Company: LASE
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001641172-25-024367
Chunk: 19

Company: Laser Photonics Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 PARK OWNER LLC to rent 46,481SF. The commencement date for
the base rent was January 1, 2025. The base rent for the year 2025 is $50,354.

As
of January 1, 2020, we adopted ASU 2016-02 employing the cumulative-effect adjustment transition method. As of June 30, 2025, our balance
sheet shows $4,486,758 as a Right-of-use asset for operating leases, $440,468 as a current operating lease liability, and $4,262,061
as a lease liability less the current portion.

 SCHEDULE OF OPERATING LEASE EXPENSE

    Operating Lease  
    Remaining Term in Years 
  
    2025 
     561,737  

    2026 
     641,052  

    2027 
     660,284  

    2028 
     680,092  

    2029 
     700,495  

    2030 
     721,510  

    2031 
     743,155  

    2032 
     765,450  

    2033 
     788,413  

    2034 
     812,065  

    2035 
     418,214  

    Total lease payments 
     7,492,467  

    Less: Imputed interest 
     (2,789,938) 

    Present Value of Lease Liabiltiy 
     4,702,529  
     10.5 

NOTE
6 – SUBSEQUENT EVENTS

The
Company’s management has evaluated subsequent events up to July 1, 2025, the date the financial statements were issued, pursuant
to the requirements of ASC 855 and has the following events to report.

On August 5, 2025, Laser Photonics Corporation (the “Company”
or “Laser Photonics”) entered into an Asset Purchase Agreement (the “APA”) with Fonon Quantum Technologies, Inc.
(“FQTI”), an affiliate of ICT Investments, LLC, the company that together with its affiliates has voting control of Laser
Photonics, to acquire the assets of Beamer Laser Marking Systems (“Beamer”), the laser capital equipment manufacturing division
of ARCH Cutting Tools, Inc, a Michigan corporation. Beamer manufactures IR fiber-laser marking systems