Latest news with #LPC
Yahoo
5 days ago
- Business
- Yahoo
Laser Photonics Received NASDAQ Notice of Delisting for Failure to Satisfy a Continued Listing Rule or Standard
ORLANDO, Fla., May 29, 2025--(BUSINESS WIRE)--Laser Photonics Corporation ("LPC" or "the Company") (NASDAQ: LASE), a leading global industrial developer of CleanTech Laser Systems for laser cleaning and other applications, today announced that on May 22, 2025, it received a notice from Nasdaq Listing Qualifications department of the Nasdaq Stock Market LLC ("Nasdaq") stating that since it had not received the Company's Form 10-Q for the period ended March 31, 2025 ("1Q25"), and because the Company remains delinquent in filing its Form 10-K for the period ended December 31, 2024 (the "Initial Delinquent Filing"), the Company does not comply with Nasdaq's Listing Rules for continued listing. Nasdaq stated that in accordance with its letter dated April 16, 2025, the Company has until June 16, 2025, to submit a plan to regain compliance with respect to these delinquent reports. Nasdaq can grant an exception to allow the Company to regain compliance up to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or October 13, 2025. The delays in filing the 10-K for 2024 have caused delays to filing the 10-Q for 1Q25 and are primarily due to LPC's acquisition of certain assets of CMS in November 2024 (the "November Transaction"), approximately six weeks before the end of LPC's fiscal year, for approximately $1 million out of the bankruptcy proceedings of CMS's former parent company. LPC is actively working with its independent auditor to address outstanding matters and complete the filing of its Form 10-K as quickly as possible. Concurrently, the Company is preparing to file its 10-Q for 1Q25. The key areas under review for the audit are: The audit of CMS's historical revenue recognition practices under prior ownership prior to the November Transaction The determination of a gain associated with the December 31, 2024, valuation of the acquired CMS assets, based on their performance since the November Transaction. About Laser Photonics Corporation Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. As a result, Laser Photonics has gained a reputation as a leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aviation, automotive, medical, defense, energy, maritime, nuclear and space industries are using Laser Photonics' "unique-to-industry" systems. For more information, visit Cautionary Note Concerning Forward-Looking Statements This press release contains "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including statements regarding the Company's plans, prospects, potential results and use of proceeds. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties, which may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. These risks include, without limitation, those described under the caption "Risk Factors" in the Registration Statement. Any reader of this press release is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release except as required by applicable laws or regulations. View source version on Contacts Investor Relations and Media Contact: Brian Siegel, IRC®, Managing DirectorHayden IR(346) 396-8696laser@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
Laser Photonics Received NASDAQ Notice of Delisting for Failure to Satisfy a Continued Listing Rule or Standard
ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation ('LPC' or 'the Company') (NASDAQ: LASE), a leading global industrial developer of CleanTech Laser Systems for laser cleaning and other applications, today announced that on May 22, 2025, it received a notice from Nasdaq Listing Qualifications department of the Nasdaq Stock Market LLC ("Nasdaq") stating that since it had not received the Company's Form 10-Q for the period ended March 31, 2025 ('1Q25'), and because the Company remains delinquent in filing its Form 10-K for the period ended December 31, 2024 (the 'Initial Delinquent Filing'), the Company does not comply with Nasdaq's Listing Rules for continued listing. Nasdaq stated that in accordance with its letter dated April 16, 2025, the Company has until June 16, 2025, to submit a plan to regain compliance with respect to these delinquent reports. Nasdaq can grant an exception to allow the Company to regain compliance up to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or October 13, 2025. The delays in filing the 10-K for 2024 have caused delays to filing the 10-Q for 1Q25 and are primarily due to LPC's acquisition of certain assets of CMS in November 2024 (the 'November Transaction'), approximately six weeks before the end of LPC's fiscal year, for approximately $1 million out of the bankruptcy proceedings of CMS's former parent company. LPC is actively working with its independent auditor to address outstanding matters and complete the filing of its Form 10-K as quickly as possible. Concurrently, the Company is preparing to file its 10-Q for 1Q25. The key areas under review for the audit are: The audit of CMS's historical revenue recognition practices under prior ownership prior to the November Transaction The determination of a gain associated with the December 31, 2024, valuation of the acquired CMS assets, based on their performance since the November Transaction. About Laser Photonics Corporation Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. As a result, Laser Photonics has gained a reputation as a leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aviation, automotive, medical, defense, energy, maritime, nuclear and space industries are using Laser Photonics' 'unique-to-industry' systems. For more information, visit Cautionary Note Concerning Forward-Looking Statements This press release contains "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including statements regarding the Company's plans, prospects, potential results and use of proceeds. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties, which may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. These risks include, without limitation, those described under the caption "Risk Factors" in the Registration Statement. Any reader of this press release is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release except as required by applicable laws or regulations.
Yahoo
5 days ago
- Business
- Yahoo
Laser Photonics Received NASDAQ Notice of Delisting for Failure to Satisfy a Continued Listing Rule or Standard
ORLANDO, Fla., May 29, 2025--(BUSINESS WIRE)--Laser Photonics Corporation ("LPC" or "the Company") (NASDAQ: LASE), a leading global industrial developer of CleanTech Laser Systems for laser cleaning and other applications, today announced that on May 22, 2025, it received a notice from Nasdaq Listing Qualifications department of the Nasdaq Stock Market LLC ("Nasdaq") stating that since it had not received the Company's Form 10-Q for the period ended March 31, 2025 ("1Q25"), and because the Company remains delinquent in filing its Form 10-K for the period ended December 31, 2024 (the "Initial Delinquent Filing"), the Company does not comply with Nasdaq's Listing Rules for continued listing. Nasdaq stated that in accordance with its letter dated April 16, 2025, the Company has until June 16, 2025, to submit a plan to regain compliance with respect to these delinquent reports. Nasdaq can grant an exception to allow the Company to regain compliance up to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or October 13, 2025. The delays in filing the 10-K for 2024 have caused delays to filing the 10-Q for 1Q25 and are primarily due to LPC's acquisition of certain assets of CMS in November 2024 (the "November Transaction"), approximately six weeks before the end of LPC's fiscal year, for approximately $1 million out of the bankruptcy proceedings of CMS's former parent company. LPC is actively working with its independent auditor to address outstanding matters and complete the filing of its Form 10-K as quickly as possible. Concurrently, the Company is preparing to file its 10-Q for 1Q25. The key areas under review for the audit are: The audit of CMS's historical revenue recognition practices under prior ownership prior to the November Transaction The determination of a gain associated with the December 31, 2024, valuation of the acquired CMS assets, based on their performance since the November Transaction. About Laser Photonics Corporation Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. As a result, Laser Photonics has gained a reputation as a leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aviation, automotive, medical, defense, energy, maritime, nuclear and space industries are using Laser Photonics' "unique-to-industry" systems. For more information, visit Cautionary Note Concerning Forward-Looking Statements This press release contains "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including statements regarding the Company's plans, prospects, potential results and use of proceeds. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties, which may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. These risks include, without limitation, those described under the caption "Risk Factors" in the Registration Statement. Any reader of this press release is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release except as required by applicable laws or regulations. View source version on Contacts Investor Relations and Media Contact: Brian Siegel, IRC®, Managing DirectorHayden IR(346) 396-8696laser@
Time of India
26-05-2025
- Politics
- Time of India
DGP launches grievance redressal unit for cops
Lucknow: In a major initiative aimed at ensuring swift and transparent resolution of grievances raised by police personnel, the Police Grievance Redressal Unit (PGRU) has been set up in Sultanpur district under the direct supervision of DGP Prashant Kumar. The initiative was implemented by Sultanpur SP Kunwar Anupam Singh, who formed the unit as a Single Window System to streamline the handling of service-related issues faced by police staff. The PGRU functions directly under the SP's supervision at the district police office. An experienced inspector well-versed in police service matters was appointed as the in-charge of the unit. He can be contacted directly via CUG number 7755068810. Through the PGRU, police personnel can now seek redressal for various service issues such as salary discrepancies, arrears, increment delays, GPF-related concerns, nominee/address/education record updates in character rolls, medical reimbursements, LPC delays, transfer documentation, and other general service-related matters. A senior officer at the DGP Headquarters said that personnel can submit applications through respective station or branch in-charges, to any gazetted officer, during monthly Sainik Sammelans (police staff conferences), directly to the PGRU, and via WhatsApp at 7755068810. The PGRU in-charge is responsible for coordinating with all concerned branches — and even inter-district offices if necessary — to ensure timely resolution, thus eliminating the need for personnel to visit multiple offices. The SP also engages directly with other districts when needed. The in-charge submits daily progress reports to the SP and informs concerned police personnel once their issue is resolved.
Eyewitness News
26-05-2025
- Eyewitness News
Senzo Meyiwa trial: Witness grilled on glitch in system of LPC's Fidelity Fund
JOHANNESBURG - A glitch in the systems of the legal practitioners' Fidelity Fund took centre stage at the Senzo Meyiwa trial on Monday. The court heard evidence on the credentials of a lawyer who is linked to one of the accused, Bongani Ntanzi. According to the State, Ntanzi was legally represented by a lawyer named Dominic Mjiyako when he signed a confession statement before a magistrate at the Boksburg court in June 2020. On the witness stand on Monday was Khulani Sambo, an officer from the Legal Practice Council (LPC), who confirmed Mjiyako's credentials. Sambo's testimony confirmed that Advocate Dominic Mjiyako was registered as an attorney when he allegedly represented Ntanzi when he wrote and signed a statement confessing to the murder of Senzo Meyiwa. But Sambo also revealed that in 2020, through a complaint, that he became aware of a systems glitch that resulted in Mjiyako sharing a Fidelity Fund certificate number with another lawyer. Sambo said that a unique number was usually issued to each legal practitioner. This is where the defence centred its cross-examination on Monday, with Ntanzi's lawyer Sipho Ramosepele questioning Sambo on this glitch. "Have you ever heard of where practitioners collude with certain staff members from the LPC and those practitioners obtain FFC fraudulently?" Ramosepele asked. Sambo: "Not to my knowledge, no." While Ramosepele and his colleague, Advocate Charles Mnisi, questioned Sambo on instances of alleged corruption and fraud at the Legal Practice Council, none of them were linked to Mjiyako.
