Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 20

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 20
---
25,926

    Recognized

    (21,096
    )
  
    Refunded to customers

    (4,830
    )
  
    Balance at June 30, 2024
     
    $
    -

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 Client (the “Equity Consideration”) and (ii) $200,000 (the “Cash Consideration,” and collectively, with the Equity Consideration, the “Consideration”).

On October 2, 2024, CapForce, which was organized
by the Company for purposes of repositioning itself as a new business in the digital investment banking industry powered by financial
technology, entered into an Agreement of Assignment of Mandate with AEI Capital in respect of Direct Listing Sponsorship Advisory Services
(the “Assignment Agreement”), pursuant to which AEI Capital assigned its rights and obligations within Clause 3.1 of the Engagement
Agreement for the advisory fee equivalent to 2.1% of the outstanding equity interests of the Client and $120,000 to CapForce. As a result,
pursuant to the Assignment Agreement, CapForce performed part of the listing sponsorship and consulting services in the fourth quarter
of 2024 and completed the first performance obligation within the Engagement Agreement, earning proceeds of $5.0 million in the Client’s
equity. During the second quarter of 2025, CapForce completed the second performance obligation within the Engagement Agreement, earning
proceeds of $4.0 million in the Client’s equity. Since the $4.0 million in the Client’s equity was not issued to CapForce as of June 30, 2025,
such proceeds are recorded to accounts receivable within the Company’s unaudited condensed consolidated balance sheet for the period.

The CEO of AEI Capital Ltd. and OpGen, Inc. serves as a member of the Board of Directors of the Client, making the Client a related