Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 564

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1C
Chunk 564
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 2 and 8 to the consolidated financial statements, the Company acquired an entity during 2024 accounted for as business
combinations, which required assets and liabilities assumed to be measured at their acquisition date fair values. Additionally, the Company
has other intangible assets from previous years activities. At each reporting period, certain intangible assets are required to be assessed
annually for impairment based on the facts and circumstances at that time. Auditing management’s evaluation of intangible assets
can be a significant judgment given the fact that the Company uses management estimates on future revenues and expenses which are not
easily able to be substantiated.

Given
these factors and due to significant judgements made by management, the related audit effort in evaluating management’s judgments
in evaluation of intangible assets required a high degree of auditor judgment.

The
procedures performed included evaluation of the methods and assumptions used by the Company, tests of the data used and an evaluation
of the findings. We evaluated and tested the Company’s significant judgments that determine the valuation of and impairment evaluation
of intangible assets.

/s/
M&K CPAS, PLLC

www.mkacpas.com

We
have served as the Company’s auditor since 2024.

The
Woodlands, Texas

June
24, 2025

F-1

Table of Contents

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Board of Directors and Shareholders of Laser Photonics Corporation

Opinion
on the Financial Statements

We
have audited the accompanying balance sheets of Laser Photonics Corporation (“the Company”) as of December 31, 2023 and 2022,
and the related statements of operations, stockholders’ equity (deficit), and cash flows for each of the years in the two-year
period ended December 31, 2023, and the related notes (collectively referred to as the financial statements). In our opinion, the financial
statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022 and the results
of its operations and its cash flows for each of the years in the two-year period ended December 31, 2023, in conformity with accounting
principles generally accepted in the United States of America.

As
discussed in Note 7 to the financial statements, the financial statements have been revised to incorporate changes related to the correction
of an error.

Going
Concern