Company: OPGN
Filing Date: 2025-10-01
Form Type: 10-Q
Source: 0001829126-25-007819
Chunk: 65

Company: OPGEN INC
Filing Date: 2025-10-01
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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stock units were granted, 507
restricted stock units vested and no restricted
stock units were forfeited. During the three months ended March 31, 2024, 21,053 restricted
stock units were granted, 21,053 restricted stock units vested and 1,413 restricted
stock units were forfeited. The Company had 189,730 
restricted stock units outstanding as of March 31, 2025.

As of March 31, 2025, there was approximately $201,000 of unrecognized compensation costs related to restricted stock units, which are expected to be recognized over a weighted average period of 0.62 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.

    20

Note 10 – Leases

Maturities of the lease liability for the Company’s lone operating lease as of March 31, 2025 by year are as follows:

    Schedule of maturities of lease liabilities

    Maturity of Lease Liabilities

    2025 (April to December)
     
    $
    277,784

    2026

    378,279

    2027

    388,682

    2028

    399,388

    2029

    410,397

    Thereafter

    927,902

    Total lease payments

    2,782,432

    Less: interest

    (801,004
    ) 
  
    Present value of lease liabilities
     
    $
    1,981,428

For the three months ended March 31, 2025 and 2024, lease costs of $58,496 are classified as operating expense in the unaudited condensed consolidated statements of operations.

The remaining term of the lone operating lease as of March 31, 2025 is 6.9 years and reflects a discount rate of 10%. In the three months ended March 31, 2025 and 2024, cash paid for amounts under the lone operating lease were $58,496 and are classified as cash used in operating activities.

Note 11 – Subsequent Events

The Company evaluates subsequent events and transactions