Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 2144

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 13
Chunk 2144
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1,280,805 at December 31, 2024 and December 31, 2023, respectively. Due to the insolvency proceedings and deconsolidation of the Company’s subsidiaries, the Company reserved for the full value of its inventory at December 31, 2024 and 2023 given the uncertainty surrounding the net realizable value and future demand for the Company’s products.

    F-14

Long-lived assets

Property and equipment

Property and equipment is stated at cost and depreciated on a straight-line basis over the estimated useful lives of the related assets. The estimated service lives range from three to ten years. Depreciation expense for property and equipment was $151,057 and $584,230 for the years ended December 31, 2024 and 2023, respectively. Property and equipment consisted of the following at December 31, 2024 and 2023:

    Schedule of property and equipment

    December 31,

    2024

    2023

    Laboratory and manufacturing equipment
     
    $
    614,036

    $
    614,036

    Office furniture and equipment

    207,164

    207,164

    Computers and network equipment

    245,983

    245,983

    Leasehold improvements

    1,627,998

    397,666

    2,695,181

    1,464,849

    Less accumulated depreciation

    (1,615,906
    )

    (1,464,849
    )
  
    Property and equipment, net
     
    $
    1,079,275

    $
    -

Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. Recoverability measurement and estimating of undiscounted cash flows is done at the lowest possible level for which we can identify assets. If such assets are considered to be impaired, impairment is recognized as the amount by which the carrying amount of assets exceeds the fair value of the assets. During the year ended December 31, 2023, the Company determined that its property and equipment, including leasehold improvements and computer and networking equipment, at its Rockville, MD office was impaired due