LASE Laser Photonics Corporation

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K/A

Amendment No. 1

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 20, 2024

 

LASER PHOTONICS CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware		001-41515		84-3628771
(State of other jurisdiction		(Commission		(IRS Employer
of incorporation)		File Number)		Identification No.)

 

1101 N. Keller Rd.
Suite G
Orlando, FL		32810
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (407) 804-1000

 

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		LASE		The Nasdaq Stock Market LLC

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

 

 

 

Explanatory Note

 

On August 26, 2024, Laser Photonics Corporation (“Laser Photonics”) filed a Current Report on Form 8-K (the “Original Filing”) reporting its receipt of a letter dated August 20, 2024, from Nasdaq for non compliance with Nasdaq’s Listing Rules by not filing its Form 10-Q for the period ended June 30, 2024, as of August 20, 2024. Nasdaq instructed Laser Photonics to file a press release reporting its receipt of the letter of non-compliance. This Amendment No. 1 to the Original Filing includes as Exhibit 99.1 the press release issued by Laser Photonics in accordance with the letter from Nasdaq.

 

 

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

On August 20, 2024, Laser Photonics” or the “Company”) received a notice from Nasdaq Listing Qualifications department of the Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company no longer complies with Nasdaq’s Listing Rules for continued listing since it failed to file its Form 10-Q for the period ended June 30, 2024 (the “Filing”) by that date. Nasdaq stated in its letter that the Company had 60 calendar days to submit a plan to regain compliance and, if Nasdaq accepted the Company’s plan, it could grant an exception of up to 180 calendar days from the Filing’s due date, or until February 17, 2025, to regain compliance. The Company expects to make its Filing as of August 27, 2024, to regain its compliance with Nasdaq’s Listing Rules.

 

A copy of the press release announcing the non-compliance notice from Nasdaq is attached hereto and incorporated herein to this Current Report on Form 8-K/A as Exhibit 99.1.

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibits

 

99.1		Press Release Issued by Laser Photonics Corporation dated August 27, 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Date: August 27, 2024	Laser Photonics Corporation
	By:	/s/ Wayne Tupuola
		Wayne Tupuola
		President and CEO

 

 

Exhibit 99.1

 

 

Laser Photonics Received NASDAQ Compliance Letters Related to Late Filing of the June 30, 2024 10-Q

 

Orlando, Fla., August 27, 2024 – Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global industrial developer of CleanTech Laser Systems for laser cleaning and other applications, today announced that on August 20, 2024, it received a notice from Nasdaq Listing Qualifications department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that since the Company has not yet filed its Form 10-Q for the quarter ended June 30, 2024 (the “Filing”), and it no longer complies with Nasdaq’s Listing Rules (the “Rules”), specifically Listing Rule 5250(c)(1), for continued listing. Under the Rules, the Company has 60 calendar days to submit a plan to regain compliance, and if Nasdaq accepts the Company’s plan, Nasdaq can grant an exception of up to 180 calendar days from the Filing’s due date, or until February 17, 2025, to regain compliance. Please note that any subsequent periodic filing that is due within the 180-day exception period must be filed no later than the end of the period.

 

About Laser Photonics Corporation

 

Laser Photonics Corporation is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. At LPC, we are disrupting the centuries-old $46 billion sand and abrasives blasting markets, focused on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Our new-generation laser blasting technologies and equipment address the health, safety, environmental and regulatory concerns associated with outdated methods, proving Laser Photonics Corp. an industry leader for industrial laser systems. Renowned manufacturers in aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding sectors rely on our “unique-to-industry” systems. For more information, visit www.laserphotonics.com.

 

Cautionary Note Concerning Forward-Looking Statements

 

This news release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations as of the date of this press release and involve risks and uncertainties that may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. We encourage readers to review the “Risk Factors” in our Registration Statement for a comprehensive understanding. Laser Photonics Corp. undertakes no obligation to revise or update any forward-looking statements, except as required by applicable laws or regulations, to reflect events or circumstances after the date of this press release.

 

Investor Relations Contact:

Email: laser@haydenir.com

 

v3.24.2.u1

Cover	Aug. 20, 2024
Cover [Abstract]
Document Type	8-K/A
Amendment Flag	true
Amendment Description	On August 26, 2024, Laser Photonics Corporation (“Laser Photonics”) filed a Current Report on Form 8-K (the “Original Filing”) reporting its receipt of a letter dated August 20, 2024, from Nasdaq for non compliance with Nasdaq’s Listing Rules by not filing its Form 10-Q for the period ended June 30, 2024, as of August 20, 2024. Nasdaq instructed Laser Photonics to file a press release reporting its receipt of the letter of non-compliance. This Amendment No. 1 to the Original Filing includes as Exhibit 99.1 the press release issued by Laser Photonics in accordance with the letter from Nasdaq.
Document Period End Date	Aug. 20, 2024
Entity File Number	001-41515
Entity Registrant Name	LASER PHOTONICS CORPORATION
Entity Central Index Key	0001807887
Entity Tax Identification Number	84-3628771
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1101 N. Keller Rd.
Entity Address, Address Line Two	Suite G
Entity Address, City or Town	Orlando
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32810
City Area Code	(407)
Local Phone Number	804-1000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	LASE
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	true

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