Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 304

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 1B
Chunk 304
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 October 2024, we entered into a First Amendment (the “Amendment”) to the securities purchase agreement with AEI Capital Ltd. whereby we were: (i) granted the right to sell two additional tranches of common stock to AEI Capital Ltd. of $3.0 million each, for an aggregate amount of $9.0 million under the securities purchase agreement; and (ii) our ability to sell shares of common stock to AEI Capital Ltd. under the securities purchase agreement was extended until December 31, 2025. 

Sources and uses of cash

The following table summarizes the net cash provided by (used in) operating activities, investing activities and financing activities for the periods indicated:

    Years ended December 31,

    2024

    2023

    Net cash provided by (used in)

     Operating activities
     
    $
    (4,869,744
    )
     
    $
    (14,319,542
    )
  
     Investing activities

    -

    (800,412
    )
  
    Financing activities

    5,028,574

    8,373,314

    Net increase (decrease) in cash and cash equivalents
     
    $
    158,830

    $
    (6,746,640
    )

26

Net cash used in operating activities

Net cash used in operating activities in 2024 consisted primarily of our net income of $12.0 million, adjusted for certain non-cash items, including the change in fair value of the EIB loan guaranty of $10.9 million, the gain on impairment adjustment of $2.1 million, and the net change in operating assets and liabilities of $4.1 million. Net cash used in operating activities in 2023 consisted primarily of our net loss of $32.7 million, adjusted for certain non-cash items, including loss on deconsolidation of subsidiaries of $13.0 million, depreciation and amortization expense of $1.3 million, non-cash interest of $1.7 million, impairment of property and equipment of $1.2 million, impairment of right-of-use asset of $0.8 million, and change in inventory reserve of $0.8 million, partially offset by the net change in operating assets and liabilities of $1.0 million.

Net cash used in investing activities

Net cash used in investing activities in 2023 consisted of purchases of property and equipment.