Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 264

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 264
---
 of Period 
    $533,871  
    $6,201,137 
  
    NON-CASH INVESTING AND FINANCING ACTIVITIES 

    Right of use property Lease 
     (4,755,728) 
     - 
  
    Shares issued on conversion of debt 
     -  
     - 
  
    Transfer demo inventory to PPE 
     507,931  
     - 
  
    Share issued for purchase of license 
     6,615,000  
     1,210,000 
  
    Treasury stock adjustment 
     (8,570) 
     - 
  
    Common Stock issued for cashless exercise of warrants 
     62  
     - 
  
    SUPPLEMENTARY CASH FLOW INFORMATION 

    Cash Received / Paid During the Period for: 

    Income Taxes 
     -  
     - 
  
    Interest 
     -  
     39,509 

See
accompanying notes to financial statements.

F-6

NOTES
TO FINANCIAL STATEMENTS DECEMBER 31, 2023, and 2024

NOTE
1 – ORGANIZATION AND DESCRIPTION OF BUSINESS

Laser
Photonics Corporation (the “Company”) was formed under the laws of Wyoming on November 8, 2019, and changed its domicile
to Delaware on March 5, 2020. The Company is a vertically integrated manufacturing company for photonics based industrial products and
solutions, primarily disruptive laser cleaning technologies. Its vertically integrated operations allow us to reduce development and
advanced laser equipment manufacturing time, offer better prices, control quality, and protect our proprietary knowhow and technology
compared to other laser cleaning companies and companies with competing technologies.

The
recently acquired Control Micro Systems was purchased by the Company on October 31, 2024. The company is 100% owned by Laser Photonics
Corporation.

The Company’s accounting year end is December 31.

Going
Concern

The
Company has not earned sufficient revenue since inception and has sustained operating losses during the year ended December 31, 2024
and the year ended December 31, 2023 mainly due to investments in its sales and marketing departments. The Company had sufficient
working capital as of December 31, 2023. However, the Company’s continuation as a going concern is dependent on its ability to