Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 951

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 5
Chunk 951
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ASE LIABILITIES

    Operating Lease  
    Remaining Term in Years 
  
    2025 
     1,116,277  

    2026 
     641,052  

    2027 
     660,284  

    2028 
     680,092  

    2029 
     700,495  

    2030 
     721,510  

    2031 
     743,155  

    2032 
     765,450  

    2033 
     788,413  

    2034 
     812,065  

    2035 
     418,214  

    Total lease payments 
     8,047,006  

    Less : Imputed interest 
     (3,030,599) 

    Present Value of Lease Liabiltiy 
     5,016,408  
     10.5 

NOTE
6 – SUBSEQUENT EVENTS

The
Company’s management has evaluated subsequent events up to March 31, 2025, the date the financial statements were issued, pursuant
to the requirements of ASC 855 and has the following events to report.

On
January 22, 2025 as a condition of the acquisition of Control Micro Systems Laser Wind Down, Inc was issued 18,692 shares of our common
stock

On
March 6, 2025 Sanjay Adhav issued 65,000  shares of Laser Photonics common stock through affiliate company Fonon Technologies as
part of Fonon Corp acquisition of Quantum Technologies.

NOTE
7 – Restatement of Financials 2023

RESTATEMENT
OF FINANCIALS 2023

As
a result of the Company’s predecessor auditor, Fruci & Associates II, PLLC (“Fruci”), identifying an adjusting
entry that Fruci had proposed and that was posted by the Company that overstated deferred revenue and needed to be corrected.

SCHEDULE OF RESTATEMENT OF FINANCIALS

    Restatement  

    Balance Sheet 
    As Filed  
    Adjustments  
    As Restated 
  
    Assets 

    Cash and cash equivalent 
    $6,201,137  
    $0  
    $6,201,137 
  
    Accounts receivable, net 
    $816,364  
    $0