Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 247

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 247
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 $8,262,303 

We
anticipate spending an additional $3M over the next 2 years, to increase our sales and marketing efforts, as well as to increase our
manufacturing capacity. While doing so, we expect to return to profitability in 2025. Therefore, we anticipate minimal long-term liquidity
needs to support our organic growth, which we expect to achieve using the proceeds of our recent IPO, exclusively.

We
must fulfill all of the financial disclosure and reporting requirements of a public reporting company. Our management must spend additional
time on policies and procedures to ensure compliance with various regulatory requirements, especially that of Section 404 of the Sarbanes-Oxley
Act of 2002. The additional corporate governance required of management could limit the amount of attention management can afford to
our business plan, and therefore may delay our anticipated growth plans. Over the next 12 months, we anticipate the marginal cost of
being a public company to exceed $750,000.

Lease
Liability

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