Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 176

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 176
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 stock.

On
October 18, 2023, we entered into a license agreement with an affiliated company, Fonon Technologies, Inc., which is majority-owned by
ICT Investments, for an exclusive, worldwide, nontransferable license for high power turbo piercing (“Cold Cutting”) laser
cutting technology and any improvements to such technology to allow us to manufacture, sell, export and import products incorporating
such technology in return for our paying a license fee of $350,000 in cash and a one-time grant of 1,000,000 restricted shares of our
common stock to ICT Investments.

ICT
Investments LLC currently owns approximately 31.13% of the outstanding shares of our common stock and Fonon Corporation currently owns
approximately 21.04% of the outstanding shares of our common stock, and collectively are our majority shareholders. Dmitriy Nikitin has
voting control of the Company through his ownership of all membership interests of ICT Investments, LLC which is the controlling entity
of Fonon Corporation and Fonon Technologies, Inc. On May 21, 2024 we entered into a license agreement with Fonon Corporation to receive
an exclusive, worldwide, sublicensable license to Fonon’s laser material processing equipment and technology, including all applications
of laser cutting, marking, engraving, laser welding, brazing, ablation, laser drilling, semiconductor chip marking, semiconductor and
flat panel display laser processing equipment, all other laser material processing equipment documented or existing in a form of knowhow
and/or trade secrets in return for 3,000,000 restricted shares of Laser Photonics common stock. ICT Investments, LLC, through its control
of Fonon Corporation and Fonon Technologies, Inc., in the aggregate, owns approximately _59.19_% of our common stock and will
have the voting power to decide all matters submitted to a vote of our shareholders, including the election of our directors. Through
our affiliation with ICT Investments, its portfolio companies and its customers, we have access to more than 1,500 high profile Fortune
5000 customer prospects as well as recognition as a global leader in manufacturing premium laser equipment. In addition, through the
expertise and reputation of our officers, Board members and advisors, we have the foundation of our technologically advanced, disruptive
laser systems specifically suited for most material processes with specific cleaning requirements and challenges.

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Table Of Contents

On
October 30, 2024, we entered into an Asset Purchase Agreement with Control