Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 404

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1A
Chunk 404
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y Nikitin is the Managing Partner of ICT Investments and has controlled the Company since its inception. As of the
end of 2023 the % is 58.7.%, considering the shares owned by Fonon Corporation and Fonon Technology.

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 favorable as could have been obtained from unrelated third parties.

In
October 2020, the Company issued a promissory note 2 to ICT Investments in the principal amount of $745,438 bearing 6% annual interest
with a maturity date of December 31, 2023. This Note was paid in full as of December 31, 2022.

In
September 2022, the Company issued a promissory note to ICT Investments in the principal amount of $100,000 bearing 10% annual interest
with a maturity date of September 29, 2023. This note was paid in full as of December 31, 2022.

In
April 2023, company issued former CFO 25,000 shares upon departure from the Company.  

In
October 2023 were issued and transferred 1,000,000
shares to Fonon Technologies Incorporated. In
addition, PPE including a Printer, working van, and computer and furniture of $254,327.84
and $900,000
of services were transferred to Fonon in support
of this transaction. The total amount of $1,240,000
was distributed in the Equity statement.

On May 21, 2024 3,000,000 of Common stock
were issued and transferred to Fonon Corporation in exchange for licenses for all commercial and noncommercial applications of Fonon Corp
for laser cutting, marking, engraving, welding, semiconductor applications and flat panel display. The stock was valued at its fair-market
value of $6,615,000 and recorded as a deemed dividend.

During
the years ending December 31, 2024, and 2023, the Company paid $30,047 and $108,268, respectively, to Dmitriy Nikitin