Laser Photonics Corp: The Culmination of 25 Years of Fraud – Capybara Research
Explosive Capybara Research report reveals Laser Photonics (LASE) as 25-year fraud machine led by serial fraudster Dmitri Nikitin, exposing systematic financial misconduct, stock manipulation, and deceptive business practices in tech startup fraud investigation.
Capybara Research has released a scathing report on Laser Photonics Corp (NASDAQ: LASE), alleging the company represents the latest iteration in a 25-year pattern of fraud orchestrated by founder Dmitri Nikitin. The report details how LASE is essentially a rebranded version of previously failed ventures, recycling outdated technology and questionable assets while engaging in deceptive financial practices.
Stock info:
- Ticker: LASE (NASDAQ)
- Position: Capybara Research is short LASE stock
Why it matters:
- LASE recently admitted that none of its last six financial reports can be relied upon, a devastating disclosure that undermines any claim to legitimate operations
- Founder Dmitri Nikitin has a 25-year history of fraud across multiple companies (PTG Precision Technology, BlueChip Energy, Fonon Corp), consistently using the same pattern: repackage outdated assets under new company names
- LASE shares surged from $1.12 to $16 in 2023, but a private placement valued shares at only $2 (87% below market price), suggesting insiders know the stock is massively overvalued
- The company attempted to conceal its connection to Fonon Corp during SEC registration, hiding Nikitin's troubled past and prior regulatory issues
- Documented fraudulent transactions include a $5 million payment for a worthless solar panel system that was purchased at auction for just $160,000
- Multiple court judgments against Nikitin's companies demonstrate a pattern of misappropriating funds, defaulting on obligations, and using corporate assets for personal gain
Catch up quick:
- LASE shares identical management, addresses, phone numbers, and technology with Nikitin's previous failed ventures, confirming it's simply a rebranded continuation
- Nikitin controls LASE through shell companies (ICT Investments holding 36.2% and Fonon Corporation holding 24.5%), maintaining majority control while obscuring his direct involvement
- Previous Nikitin company BlueChip Energy was caught distributing solar panels with counterfeit UL certification marks, forcing a costly recall and demonstrating a willingness to endanger customers
- After taking Fonon public through a reverse merger, the company ceased filing audited financial statements within a year—a pattern that suggests similar issues may arise with LASE
- Nikitin has faced multiple lawsuits for fraud, including a $4.48 million judgment from SunTrust for fraudulent lease-back schemes similar to tactics currently employed at LASE
- The report suggests LASE is fundamentally worthless given its reliance on recycled obsolete technology, misleading disclosures, and a business model designed primarily to enrich insiders
FAQs:
What is the main allegation against Laser Photonics (LASE)?
Capybara Research alleges that LASE is the latest iteration in a 25-year pattern of fraud by Dmitri Nikitin, who has repeatedly repackaged obsolete laser technology under new company names after previous ventures collapsed due to fraudulent activities.
Who is Dmitri Nikitin and what is his background?
Dmitri Nikitin is the founder and controlling shareholder of LASE who, according to the report, has a documented history of orchestrating fraudulent schemes across several companies including PTG Precision Technology, BlueChip Energy, and Fonon Corp. He has faced multiple lawsuits and judgments for misappropriating company funds and engaging in deceptive business practices.
What evidence suggests LASE is overvalued?
Despite LASE's stock surging from $1.12 to $16, a recent private placement valued shares at only $2—87% lower than the market price. Additionally, the company has admitted that none of its last six financial reports can be relied upon, casting serious doubt on its financial representations.
How is LASE connected to previous fraudulent companies?
LASE shares the same management, addresses, technology, and operational structure as Nikitin's previous ventures, particularly Fonon Corp. The report details how LASE attempted to conceal these connections during its SEC registration process.
What fraudulent transactions are highlighted in the report?
A key example is a $5 million transaction where Fonon paid for a worthless solar panel system that had been purchased at auction for just $160,000. This transaction exemplifies the pattern of related-party deals designed to extract value from the company rather than build legitimate business operations.
What regulatory issues has LASE or its predecessors faced?
Previous Nikitin companies have faced SEC delistings, legal judgments (including a $4.48 million judgment from SunTrust), and regulatory actions related to counterfeit product certifications. LASE itself has recently had to restate financials, admitting unreliability in its reporting.
How does Nikitin maintain control of LASE while obscuring his involvement?
Nikitin controls LASE indirectly through shell companies—ICT Investments (36.2% ownership) and Fonon Corporation (24.5% ownership)—giving him majority control while creating a layer of separation from direct ownership.
What are the red flags in LASE's technology claims?
The report indicates that LASE is marketing decades-old laser technology as innovative, when in reality it's recycling the same obsolete equipment from previous failed ventures. Past issues with quality and safety, including counterfeit certifications, raise serious concerns about product viability.
What is the predicted outcome for LASE according to the report?
Capybara Research suggests LASE is fundamentally worthless and likely to follow the pattern of Nikitin's previous companies—extracting value for insiders before collapsing amid regulatory scrutiny, lawsuits, and financial irregularities.
Has LASE responded to these allegations?
The report does not mention any response from LASE to these specific allegations. Investors should seek out any company statements addressing these concerns.
Disclaimer
This summary is based on a report by Capybara Research. For the full, detailed analysis, please refer to the original source material: https://capybararesearch.com/reports/laser-photocs-the-culmination-of-20-years-of-fraud/
ShortReport.fyi is not the author or originator of the content provided in this publication. We act solely as a distributor of the content and do not endorse, verify, or take responsibility for the accuracy, completeness, or reliability of the information presented. Each author retains full ownership and responsibility for their respective content, including any opinions, projections, or analyses expressed therein.
This publication is for informational purposes only and should not be construed as legal, business, investment, or tax advice. Readers are advised to consult the original source material and seek guidance from qualified professionals before making any decisions based on the information contained herein.
ShortReport.fyi disclaims all liability for any loss or damage arising from reliance on the content provided by third parties. The views expressed in these materials are solely those of the respective authors and do not necessarily reflect the views or opinions of ShortReport.fyi.