Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 72

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 72
---
 Less: interest

    (751,817
    ) 
  
    Present value of lease liabilities
     
    $
    1,938,571

For the three and six months ended June 30, 2025,
lease costs of approximately $58,000 and $117,000 are classified as operating expense in the unaudited condensed consolidated statements
of operations. For the three and six months ended June 30, 2024, lease costs of approximately $58,000 and $117,000 are classified as operating
expense in the unaudited condensed consolidated statements of operations.

The remaining term of the lone operating lease
as of June 30, 2025 is 6.7 years and reflects a discount rate of 10%. In each of the six months ended June 30, 2025 and 2024, cash paid
for amounts under the lone operating lease were $116,992 and are classified as cash used in operating activities.

Note 11 – Joint Venture

In April 2025,
CapForce entered into a Joint Venture Agreement (the “JV Agreement”) with the European Credit Investment Bank
(“ECIB”), a full-fledged, global facing mid-shore investment bank in Labuan, Malaysia licensed by the Labuan Financial
Services Authority, pursuant to which the parties agreed to form a joint venture company named CapForce EC Capital Markets Ltd. (the
“Joint Venture”) for purposes of developing and operating a stock trading platform (the “Trading Platform”)
and digital investment banking platform across Asia and the rest of the world (the “Digital IB Platform,” and together
with the Trading Platform, the “Platforms”). The Platforms encompass (i) a community-focused cross border stock trading
platform; (ii) a FinTech-enabled cap table management platform; and (iii) an advanced computational model-enabled investment banking
advisory platform for public listing sponsorship and wealth management. Pursuant to the JV Agreement, CapForce will own 49%
of the outstanding equity interests of the Joint Venture, and ECIB will own 51%
of the outstanding equity interests of the Joint Venture. Under the JV Agreement, the parties agreed to strategically collaborate in
order to develop the Platforms. The parties agreed to equally split all profits earned by the Joint Venture and all capital
expenditures and operating expenses in the development and operation of the Trading Platform. With
respect to operations unrelated to the Trading Platform, CapForce will be entitled to receive 80% of the profits of