{"id":840485,"date":"2025-04-23T07:10:56","date_gmt":"2025-04-23T11:10:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/laser-photonics-received-nasdaq-compliance-letter-related-to-late-filing-of-the-december-31-2024-10-k\/"},"modified":"2025-04-23T07:10:56","modified_gmt":"2025-04-23T11:10:56","slug":"laser-photonics-received-nasdaq-compliance-letter-related-to-late-filing-of-the-december-31-2024-10-k","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/laser-photonics-received-nasdaq-compliance-letter-related-to-late-filing-of-the-december-31-2024-10-k\/","title":{"rendered":"Laser Photonics Received NASDAQ Compliance Letter Related to Late Filing of the December 31, 2024 10-K"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Laser Photonics Received NASDAQ Compliance Letter Related to Late Filing of the December 31, 2024 10-K<\/b><\/p>\n<p class=\"bwalignc\"><i>Filing delay mainly due to audit procedures related to the acquisition of certain assets of Control Micro Systems (CMS) that occurred 6 weeks prior to the end of fiscal 2024<\/i><\/p>\n<p>ORLANDO, Fla.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.laserphotonics.com%2Fhome&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=Laser+Photonics+Corporation&amp;index=1&amp;md5=80d5e4329e19c602887f5ae18bc5608b\">Laser Photonics Corporation<\/a> (LPC) (NASDAQ: LASE), a leading global industrial developer of <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.cleantechlaser.com%2F&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=CleanTech+Laser+Systems&amp;index=2&amp;md5=7845343283eb140a63b5efbb753dc0d2\">CleanTech Laser Systems<\/a> for laser cleaning and other applications, today announced that on April 16, 2025, it received a notice from Nasdaq Listing Qualifications department of The Nasdaq Stock Market LLC (&#8220;Nasdaq&#8221;) stating that since the Company has not yet filed its Form 10-K for the year ended December 31, 2024 (the \u201cFiling\u201d), it no longer complies with Nasdaq\u2019s Listing Rules (the \u201cRules\u201d), 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\u2019s plan, Nasdaq can grant an exception of up to 180 calendar days from the Filing\u2019s due date, or until October 13, 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.\n<\/p>\n<p>\nThe delay in filing is primarily due to LPC\u2019s acquisition of certain assets of CMS in November 2024 (the \u201cNovember Transaction\u201d), approximately six weeks before the end of LPC\u2019s fiscal year for approximately $1 million out of the bankruptcy proceedings of CMS\u2019s former parent company. LPC is actively working with its independent auditor to address outstanding matters and complete the filing of its Form 10-K as quickly as possible. The key areas under review are:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe audit of CMS\u2019s historical revenue recognition practices prior to the November Transaction; and\n<\/li>\n<li>\nThe determination of a gain associated with the December 31, 2024 valuation of the acquired CMS assets, based on their performance since the November Transaction.\n<\/li>\n<\/ul>\n<p>\nAs of March 17, 2025:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nLPC had collected roughly $1.7 million of the CMS receivables that were part of the November Transaction; and\n<\/li>\n<li>\nCMS had received nearly $3 million in new orders since the closing of the November Transaction.\n<\/li>\n<\/ul>\n<p><b>About Laser Photonics Corporation<\/b><\/p>\n<p>\nLaser Photonics is a vertically integrated manufacturer and R&amp;D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. As a result, Laser Photonics has gained a reputation as a leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Flaserphotonics.com%2Findustries%2Faviation&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=aviation&amp;index=3&amp;md5=d595513464aba82ad5cccbc323414ad6\">aviation<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.laserphotonics.com%2Findustries%2Fautomotive&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=automotive&amp;index=4&amp;md5=c041d047e450b57b949bca98201928f5\">automotive<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fcmslaser.com%2Fcapabilities%2Findustries%2Fmedical%2F&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=medical&amp;index=5&amp;md5=b0226e098aac3d326ffc378884b7985c\">medical<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.laserphotonics.com%2Findustries%2Fdefense&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=defense&amp;index=6&amp;md5=4ed8f118c862131f00e51e1006f9e798\">defense<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.laserphotonics.com%2Findustries%2Fwind-oil-gas&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=energy&amp;index=7&amp;md5=13841d641184fb7b41bb2c6a3294a312\">energy<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.laserphotonics.com%2Findustries%2Fshipbuilding&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=maritime&amp;index=8&amp;md5=e3a61d33bebefc64eba160afb036112e\">maritime<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.laserphotonics.com%2Findustries%2Fnuclear&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=nuclear&amp;index=9&amp;md5=b2dbe6eca2e97a72295731103500d156\">nuclear<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.laserphotonics.com%2Findustries%2Fspace-exploration&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=space&amp;index=10&amp;md5=8aa8b9d470ca0864fb882ca5ee1972b7\">space<\/a> industries are using Laser Photonics\u2019 \u201cunique-to-industry\u201d systems. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.laserphotonics.com%2F&amp;esheet=54242237&amp;newsitemid=20250423123333&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.laserphotonics.com&amp;index=11&amp;md5=114aa6972d378d5c4601bd7fb743c975\">https:\/\/www.laserphotonics.com<\/a>.\n<\/p>\n<p><b>Cautionary Note Concerning Forward-Looking Statements<\/b><\/p>\n<p><i>This press release contains &#8220;forward-looking statements&#8221; (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including statements regarding the Company&#8217;s plans, prospects, potential results and use of proceeds. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties, which may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. These risks include, without limitation, those described under the caption &#8220;Risk Factors&#8221; in the Registration Statement. Any reader of this press release is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release except as required by applicable laws or regulations.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250423123333r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250423123333\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250423123333\/en\/<\/a><\/span><\/p>\n<p><b>Investor Relations and Media Contact:<br \/>\n<\/b><br \/>Brian Siegel, IRC<sup>\u00ae<\/sup>, M.B.A.<br \/>\n<br \/>Senior Managing Director<br \/>\n<br \/>Hayden IR<br \/>\n<br \/>(346) 396-8696<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:laser@haydenir.com\">laser@haydenir.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Florida<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Manufacturing Technology Steel Engineering Other Technology Automotive Manufacturing Aerospace Manufacturing Machine Tools, Metalworking &amp; Metallurgy Hardware<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250423123333\/en\/2446487\/3\/LP-Logo-Package-Files-V2-092223_PrimaryLogo1-Color_%282%29_%283%29_%281%29_%282%29_%286%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Laser Photonics Received NASDAQ Compliance Letter Related to Late Filing of the December 31, 2024 10-K Filing delay mainly due to audit procedures related to the acquisition of certain assets of Control Micro Systems (CMS) that occurred 6 weeks prior to the end of fiscal 2024 ORLANDO, Fla.&#8211;(BUSINESS WIRE)&#8211;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 April 16, 2025, it received a notice from Nasdaq Listing Qualifications department of The Nasdaq Stock Market LLC (&#8220;Nasdaq&#8221;) stating that since the Company has not yet filed its Form 10-K for the year ended December 31, 2024 (the \u201cFiling\u201d), it no longer complies with Nasdaq\u2019s Listing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/laser-photonics-received-nasdaq-compliance-letter-related-to-late-filing-of-the-december-31-2024-10-k\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Laser Photonics Received NASDAQ Compliance Letter Related to Late Filing of the December 31, 2024 10-K&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-840485","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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