Company: OPGN
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001829126-25-009312
Chunk: 90

Company: OPGEN INC
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 2
Chunk 90
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 reduced by certain non-cash
items, including the change in the fair value of the EIB loan guaranty of $10.9 million, gain on impairment adjustment of $2.1 million,
and gain on settlement of compensation expenses of $0.6 million.

Net cash used in investing activities

We used no cash in investing activities during the nine months ended September 30, 2025 or 2024.

Net cash provided by financing activities

Net cash provided by financing activities for the nine months ended September 30, 2025 consists solely of proceeds and payments related to our short-term insurance financing.

Net cash provided by financing activities for the nine months ended September 30, 2024 consisted primarily of proceeds from the issuance of preferred stock in connection with the March 2024 Purchase Agreement with David E. Lazar and, subsequently, AEI Capital Ltd., as assignee from Mr. Lazar, and proceeds from the issuance of common stock in connection with the August 2024 Securities Purchase Agreement with AEI Capital Ltd.

Contractual Commitments 

Other than the continuing liability under our former headquarters’ office lease, which lease was assigned to a third party in April 2024, the Company has no other material contractual commitments as of September 30, 2025.

Funding requirements

Going forward, our primary use of cash is to fund the Company’s revenue growth and
operating expenses, including those costs for general administrative, digital investment banking platform development and maintenance,
and corporate purposes. Our future funding requirements will depend on the costs associated with repositioning our business and complying
with our obligations as a public company. We cannot provide any assurances that additional financing will not be required in the future
to support our operations, but we intend to use financing opportunities strategically to continue strengthening our financial position
and, in the near term, we anticipate funding our operations primarily through financing arrangements with AEI Capital Ltd., our controlling
shareholder, until our operating business is able to sustain our operations.

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Critical accounting policies and use of estimates

This Management’s Discussion and Analysis of Financial Condition and Results of Operations is based on our unaudited condensed consolidated financial statements, which have been prepared in accordance with GAAP. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In our unaudited condensed