Helionetics Inc.: The Irvine company said Monday...

Helionetics Inc.: The Irvine company said Monday that it has received 75% of the common stock of Laser Photonics Inc. in Orlando under a plan of reorganization confirmed by the U.S. Bankruptcy Court in Florida. Helionetics provided $1 million in new capital and transferred to Laser all of its 76% stake in AccuLase Inc., a Helionetics subsidiary.

As part of the agreement, Helionetics will continue to provide ongoing funding for AccuLase’s research, development and operational activities. Bernard B. Katz, chairman of Helionetics, will assume the additional role of chairman and chief executive of Laser Photonics.