OpGen(US:OPGN)2025-11-19 22:15Revenue Generation - OpGen generated $4.0 million in revenue from listing sponsorship and consulting services in the nine months ended September 30, 2025, compared to $196,149 in total revenue for the same period in 2024[138]. - The company did not generate any revenues in the three months ended September 30, 2025, and 2024, due to the scaling down of legacy operations[134]. - The company anticipates generating revenues from CapForce's ventures in cross-border securities trading and digital investment banking activities[131]. Operating Expenses - Total operating expenses for the nine months ended September 30, 2025, decreased approximately 57% to $1.82 million from $4.27 million in the same period in 2024[139]. - General and administrative expenses for the three months ended September 30, 2025, were $701,915, a decrease of approximately 9% from $768,551 in the same period in 2024[135]. Research and Development - Research and development expenses decreased approximately 100% for the nine months ended September 30, 2025, compared to the same period in 2024, aligning with the company's strategic repositioning[139]. Cash and Liquidity - As of September 30, 2025, OpGen had cash and cash equivalents of $0.4 million, down from $1.3 million at December 31, 2024[141]. - Net cash used in operating activities for the nine months ended September 30, 2025 was $(978,685), compared to $(4,637,508) for the same period in 2024[144]. - Net cash provided by financing activities for the nine months ended September 30, 2025 was $82,243, compared to $5,118,851 in 2024[148][149]. - The company anticipates funding operations primarily through financing arrangements with AEI Capital Ltd. until the operating business can sustain itself[151]. - The company has no material contractual commitments as of September 30, 2025, other than a continuing liability under a former office lease[150]. - The company has the right to sell up to $7.0 million of additional shares of common stock to AEI Capital Ltd. until December 31, 2025[143]. - As of September 30, 2025, there were no off-balance sheet arrangements[155]. Financial Performance - The company reported a net income of $2.5 million for the nine months ended September 30, 2025, down from $7.6 million in 2024[145][146]. - No cash was used in investing activities during the nine months ended September 30, 2025 or 2024[147]. Corporate Actions - Following the acquisition by AEI Capital Ltd., the company formed a wholly-owned subsidiary, CapForce, to offer listing sponsorship and consultancy services[128]. - In March 2024, the company sold 3,000,000 shares of Series E Convertible Preferred Stock to David E. Lazar for gross proceeds of $3.0 million, with 550,000 shares sold initially for $550,000[143]. - As of September 30, 2024, the company sold 1,079,109 shares of common stock to AEI Capital Ltd. for gross proceeds of $2.0 million[143]. - Curetis and Ares Genetics filed for insolvency in November 2023, leading to their deconsolidation from OpGen's financial statements[125]. Strategic Initiatives - The company implemented cash management initiatives in November 2023, including restructuring U.S. operations and reducing headcount[124].