Company: LASE
Filing Date: 2025-12-23
Form Type: 10-Q
Source: 0001493152-25-028857
Chunk: 33

Company: Laser Photonics Corp
Filing Date: 2025-12-23
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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    Accounts Payable/Other Liability 
     (10,549)
  
    Common Stock 
     (3,000)
  
    APIC 
     (8,397,000)
  
    Deemed Dividend for Common Control Acquisition 
    $(7,766,850)

During
the first nine months of 2025, the Company recorded total revenue of $791,992 from its affiliate, Fonon Technology Inc. The revenue recognition
has been realized according to ASC 606. The Company has entered into a service agreement with Fonon under which it is obligated to pay a fee equal to 6.5% for the use Fonon’s
system for award management and registration with the Federal Government As of the reporting date, the Company has accrued $40,412.06
related to the agreement.

Since
the date of incorporation on November 8, 2019, the Company has engaged in the following transactions with our directors, executive officers,
holders of more than 5% of its voting securities, and affiliates or immediately family members of its directors, executive officers,
and holders of more than 5% of our voting securities, and its co-founders. The Company believes that all these transactions were on terms
as favorable as could have been obtained from unrelated third parties.

NOTE
5 – COMMITMENTS AND CONTINGENCIES

In
October 2021, the Company entered a lease with Davis & Harrell, LLC on 18,000 SF In October 2023, the Company entered into a lease
for an additional 8000 SF of office space adjacent to the original facility. In November 2024 was signed an Amendment to Lease Agreement
for extending the lease for both areas from December 2024 till December 2025. The combined monthly expense is $25,832.

In
December 2022, the Company entered into an agreement with 2701 Maitland Building Associates to rent 8,000 SF of additional office space
near the main facility, for our growing sales and marketing program. In February 2025, a Lease Termination Agreement was signed for ending
the lease in July 2025. The termination fee for March, April, May, June and July were $14,912.

In
October 2024, the Company entered into an agreement with SPI TCM TECHNOLOGY PARK OWNER LLC to rent 46,481SF. The commencement date for
the base rent was January 1, 2025. The base