Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 226

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 226
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 delegated the quarterly assessments and management
of cybersecurity risks to the Audit Committee.

Our
IT Manager and our IT Administrator oversee our information security program and lead our information security team. Our IT Manager has
primary responsibility for assessing and managing our cybersecurity threat management program, informed by over ten years of experience
leading cross-functional organizations in the development and operation of large-scale systems.

35

Our
IT Manager reports quarterly to the Audit Committee of the Board of Directors on the information   security program and related
cyber risks and provides an annual update to the Board of Directors on the Company’s overall risk management strategy, which includes
addressing cybersecurity risks. Any cybersecurity incidents at the Company are reported to the Audit Committee by the IT Manager.

ITEM
2. PROPERTIES

On
December 1, 2019, we entered a sub-lease with ICT Investments for 5,000 sf of manufacturing space on a month-to-month basis at $4,050
per month. In January 2020, we expanded the lease with ICT Investments to include the entire facility of 18,000 sf. In October 2021,
we signed a direct lease with the landlord for three years, terminating on October 31, 2024. The monthly rent for this facility is currently
$15,549.

In
December 2022, we entered into an agreement with 2701 Maitland Building Associates to rent 8,000 sf of additional office space nearby
the main facility, for our growing sales and marketing program. The monthly rent for this space is currently $14,805. On July 1, 2024,
we determined that we did not need this facility for our future growth and, since we could not sublet this space, we entered into the
Lease Termination Agreement to reduce our lease expense. Under the terms of the Lease Termination Agreement, we agreed to pay a monthly
termination fee of $14,912.14 base rent plus operating expenses for five months, saving us approximately $80,000 in lease payments for
2025.

On
July 1, 2024, we entered into a lease agreement for 48,481 square feet of office space at a base monthly rent of $ 50,354.42
with an annual increase of 3%, that has a term of 10.5 years.

Upon
acquisition of Control Micro Systems in on October 31, 2024 at 4420 Metric Dr. Winter Park Florida. The lease expires