Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 670

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 2
Chunk 670
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 to its fair value based on the present value of estimated future cash flows.

Sales
Tax Liability

Sales
tax liability is created when the Company sells equipment and services to another entity located in the State of Florida.
Currently the sales tax rate in the Company’s County of Business is 6.5%. As of December 31, 2024, we had $1,031 sales tax liability
as compared to $106 recorded on December 31, 2023.

Accounts
Payable

Accounts
payable consist of short-term liability to our vendors and sub-contractors, who extend credit terms to the Company or deliver goods
or services with delayed payment terms. As of December 31, 2024, and December 31, 2023, our accounts payable were recorded at $559,256
and $223,040,
respectively. As of December 31, 2024, we had an accounts
payable balance of $27,988 to a related party.

Deferred
Revenue

Deferred
Revenue is primarily comprised of amounts collected from customers for product or obligation that has not been fulfilled. As of December
31, 2024, the Company had $337,815,
and December 31, 2023, had $213,114.

Long-Lived Assets

Long-lived assets are reviewed for impairment whenever
events or changes in circumstances indicate that the carrying value may not be recoverable. Impairment is measured by comparing the carrying
value of the long-lived assets to the estimated undiscounted future cash flow expected to result from use of the assets and their ultimate
disposition. In instances where impairment is determined to exist, the Company writes down the asset to its fair value based on the present
value of estimated future cash flows.

Earnings/(Loss)
per Share

Basic
earnings/(loss) per share is calculated by dividing the earnings/(loss) attributable to stockholders by the weighted-average number of
shares outstanding for the period. Diluted earnings/(loss) per share reflects the potential dilution that could occur if securities or
other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that
shared in the earnings/(loss) of the Company. Diluted earnings/(loss) per share is computed by dividing the earnings/(loss) available
to stockholders by the weighted average number of shares outstanding for the period and dilutive potential shares outstanding unless
such dilutive potential shares would result in anti-dil