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

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 the European Credit Investment Bank
(“ECIB”), a full-fledged, global facing mid-shore investment bank in Labuan, Malaysia licensed by the Labuan Financial
Services Authority, pursuant to which the parties agreed to form a joint venture company named CapForce EC Capital Markets Ltd. (the
“Joint Venture”) for purposes of developing and operating a stock trading platform (the “Trading Platform”)
and digital investment banking platform across Asia and the rest of the world (the “Digital IB Platform,” and together
with the Trading Platform, the “Platforms”). The Platforms encompass (i) a community-focused cross border stock trading
platform; (ii) a FinTech-enabled cap table management platform; and (iii) an advanced computational model-enabled investment banking
advisory platform for public listing sponsorship and wealth management. Pursuant to the JV Agreement, CapForce will own 49%
of the outstanding equity interests of the Joint Venture, and ECIB will own 51%
of the outstanding equity interests of the Joint Venture. Under the JV Agreement, the parties agreed to strategically collaborate in
order to develop the Platforms. The parties agreed to equally split all profits earned by the Joint Venture and all capital
expenditures and operating expenses in the development and operation of the Trading Platform. With
respect to operations unrelated to the Trading Platform, CapForce will be entitled to receive 80% of the profits of the Joint
Venture if the Joint Venture’s revenues are less than $10.0 million or 90% of the profits of the Joint Venture if its revenues
exceed $10.0 million. The JV Agreement includes customary representations, warranties, covenants and agreements of the parties,
including relating to the responsibilities and obligations of each party in managing and governing the Joint Venture. In particular,
CapForce will have the right to appoint two directors to the board of directors of the Joint Venture, and ECIB will have the right
to appoint one director to the board of directors of the Joint Venture. In the JV Agreement, ECIB granted CapForce an option to
purchase between 11% and 30% of the equity interests of ECIB held in the Joint Venture. The purchase price
for such option and the actual amount of equity interests must be mutually agreed upon by the parties. Upon the formation of the
Joint Venture, CapForce will retain contractual control over the Joint Venture, including for accounting
consolidation purposes. As of June 30, 2025, there has not been