- Laser Photonics Corporation (LASE, Financial) received a Nasdaq delisting notice for failing to meet filing requirements.
- The company has until June 16, 2025, to submit a compliance plan to Nasdaq.
- Delays in filings are due to the acquisition of CMS assets in November 2024.
Laser Photonics Corporation (LASE), a leader in industrial laser systems, has received a delisting notice from Nasdaq for not complying with continued listing requirements. The company has yet to file its Form 10-Q for the quarter ended March 31, 2025, and remains delinquent with its Form 10-K for the year ended December 31, 2024.
Nasdaq has provided Laser Photonics until June 16, 2025, to present a plan that addresses the delinquent filings. Should the plan be accepted, Nasdaq may grant an additional 180 days, until October 13, 2025, for the company to regain compliance.
The delays stem from the company's acquisition of CMS assets in November 2024, valued at approximately $1 million. This transaction occurred roughly six weeks before the end of the fiscal year, complicating the financial audits. Key audit challenges include CMS's historical revenue recognition practices and the valuation of acquired assets.
Laser Photonics is actively collaborating with its independent auditor to resolve these issues and expedite necessary filings. Laser Photonics is renowned for its innovative laser technologies employed across various industries, including aviation, automotive, medical, and more. The company aims to revolutionize the $46 billion sand and abrasion blasting markets through its advanced laser-based solutions.
