$LASE
Laser Photonics Corp

2021 Q3 Form 10-Q Financial Statement

#000165495421009069 Filed on August 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $1.099M $914.5K $737.8K
YoY Change 80.78% 23.95%
Cost Of Revenue $324.5K $163.8K $269.6K
YoY Change 24.28% -39.27%
Gross Profit $774.1K $750.7K $468.1K
YoY Change 123.33% 60.36%
Gross Profit Margin 70.47% 82.09% 63.45%
Selling, General & Admin $730.4K $370.0K
YoY Change
% of Gross Profit 94.36% 49.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.93K $70.00K
YoY Change 504.82%
% of Gross Profit 5.16% 9.32%
Operating Expenses $637.2K $410.3K $485.2K
YoY Change 98.87% -15.42%
Operating Profit $137.0K $340.4K -$17.02K
YoY Change 422.0% -2099.78%
Interest Expense $10.85K $16.21K $0.00
YoY Change 83.63%
% of Operating Profit 7.92% 4.76%
Other Income/Expense, Net $17.91K -$16.21K $0.00
YoY Change 203.17%
Pretax Income $154.9K $324.2K -$17.02K
YoY Change 661.73% -2004.54%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $155.2K $324.2K $123.3K
YoY Change 842.22% 162.86%
Net Earnings / Revenue 14.12% 35.45% 16.72%
Basic Earnings Per Share $0.03 $0.07
Diluted Earnings Per Share $0.03 $0.05
COMMON SHARES
Basic Shares Outstanding 29.27M shares 4.878M shares
Diluted Shares Outstanding 4.878M shares

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $595.4K $503.5K $301.7K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.942M $2.041M
Prepaid Expenses
Receivables $1.290M $891.4K
Other Receivables
Total Short-Term Assets $3.828M $3.436M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $738.9K $771.9K
YoY Change
Goodwill
YoY Change
Intangibles $3.011M $3.187M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.764M $4.069M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $3.828M $3.436M
Total Long-Term Assets $3.764M $4.069M
Total Assets $7.592M $7.505M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $689.2K $604.8K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.073M $1.107M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $689.2K $604.8K
Total Long-Term Liabilities $1.073M $1.107M
Total Liabilities $1.762M $1.712M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $538.7K $501.2K
YoY Change
Common Stock $292.7K $292.7K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.831M $5.675M $631.3K
YoY Change
Total Liabilities & Shareholders Equity $7.592M $7.505M
YoY Change

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $155.2K $324.2K $123.3K
YoY Change 842.22% 162.86%
Depreciation, Depletion And Amortization $39.93K $70.00K
YoY Change 504.82%
Cash From Operating Activities $331.2K $550.0K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$9.670K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$9.670K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -52.82K -680.0K
YoY Change
NET CHANGE
Cash From Operating Activities 331.2K 550.0K
Cash From Investing Activities -9.670K 0.000
Cash From Financing Activities -52.82K -680.0K
Net Change In Cash 268.7K -130.0K
YoY Change
FREE CASH FLOW
Cash From Operating Activities $331.2K $550.0K
Capital Expenditures -$9.670K $0.00
Free Cash Flow $340.8K $550.0K
YoY Change

Facts In Submission

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at dates of the financial statements and the reported amounts of revenue and expenses during the periods. Actual results could differ from these estimates. Our significant estimates and assumptions include the useful lives of fixed assets and intangible assets, the fair value of our stock, and the valuation allowance relating to the Company’s deferred tax assets.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company requires deposits on most sales orders. These deposits are recorded as deferred revenue until such time as the revenue recognition criteria for that project are order is completed. As of June 30, 2021, our deferred revenue was $440,327 in comparison to $779,128 at December 31, 2020.</p>
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100000000 shares
CY2021Q2 lpc Authorized Shares Of Blank Check Preferred
AuthorizedSharesOfBlankCheckPreferred
10000000 shares
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
43133 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
86265 USD
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
CY2021Q2 us-gaap Lease Cost
LeaseCost
43133 USD
us-gaap Lease Cost
LeaseCost
86265 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
43133 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
86265 USD
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
43133 USD
us-gaap Lease Cost
LeaseCost
86265 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
86266 USD
lpc Operating Lease Weighted Average Remaining Leases Term
OperatingLeaseWeightedAverageRemainingLeasesTerm
P0Y5M1D
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
29270502 shares
CY2021Q2 us-gaap Area Of Land
AreaOfLand
18000 sqft
us-gaap Variable Lease Payment
VariableLeasePayment
14377 USD
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-10-20

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0001654954-21-009069.txt Edgar Link pending
0001654954-21-009069-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lpc-20210630.xsd Edgar Link pending
lpc-20210630_cal.xml Edgar Link unprocessable
lpc-20210630_def.xml Edgar Link unprocessable
lpc-20210630_lab.xml Edgar Link unprocessable
lpc-20210630_pre.xml Edgar Link unprocessable
lpc_10q.htm Edgar Link pending
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