Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 80

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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anty

    -

    (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. Lazar consummated a transaction pursuant to which he sold the 550,000 shares of Series E Preferred Stock together with his rights
        to purchase the additional 2,450,000 shares of Series E Preferred Stock under the March 2024 Purchase Agreement to AEI Capital Ltd.
        Subsequently, AEI Capital Ltd. paid the Company $2.45 million in August 2024 in exchange for the remaining 2,450,000 shares of Series
        E Preferred Stock under the terms of the March 2024 Purchase Agreement. 

    ●
    In
        August 2024, we entered into a securities purchase agreement (the “August 2024 Securities Purchase Agreement”) with
        AEI Capital Ltd.,