CFOR 8-K

Date: May 13, 2021

OpGen, Inc.

/s/ Timothy C. Dec

Timothy C. Dec

Chief Financial Officer

CapForce Inc. (CFOR)

8-K 2021-05-13 For: 2021-05-13

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Added on April 06, 2026

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	OPGN	The Nasdaq Capital Market

	March 31, 2021			December 31, 2020
Assets
Current assets
Cash and cash equivalents	$	39,397,437		$	13,360,463
Accounts receivable, net		485,983			653,104
Inventory, net		1,417,440			1,485,986
Prepaid expenses and other current assets		1,472,666			1,388,090
Total current assets		42,773,526			16,887,643
Property and equipment, net		3,649,747			3,259,487
Finance lease right-of-use assets, net		338,673			449,628
Operating lease right-of-use assets		2,383,364			2,082,300
Goodwill		7,694,401			8,024,729
Intangible assets, net		15,656,651			16,580,963
Strategic inventory		2,057,016			1,686,342
Other noncurrent assets		602,220			779,953
Total assets	$	75,155,598		$	49,751,045
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$	1,249,461		$	1,868,666
Accrued compensation and benefits		2,286,441			2,126,511
Accrued liabilities		1,712,008			1,437,141
Deferred revenue		9,808			9,808
Current maturities of long-term debt		282,055			699,000
Short-term finance lease liabilities		183,533			266,470
Short-term operating lease liabilities		849,895			964,434
Total current liabilities		6,573,201			7,372,030
Long-term debt, net		19,430,641			19,378,935
Long-term finance lease liabilities		29,265			46,794
Long-term operating lease liabilities		2,737,211			1,492,544
Derivative liabilities		206,973			112,852
Other long-term liabilities		147,026			156,635
Total liabilities		29,124,317			28,559,790
Commitments and contingencies (Note 9)
Stockholders' equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued and outstanding at March 31, 2021 and December 31, 2020		—			—
Common stock, $0.01 par value; 50,000,000 shares authorized; 38,266,482 and 25,085,534 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively		382,665			250,855
Additional paid-in capital		259,766,331			219,129,045
Accumulated deficit		(215,586,418	)		(200,735,827	)
Accumulated other comprehensive income		1,468,703			2,547,182
Total stockholders’ equity		46,031,281			21,191,255
Total liabilities and stockholders’ equity	$	75,155,598		$	49,751,045

	Three months ended March,
	2021			2020
Revenue
Product sales	$	613,918		$	366,933
Laboratory services		97,726			—
Collaboration revenue		118,072			250,000
Total revenue		829,716			616,933
Operating expenses
Cost of products sold		554,054			276,554
Cost of services		104,984			137,666
Research and development		2,813,491			1,217,556
General and administrative		2,663,657			1,701,448
Sales and marketing		899,252			282,277
Transaction costs		—			245,322
Impairment of right-of-use asset		55,496			—
Impairment of intangibles assets		—			750,596
Total operating expenses		7,090,934			4,611,419
Operating loss		(6,261,218	)		(3,994,486	)
Other (expense) income
Warrant inducement expense		(7,755,541	)		—
Interest and other income		4,925			87,335
Interest expense		(1,164,982	)		(38,267	)
Foreign currency transaction losses		427,615			(3,876	)
Change in fair value of derivative financial instruments		(101,390	)		—
Total other (expense) income		(8,589,373	)		45,192
Loss before income taxes		(14,850,591	)		(3,949,294	)
Provision for income taxes		—			—
Net loss	$	(14,850,591	)	$	(3,949,294	)
Net loss available to common stockholders	$	(14,850,591	)	$	(3,949,294	)
Net loss per common share - basic and diluted	$	(0.50	)	$	(0.53	)
Weighted average shares outstanding - basic and diluted		29,485,067			7,393,232
Net loss	$	(14,850,591	)	$	(3,949,294	)
Other comprehensive (loss) income - foreign currency translation		(1,078,479	)		39,477
Comprehensive loss	$	(15,929,070	)	$	(3,909,817	)