Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 73

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 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 any activity pursuant to this JV Agreement.

    21

Note 12 – Subsequent Events

The Company evaluates subsequent events and transactions
that occur after the balance sheet date up to October 31, 2025, the date that these unaudited condensed consolidated financial statements
are issued.

Other than as disclosed in this Note and as may
be disclosed elsewhere in the notes to the accompanying unaudited condensed consolidated financial statements, there have been no subsequent
events that require adjustment or disclosure in the accompanying unaudited condensed consolidated financial statements.

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Item 2. Management’s
Discussion and Analysis of Financial Condition and Results of Operations

The
following Management’s Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with
the unaudited condensed consolidated financial statements and the accompanying notes thereto included in Part I, Item 1 of this quarterly
report on Form 10-Q. This discussion contains forward-looking statements, based on current expectations and related to future events and
our future financial performance, that involve risks and uncertainties. Our actual results may differ materially from those anticipated
in these forward-looking statements as a result of many important factors, including those set forth under Part II. Item 1A. “Risk
Factors” of this quarterly report on Form 10-Q and Part 1. Item 1A of our annual report on Form 10-K for