OpGen(US:OPGN)2025-10-31 20:34Revenue and Income - OpGen generated total revenue of $4.0 million in the three months ended June 30, 2025, primarily from listing sponsorship services, compared to $28,000 in the same period of 2024[136]. - The company reported a net income of $3.1 million for the six months ended June 30, 2025, with noncash share-based compensation of $0.2 million and changes in operating assets and liabilities of $(4.0 million)[148]. Operating Expenses - Total operating expenses for the three months ended June 30, 2025 decreased approximately 62% to $597,225 from $1,575,310 in the same period of 2024[137]. - General and administrative expenses for the six months ended June 30, 2025 were $1,108,182, down approximately 66% from $3,252,770 in the same period of 2024[142]. - Research and development expenses decreased approximately 100% for the six months ended June 30, 2025 compared to the same period in 2024, aligning with the company's strategic repositioning[142]. Cash and Financing - As of June 30, 2025, OpGen had cash and cash equivalents of $0.8 million, a decrease from $1.3 million at December 31, 2024[144]. - The company anticipates funding operations primarily through financing arrangements with AEI Capital Ltd., including a $5.0 million gross proceeds transaction in 2024[145]. - For the six months ended June 30, 2025, net cash used in operating activities was $(645,337), compared to $(1,804,262) for the same period in 2024, indicating an improvement[147]. - Net cash provided by financing activities for the six months ended June 30, 2025 was $166,318, while for 2024 it was $820,553, primarily from preferred stock issuance and short-term insurance financing[151]. Strategic Changes - Following the acquisition by AEI Capital Ltd., OpGen formed a wholly-owned subsidiary, CapForce, to offer listing sponsorship and consultancy services[130]. - The company scaled down legacy operations and repositioned itself in the financial services and technology industry, ceasing product sales and laboratory services[141]. - Future funding requirements will focus on revenue growth and operating expenses, with financing opportunities expected to be utilized strategically[153]. Insolvency and Deconsolidation - Curetis and Ares Genetics filed for insolvency in November 2023, leading to their deconsolidation from OpGen's financial statements[126]. Stock and Securities - In March 2024, the company entered into a securities purchase agreement to sell 3,000,000 shares of Series E Convertible Preferred Stock at $1.00 per share, resulting in gross proceeds of $3.0 million[146]. Other Financial Information - The company did not use any cash in investing activities during the six months ended June 30, 2025 or 2024[150]. - The company has no material contractual commitments as of June 30, 2025, other than a continuing liability under a former office lease[152]. - The company did not have any off-balance sheet arrangements as of June 30, 2025[157]. - As a smaller reporting company, the company is not required to provide detailed market risk disclosures[158].