Annual report pursuant to Section 13 and 15(d)

Document and Entity Information

Document and Entity Information - USD ($)
$ in Thousands
12 Months Ended
Oct. 02, 2016
Feb. 20, 2017
Mar. 31, 2016
Document And Entity Information      
Entity Registrant Name Optex Systems Holdings Inc    
Entity Central Index Key 0001397016    
Document Type 10-K/A    
Trading Symbol OPXS    
Document Period End Date Oct. 02, 2016    
Amendment Flag true    
Amendment Description

Explanatory Note:  This Amendment No. 1 to Form 10-K is being filed to update certain information in our audited financial statements for the year ended October 2, 2016 and related management’s discussion and analysis for the same period, as previously reported in our Form 10-K for the year ended October 2, 2016 as filed with the SEC on December 23, 2016.       


As discussed in Note 1 to the Financial Statements, on February 15, 2017, Optex Systems Holdings, Inc. (the “Company”) and its Board of Directors, after consultation with the Company’s independent registered public accounting firm, concluded that the Company would amend its Annual Report on Form 10-K for the year ended October 2, 2016 and restate its financial statements and financial information for the year ended October 2, 2016. The restatement adjusts warrant liability, paid in capital, retained deficit, general and administrative expenses, gain on change in fair value of warrants, and preferred stock dividend for the year ended October 2, 2016. The errors were caused by the Company’s failure to accurately identify the warrant liability as a derivative liability. The errors have been corrected. As a result, warrant liability has increased by $3.1 million, equity decreased by $3.1 million, general and administrative expenses increased by $0.7 million, gain on change in fair value of warrants increased by $0.7 million, and preferred stock dividend increased by $0.4 million related to the correct calculation of the derivative liability and beneficial conversion feature.


For the convenience of the reader, this Form 10-K/A sets forth the Original Form 10-K, as amended hereby, in its entirety. However, this Form 10-K/A amends and restates only Items 1A, 5, 7, 8, 9A, 12 and 15 of the Original Form 10-K, in each case solely as a result of and to reflect the adjustments discussed above and more fully in Note 1 of the accompanying financial statements, and no other information in the Original Form 10-K is amended hereby.


As required by Rule 12b-15 under the Securities Exchange Act of 1934, as amended, new certifications by Optex Systems Holdings, Inc.’s principal executive officer and principal financial officer are being filed with this Form 10-K/A as Exhibits 31.1, 31.2, 32.1 and 32.2. In addition, Item 8 has been amended to contain a currently-dated consent of independent registered public accounting firms.

Current Fiscal Year End Date --10-02    
Entity a Well-known Seasoned Issuer No    
Entity a Voluntary Filer No    
Entity's Reporting Status Current Yes    
Entity Filer Category Smaller Reporting Company    
Entity Public Float     $ 500,742
Entity Common Stock, Shares Outstanding   8,190,101  
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2016