Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 11

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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4

    June 30, 2024

    December 31, 2023

    Cash and cash equivalents
     
    $
    831,634

    $
    1,310,653

    $
    168,114

    $
    1,151,823

    Restricted cash

    302,262

    302,262

    302,262

    302,262

    Total cash and cash equivalents and restricted cash in the condensed consolidated statements of cash flows
     
    $
    1,133,896

    $
    1,612,915

    $
    470,376

    $
    1,454,085

Accounts receivable and Credit concentration

The Company’s accounts receivable result from revenues earned but not yet collected from customers. Credit is extended based on an evaluation of a customer’s financial condition and, generally, collateral is not required. Accounts receivable are due within 30 to 90 days and are stated at amounts due from customers. The Company evaluates if an allowance is necessary by considering a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history and the customer’s current ability to pay its obligation. If amounts become uncollectible, they are charged to operations when that determination is made. The Company concluded no allowance was necessary as of June 30, 2025 and December 31, 2024.

At June 30, 2025, the Company had accounts receivable
from one customer that individually represented 99% of total accounts receivable. At December 31, 2024, the Company had accounts receivable
from one customer that individually represented 93% of total accounts receivable. For the three and six months ended June 30, 2025, revenue
earned from one customer represented 100% of total revenues. For the three months ended June 30, 2024, revenue earned from one customer
represented 100% of total revenues. For the six months ended June 30, 2024, revenue earned from two customers represented 48% and 14%
of total revenues.

At December 31, 2023, the Company had accounts receivable totaling
$103,316.

    9

Investments in equity securities

The Company currently has a single investment in equity securities issued by a privately held entity. In the fourth quarter of 2024, CapForce