Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 827

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 4
Chunk 827
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 pay
a monthly termination fee of $14,912.14 base rent plus operating expenses for five months, saving us approximately $80,000 in lease payments
for 2025.

On
July 1, 2024, we entered into a lease agreement for 48,481 square feet of office space at a base monthly rent of $ 50,354.42
with an annual increase of 3%, that has a term of 10.5 years. The location of the facility is 250 Technology Park. Lake Mary,
FL

Our
facility is currently equipped with three of our latest advanced laser cleaning demonstration models.

Upon
acquisition of Control Micro Systems in on October 31, 2024 at 4420 Metric Dr. Winter Park Florida. The lease expires on October 31,
2025. The facility is 52,200 total square ft at a cost of $27,700 per month.

48

Off-Balance
Sheet Arrangements

As
of December 31, 2024, we have not entered any off-balance sheet arrangements that have or are reasonably likely to have a current or
future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources and would be considered material to investors.

Legal
Proceedings

We
expect from time to time to be the subject of various claims, lawsuits and other legal and administrative proceedings arising in the
ordinary course of business. As of the date of this report we have not subject to any legal threats, proceedings or lawsuits of any nature.

Critical
Accounting Policies and Estimates

The
preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”)
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses.

Our
financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles
applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting
periods.

We
regularly evaluate the accounting policies and estimates that we use to prepare our financial statements.