Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 216

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 216
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 we may take advantage of certain scaled disclosures available to us, resulting
in holders of our securities receiving less Company information than they would receive from a public company that is not a smaller reporting
company.

We
are a “smaller reporting company” as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
As a smaller reporting company, we may take advantage of certain of the scaled disclosures available to smaller reporting companies and
will be able to take advantage of these scaled disclosures for so long as (i) our common shares held by non-affiliates is less than $250
million measured on the last business day of our second fiscal quarter, or (ii) our annual revenue is less than $100 million during the
most recently completed fiscal year and our common shares held by non-affiliates is less than $700 million measured on the last business
day of our second fiscal quarter. To the extent we take advantage of any reduced disclosure obligations, it may make it harder for investors
to analyze the Company’s results of operations and financial prospects in comparison with other public companies.

As
a smaller reporting company, we are permitted to comply with scaled-back disclosure obligations in our SEC filings compared to other
issuers, including with respect to disclosure obligations regarding executive compensation in our periodic reports and proxy statements.
We have elected to adopt the accommodation available to smaller reporting companies. Until we cease to be a smaller reporting company,
the scaled-back disclosure in our SEC filings will result in less information about our company being available than for other public
companies.

Our
largest stockholder beneficially owns a significant number of shares of our common stock. That stockholder’s interests may conflict
with other stockholders, who may be unable to influence management and exercise control over our business.

ICT
Investments, via common control of Fonon Corporation and Fonon Technologies combined owns 59.19% of our shares of common stock. As a
result, ICT Investments is able to: place, elect, or defeat the election of our directors; amend or prevent amendment to our certificates
of incorporation or bylaws; effect or prevent a merger, sale of assets or other corporate transaction; drive business decisions and control
expenditures; and control the outcome of any other matter submitted to the stockholders for vote. Accordingly, other stockholders are
unable to influence management or exercise control over our business.

29

We
do not intend to pay cash dividends to our stockholders.

We
paid a one