Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 77

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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 for administrative and business development purposes.

24

Results
of operations for the three months ended June 30, 2025 and 2024

Revenues

    Three Months Ended
        June 30,

    2025

    2024

    Product sales
     
    $
    -

    $
    28,000

    Laboratory services

    -

    -

    Listing sponsorship services

    4,000,000

    -

    Total revenue
     
    $
    4,000,000

    $
    28,000

We recognized revenue in the three months ended June 30, 2025 solely
related to our single contract to provide listing sponsorship and consulting services, as CapForce completed the second performance obligation
within the Engagement Agreement, earning proceeds of $4.0 million in the Client’s equity. 

Operating
expenses

    Three Months Ended
        June 30,

    2025

    2024

    Cost of products sold
     
    $
    -

    $
    (41,600
    )
  
    Cost of services

    -

    -

    Research and development

    -

    22,964

    General and administrative

    594,838

    1,568,619

    Sales and marketing

    2,387

    25,327

    Total operating expenses
     
    $
    597,225

    $
    1,575,310

Our
total operating expenses for the three months ended June 30, 2025 decreased approximately 62% when compared to the same period in
2024. Operating expenses changed as follows:

●Cost
                                            of products sold: we had no cost of products sold for the three months ended June 30, 2025
                                            as we had no products sales due to the Company scaling down its legacy operations and repositioning
                                            its business;

●Cost
                                            of services: cost of services was $0 for the three months ended June 30, 2025 and 2024. These
                                            balances align with the Company scaling down its legacy operations and repositioning its
                                            business; and

    ●
    Research
        and development, general and administrative, and sales and marketing: research and development, general and administrative, and sales
        and marketing expenses decreased approximately 100%, 62%, and 91%, respectively, for the three months ended June 30,