Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 1075

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 8
Chunk 1075
---
 opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit
matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

Revenue
Recognition – Refer to Note 2 to the financial statements

Description
of the Critical Audit Matter

The
Company has material revenue with a revenue recognition policy in which determining when the performance obligation has been settled
and obtaining appropriate and sufficient audit evidence took significant audit effort.

How
the Critical Audit Matter was Addressed in the Audit

    ●
    Reviewed
    the Company’s assessment of its revenue recognition policy, independently assessing the Company’s conclusion that it
    is consistent with the principles of ASC 606: Revenue from Contracts with Customers. Traced significant considerations through to
    the Company’s disclosure of its related accounting policy.

    ●
    Testing
    of a sample of revenue transactions, including sending confirmations, encompassing transactions near year end, to determine the product
    has been shipped and recorded in the appropriate period.

Allowance
for Uncollectible Accounts – Refer to Note 2 to the financial statements

Description
of the Critical Audit Matter

The
Company has material accounts receivable for which assessing the potential collectability of accounts may include subjective and potentially
complex considerations from management, as well as requiring high degrees of auditor judgment to assess the appropriateness of the audit
evidence to support the Company’s assessment.

How
the Critical Audit Matter was Addressed in the Audit

    ●
    Tested
    subsequent collections for a selection of accounts receivable balances, including both material and immaterial account balances at
    year end.

    ●
    Confirmed
    a selection of accounts receivable, including immaterial balances, to determine the completeness and accuracy of accounts receivable
    balances.

Fruci
& Associates II, PLLC – PCAOB ID #05525

We
have served as the Company’s auditor since 2023.

Spokane,
Washington

April
16, 2024, except for certain items disclosed in Note 7, as to which the date is August 27, 2024.

F-2

Table of Contents

LASER
PHOTONICS CORPORATION.

Consolidated Balance
Sheets as of December 31, 2024, and 2023

    As
                                            of
                                                                                                  December
                                            31, 2024
                                                                                (Audited)