and 2025: Schedule of Basic And Diluted (Loss) Income Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260101__20260331_z8bFtcUjtDNi" style="border-bottom: Black 1pt solid; display: none; text-align: center">2026</td><td style="display: none; text-align: center; padding-bottom: 1pt"> </td><td style="display: none; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250331_zSGAjkCClRTe" style="border-bottom: Black 1pt solid; display: none; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended March 31, </td><td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Basic and diluted net (loss) income per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: justify">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_zLd9xPj9F8W3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 60%; text-align: justify; padding-bottom: 1pt">Net (loss) income</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(897,857</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">323,665</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Basic and diluted net (loss) income per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIEFuZCBEaWx1dGVkIChMb3NzKSBFYXJuaW5ncyBQZXIgU2hhcmUgKERldGFpbHMpAA__" id="xdx_905_eus-gaap--EarningsPerShareBasic_pid_c20260101__20260331_znqiAACLLUoa" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIEFuZCBEaWx1dGVkIChMb3NzKSBFYXJuaW5ncyBQZXIgU2hhcmUgKERldGFpbHMpAA__" id="xdx_90E_eus-gaap--EarningsPerShareDiluted_pid_c20260101__20260331_zFUc5RuGV0G6" title="Diluted net income (loss) per share">(0.02</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIEFuZCBEaWx1dGVkIChMb3NzKSBFYXJuaW5ncyBQZXIgU2hhcmUgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331_zzpHoz2XS9oe" title="Basic, net (loss) earnings per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIEFuZCBEaWx1dGVkIChMb3NzKSBFYXJuaW5ncyBQZXIgU2hhcmUgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331_zCNGQFJPjTpf" title="Diluted, net (loss) earnings per share">0.01</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Denominator</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_zar1S1ZplORa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: justify; padding-bottom: 1pt">Weighted-average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,953,087</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,920,226</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_zBcgAjWu8yCh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: justify; padding-bottom: 1pt">Diluted Shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,953,087</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,920,226</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

The following table sets forth the information needed to compute basic and diluted (loss) income per share for the three months ended March 31, 2026 and 2025: Schedule of Basic And Diluted (Loss) Income Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260101__20260331_z8bFtcUjtDNi" style="border-bottom: Black 1pt solid; display: none; text-align: center">2026</td><td style="display: none; text-align: center; padding-bottom: 1pt"> </td><td style="display: none; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250331_zSGAjkCClRTe" style="border-bottom: Black 1pt solid; display: none; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended March 31, </td><td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Basic and diluted net (loss) income per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: justify">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_zLd9xPj9F8W3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 60%; text-align: justify; padding-bottom: 1pt">Net (loss) income</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(897,857</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">323,665</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Basic and diluted net (loss) income per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIEFuZCBEaWx1dGVkIChMb3NzKSBFYXJuaW5ncyBQZXIgU2hhcmUgKERldGFpbHMpAA__" id="xdx_905_eus-gaap--EarningsPerShareBasic_pid_c20260101__20260331_znqiAACLLUoa" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIEFuZCBEaWx1dGVkIChMb3NzKSBFYXJuaW5ncyBQZXIgU2hhcmUgKERldGFpbHMpAA__" id="xdx_90E_eus-gaap--EarningsPerShareDiluted_pid_c20260101__20260331_zFUc5RuGV0G6" title="Diluted net income (loss) per share">(0.02</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIEFuZCBEaWx1dGVkIChMb3NzKSBFYXJuaW5ncyBQZXIgU2hhcmUgKERldGFpbHMpAA__" id="xdx_90C_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331_zzpHoz2XS9oe" title="Basic, net (loss) earnings per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIEJhc2ljIEFuZCBEaWx1dGVkIChMb3NzKSBFYXJuaW5ncyBQZXIgU2hhcmUgKERldGFpbHMpAA__" id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331_zCNGQFJPjTpf" title="Diluted, net (loss) earnings per share">0.01</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Denominator</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_zar1S1ZplORa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: justify; padding-bottom: 1pt">Weighted-average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,953,087</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,920,226</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_zBcgAjWu8yCh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: justify; padding-bottom: 1pt">Diluted Shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,953,087</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">36,920,226</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

-897857

323665

-0.02

0.01

36953087

36920226

36953087

36920226

Note 13 — Significant Customers For the three months ended March 31, 2026, the Company generated <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zhVgm05KGg32" title="Concentration risk percentage">53% of revenues from three customers. These three customers are in different end-markets utilizing diverse manufacturing capabilities from the Company. The outstanding accounts receivable due from these customers were approximately $<span id="xdx_902_eus-gaap--AccountsReceivableNetCurrent_iI_pn5n6_c20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zonk7fs8clXe" title="Accounts receivable">2.5 million as of March 31, 2026. For the three months ended March 31, 2025, the Company generated <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zj8Q5uJB0FDg" title="Concentration risk percentage">46% of revenues from three customers. The outstanding accounts receivable due from these customers were approximately $<span id="xdx_905_eus-gaap--AccountsReceivableNetCurrent_iI_pn5n6_c20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zxeuy576a6Y6" title="Accounts receivable">3.3 million as of March 31, 2025.

0.53

2500000

0.46

3300000

Note 14 — Segment reporting The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer, who reviews the financial statements on a consolidated basis. The CODM uses the Company’s long-range plan to allocate resources. The CODM makes decisions on resource allocation, assessments of performance, and monitors budget versus actual results using consolidated loss from operations. Significant expenses within loss from operations, as well as within net loss, include general and administrative expenses, and other expenses which are each separately presented on the Company’s Consolidated Statements of Operations and Comprehensive Loss.

Note 15 — Subsequent Events On April 30, 2026, the Company completed an underwritten public offering of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260430__20260430__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_z6ri5YpYlT52" title="Number of share issued in public offering">2,857,142 shares of its common stock at a public offering price of $<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_c20260430__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zCBc2ebwnTB3" title="Share issue price per share">7.00 per share. The gross proceeds from the offering were approximately $<span id="xdx_90C_ecustom--GrossProceedsFromIssuanceOfCommonStock_pn5n6_c20260430__20260430__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_z2EApM4EfZQc" title="Gross proceeds from public offering">20.0 million, before deducting underwriting discounts, commissions and other offering expenses. Net proceeds to the Company were approximately $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20260430__20260430__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zuQFKoP3rxLj" title="Net proceeds from public offering">18.6 million. The offering was conducted pursuant to the Company’s Registration Statement on Form S-1 (File No. 333-295335), which was declared effective by the Securities and Exchange Commission on April 28, 2026. The Company granted the underwriter a 30-day option to purchase up to an additional <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260501__20260501__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zLDPhyFJtxF8" title="Number of option granted">428,571 shares of common stock at the public offering price, less underwriting discounts and commissions. On May 1, 2026, the underwriter in the aforementioned April 30 transaction chose to exercise its option to purchase an additional <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260501__20260501__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zhWhecnrEsul" title="Number of share issued in public offering">428,571 shares of common stock. Net proceeds to the Company were approximately $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20260501__20260501__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--UnderwrittenPublicOfferingMember_zT05ulmEajui" title="Net proceeds from public offering">2.8 million. On May 5, 2026, the Company made a $2.0 million payment on the line of credit, reducing the balance to $4,763,863. On May 13, 2026, the Company made a payment of approximately $4.8 million on the line of credit, reducing the balance to zero. On May 13, 2026, the Company received a waiver letter with M&T Bank related to the Company’s noncompliance with certain financial covenants under its Amended and Restated Credit Agreement as of March 31, 2026, including the minimum Fixed Charge Coverage Ratio and maximum Total Leverage Ratio, as well as certain mandatory prepayment provisions related to the Company’s April 2026 equity offering. In connection with the waiver letter, the Company repaid the outstanding balance on its revolving line of credit to zero as of May 13, 2026, paid a waiver fee of $50,000, and agreed to maintain minimum liquidity of $<span id="xdx_90A_eus-gaap--Cash_iI_pn5n6_c20260513__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--CreditFacilityAxis__custom--MAndTBankMember_z6KI7gxUxj5e" title="Liquidity invested">7.5 million invested with M&T Bank. The Company’s revolving credit facility availability of $7.5 million remains in place and the maturity date was extended to June 30, 2027.

2857142

7.00

20000000.0

18600000

428571

2800000

2000000.0

4763863

4800000

50000

7500000

2027-06-30