Company: LASE
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001641172-25-024367
Chunk: 11

Company: Laser Photonics Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 ICT Investments, the owner of the majority of
outstanding shares of the Company’s common stock, an unsecured loan in the principal amount of $200,000,
an unsecured loan in the principal amount of $400,000,
and unsecured loan in the principal amount of $20,000 respectively, to assist Laser Photonics in meeting certain expenses, including
payroll. Laser Photonics issued promissory notes for each of these loans, with interest at $20,000, $40,000,
and $2,000
respectively, and a maturity date of May
31, 2025, June
30, 2025, and August 30, 2025, respectively. The balance of ICT loans as of June 30, 2025, was $620,000.

On February 13, 2025, the Company entered into a Business Loan and Security Agreement dated February 13, 2025 (the
“Loan Agreement”) among Agile Capital Funding, LLC (“Agile Capital”), Agile Lending, LLC (“Agile Lending”)
and the Company’s subsidiary, Control Micro Systems Florida, LLC, under which the Company issued a Confessed Judgment Promissory
Note for a term loan in the principal amount of $1,050,000 to be repaid through weekly principal and interest payments of $54,000 commencing
February 24, 2025, and ending September 1, 2025, subject to payment of a $50,000 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. 

On
April 25, 2025, Laser Photonics Corporation (the “Company” or “Laser Photonics”) entered into a Business Loan
and Security Agreement dated April 25, 2025 (the “Loan Agreement”) among Agile Capital Funding, LLC (“Agile Capital”),
Agile Lending, LLC (“Agile Lending”) the Company and its subsidiary, Control Micro Systems Florida, LLC, under which the
Company issued a Confessed Judgment Promissory Note for a term loan in the principal amount of $1,500,000
to be repaid through weekly principal and interest payments
of $72,000
commencing May