Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 34

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 company
incorporated under the laws of the British Virgin Islands, which forms part of AEI Capital Group, with groupwide assets under management
exceeding $3.0 billion. In conjunction with the transaction, Mr. Lazar resigned as CEO, Chairman and Director of the Company, effective
August 2024, but he currently maintains a role as President. Subsequently, AEI Capital Ltd. paid the Company $2.45 million in August 2024
in exchange for the remaining 2,450,000 shares of Series E Preferred Stock. All 3,000,000 shares of Series E Preferred Stock were subsequently
converted into 7,200,000 shares of the Company’s common stock in August 2024.

23

Following the sale of control to AEI Capital Ltd., the Company further scaled down legacy operations while repositioning itself to operate in the financial
services and technology industry. In furtherance of such shift, the Company formed a wholly-owned subsidiary, CapForce International Holdings
Ltd. (“CapForce”), which launched a new business line offering listing sponsorship and consultancy services to international
companies seeking to list their securities on securities exchanges. Additionally, CapForce contemplates entering the financial technology
industry supporting digital investment banking activities and capital table management.

On
May 20, 2024, the Company effected a 1-for-10 reverse stock split of its issued and outstanding shares of common stock. All share
amounts and per share prices in this quarterly report have been adjusted to reflect the reverse stock split.

Subsequent
to the Company’s assignment of its office lease in April 2024, the Company has operated virtually. The Company operates in
one business segment.

Financial
Overview 

Revenue

Prior
to the repositioning of our business, we generated revenues from sales of our products, including sales of our products through our distribution
partners, such as our Unyvero instruments and consumables. We also generated revenue from sales by Ares Genetics of its AI-powered prediction
models and solutions. Revenues generated from our laboratory services related to services that we and our subsidiaries provided to customers.
Lastly, our collaboration revenues consisted of revenue received from research and development collaborations that we entered into with
third parties, such as our collaboration agreement with the Foundation for Innovative New Diagnostics.

Following
the acquisition of a controlling interest in the Company by AEI Capital Ltd. and the formation of CapForce as OpGen’s wholly-owned
subsidiary, we generate revenues