Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 415

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1A
Chunk 415
---
 There will be an emphasis
on improving controls over affiliate transactions and equity transactions. Controls identified as ineffective:

    ●
    System
of internal controls failed to identify multiple journal entries that were identified by the external auditor
  
    ●
    Lack
of formal control process related to the identification and approval of related party transactions
  
    ●
    We
are not able to fully maintain segregation of duties within our financial operations due to our reliance on limited personnel in the
finance function
  
    ●
    As
a smaller company we lack sufficient resources to perform the internal audit function
  
    ●
    Documentation
of all proper accounting procedures is not yet complete.

This
annual report does not include an attestation report of the Company’s registered public accounting firm regarding internal control
over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant
to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which permanently exempts non-accelerated filers from complying with
Section 404(b) of the Sarbanes-Oxley Act of 2002.

Attached
as exhibits to this Form 10-K are certifications of Laser Photonics’ Chief Executive Officer (“CEO”) and Principal
Financial Officer (“CFO”), which are required in accordance with Rule 13a-14 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”). This “Controls and Procedures” section includes information concerning the controls and
controls evaluation referred to in the certifications.

ITEM
9B. OTHER INFORMATION

None

ITEM
9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

None.

52

PART
III

ITEM
10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

MANAGEMENT

The
following table sets forth information for our executive officers and directors as of June 23, 2024.

    Name
     
    Age
     
    Position
  
    Wayne
    Tupuola
     
    64
     
    President,
    Chief Executive Officer and Chairman of the Board
  
    Carlos
    Sardinas
     
    43
     
    Chief
    Financial Officer
  
    John
    Amstrong
     
    64
     
    Vice
    President Executive
  
    Gennady
    Korotkov 
     
    68
     
    Vice
    President of Operations
  
    Igor
    Vodopiyanov