Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 81

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 pursuant to which we have the right, in our sole discretion, to sell to AEI Capital Ltd., at any time prior to September 30,
        2024, shares of common stock, par value $0.01 per share, of the Company having an aggregate value of up to $3.0 million. As of September 30,
        2024, the Company sold 1,079,109 shares of common stock to AEI Capital Ltd. for gross proceeds of $2.0 million before deducting offering
        expenses. In October 2024, we entered into a First Amendment (the “Amendment”) to the securities purchase agreement with
        AEI Capital Ltd. whereby we were: (i) granted the right to sell two additional tranches of common stock to AEI Capital Ltd. of $3.0 million
        each, for an aggregate amount of $9.0 million under the securities purchase agreement; and (ii) our ability to sell shares of common stock
        to AEI Capital Ltd. under the securities purchase agreement was extended until December 31, 2025. Accordingly, we have the right, in our sole discretion, to sell to AEI Capital Ltd., at any time and from time to time prior to December
31, 2025, up to $7.0 million of additional shares of common stock. 

Going forward, we anticipate funding our operations
primarily through financing arrangements with AEI Capital Ltd, including the August 2024 Securities Purchase Agreement noted above, until
our operating business is able to sustain our operations.

28

Sources
and uses of cash

The
following table summarizes the net cash and cash equivalents (used in) provided by operating activities, investing activities and financing
activities for the periods indicated:

    Six months ended June 30,

    2025

    2024

    Net cash (used in) provided by

    Operating activities
     
    $
    (645,337
    )
     
    $
    (1,804,262
    )
  
    Investing activities

    -

    -

    Financing activities

    166,318

    820,553

    Net decrease in cash
        and cash equivalents
     
    $
    (479,019
    )
     
    $
    (983,709
    )

Net
cash used in operating activities

Net
cash used in operating activities for the six months ended June 30, 2025