Laser Photonics Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Laser Photonics Corp. filed its 2023 Form 10-K, detailing financial performance and business operations for the year ending December 31, 2023.</b>

AI Summary

Laser Photonics Corp (LASE) filed a Annual Report (10-K) with the SEC on April 19, 2024. Laser Photonics Corp. filed its 2023 Form 10-K on April 19, 2024, reporting on its fiscal year ending December 31, 2023. The company's fiscal year ends on December 31st. The filing includes data related to various entities and transactions, such as TraDigital Marketing Group, Alexander Capital, and Fonon Technologies Inc. Key dates mentioned include periods for reporting revenue and specific events related to financial instruments. The report details assets including operational software, website, equipment design documentation, customer relationships, and demonstration equipment as of December 31, 2022 and 2023.

Why It Matters

For investors and stakeholders tracking Laser Photonics Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Laser Photonics Corp.'s financial health, operational activities, and strategic positioning for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future outlook. The detailed breakdown of assets and financial instruments, along with mentions of specific entities and their transactions, offers insights into the company's business model, potential risks, and growth drivers.

Risk Assessment

Risk Level: medium — Laser Photonics Corp shows moderate risk based on this filing. The company's financial disclosures are limited in this extract, making a definitive risk assessment challenging without more detailed financial statements and management discussion.

Analyst Insight

Investors should review the full 10-K filing to understand Laser Photonics Corp.'s financial performance, operational risks, and future growth strategies.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for the 10-K)
• 2024-04-19 — Filing Date (Date the 10-K was filed)
• 7878419 — Value (Associated with a financial period)
• 9253419 — Value (Associated with a financial period)

Key Players & Entities

• Laser Photonics Corp. (company) — Filer of the 10-K
• TraDigital Marketing Group (company) — Mentioned entity in financial data
• Alexander Capital (company) — Mentioned entity in financial data
• Fonon Technologies Inc. (company) — Mentioned entity in financial data
• Tim Schick (person) — Mentioned in relation to reporting periods

FAQ

Industry Context

The filing pertains to Laser Photonics Corp., a company operating within the industrial manufacturing sector, likely focusing on laser technology and related equipment.

Regulatory Implications

This is a standard SEC filing (Form 10-K) required for publicly traded companies to report their annual financial performance and business operations.

What Investors Should Do

1. Review the full 10-K for detailed financial statements and Management's Discussion and Analysis.
2. Analyze the company's asset breakdown, including intangible assets like software and customer relationships.
3. Investigate the nature of transactions with entities like TraDigital Marketing Group and Alexander Capital.

Key Dates

• 2023-12-31: Fiscal Year End — Primary reporting period for the 10-K
• 2024-04-19: Filing Date — Date the 10-K was submitted to the SEC

Year-Over-Year Comparison

This is the initial 10-K filing data provided for analysis, so no comparison to a previous filing is possible from this extract.

Key Financial Figures

• $0.01 — ECTION 12(g) OF THE ACT: COMMON STOCK, $0.01 PAR VALUE Title of each class Tradi
• $9 billion — r cleaning market value is estimated at $9 billion in 2021 and projected to be $12 billion
• $12 billion — $9 billion in 2021 and projected to be $12 billion by 2025, which includes laser cleaning
• $46 billion — d equipment markets, cumulatively worth $46 billion. Media blasting is used in nearly every
• $10 billion — for growth considering the size of the $10 billion abrasive cleaning market, and the ancil
• $1 billion — sive cleaning market, and the ancillary $1 billion sandblasting media market, which are be
• $150.64 billion — O industry, has a total market value of $150.64 billion as of 2021, with forecast revenue of $1
• $178.85 billion — on as of 2021, with forecast revenue of $178.85 billion for 2028. Annual Pentagon spending on c
• $22 billion — rrosion control alone is forecast to be $22 billion. The North America MRO distribution ma
• $142.65 billion — distribution market size was valued at $142.65 billion in 2020 and is expected to grow at a co

Filing Documents

• laser_10k.htm (10-K) — 1428KB
• laser_ex311.htm (EX-31.1) — 11KB
• laser_ex312.htm (EX-31.2) — 8KB
• laser_ex321.htm (EX-32.1) — 3KB
• laser_ex322.htm (EX-32.2) — 3KB
• laser_ex971.htm (EX-97.1) — 37KB
• laser_10kimg4.jpg (GRAPHIC) — 7KB
• laser_10kimg8.jpg (GRAPHIC) — 27KB
• laser_10kimg7.jpg (GRAPHIC) — 20KB
• laser_10kimg6.jpg (GRAPHIC) — 7KB
• laser_10kimg5.jpg (GRAPHIC) — 6KB
• laser_10kimg10.jpg (GRAPHIC) — 3KB
• laser_10kimg2.jpg (GRAPHIC) — 16KB
• laser_10kimg3.jpg (GRAPHIC) — 6KB
• 0001654954-24-004797.txt (&nbsp;) — 5633KB
• laser-20231231.xsd (EX-101.SCH) — 40KB
• laser-20231231_lab.xml (EX-101.LAB) — 266KB
• laser-20231231_cal.xml (EX-101.CAL) — 40KB
• laser-20231231_pre.xml (EX-101.PRE) — 221KB
• laser-20231231_def.xml (EX-101.DEF) — 124KB
• laser_10k_htm.xml (XML) — 776KB

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements, which are identified by the words "believe," "expect," "anticipate," "intend," "plan" and similar expressions. The statements contained herein which are not based on historical facts are forward-looking statements that involve known and unknown risks and uncertainties that could significantly affect our actual results, performance or achievements in the future and, accordingly, such actual results, performance or achievements may materially differ from those expressed or implied in any forward-looking statements made by or on our behalf. These risks and uncertainties include, but are not limited to, risks associated with our ability to successfully develop and protect our intellectual property, our ability to raise additional capital to fund future operations and compliance with applicable laws and changes in such laws and the administration of such laws. These risks are described below and in "Item 1. Business," Item 1A "Risk Factors," "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Item 7A. Quantitative and Qualitative Disclosures About Market Risk" included in this Form 10-K. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made. 2 TABLE OF CONTENT ITEM 1.

BUSINESS

BUSINESS 4 ITEM 1A.

RISK FACTORS

RISK FACTORS 14 ITEM 1B. UNRESOLVED STAFF COMMENTS 29 ITEM 1C. CYBERSECURITY 29 ITEM 2.

PROPERTIES

PROPERTIES 30 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 30 ITEM 4. MINE SAFETYDISCLOSURES 30 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITYSECURITIES 31 ITEM 6.

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 32 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 35 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 46 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARYDATA

FINANCIAL STATEMENTS AND SUPPLEMENTARYDATA 47 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTINGAND FINANCIAL DISCLOSURE 48 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 48 ITEM 9B OTHER INFORMATION 48 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 48 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERANCE 49 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 53 ITEM 12. SECURITYOWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 58 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 59 ITEM 14. PRINCIPAL ACCOUNTINGFEES AND SERVICES 61 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 62

SIGNATURES

SIGNATURES 62 3 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS OVERVIEW We are pioneering a new generation of laser blasting technologies focused on disrupting the sandblasting and abrasives blasting markets. We offer a full portfolio of integrated laser blasting solutions for corrosion control, rust removal, de-coating, pre- and post-welding, laser cleaning and surface conditioning. Our solutions span use cases throughout product lifecycles, from product fabrication to maintenance and repair, as well as aftermarket operations. Our laser blasting solutions are applicable in every industry dealing with materials processing, including automotive, aerospace, healthcare, consumer products, shipbuilding, aerospace, heavy industry, machine manufacturing, nuclear maintenance and de-commissioning and surface coating. We believe that our laser cleaning technology, which we refer to as Laser Blasting, is one of the most exciting and transformational innovations of our time. It has the capacity to change the way society combats corrosion, nuclear contamination (transmutation), material surface preparation, rust removal, equipment and engine maintenance and repair, as well as myriad number of other industrial processes, currently employing unhealthy, dangerous, and environmentally hazardous old technologies. Our mission is to make laser blasting accessible to operation personnel in every industry involved in any type of material treatment. In doing so, we believe we will empower businesses to adopt radical new approach to design, produce, maintain and repair equipment utilizing cleaner, safer, energy efficient and more cost-effective laser-based technologies to outcompete and outperform competitors using obsolete 19th century technologies. With our state-of- the-art technology, small service companies working in high-growth industries can achieve superior financial results that will propel future global economic growth. At this moment, "do no harm" corporate social responsibility initiatives have combined with legisl

View Full Filing

View this 10-K filing on SEC EDGAR