Highest-materiality recent filing
Precision Optics closes upsized $10M public offering at $3.60/share
Offering of 2,777,777 shares at $3.60/share; net proceeds ~$10.7M (including overallotment).
Precision Optics annual meeting results: all director nominees elected, say-on-pay approved
Stockholders representing 77% of outstanding shares voted; all five director nominees elected with 2.4-2.8 million votes for.
Precision Optics appoints Joseph Traut as COO; Mahesh Lawande to depart Oct 31
Mahesh Lawande's employment ends Oct 31, 2025; serves as Advisor to President for October; severance extended to 7 months (~$160,417).
Precision Optics signs 7.5-year lease for ~19,590 sq ft in Littleton, MA
Initial term 7.5 years with two 5-year renewal options; base rent $361,435.50/yr (first year), 3% annual escalations.
Precision Optics stockholders approve all proposals at annual meeting
Annual meeting turnout: 6,053,101 shares voted (78.95% of outstanding).
Precision Optics enters 8-year lease for 8,750 sq ft in South Portland, ME
Initial term of 8 years with two 5-year renewal options; base rent abated first 5 months.
Precision Optics extends lease for El Paso facility through May 2028
Lease extension for 9,375 sq ft at 1410 Gail Borden, El Paso, TX, effective June 1, 2025, ending May 31, 2028.
Precision Optics appoints Joseph Pellegrino to board; CEO salary increased to $325K, options granted
Peter Anania retired from board effective March 15, 2025; replaced by Joseph P. Pellegrino, Jr. (former CFO of LeMaitre Vascular).
Precision Optics appoints Buell Duncan to Board; Dr. Richard Miles retires
Buell Duncan appointed to Board of Directors effective February 28, 2025, filling vacancy from Dr. Miles' retirement.
Sold 1,272,500 shares at $4.00 each; gross proceeds ~$5.1M, expected net ~$5.0M.
Precision Optics FY2024 revenue $19.1M, net loss widens to $3.0M; Q1 FY2025 guided $4.2-$4.4M
FY2024 revenue $19.1M exceeded high-end of $18.9M guidance; down from $21.0M prior year.
Precision Optics raises $1.4M via registered direct offering; prelim FY24 revenue $18.5M-$18.9M
Raised ~$1.4M gross from 265,868 shares at $5.25 (institutional) and $5.79 (officers/directors).
SVP of Sales and Marketing resigns, enters consulting agreement
Jeffrey L. DiRubio resigns as SVP of Sales and Marketing, effective June 30, 2024.
Precision Optics annual meeting elects directors, approves say-on-pay and auditor
Five director nominees elected; Richard B. Miles received 1,796,008 for, 1,107,529 withheld.
Precision Optics raises $2.52M via private placement of 420,000 shares at $6.00/share
Gross proceeds of approximately $2.52M from sale of 420,000 shares at $6.00/share.
Precision Optics names Wayne Coll permanent CFO; Dahill resigns as interim CFO
Wayne Coll appointed CFO effective June 12, 2023; annual base salary $300,000.
Precision Optics secures $1.5M in new debt financing from Main Street Bank
New $750,000 term loan at 8.625% fixed rate, 5-year term.
Precision Optics appoints Mahesh Lawande as COO; cites rapid growth
Mahesh Lawande becomes COO effective April 24, 2023; annual base salary of $275,000.
Precision Optics amends Lighthouse Imaging earn-out, reduces max payment to $600K
Amendment reduces second earn-out maximum from $750K to $600K and lowers gross margin target.
Precision Optics CFO Daniel Habhegger steps down; E. Kevin Dahill named Interim CFO
CFO Daniel Habhegger transitions to part-time SVP Finance as of Jan 7; remains principal financial/accounting officer through Feb 14 to file 10-Q.
Precision Optics completes 1:3 reverse stock split targeting Nasdaq uplisting
Reverse stock split effective Nov 1, 2022; shares outstanding reduced from 16,915,089 to ~5,638,302.
Preliminary Q1 FY2023 revenue ~$5.1M vs $2.3M YoY (118% increase); record quarterly revenue.
Precision Optics annual meeting votes authorize reverse stock split, approve 2022 equity plan
Reverse stock split authorization approved (11.16M for, 0.07M against; ratio 1:1.5 to 1:3).
Precision Optics boosts Ross Optical division president salary to $160k
Divaker Mangadu's base salary raised from $140,000 to $160,000 per annum.
Precision Optics provides audited & pro forma financials for Lighthouse Imaging acquisition
Lighthouse Imaging 2020 revenue $3.71M with net income $10K; 2019 revenue $3.19M with net loss $765K.
Precision Optics raises CFO salary to $200k; grants $20k in stock
CFO Daniel S. Habhegger base salary increased from $170,000 to $200,000, effective Nov 8, 2021.
Closed acquisition of Lighthouse Imaging assets for $2.855M cash (adjusted from $3.25M) plus up to $1.5M earn-out and 2.5M unregistered shares.
On March 19, 2025, the Board appointed Joseph P. Pellegrino, Jr., 60 years old, to fill the vacancy on the Board created with Peter Anania’s retirement.
On March 15, 2025, Peter Anania tendered his resignation from the Board of Directors (the “ Board ”) of Precision Optics Corporation, Inc. (the “ Company ”) retiring from the Board effective as of March 15, 2025.
On February 26, 2025, Dr. Richard B. Miles tendered his resignation from the Board of Directors (the “ Board ”) of Precision Optics Corporation, Inc. (the “ Company ”) retiring from the Board effective as of February 28, 2025.
On February 28, 2025, the Board appointed Buell Duncan, 71 years old, to fill the vacancy on the Board created with Dr. Miles’ retirement.
Jeffrey L. DiRubio, the Precision Optics Corporation, Inc.’s (the “ Company ”) Senior Vice President of Sales and Marketing, resigned from the Company effective as of June 30, 2024.
Effective June 12, 2023, the Company has appointed Wayne M. Coll, age 59, as its Chief Financial Officer.
In connection with the Company’s appointment of a permanent Chief Financial Officer, Mr. Dahill resigned as an officer and employee effective June 11, 2023.
Effective April 24, 2023, the Company has appointed Mahesh Lawande, age 50, as its Chief Operating Officer.
Mr. Habhegger will remain an employee of the Company, serving in a reduced capacity as Senior Vice President, Finance
Commencing January 7, 2023, the Company has hired E. Kevin Dahill, age 75, as its Interim CFO.
On October 6, 2021, our Board appointed Mr. Peter V. Anania as a class II director for a three-year term or until his successor is duly elected or qualified.
Max materiality 0.90 · Median 0.55 · Most common event other_material