Company: LASE
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001641172-25-024367
Chunk: 6

Company: Laser Photonics Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 beginning after December 15, 2024. ASU 2023-07 enhances segment reporting under Topic 280 by
expanding the breadth and frequency of segment disclosures. Its amendments fall into the following categories. Topic 280 requires a public
entity to disclose entity-wide and segment information in the notes to financial statements. This includes the measure of profit or loss
that the CODM uses to assess segment performance and decide how to allocate resources, as well as certain specified amounts included
in that measure – e.g. revenue, depreciation and amortization, interest and income tax expense. However, investors have observed
that there has been limited information reported about a segment’s expenses. The analysis of the company after acquisition of CMS
concluded that we have only one segment and according to this, the results will be disclosed consolidated.

Going
Concern

The
Company has not earned sufficient revenue since its inception and has sustained operating losses during the quarter ending June 30, 2025,
mainly due to investments in its sales and marketing departments. The Company had sufficient working capital as of December 31, 2024.
However, the Company’s continuation as a going concern is dependent on its ability to generate additional cash flow from operations
to meet its obligations and/or obtain additional financing, as may be required. There is substantial doubt of the ability of the Company
to continue as a going concern

Our
principal executive offices are located at 1101 N. Keller Rd., Suite G, Orlando, Florida 32810, and our telephone number is (407) 804-1000.
Our corporate website is https://laserphotonics.com.

NOTE
2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES & USE OF ESTIMATES.

The
accompanying unaudited condensed financial statements and notes of Laser Photonics Corporation (the “Company”) are presented
in United States dollars and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S.
GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial
information. Accordingly, those do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.
These financial statements should be read in conjunction with the financial statements, notes and significant accounting policies included
in our Annual Report on Form 10-K for the year ended December 31, 2024.

Given
the nature of the revenue recognition process, the company generates contract