Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 1282

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 7
Chunk 1282
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 will expire on the five-year anniversary of the date of such stockholder approval. 

Note 9 – Income Taxes

The Company’s provision for income taxes consists of the following for the years ended December 31, 2024 and 2023:

    Schedule of provision for income taxes

    December 31,

    2024

    2023

    Current income tax provision

    Federal
     
    $
    -

    $
    -

    State

    26,768

    -

    Foreign

    149,894

    -

    Total

    176,662

    -

    Deferred income tax provision

    Federal

    -

    -

    State

    -

    -

    Foreign

    -

    -

    Total

    -

    -

    Total provision for income taxes
     
    $
    176,662

    $
    -

The Company’s deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows:

    Schedule of deferred tax assets and liabilities

    December 31,

    2024

    2023

    Deferred tax assets:

    NOL carryforward
     
    $
    85,790,968

    $
    89,055,237

    R&D credit carryforward

    2,559,479

    2,559,479

    Share-based compensation

    893,280

    729,693

    Interest expense

    -

    -

    ROU liabilities

    545,917

    553,374

    Deconsolidation of subsidiary

    18,171,409

    17,161,363

    Accruals and other

    4,148,610

    605,455

    Total deferred tax assets

    112,109,663

    110,664,601

    Valuation allowance

    (111,592,614
    )

    (110,358,421
    )
  
    Deferred tax liabilities:

    Intangible assets

    -

    -

    ROU assets

    (222,963
    )

    (35
    )
  
    Depreciation

    (294,086
    )

    (306,145
    )
  
    Net
     
    $
    -

    $
    -

    F-30

The difference between the Company’s expected income tax provision (benefit) from applying