Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 188

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 188
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 of regulatory requirements.

CE
Marking

We
are subject to certain regulations in Europe as administered by the European Commission. CE Marking is required for products marketed
within the European Economic Area (EEA) and confirms that the manufacturer meets certain safety, health and environmental protection
requirements administered by the European Union. Non-compliance with these regulations could result in warnings, penalties, or fines.
We believe that we are currently in compliance with these regulations.

United
States Food and Drug Administration

Certain
products manufactured by us are integrated into systems by our customers that are subject to certain regulations administered by the
United States Food and Drug Administration. We must comply with certain quality control measurements for our products to be effectively
used in our customers’ end products. Non-compliance with quality control measurements could result in loss of business with our
customers, fines and penalties.

Facilities

On
December 1, 2019, we entered a sub-lease with ICT Investments for 5,000 sf of manufacturing space on a month-to-month
basis at $4,050 per month. In January 2020, we expanded the lease with ICT Investments to include the entire facility of 18,000 sf.
In October of 2021, a direct lease was signed with the landlord for three years, terminating on October 31, 2024. In November we
entered into a lease amendment that expires December 31, 2025. The facility is currently equipped with three of our latest advanced
laser cleaning demonstration models. It includes a materials stock room, a ramp and high dock, loading and moving equipment, a
machine shop, an electronics room, and an equipment assembly area. The monthly rent for this facility is currently
$15,549.

In
December 2022, we entered into an agreement with 2701 Maitland Building Associates to rent 8,000 sf of additional office space nearby
the main facility, for our growing sales and marketing program. The monthly rent for this space is currently $14,805. On February 10,
2025, we entered into a Lease Termination Agreement with 2701 Maitland Building Associates, LLC, the Landlord of Suite 125 containing
approximately 7,981 rentable square feet that Laser Photonics had leased from November 7, 2022 through December 31, 2025, at a base monthly
rent of $14,818.06 (“Suite 125”). In light of our entering into a