Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 538

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 1C
Chunk 538
---
 (851,212
    )

    -

    (851,212
    )
  
    Present value of lease liabilities
     
    $
    2,021,615

    $
    -

    $
    2,021,615

Consolidated statements of operations classification of lease costs as of the years ended December 31, 2024 and 2023 are as follows:

    Schedule of lease cost

    Years ended December 31,

    Lease Cost
     
    Classification
     
    2024

    2023

    Operating
     
    Operating expenses
     
    $
    233,984

    $
    582,001

    Finance:

    Amortization
     
    Operating expenses

    280

    3,362

    Interest expense
     
    Other expenses

    -

    -

    Total lease costs

    $
    234,264

    $
    585,363

Other lease information as of December 31, 2024 is as follows:

    Schedule of other information

    Other Information
     
    Total

    Weighted average remaining lease term (in years)

    Operating leases

    7.2

    Finance leases

    -

    Weighted average discount rate:

    Operating leases

    10.0
    %
  
    Finance leases

    -

    F-32

Supplemental cash flow information as of the years ended December 31, 2024 and 2023 is as follows:

    Schedule of supplemental cash flow information

    Supplemental Cash Flow Information
     
    2024

    2023

    Cash paid for amounts included in the measurement of lease liabilities

    Cash used in operating activities

    Operating leases
     
    $
    233,984

    $
    582,001

    Finance leases
     
    $
    -

    $
    -

    Cash used in financing activities

    Finance leases
     
    $
    280

    $
    3,364

    ROU assets obtained in exchange for lease obligations:

    Operating leases
     
    $
    -

    $
    801,321

Note 12 – License Agreements, Research Collaborations and Development Agreements

Sandoz

In December 2018, Ares Genetics entered into a service frame agreement with Sandoz International GmbH (“Sandoz”), to leverage Ares Genetics’ database on the genetics of