Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 687

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 2
Chunk 687
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ISITION
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 Company’s Chief
Executive Officer and Principal Financial Officer concluded as of December 31, 2024 that the Company’s disclosure controls and
procedures were ineffective as the information required to be disclosed in the Company’s United States Securities and Exchange
Commission (the “SEC”) reports is recorded, processed, summarized and reported within the time periods specified in the
SEC rules and forms, and is accumulated and communicated to the Company’s management, including its Chief Executive Officer
and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Management’s
Annual Report on Internal Control over Financial Reporting

Based
on its evaluation under the framework in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring