Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 592

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1C
Chunk 592
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-use asset for operating leases, $434,153 as a current operating lease liability, and $
162,990 as a lease liability less the current portion.

On
July 1, 2024, we entered into a lease agreement for 48,481 square feet of office space at a base monthly rent of $ 50,354.42 with an
annual increase of 3%, that has a term of 10.5 years. The location of the facility is 250 Technology Park. Lake Mary, FL

Our
facility is currently equipped with three of our latest advanced laser cleaning demonstration models.

Upon
acquisition of Control Micro Systems in on October 31, 2024 we were in a month to month lease located at 4420 Metric Dr. Winter Park
Florida. The latest lease expired on June 21, 2024, prior to the acquisition of the business. The facility is 52,200 square ft total
at a cost of $27,700 per month. Discussions are underway with the existing landlord for a new lease, and we expect to finalize that in
the first half of 2025.  

The
following table provides the maturities of lease liabilities at December 31, 2024:

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

    Operating Lease  
    Remaining Term in Years 
  
    2025 
     1,116,277  

    2026 
     641,052  

    2027 
     660,284  

    2028 
     680,092  

    2029 
     700,495  

    2030 
     721,510  

    2031 
     743,155  

    2032 
     765,450  

    2033 
     788,413  

    2034 
     812,065  

    2035 
     418,214  

    Total lease payments 
     8,047,006  

    Less : Imputed interest 
     (3,030,599) 

    Present Value of Lease Liabiltiy 
     5,016,408  
     10.5 

NOTE
6 – SUBSEQUENT EVENTS

The
Company’s management has evaluated subsequent events up to March 31, 2025, the date the financial statements were issued, pursuant
to the