Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 92

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2
Chunk 92
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%, and 92%, respectively, for the six months ended June 30, 2025 compared
        to the same period in 2024. The decreases are primarily attributable to the Company scaling down its legacy operations and repositioning
        its business. 

27

Other
income (expense)

    Six Months Ended
        June 30,

    2025

    2024

    Interest and other income
     
    $
    226,688

    $
    150,668

    Interest expense

    (4,861
    )

    (1,079
    )
  
    Gain on impairment adjustment

    -

    2,079,575

    Change in fair value of EIB loan guaranty

    -

    (225,386
    )
  
    Foreign currency transaction
        gains

    103

    465

    Total other income
     
    $
    221,930

    $
    2,004,243

Our
total other income for the six months ended June 30, 2025 consisted primarily of sublease income. Total other income for the six
months ended June 30, 2024 consisted primarily of a gain on impairment adjustment of $2.1 million in March 2024 following the
Company’s identification of a subtenant for its Rockville, Maryland office and sublease income partially offset by the change in
fair value of our EIB loan guaranty.

Liquidity
and Capital Resources

As
of June 30, 2025, we had cash and cash equivalents of $0.8 million compared to $1.3 million at December 31, 2024. Historically,
we have funded our operations primarily through external investor financing arrangements and strategic actions taken by us.

The
following financing transactions generating gross proceeds of $5.0 million took place during 2024:

    ●
    In
        March 2024, we entered into a securities purchase agreement with David E. Lazar, pursuant to which we agreed to sell 3,000,000 shares
        of Series E Convertible Preferred Stock to Mr. Lazar at a price of $1.00 per share for aggregate gross proceeds of $3.0 million.
        Pursuant to the agreement, Mr. Lazar paid a total of $550,000 in exchange for 550,000 shares of Series E Preferred Stock. In July 2024,
        Mr