OpGen Q3 revenue $0.7M; subsidiaries Curetis & Ares Genetics file insolvency, going concern doubt

CapForce Inc.

Total revenue Q3 2023 $0.70M vs $0.45M; nine-month $2.35M vs $1.89M.
Cash and equivalents $0.29M at Sep 30; subsequent financing raised ~$3.06M but substantial doubt about going concern.
Subsidiaries Curetis GmbH and Ares Genetics GmbH filed for insolvency Nov 6, 2023 under German/Austrian laws.
OpGen reduced U.S. headcount from 23 to 6; discontinued Acuitas AMR Gene Panel test.
Total operating expenses Q3 2023 $4.26M vs $13.96M (incl. $6.98M goodwill impairment in prior year).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CapForce Inc. reported third quarter 2023 results: revenue approximately $0.70 million.

Period: third quarter 2023
Revenue: approximately $0.70 million
Result: reported results

Exact text from the filing

its third quarter 2023 financial and operating results. Third Quarter 2023 Financial Results of OpGen, Inc. · Total revenue for the third quarter of 2023 was approximately $0.70 million compared to the Company’s revenue of approximately $0.45 million in the third quarter of 2022. Total revenue for the nine months ended September 30, 2023 was approximately $2.35

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Source: SEC EDGAR

accession 0001079973-23-001602

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