Company: LASE
Filing Date: 2025-12-23
Form Type: 10-Q
Source: 0001493152-25-028857
Chunk: 32

Company: Laser Photonics Corp
Filing Date: 2025-12-23
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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2025, and September 12, 2025, respectively. The unpaid principal balance of
ICT loans as of September 30, 2025, was $751,000. The unpaid interest balance of ICT loans as of September 30, 2025, was $75,000.

On
August 5, 2025, Laser Photonics Corporation (the “Company” or “Laser Photonics”) entered into an Asset Purchase
Agreement (the “APA”) with Fonon Quantum Technologies, Inc. (“FQTI”), an affiliate of ICT Investments, LLC, the
Company that together with its affiliates has voting control of Laser Photonics, to acquire the assets of Beamer Laser Marking Systems
(“Beamer”), the laser capital equipment manufacturing division of ARCH Cutting Tools, Inc, a Michigan corporation. Beamer
manufactures IR fibre laser marking systems that provide standard, engineered and inline 1064nm IR laser marking solutions for a variety
of industries used in tracking and traceability to serialization, 2D codes and decorative marking. Under the terms of the APA, Laser
Photonics agreed to issue 3,000,000 restricted shares of its common stock as payment for the Beamer net assets. including its intellectual
property, and all contracts. The foregoing description of the APA is qualified in its entirety by reference to the full text of that
agreement, a copy of each of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Because
the transaction was between entities under common control (ICT Investments controls both the Company and FQTI), the acquisition will
be accounted for in accordance with ASC 805-50 (“Transactions Between Entities Under Common Control”). Accordingly, the
Beamer assets will be recognized at their historical carrying amounts rather than at fair value, and no goodwill will be recorded.
Comparative prior-period financial statements will not be restated. See Table below that shows Total Assets, Liabilities and Common
Stock acquired for Common Control.

SCHEDULE
OF TOTAL ASSETS, LIABILITIES AND COMMON STOCK ACQUIRED  

    Laser Photonics Acquisition Date 8/5/2025 

    Description 
    Amount 
  
    Assets 
    $  
  
    Accounts Receivable/Other Receivable 
     1,524 
  
    Inventory 
     573,537 
  
    PP&E 
     68,638 
  
    Liabilities and Stockholder Equity