Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 363

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 1B
Chunk 363
---
 related accounting treatment
of these issuances involves a high degree of auditor judgement and an increased extent of effort to evaluate the Company’s conclusions.

F-3

Our audit procedures related to the
conclusions associated with the valuation and accounting treatment for these issuances involved the following procedures, among others:

●We
                                            obtained management’s pricing model for the various issuances and tested the significant
                                            inputs of the pricing model used to determine the fair value of these items.

●We
                                            reviewed the underlying agreements supporting these issuances and agreed the terms of the
                                            issuances to the pricing used by management.

●We
                                            recomputed management’s fair value estimate using a similar pricing model to ensure
                                            the output was consistent with management’s pricing model output.

/s/ Beckles & Co., Inc.

We have served as the Company’s auditor since 2024.

West Palm Beach, Florida

August 21, 2025

F-4

OpGen, Inc.

Consolidated Balance Sheets

    December 31,

    2024

    2023

    Assets

    Current assets:

    Cash and cash equivalents
     
    $
    1,310,653

    $
    1,151,823

    Accounts receivable, net

    29,258

    103,316

    Prepaid expenses and other current assets

    1,309,316

    324,735

    Total current assets

    2,649,227

    1,579,874

    Property and equipment, net

    1,079,275

    -

    Finance lease right-of-use assets, net

    -

    138

    Operating lease right-of-use assets

    825,665

    -

    Investment in equity securities

    5,000,000

    -

    Deferred offering costs

    6,269

    -

    Other non-current assets

    302,262

    302,262

    Total assets
     
    $
    9,862,698

    $
    1,882,274

    Liabilities and Stockholders’ Equity (Deficit)

    Current liabilities:

    Accounts payable
     
    $
    245,196

    $
    111,149

    Accrued compensation and benefits

    62,907

    127,601

    Accrued liabilities

    62,074