Company: OPGN
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001829126-25-009312
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Company: OPGEN INC
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
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 stock split.

Subsequent to the Company’s assignment of its headquarters office lease in April 2024, the Company has operated virtually. The Company operates in one business segment.

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Note 2 – Going Concern and Management’s Plans

The accompanying unaudited condensed consolidated financial statements have been prepared
on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.
Since inception, the Company has incurred significant losses from operations and negative operating cash flows. Historically, the Company
has funded its operations primarily through external investor financing arrangements and strategic actions taken by the Company, but,
in the near term, the Company anticipates funding its operations primarily through financing arrangements with AEI Capital Ltd., until
the Company’s operating business is able to sustain its operations. Through the Company’s financing efforts, which include,
among others, securities purchase agreements, warrant inducement agreements, and public offerings, the Company received gross proceeds
of approximately $5.0 million in 2024.

The Company has cash and cash equivalents of $0.4 414,211  million as of September 30, 2025. In August 2024, the Company and AEI Capital Ltd. entered into a Securities Purchase Agreement (the “August 2024 Securities Purchase Agreement”), pursuant to which the Company has the right, in its sole discretion, to sell to AEI Capital Ltd. shares of the Company’s common stock having an aggregate value of up to $3.0 million. The purchase price for any shares sold under the August 2024 Securities Purchase Agreement is the closing sales price on the Nasdaq Capital Market of the Company’s common stock as of the date immediately prior to the date of sale. In addition, in October 2024, the Company and AEI Capital Ltd. entered into a First Amendment (the “Amendment”) to the August 2024 Securities Purchase Agreement providing for: (1) granting the Company the right, at its sole discretion, 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 Purchase Agreement; and (2) extending the Company’s ability to sell shares of common stock to AEI Capital Ltd. under the Purchase Agreement until December 31, 2025. Through September 30, 2025, the Company sold 1,079,109 shares of common stock to AEI Capital Ltd. for