Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 519

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 1C
Chunk 519
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876
    )
     
    $
    (33,622
    )
     
    $
    -

Financial assets and liabilities carried at fair value on a non-recurring basis

As mentioned in Note 5, as of December 31, 2024, the Company held an investment in the equity securities of the Client valued at $5.0 million, which is classified as a current asset on the accompanying consolidated balance sheets. The investment was received as consideration for services rendered and represents a non-controlling equity interest in a privately held entity. The Company accounts for this investment under ASC 321, Investments – Equity Securities. Since the equity securities do not have a readily determinable fair value, the Company has elected the measurement alternative and, accordingly, it is carried at its estimated fair value calculated as its cost less any impairment charges until such time as there is evidence of an orderly transaction. As of December 31, 2024, no fair value adjustments have been recognized, nor have there been any impairment charges.

    F-22

Non-financial assets and liabilities carried at fair value on a recurring basis

The Company does not have any non-financial assets and liabilities measured at fair value on a recurring basis.

Non-financial assets and liabilities carried at fair value on a non-recurring basis

The Company measures its long-lived assets, including property and equipment and intangible assets, at fair value on a non-recurring basis when a triggering event requires such evaluation. During the year ended December 31, 2023, the Company recorded impairment expense of $1,231,874 related to its property and equipment (see Note 3) and $849,243 related to its operating lease right-of-use asset (see Note 3). In the Company’s Amended Form 10-Q for the three months ended March 31, 2024, the Company recorded a change in accounting estimate on the Company’s leasehold improvement property and equipment and operating lease right-of-use asset, adjusting the balances as of the beginning of the period to $1,230,332 and $849,243, respectively, following the Company’s identification of a subtenant (see Note 3). During the year ended December 31, 2024, the Company did not record any such impairment expenses.

Note 7 – Debt

EIB Loan Facility

In 2016, Curetis entered into a contract for an
up to €25.0
million senior, unsecured loan financing facility from the EIB. The