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RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 4 – RELATED PARTY TRANSACTIONS

 

ICT Investments provides the Company accounting services and various management services on an as needed basis. For the three months ended March 31, pursuant to an arrangement with ICT Investments, the Company had not paid these services but had recorded payables for $34,800 for accounting services and $39,903 for other services. Any distribution between Laser Photonics and ICT must be distributed to an affiliate company. The Company owes $6,068 in commercial fees to FONON Technologies Inc. (FTI) pursuant to the Transition Services Agreement signed on November 16, 2022.

 

ICT Investments owns directly 4,438,695 shares of the Company’s common stock. As of March 31, 2025, ICT Investments owns 58.55% of the total shares outstanding through the shares of the Company’s common stock owned by FONON Technologies Inc. (935,000) and FONON Corporation (3,000,000) that are both controlled by ICT Investments. Dmitriy Nikitin is the Managing Partner of ICT Investments and has controlled the Company since its inception.

 

Since the date of incorporation on November 8, 2019, the Company has engaged in the following transactions with our directors, executive officers, holders of more than 5% of its voting securities, and affiliates or immediately family members of its directors, executive officers, and holders of more than 5% of our voting securities, and its co-founders. The Company believes that all these transactions were on terms as favorable as could have been obtained from unrelated third parties.