Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 30

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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The Company has 209,148 
restricted stock units outstanding as of June 30, 2025.

As of June 30, 2025, there was approximately $179,000 of unrecognized compensation costs related to restricted stock units, which are expected to be recognized over a weighted average period of 0.5 years.

Note 9 – Commitments and Contingencies

Registration and other stockholder rights

In connection with various of its investment transactions, the Company entered into registration rights agreements with stockholders, pursuant to which the investors were granted certain demand registration rights and/or piggyback and/or resale registration rights in connection with subsequent registered offerings of the Company’s common stock.

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Note 10 – Leases

Maturities of the lease liability for the Company’s lone operating lease as of June 30, 2025 by year are as follows:

    Schedule of maturities of lease liabilities

    Maturity of Lease Liabilities

    2025 (July to December)
     
    $
    185,740

    2026

    378,279

    2027

    388,682

    2028

    399,388

    2029

    410,397

    Thereafter

    927,902

    Total lease payments

    2,690,388

    Less: interest

    (751,817
    ) 
  
    Present value of lease liabilities
     
    $
    1,938,571

For the three and six months ended June 30, 2025,
lease costs of approximately $58,000 and $117,000 are classified as operating expense in the unaudited condensed consolidated statements
of operations. For the three and six months ended June 30, 2024, lease costs of approximately $58,000 and $117,000 are classified as operating
expense in the unaudited condensed consolidated statements of operations.

The remaining term of the lone operating lease
as of June 30, 2025 is 6.7 years and reflects a discount rate of 10%. In each of the six months ended June 30, 2025 and 2024, cash paid
for amounts under the lone operating lease were $116,992 and are classified as cash used in operating activities.

Note 11 – Joint Venture

In April 2025,
CapForce entered into a Joint Venture Agreement (the “JV Agreement”) with