Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 7

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 9
Chunk 7
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 a “controlled company” and may elect not to comply with certain corporate governance
standards, including the requirements (1) that a majority of its board of directors consist of independent directors and (2) that its
board of directors have a compensation committee that is composed entirely of independent directors with a written charter addressing
the committee’s purpose and responsibilities. If we utilized these exemptions you may not have the same protections afforded to
stockholders of companies that are subject to all of these corporate governance requirements. If we cease to be a “controlled company”
and our shares continue to be listed on Nasdaq, we will be required to comply with these standards. We have adopted corporate governance
standards as though we were not a “controlled company.”

Committees
of the Board of Directors

Our
board of directors has established an audit committee, a compensation committee and a nominating and corporate governance committee,
each of which has the composition and responsibilities described below.

Audit
Committee

Our
audit committee is comprised of Carlos M. Gonzalez and Troy Parkos, each of whom our board has determined is financially literate
and qualifies as an independent director under Section 5605(a)(2) and Section 5605(c)(2) of the Nasdaq rules. Mr. Gonzalez is the chairman
of our audit committee, and he qualifies as an audit committee financial expert, as defined in Item 407(d)(5)(ii) of Regulation S-K.

Our
audit committee has adopted a written audit committee charter, viewable at https://laserphotonics.com/auditcommittee, that provides that
the functions of our audit committee include, among other things:

    ●
    selecting a qualified firm
    to serve as the independent registered public accounting firm to audit our financial statements;

    ●
    helping to ensure the independence
    and performance of the independent registered public accounting firm;

    ●
    discussing the scope and
    results of the audit with the independent registered public accounting firm, and reviewing, with management and the independent accountants,
    our interim and year-end operating results;

    ●
    developing procedures for
    employees to submit concerns anonymously about questionable accounting or audit matters;

    ●
    reviewing our policies
    on risk assessment and risk management;

    ●
    reviewing and approving
    related party transactions;

    ●
    obtaining and reviewing
    a report by the independent registered public accounting firm, at least annually, that describes our internal quality-control procedures,
    any material issues with