Company: LASE
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001641172-25-024367
Chunk: 13

Company: Laser Photonics Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 in process until sales ready items are compete when it is moved to finished goods inventory.
Amounts in this account represent items at various stages of completion at the date of these financial statements.

Finished
goods inventory - Finished goods inventory consists of purchased inventory that were fully manufactured, assembled or in saleable
condition. Finished goods inventory is comprised of items that are complete and ready for commercial application without further cost
other that delivery and setup. Finished goods inventory includes demo and other equipment, lasers, software, machines, parts or assemblies.

As of June 30, 2025, and December 31, 2024, respectively, our inventory consisted of the following:

 SCHEDULE OF INVENTORY

    As of June 30,  
    As of December 31, 
  
    Inventory 
    2025  
    2024 

     (Unaudited)  
     (Audited) 
  
    Equipment Parts Inventory 
    $1,614,061  
    $1,820,347 
  
    Finished Goods Inventory 
     550,324  
     999,100 
  
    Work in process Inventory 
     88,890  
     295,950 
  
    Inventory Reserve 
     (776,638) 
     (776,638)
  
    Total Inventory 
    $1,476,637  
    $2,338,759 

Fixed
Assets - Plant Machinery and Equipment

Property
and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance,
and repairs are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the cost and accumulated
depreciation are removed from the accounts, and any resulting gain or loss is included in the results of operations for the respective
period.

Machinery
and Equipment

Depreciation
is provided over the estimated useful lives of the related assets using the straight-line method for financial statement purposes. The
Company uses other depreciation methods (generally accelerated) for tax purposes where appropriate. The estimated useful lives for significant
property and equipment categories are as follows:

 SCHEDULE OF ESTIMATED USEFUL LIVES FOR SIGNIFICANT PROPERTY AND EQUIPMENT

    Category
     
    Economic
    Useful
    Life
  
    Office
    furniture and fixtures
     
    3-5
    years
  
    Machinery
    and equipment
     
    5-7