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

Company: Laser Photonics Corp
Filing Date: 2025-12-23
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 income tax expense. However, investors have observed
that there has been limited information reported about a segment’s expenses. The analysis of the company after acquisition of CMS
concluded that we have only one segment and according to this, the results will be disclosed consolidated.

Going
Concern

The
Company has not earned sufficient revenue since its inception and has sustained operating losses during the quarter ending September
30, 2025, mainly due to investments in its sales and marketing departments. The Company had sufficient working capital as of December
31, 2024. However, the Company’s continuation as a going concern is dependent on its ability to generate additional cash flow from
operations to meet its obligations and/or obtain additional financing, as may be required. There is substantial doubt about the ability
of the Company to continue as a going concern.

Our
principal executive offices are located at 1101 N. Keller Rd., Suite G, Orlando, Florida 32810, and our telephone number is (407) 804-1000.
Our corporate website is https://laserphotonics.com.

NOTE
2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES & USE OF ESTIMATES.

The
accompanying unaudited condensed financial statements and notes of Laser Photonics Corporation (the “Company”) are presented
in United States dollars and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S.
GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial
information. Accordingly, those do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.
These financial statements should be read in conjunction with the financial statements, notes and significant accounting policies included
in our Annual Report on Form 10-K for the year ended December 31, 2024.

Given
the nature of the revenue recognition process, the Company generates contract liabilities to the extent that a customer pays on project
progress before the company fulfills its performance obligations under a contract or contract assets to the extent that the Company has
earned by satisfying performance obligations but has not yet billed the customer. Contract assets represent a right to receive payment
in the future once certain conditions are met per the terms of the contract. The balance of contract asset and liabilities as of 9/30/25
were $462,160 and $1,552,846, respectively, and as of 12/31/24 were $759,658