Company: LASE
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001641172-25-024367
Chunk: 18

Company: Laser Photonics Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 18
---
000, and $2,000 respectively,
and a maturity date of May 31, 2025, June 30, 2025, and August 30, 2025, respectively. The balance of ICT loans as of June 30, 2025,
was $620,000.

On
June 27, 2025, the Company received a temporary advance of $30,000, listed as Deposit, from FONON Technologies Inc. to support short-term
liquidity needs. The advance was unsecured, non-interest bearing, and repayable on demand. The Company repaid the full amount to the
affiliate in the subsequent month.

This
transaction was conducted in the ordinary course of business and was settled in cash. No amounts related to this advance were outstanding
as of the reporting date.

Since
the date of incorporation on November 8, 2019, the Company has engaged in the following transactions with our directors, executive officers,
holders of more than 5% of its voting securities, and affiliates or immediately family members of its directors, executive officers,
and holders of more than 5% of our voting securities, and its co-founders. The Company believes that all these transactions were on terms
as favourable as could have been obtained from unrelated third parties.

NOTE
5 – COMMITMENTS AND CONTINGENCIES

In
October 2021, the Company entered a lease with Davis & Harrell, LLC on 18,000 SF In October 2023, the Company entered a lease
for an additional 8000 SF of office space adjacent to the original facility. In November 2024 was signed an Amendment to Lease Agreement
for extending the lease for both areas from December 2024 till December 2025. The combined monthly expense is $25,832.

In
December 2022, the Company entered into an agreement with 2701 Maitland Building Associates to rent 8,000
SF of additional office space near the main facility, for our growing sales and marketing program. In February 2025, a Lease
Termination Agreement was signed for ending the lease in July 2025. The termination fee for March, April, May, June and July will be
$14,912. As of June 30, 2025, the Company has paid the termination fees corresponding to the months of March, April and May,
2025.

In
October 2024, the Company entered into an agreement with SPI TCM TECHNOLOGY