Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 593

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1C
Chunk 593
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 requirements of ASC 855 and has the following events to report.

On
January 22, 2025 as a condition of the acquisition of Control Micro Systems Laser Wind Down, Inc was issued 18,692 shares of our common
stock

On
March 6, 2025 Sanjay Adhav issued 65,000  shares of Laser Photonics common stock through affiliate company Fonon Technologies as
part of Fonon Corp acquisition of Quantum Technologies.

NOTE
7 – Restatement of Financials 2023

RESTATEMENT
OF FINANCIALS 2023

As
a result of the Company’s predecessor auditor, Fruci & Associates II, PLLC (“Fruci”), identifying an adjusting
entry that Fruci had proposed and that was posted by the Company that overstated deferred revenue and needed to be corrected.

SCHEDULE OF RESTATEMENT OF FINANCIALS

    Restatement  

    Balance Sheet 
    As Filed  
    Adjustments  
    As Restated 
  
    Assets 

    Cash and cash equivalent 
    $6,201,137  
    $0  
    $6,201,137 
  
    Accounts receivable, net 
    $816,364  
    $0  
    $816,364 
  
    Inventory 
    $2,277,816  
    $-40,360  
    $2,237,456 
  
    Other Assets 
    $39,190  
    $0  
    $39,190 
  
    Total current assets 
    $9,334,507  
    $0  
    $9,294,147 
  
    PP&E 
    $952,811  
    $0  
    $952,811 
  
    Intangible Assets Net 
    $4,279,986  
    $0  
    $4,279,986 
  
    Operating Lease Right of Use Asset 
    $597,143  
    $0  
    $597,143 

    Total assets 
    $15,164,447  
    $-40,360  
    $15,124,087 

    Liabilities 

    Current Liabilities 

    Accounts payable 
    $223,040  
    $0  
    $223,040 
  
    Deferred revenue 
    $701,234  
    $-488,120