LASE

Sales and Marketing Focus

• Announced partnership with Echelon 1 to advance CleanTech systems for the Department of Defense.
• Added four new roles to grow sales of laser systems licensed from Fonon.

R&D and Product Development

• Continued investment in new product lines, including SaberTech laser cutting tools based on Turbo Piercing technology and Laser Shield Anti-Drone concept.
• Introduced upgraded CleanTech products and ran a successful ad campaign with a 30-second commercial on Fox Business and CNBC.

Cost Optimization

• Plan to enhance manufacturing operations to reduce COGS through process refinement.
• Formed a marketing task force to optimize marketing strategies, analyzing existing strategies, identifying improvements, and creating a comprehensive marketing plan.

Pipeline and Future Prospects

• Estimated pipeline of over $70 million, expecting improved results in 2024 and positive medium to long-term growth prospects.

Revenue was down 35.5% to $0.6 million. CleanTech made up over 80% of the revenue mix. Gross profit was 51% compared to 71% last year. Operating loss in Q2 2024 was negative $2.1 million versus $0.7 million last year. Net loss decreased by 67% to $2.1 million, and loss per share was negative $0.20 per share. Share count increased significantly due to acquisitions of licenses from Fonon. Recently completed a private placement raising a net total of $2.6 million.

Risks

• Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, as detailed in the company's SEC filings.

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