Laser Photonics restates Q1 and Q2 2024 financials; affiliate costs reclassified as equity distributions

Laser Photonics Corp

Audit Committee found Q1 and Q2 2024 financials unreliable; restatements filed May 21 and Sep 23, 2024.
Sales/marketing costs paid to affiliate Fonon Corp reclassified from G&A expense to equity distributions.
Q1 filing was filed without outside auditor review; Q2 restatement followed SEC comment letter dated Sep 4, 2024.
Former auditor Fruci & Associates disagreed with reclassification; current auditor M&K CPAS later agreed.

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