Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 89

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2
Chunk 89
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 Research and development expenses consisted primarily of expenses incurred in connection with our clinical and pre-clinical
research activities. Selling, general and administrative expenses consisted of public company costs, salaries, and related costs for administrative,
sales, and business development personnel.

Following
the acquisition of a controlling interest in the Company by AEI Capital Ltd. and the formation of CapForce as OpGen’s wholly-owned
subsidiary, the Company’s cost of sales will primarily be subcontractor and advisor fees and technology infrastructure costs associated
with providing our services. Research and development expenses consist of fees to expand and innovate CapForce’s digital investment
banking platform, and selling, general, and administrative expenses continue to consist of public company costs, salaries, and related
costs for administrative and business development purposes.

24

Results
of operations for the three months ended June 30, 2025 and 2024

Revenues

    Three Months Ended
        June 30,

    2025

    2024

    Product sales
     
    $
    -

    $
    28,000

    Laboratory services

    -

    -

    Listing sponsorship services

    4,000,000

    -

    Total revenue
     
    $
    4,000,000

    $
    28,000

We recognized revenue in the three months ended June 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. 

Operating
expenses

    Three Months Ended
        June 30,

    2025

    2024

    Cost of products sold
     
    $
    -

    $
    (41,600
    )
  
    Cost of services

    -

    -

    Research and development

    -

    22,964

    General and administrative

    594,838

    1,568,619

    Sales and marketing

    2,387

    25,327

    Total operating expenses
     
    $
    597,225

    $
    1,575,310

Our
total operating expenses for the three months ended June 30, 2025 decreased approximately 62% when compared to the same period in
2024. Operating expenses changed as follows:

●Cost
                                            of products sold: we had no cost