Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 279

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 279
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 departure from the Company.  

In
October 2023 were issued and transferred 1,000,000
shares to Fonon Technologies Incorporated. In
addition, PPE including a Printer, working van, and computer and furniture of $254,327.84
and $900,000
of services were transferred to Fonon in support
of this transaction. The total amount of $1,240,000
was distributed in the Equity statement.

On May 21, 2024 3,000,000 of Common stock
were issued and transferred to Fonon Corporation in exchange for licenses for all commercial and noncommercial applications of Fonon Corp
for laser cutting, marking, engraving, welding, semiconductor applications and flat panel display. The stock was valued at its fair-market
value of $6,615,000 and recorded as a deemed dividend.

During
the years ending December 31, 2024, and 2023, the Company paid $30,047 and $108,268, respectively, to Dmitriy Nikitin for advisory fees
and allowances. During the years ending December 31, 2024, and 2023, the Company paid $92,764 and $92,526 to ICT Investments for accounting
services and SEC filing related work, accordingly.

For
the year ending December 31,2024, $5,780,578 was distributed to an affiliate party Fonon Corporation. The financial statements are adjusted
to reflect the Fonon Corporation amounts as distribution to affiliate. The majority of the distributions is related to payroll costs. In addition,
there are certain shared facility and overhead costs that are allocated in the distribution.

For
the year ended December 31, 2024, affiliate revenue totaled $47,515.

Related party accounts payable due to Fonon
Technologies Incorporated balance as of December 31, 2024 was $27,988.

NOTE
4 – STOCKHOLDERS’ EQUITY/DEFICIT

General

The
following description of our securities and certain provisions of our amended and restated certificate of incorporation and amended and
restated bylaws are summaries and are qualified by reference to the amended and restated certificate of incorporation and our bylaws
that will be in effect on the closing of this offering. Copies of these documents have been filed with the SEC as exhibits to our registration
statement, of which this prospectus forms a part. The descriptions of the Shares, and preferred stock reflect changes