Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 220

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 220
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 that our disclosure controls and procedures are effective in ensuring that material
information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and
reported within the time periods specified in SEC’s rules and forms. We may need to hire additional financial reporting, internal
controls and other financial personnel to develop and implement appropriate internal controls and reporting procedures. As a result,
we will incur significant legal, accounting and other expenses. Furthermore, the need to establish the corporate infrastructure demanded
of a public company may divert management’s attention from implementing our growth strategy, which could prevent us from improving
our business, results of operations and financial condition. We have made, and will continue to make, changes to our internal controls
and procedures for financial reporting and accounting systems to meet our reporting obligations as a public company. However, the measures
we take may not be sufficient to satisfy our obligations as a public company. In addition, we cannot predict or estimate the amount of
additional costs we may incur to comply with these requirements. We anticipate that these costs will materially increase our sales, general
and administrative expenses.

31

Public
company compliance may make it more difficult to attract and retain officers and directors.

The
Sarbanes-Oxley Act and rules implemented by the SEC have required changes in corporate governance practices of public companies. As a
public company, these rules and regulations increase our compliance costs and make certain activities more time-consuming and costly.
As a public company, these rules and regulations may make it more difficult and expensive for us to maintain our director and officer
liability insurance and we may be required to accept reduced policy limits and coverage or incur substantially higher costs to obtain
the same or similar coverage. As a result, it may be more difficult for us to attract and retain qualified persons to serve on our Board
of Directors or as executive officers, and to maintain insurance at reasonable rates, or at all.

If
we fail to establish and maintain an effective system of internal controls, we may not be able to report our financial results accurately
or prevent fraud. Any inability to report and file our financial results accurately and timely could harm our reputation and adversely
impact the trading price of our common stock.

Effective
internal controls are necessary for us to provide reliable financial reports and prevent fraud. There exist material weaknesses in our
internal controls as of December 31, 2024. If we cannot provide reliable financial reports or prevent fraud, we may not be able to manage
our business