Company: OPGN
Filing Date: 2025-10-01
Form Type: 10-Q
Source: 0001829126-25-007819
Chunk: 55

Company: OPGEN INC
Filing Date: 2025-10-01
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 the process of evaluating the effects of this guidance on its unaudited condensed consolidated financial statements.

The Company has evaluated all other issued and unadopted ASUs and believes the adoption of these standards will not have a material impact on its results of operations, financial position or cash flows.

Note 4 – Revenue from contracts with customers

Disaggregated revenue

The Company provides listing sponsorship and consulting services to growth-stage private companies and, prior to its repositioning, the Company provided diagnostic test products and laboratory services to hospitals, clinical laboratories and other healthcare providing customers. The revenues by type of service consist of the following:

    Schedule of revenues by type of service

    Three Months Ended March 31,

    2025

    2024

    Product sales
     
    $
    -

    $
    141,373

    Laboratory services

    -

    26,776

    Listing sponsorship services

    -

    -

    Total revenue
     
    $
    -

    $
    168,149

Revenues by geography are as follows:

    Schedule of revenues by geography

    Three Months Ended March 31,

    2025

    2024

    Domestic
     
    $
    -

    $
    168,149

    International

    -

    -

    Total revenue
     
    $
    -

    $
    168,149

Deferred revenue

Changes in deferred revenue for the three months ended March 31, 2024 were as follows:

    Schedule of changes in deferred revenue

    Balance at December 31, 2023
     
    $
    25,926

    Recognized

    (12,525
    )
  
    Refunded to customers

    (4,830
    )
  
    Balance at March 31, 2024
     
    $
    8,571

    14

Note 5 – Investment in equity securities

On January 2, 2024, AEI Capital Ltd., the Company’s controlling stockholder (“AEI Capital”), entered into a Letter of Engagement with a privately held company (the “Client”), pursuant to which AEI Capital agreed to provide certain listing advisory services relating to the preparation and facilitation of an initial public offering for the Client (the “Engagement Agreement”). In consideration for such services, under the Engagement Agreement, AEI Capital is entitled to receive a fee consisting of: (i) 3.5% of the outstanding equity interests of the