Company: LASE
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001641172-25-024367
Chunk: 8

Company: Laser Photonics Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 date of purchase.
Cash and cash equivalents are carried at cost, which approximates fair value.

As
of June 30, 2025, and December 31, 2024, the Company had $78,522 and $533,871 of cash, respectively.

    7

Accounts
Receivable

Trade
accounts receivable are recorded net of allowance for expected uncollectible accounts. The Company extends credit to its customers in
the normal course of business and performs on-going credit evaluations of its customers. All accounts, or portions thereof, that are
deemed uncollectible are written off to bad debt expense, as incurred. As of June 30, 2025, and December 31, 2024, the Company’s
ledger had $877,522 and $973,605, respectively as a balance for collectible accounts. Allowance and amount recognized as bad debt as
of June 30,2025 are $193,333 and $7,655.07 respectively, and as of December 31, 2024, were $193,333 and $248,413 respectively. In 2024,
the Company implemented processes to be following ASC326.

As
of June 30, 2025, the debts of Hydro Flask c/o Helen of Troy (15.9%) and RS Integrated Supply Puerto Rico LLC (22.9%) were over 10% of
the total of the A/R. As of December 31, 2024, debts of Nebraska Public Power District (10.2%), Phillips66 (17%), Fisher & Paykel
Healthcare Ltd (13.9%) and New England Small Tube Corporation (19%), were over 10% of the total.

Advertising
Expenses

Marketing,
advertising and promotion expenditures are expensed in the annual period in which the expenditure is incurred.

Research
& Development Expenses

Research
& Development expenditures are expensed in the annual period in which the expenditure is incurred.

Stock
Based Compensation

The
Company accounts for stock-based payments in accordance with the provision of ASC 718, which requires that all share-based payments issued
to acquire goods or services, including grants of employee stock options, be recognized in the statement of operations based on their
fair values, net of estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary,
in subsequent periods if actual forfeitures differ from those estimates. Compensation related to share-based awards is recognized over