Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 823

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 4
Chunk 823
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 during periods
in which we underutilize manufacturing capacity.

The Company contracted with a third party
to test impairment of their intangible assets. After the evaluation was completed, the company recognized an impairment of $932,669 based
on the third parties report.

Operating
Expenses

Operating
expenses for the year ended December 31, 2024, were $ 7,944,389 as compared to $ 6,246,011 for the year ended December 31, 2023, representing
an increase of $ 1,698,378. The following table summarizes the significant changes in operating expenses for the years ended December 31,
2024, and 2023

    Year Ended December 31, 

    2024  
    2023 
  
    Operating Expenses: 

    Sales & Marketing 
    $1,561,506  
    $1,996,363 
  
    General & Administrative 
     2,790,543  
     2,123,058 
  
    Depreciation & Amortization 
     972,135  
     523,380 
  
    Payroll Expenses 
     1,430,840  
     1,400,951 
  
    Impairment 
     932,669  

    Research and Development Cost 
     261,911  
     202,259 
  
    Total Operating Expenses 
    $7,944,389  
    $6,246,011 

We
expect recurring selling expenses to increase in the near term to support the planned growth of our business as we expand our sales and
marketing efforts. In the future, we expect selling, general, and administrative expenses to decline as a percentage of net sales, as
our net sales grow beyond the fixed costs of the business.

46

Net
Loss (Income)

Net
loss for the year ending December 31, 2024, was $ 2,518,827 compared to $ 3,318,171 for the year ended December 31, 2023.
We have spent much of the last two years assembling people and equipment necessary to increase sales and production levels. While our
revenue levels increased, our expenses also increased. That coupled with the additional expenses associated with being a public company
and our research and development efforts for our new generation of laser blasting equipment, resulted in a net loss for 2024. With these
investments,