LASE Corp 8-K, filed Oct 17, 2023
LASE Corp. (LASE)
About this 8-K
LASE Corp filed this 8-K on October 17, 2023, reporting on events of October 10, 2023.
Items reported
- Item 4.01: Change of auditor
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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Emerging growth company
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Item 4.01 Changes in Registrant’s Certifying Accountant.
On October 10, 2023, the Audit Committee of the Board of Directors of the registrant, Laser Photonics Corporation (the “Company” or “Laser Photonics”), approved the engagement of Fruci & Associates II, PLLC (“Fruci”) as the Company’s independent registered public accounting firm audit the balance sheets of the Company as of December 31, 2023 and 2022, and the related statements of operations, changes in stockholders’ equity, cash flows, and the related notes (collectively referred to as the financial statements) for the years then ended. Accordingly, BF Borgers CPA PC (“BF Borgers”), the Company’s independent registered public accounting firm since 2019, was informed that it would be replaced by Fruci as the Company’s independent registered public accounting firm.
BF Borger’s report on the Company’s balance sheets as of December 31, 2022 and 2021, the related statements of operations, stockholders’ equity and cash flows for the year ended December 31, 2022 and 2021 and the related notes to the financial statements (collectively, the “financial statements”), did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.
During the Company’s fiscal years ended December 31, 2022 and 2021, and through June 30, 2023, there were no (i) disagreements with BF Borgers on any matter of accounting principles or practices, financial statement disclosures or audited scope or procedures, which disagreements if not resolved to BF Borgers’s satisfaction would have caused BF Borgers to make reference to the subject matter of the disagreement in connection with its report or (ii) reportable events as defined in Item 304(a)(1)(v) of Regulation S-K other than BF Borgers advising that (i) the Company’s financial statements for the year ended 2022 should be restated on the basis that revenues for two sales to two of the Company’s customers had not yet been picked up or paid as of the end of fiscal year 2022 and such revenues should not have been recognized and (ii) the stock expense for the Company’s IR firm needed to be corrected that required a restatement of the Company’s 10-Q for the quarters ended March 31, 2023 and June 30, 2023. The Company questioned the need for such restatements but was not opposed to restating its financial statements. The Company’s decision to replace BF Borgers with Fruci was not based on the restatement concerns raised by BF Borgers.
During the Company’s fiscal years ended December 31, 2022 and 2021, and through September 30, 2023, the Company consulted Fruci with respect to the above issues on matters of accounting principles or practices and financial statement disclosures raised by BF Borgers but did not receive a written report or oral advice regarding a resolution of such matters from Fruci.
The Company has provided BF Borgers with a copy of the disclosures made by the Company in response to this Item 4.01 and has requested that BF Borgers furnish the Company with a letter addressed to the SEC stating whether it agrees with the statements made by the registrant in response to this Item 304(a) and, if not, stating the respects in which it does not agree. In response, BF Borgers has sent an email stating that it was resigning for cause and requesting that the Company include three letters that are attached hereto as Exhibits 16.1, 16.2 and 16.3.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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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: October 17, 2023 | LASER PHOTONICS CORPORATION | ||
| By: | /s/ Wayne Tupuola | ||
| Wayne Tupuola | |||
| President and Chief Executive Officer | |||
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EXHIBIT 16.1
EXHIBIT 16.2
EXHIBIT 16.3
