Company: LASE
Filing Date: 2025-12-23
Form Type: 10-Q
Source: 0001493152-25-028857
Chunk: 19

Company: Laser Photonics Corp
Filing Date: 2025-12-23
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 payments of $94,500 commencing
July 16, 2025, and ending February 18, 2026, subject to payment of a $100,000 administrative agent fee paid to Agile Capital. The Loan
is secured by a blanket lien on the Company’s assets. The Loan may be prepaid subject to payment of prepayment fee equal to the
aggregate and actual amount of interest (at the contract rate of interest) that would be paid through the maturity date. As of September
30, 2025, the loan reflects an outstanding principal balance of $1,559,439 and interest of $425,061.

    10

On
August 28, 2025, the Company closed a convertible note financing with Hudson Global Ventures, LLC (“Hudson Global”). In connection
with this financing, the Company entered into a Securities Purchase Agreement (the “SPA”) with Hudson Global requiring that
the Company (i) issue 418,000 shares of its common stock as commitment shares (the “Commitment Shares”), (ii) issue a warrant
(the “Warrant”) for 157,258 shares of the Company’s common stock at a conversion price of $4.34 per share subject to
customary adjustments for fundamental corporate actions such as mergers, reverse splits and stock dividends, that is exercisable for
five years or that the Company must earlier pay the Event of Default Black Scholes Value as that term is defined in the Warrant if the
Company’s common stock is deemed “penny Stock” under SEC Rule 240.3a51-1, and (iii) issue a 12 month secured convertible
promissory note in the principal amount of $455,0000 (the “Convertible Note”) bearing annual interest of 12% to be repaid
through monthly amortization payments of $45,818 and that is convertible into shares of the Company’s common stock at a fixed price
of $4.34 per share, subject to customary adjustments for fundamental corporate actions such as mergers, reverse splits and stock dividends,
that can be prepaid within the first 60 days from August 27, 2025, without any penalty and after 60 days from August 27, 2025,at a payment
of 118% of the accrued and unpaid interest and unpaid principal of the Convertible Note. Under the terms of the SPA, Hudson Global has
piggyback rights for the conversion shares underlying the Warrant and the Convertible Note