10-Q Filing

BIO GREEN MED SOLUTION, INC. CIK: 1130166 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-20-006443`
Period End Date	20200331
Filing Date	20200512
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	cycc-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 31 Cash Flow Statement 44 Stockholders Equity 19 Comprehensive Income 8

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.13M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.81M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$1.26M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$1.15M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total assets	`Assets`	$15.31M	USD	Point-in-time
Total assets	`Assets`	$12.99M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	859,998.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	859,998.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	859,998.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	859,998.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$890.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$250.00K	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$1.27M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.52M	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$1.07M	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$1.19M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$2.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.61M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2019 and March 31, 2020; 859,998 and 859,998 shares issued and outstanding at December 31, 2019 and March 31, 2020.	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2019 and March 31, 2020; 859,998 and 859,998 shares issued and outstanding at December 31, 2019 and March 31, 2020.	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$370.18M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$370.14M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-946.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-819.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-358.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-357.63M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.55M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$15.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$15.31M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.99M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.11M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.01M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.32M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.19M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.42M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.20M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.42M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.20M	USD	1 Quarter
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$15.00K	USD	1 Quarter
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$69.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$79.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$28.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$817.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$914.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$94.00K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.11M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.51M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-290.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-268.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.84M	USD	1 Quarter
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsIncomeStatementImpact`	$50.00K	USD	1 Quarter
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsIncomeStatementImpact`	$50.00K	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-1.89M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-1.27M	USD	1 Quarter
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-2.77	USD	1 Quarter
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.48	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	859,998.00	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	681,910.00	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.84M	USD	1 Quarter
Depreciation	`Depreciation`	$6.00K	USD	1 Quarter
Depreciation	`Depreciation`	$5.00K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$29.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$85.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$91.00K	USD	1 Quarter
Changes in lease liability	`ChangesInLeaseLiability`	$-10.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.22M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$874.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-799.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-689.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.81M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.68M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$29.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$27.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00K	USD	1 Quarter
Proceeds from issuing common stock, net of issuance costs (Payments of issuance costs)	`ProceedsFromIssuanceOfCommonStock`	$4.11M	USD	1 Quarter
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$50.00K	USD	1 Quarter
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$50.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.06M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-101.00K	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$430.00K	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.96M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.93M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.92M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.88M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.93M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.92M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.88M	USD	Point-in-time
Cash received during the period for: Interest	`ProceedsFromInterestReceived`	$79.00K	USD	1 Quarter
Cash received during the period for: Interest	`ProceedsFromInterestReceived`	$28.00K	USD	1 Quarter
Cash received during the period for: Taxes	`ProceedsFromIncomeTaxRefunds`	-	USD	1 Quarter
Cash received during the period for: Taxes	`ProceedsFromIncomeTaxRefunds`	-	USD	1 Quarter
Lease liability	`NonCashOperatingLeaseLiability`	$-1.50M	USD	1 Quarter
Right-of-use asset	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.39M	USD	1 Quarter
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	1 Quarter
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$17.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$15.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.70M	USD	Point-in-time
Issue of common stock on At Market Issuance sales agreement, net of expenses	`StockIssuedDuringPeriodValueNewIssues`	$4.11M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$85.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$91.00K	USD	1 Quarter
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalPreferredStockConversion`	$50.00K	USD	1 Quarter
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalPreferredStockConversion`	$50.00K	USD	1 Quarter
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-11.19M	USD	1 Quarter
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$3.88M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.90M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$11.06M	USD	1 Quarter
Loss for the period	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Loss for the period	`NetIncomeLoss`	$-1.84M	USD	1 Quarter
Balance	`StockholdersEquity`	$17.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$15.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.70M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.84M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.90M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$11.06M	USD	1 Quarter
Unrealized foreign exchange gain on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-11.19M	USD	1 Quarter
Unrealized foreign exchange gain on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$3.88M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.86M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.35M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.