Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 288

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 288
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 stock to the previous owner. Control Micro Systems was a distressed company that was in federal bankruptcy
court beginning March of 2024. Through the courts Laser Photonics was able to acquire this business below the value of the assets free
and clear of the previous liabilities.

The
company contracted a third-party expert to evaluate the potential gain or loss from the purchase of these assets. The third party
determined the value of the assets was worth more than the purchase price. Based on the report from the third party the fair value
of the assets exceeds the purchase price resulting in a gain of $3,858,000. This has been recognized and is reflected in the company’s financial statements.

SCHEDULE
OF ACQUISITION
WITH PURCHASE PRICE ALLOCATION

    Year Ended on 
October 31, 

    2024 (Audited) 

    Purchase Price : 

    Cash for acquisition 
    $950,000 
  
    100,000 in common stock shares 
     100,000 
  
    Total Purchase consideration 
    $1,050,000 

    Purchase Price Allocation 

    Cash 
     324,918 
  
    Accounts Receivable 
     618,794 
  
    Inventory 
     938,335 
  
    Prepaid expenses 
     34,279 
  
    Fixtures and Equipment 
     672,082 
  
    Intangibles 
     2,468,000 
  
    Goodwill/Bargain Purchase gain 
     (3,857,999)
  
    Accrued expenses 
     (48,207)
  
    Deferred revenue 
     (100,203)
  
    Total 
    $1,050,000 

F-18

ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM
9A. CONTROLS AND PROCEDURES

Evaluation
of Disclosure Controls and Procedures

Under
the supervision and with the participation of the Company’s management, including its Chief Executive Officer and Principal
Financial Officer, the Company conducted an evaluation of the effectiveness of the Company’s disclosure controls and
procedures, as defined in Rule 13a−15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange
Act”), as of the end of the period covered by this annual report. Based on this evaluation, the