Company: OPGN
Filing Date: 2025-10-01
Form Type: 10-Q
Source: 0001829126-25-007819
Chunk: 81

Company: OPGEN INC
Filing Date: 2025-10-01
Form: 10-Q
Item: Part I, Item 2
Chunk 81
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 subsidiary, the Company’s cost of sales will primarily be subcontractor and advisor fees and technology infrastructure costs associated with providing our services. Research and development expenses consist of fees to expand and innovate CapForce’s digital investment banking platform, and selling, general, and administrative expenses continue to consist of public company costs, salaries, and related costs for administrative and business development purposes.

23

Results of operations for the three months ended March 31, 2025 and 2024

Revenues

    Three Months Ended March 31,

    2025

    2024

    Product sales
     
    $
    -

    $
    141,373

    Laboratory services

    -

    26,776

    Listing sponsorship services

    -

    -

    Total revenue
     
    $
    -

    $
    168,149

We did not generate any revenue in the three months ended March 31, 2025, as we continued to wind down our legacy precision medicine business and reposition ourselves in the financial services and technology industry.

Operating expenses

    Three Months Ended March 31,

    2025

    2024

    (As Restated)

    Cost of products sold
     
    $
    -

    $
    73,236

    Cost of services

    -

    1,575

    Research and development

    -

    25,856

    General and administrative

    513,344

    1,684,151

    Sales and marketing

    9,502

    128,646

    Total operating expenses
     
    $
    522,846

    $
    1,913,464

Our total operating expenses for the three months ended March 31, 2025 decreased approximately 73% when compared to the same period in 2024. Operating expenses changed as follows:

    ●
    Cost of products sold: cost of products sold for the three months ended March 31, 2025 decreased 100% when compared to the same period in 2024. The decrease in cost of products sold aligns with the decrease in product sales in the first quarter of 2025, which is due to the Company scaling down its legacy operations and repositioning its business; 

    ●
    Cost of services: cost of services for the three months ended March 31, 2025 decreased 100% when compared to the same period in 2024. The decrease in