Laser Photonics Corp Files 10-Q/A for Q2 2024
Ticker: LASE · Form: 10-Q/A · Filed: Sep 24, 2024 · CIK: 1807887
Sentiment: neutral
Topics: 10-Q/A, amendment, financials
TL;DR
Laser Photonics Corp updated its Q2 2024 financials on 9/24. Check balance sheet details.
AI Summary
Laser Photonics Corp filed a 10-Q/A on September 24, 2024, for the period ending June 30, 2024. The filing provides updated financial information and disclosures for the second quarter. Key financial data points and balance sheet items as of June 30, 2024, and prior periods are detailed.
Why It Matters
This amended filing provides updated financial details for Laser Photonics Corp, crucial for investors and analysts assessing the company's performance and financial health as of mid-2024.
Risk Assessment
Risk Level: low — This filing is an amendment to a quarterly report, primarily containing updated financial data and disclosures, rather than a significant event like a merger or major operational change.
Key Numbers
- 20240630 — Period End Date (Indicates the end of the reporting quarter for the 10-Q/A filing.)
- 20240924 — Filing Date (The date Laser Photonics Corp submitted this amended quarterly report.)
Key Players & Entities
- Laser Photonics Corp (company) — Filer of the 10-Q/A
- 0001493152-24-037935 (accession_number) — Unique identifier for the SEC filing
- 20240924 (date) — Filing date of the 10-Q/A
- 20240630 (date) — End of the reporting period for the 10-Q/A
FAQ
What is the primary purpose of this 10-Q/A filing?
The primary purpose is to amend and provide updated financial information and disclosures for the period ending June 30, 2024.
What is the accession number for this filing?
The accession number for this filing is 0001493152-24-037935.
When was this 10-Q/A filed with the SEC?
This 10-Q/A was filed on September 24, 2024.
What fiscal period does this filing cover?
This filing covers the period ending June 30, 2024.
What is the company's principal business address?
The company's principal business address is 1101 North Keller Road, Suite G-2, Orlando, FL 32810.
Filing Stats: 4,674 words · 19 min read · ~16 pages · Grade level 15.8 · Accepted 2024-09-24 14:42:41
Key Financial Figures
- $0.001 — 12(b) OF THE ACT: NONE COMMON STOCK, $0.001 PAR VALUE Title of each class Tradi
Filing Documents
- form10-qa.htm (10-Q/A) — 965KB
- ex31-1.htm (EX-31.1) — 17KB
- ex31-2.htm (EX-31.2) — 17KB
- ex32-1.htm (EX-32.1) — 5KB
- ex32-2.htm (EX-32.2) — 5KB
- 0001493152-24-037935.txt ( ) — 5340KB
- lase-20240630.xsd (EX-101.SCH) — 24KB
- lase-20240630_cal.xml (EX-101.CAL) — 43KB
- lase-20240630_def.xml (EX-101.DEF) — 102KB
- lase-20240630_lab.xml (EX-101.LAB) — 226KB
- lase-20240630_pre.xml (EX-101.PRE) — 195KB
- form10-qa_htm.xml (XML) — 1134KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.
Controls and Procedures
Controls and Procedures 23
– OTHER INFORMATION
PART II – OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 24
Signatures
Signatures 25 Certifications 2 Table of Contents PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS LASER PHOTONICS CORPORATION CONDENSED BALANCE SHEETS (UNAUDITED) As of June 30, 2024 (Restated) As of December 31, 2023 (Restated) Assets Current Assets: Cash and Cash Equivalents $ 2,747,633 $ 6,201,137 Accounts Receivable, Net 446,016 816,364 Inventory 2,105,421 2,237,455 Other Assets 405,638 39,190 Total Current Assets 5,704,708 9,294,146 Property, Plant, & Equipment, Net 923,674 952,811 Intangible Assets, Net 4,077,662 4,279,987 Operating Lease Right-of-Use Asset 374,559 597,143 Total Assets $ 11,080,603 $ 15,124,087 Liabilities & Stockholders' Equity Current Liabilities: Accounts Payable $ 198,236 $ 223,040 Deferred Revenue 116,564 213,114 Current Portion of Operating Lease 197,614 434,152 Accrued Expenses 107,614 161,538 Total Current Liabilities 620,028 1,031,844 Long Term Liabilities: Lease liability - less current 176,945 162,991 Total Long Term Liabilities 176,945 162,991 Total Liabilities 796,973 1,194,835 Commitments and Contingencies (Note 3) - - Stockholders' Equity: Preferred stock Par value $ 0.001 : 10,000,000 shares authorized. 0 Issued: shares were outstanding as of June 30, 2024 and December 31, 2023 - - Common Stock Par Value $ 0.001 : 100,000,000 shares authorized; 12,270,427 and 9,253,419 issued, 12,245,490 and 9,228,482 outstanding as of June 30 , 2024, and December 31, 2023 12,270 9,253 Additional Paid in Capital 17,012,051 19,180,725 Retained Earnings (Deficit) ( 6,715,451 ) ( 5,235,486 ) Treasury Stock ( 25,240 ) ( 25,240 ) Total Stockholders' Equity 10,283,630 13,929,252 Total Liabilities & Stockholders' Equity $ 11,080,603 $ 15,124,087 * The reclassification from par to Additional Paid in Capital was done in Q2, 2024 See accompanying notes to financial statements. 3 Table of Contents LASER