Company: OPGN
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001829126-25-009312
Chunk: 86

Company: OPGEN INC
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 2
Chunk 86
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    9,738,487

    Gain on settlement of compensation expenses

    -

    570,785

    Change in fair value of EIB loan guaranty

    -

    (683,200
    )
  
    Foreign currency transaction losses

    -

    (2
    )
  
    Total other income (expense)
     
    $
    93,455

    $
    9,714,963

Our total other income for the three months ended September 30, 2025 consisted primarily of sublease income. Our total other expense for the three months ended September 30, 2024 consisted primarily of the recognition of a gain on extinguishment of debt following the Company’s settlement of the EIB loan guaranty in August 2024, the recognition of a gain on settlement of compensation expenses following the Company’s settlement of deferred and accrued compensation and severance expenses with the Company’s former CEO, David E. Lazar, and the change in fair value of our EIB loan guaranty.

25

Results of operations for the nine months ended September 30, 2025 and 2024

Revenues

    Nine Months Ended September 30,

    2025

    2024

    Product sales
     
    $
    -

    $
    169,373

    Laboratory services

    -

    26,776

    Listing sponsorship services

    4,000,000

    -

    Total revenue
     
    $
    4,000,000

    $
    196,149

We recognized revenue in the nine months ended September 30, 2025 solely related to our single contract to provide listing sponsorship and consulting services, as CapForce completed the second performance obligation within the Engagement Agreement, earning proceeds of $4.0 million in the Client’s equity. We did not generate any product sales or laboratory services revenue in the nine months ended September 30, 2025, due to the winding down of our legacy precision medicine business and repositioning ourselves in the financial services and technology industry.

Operating expenses

    Nine Months Ended September 30,

    2025

    2024

    Cost of products sold
     
    $
    -

    $
    31,636

    Cost of services

    -

    1,575

    Research and development

    -

    49,308

    General and administrative

    1,810,097

    4,