Company: LASE
Filing Date: 2025-12-23
Form Type: 10-Q
Source: 0001493152-25-028857
Chunk: 20

Company: Laser Photonics Corp
Filing Date: 2025-12-23
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 as well as for the Commitment Shares. This
loan has been settled in full refinancing with the Note Purchase Agreement dated September 12, 2025.

On
September 12, 2025, the Company entered into a Note Purchase Agreement (the “NPA”) with four holders pursuant to which it
issued to such holders certain unsecured promissory notes (the “Notes”). The Notes are (i) in the total principal amount
of $2,111,111.12 with an Original Issuance Discount (“OID”) equal to 10% that resulted in the Company receiving net proceeds
of $1,129,400 following deductions for expenses, including an 8% placement agency fee and 1% non-accountable allowance paid to RBW Capital
Partners LLC (“RBW”), a division of Dawson James Securities, Inc., under the terms of a Placement Agency Agreement dated
September 5, 2025, between the Company and RBW, and repayment of principal and accrued and unpaid interest of $509,600 owed to Hudson
Global Ventures, LLC (“Hudson Global”) under a convertible note in the principal amount of $455,000 issued under the term
of a Securities Purchase Agreement dated August 27, 2025, (ii) due the earlier of three (3) months from the dates of the Notes which
are all September 12, 2025, or in the event of a prior subsequent financing by the Company, the Notes at the option of the holder must
be repaid in full or, if applicable, are exchangeable into the consideration in the subsequent offering, (iii) subject to a payment in
the event of a default of 120% of the unpaid principal amount, accrued interest and all other amounts owing under the Notes, which amount
increases by 5% every 30 days following the date of the event of default until the Notes are paid in full (the “Mandatory Default
Amount”) and (iv) limited to prepayment only upon a change of control of the Company subject to payment of the Mandatory Default
Amount. As of September 30, 2025, the loan reflects an outstanding principal balance of $2,111,111.

Inventory

Inventories
are stated at a lower cost or net realizable value using the first-in-first-out (FIFO) method. The Company has five principal categories
of inventory:

Equipment
parts inventory - This inventory represents components and raw materials that are currently