Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 94

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2
Chunk 94
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 financing
activities for the periods indicated:

    Six months ended June 30,

    2025

    2024

    Net cash (used in) provided by

    Operating activities
     
    $
    (645,337
    )
     
    $
    (1,804,262
    )
  
    Investing activities

    -

    -

    Financing activities

    166,318

    820,553

    Net decrease in cash
        and cash equivalents
     
    $
    (479,019
    )
     
    $
    (983,709
    )

Net
cash used in operating activities

Net
cash used in operating activities for the six months ended June 30, 2025 consists primarily of our net income of $3.1 million and
noncash share-based compensation expense of $0.2 million, reduced by changes in operating assets and liabilities of $4.0 million.

Net
cash used in operating activities for the six months ended June 30, 2024 consisted primarily of our net loss of $1.3 million and
gain on impairment adjustment of $2.1 million, reduced by certain noncash items, including share-based compensation expense of $0.6 million,
change in fair value of EIB loan guaranty of $0.2 million, and changes in operating assets and liabilities of $0.7 million.

Net
cash used in investing activities

We
used no cash in investing activities during the six months ended June 30, 2025 or 2024.

Net
cash provided by financing activities

Net
cash provided by financing activities for the six months ended June 30, 2025 consists solely of proceeds and payments related to
our short-term insurance financing.

Net
cash provided by financing activities for the six months ended June 30, 2024 consisted of proceeds from the issuance of preferred
stock in connection with the March 2024 Purchase Agreement with Mr. Lazar in addition to proceeds, net of payments, related to our
short-term insurance financing.

Contractual
Commitments 

Other
than the continuing liability under our former headquarters’ office lease, which lease was assigned to a third party in April 2024,
the Company has no other material contractual commitments as of June 30, 2025.

Funding
requirements

Going
forward, our primary use of cash is to fund the Company’s revenue growth and operating expenses, including those costs for general
administr