10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001558370-21-002093`
Period End Date	20201231
Filing Date	20210301
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	cycc-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 33 Cash Flow Statement 44 Stockholders Equity 20 Comprehensive Income 8

Balance Sheet 49 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.41M	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`	$2.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.02M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.47M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$106.00K	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$1.26M	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$1.23M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$15.31M	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`	$36.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.25M	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`	6.25M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$514.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$890.00K	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$1.97M	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`	$2.49M	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$1.06M	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$1.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.54M	USD	Point-in-time
Preferred stock, value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, value	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2019 and December 31, 2020; 859,998 and 6,246,896 shares issued and outstanding at December 31, 2019 and December 31, 2020.	`CommonStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2019 and December 31, 2020; 859,998 and 6,246,896 shares issued and outstanding at December 31, 2019 and December 31, 2020.	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$370.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$400.07M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-746.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-819.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-357.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-366.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$15.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.26M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.80M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$15.31M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Total revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.66M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.76M	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$5.88M	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$5.02M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$9.68M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$10.64M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-10.64M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-9.68M	USD	Annual
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$101.00K	USD	Annual
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$22.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$42.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$224.00K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$891.00K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$231.00K	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$556.00K	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$955.00K	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.13M	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.68M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.24M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.30M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.45M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.83M	USD	Annual
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsIncomeStatementImpact`	$201.00K	USD	Annual
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsIncomeStatementImpact`	$201.00K	USD	Annual
Beneficial conversion feature of Series B preferred stock	`PreferredStockConversionsInducements`	$3.77M	USD	Annual
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-8.03M	USD	Annual
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-12.42M	USD	Annual
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-3.42	USD	Annual
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-9.84	USD	Annual
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.63M	shares	Annual
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	816,080.00	shares	Annual

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.45M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.83M	USD	Annual
Depreciation	`Depreciation`	$20.00K	USD	Annual
Depreciation	`Depreciation`	$20.00K	USD	Annual
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$38.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$466.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$430.00K	USD	Annual
Changes in lease liability	`ChangesInLeaseLiability`	$-71.00K	USD	Annual
Changes in lease liability	`ChangesInLeaseLiability`	$-93.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-214.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-124.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$30.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-2.21M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.45M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.93M	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$96.00K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$38.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$28.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-96.00K	USD	Annual
Proceeds from issuing common stock, preferred stock and pre-funded warrants, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$29.70M	USD	Annual
Proceeds from issuing common stock, preferred stock and pre-funded warrants, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$4.05M	USD	Annual
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$201.00K	USD	Annual
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$201.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.85M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$29.50M	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-48.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$47.00K	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.62M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$21.52M	USD	Annual
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.41M	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`	$17.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.41M	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`	$224.00K	USD	Annual
Cash received during the period for: Interest	`ProceedsFromInterestReceived`	$42.00K	USD	Annual
Cash received during the period for: Taxes	`ProceedsFromIncomeTaxRefunds`	$1.16M	USD	Annual
Cash received during the period for: Taxes	`ProceedsFromIncomeTaxRefunds`	$1.29M	USD	Annual
Lease liability	`NonCashOperatingLeaseLiability`	$-1.50M	USD	Annual
Right-of-use asset	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.39M	USD	Annual
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	Annual
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$11.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$15.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.26M	USD	Point-in-time
Issue of common stock on At Market Issuance sales agreement, net of expenses	`StockIssuedDuringPeriodValueNewIssues`	$4.05M	USD	Annual
Issue of common stock, preferred stock, pre-funded warrants and warrants on equity financing, net of expenses	`IssueOfCommonStockPreferredStockPreFundedWarrantsAndWarrantsOnEquityFinancingNetOfExpenses`	$21.45M	USD	Annual
Beneficial conversion feature of Series B preferred stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$3.77M	USD	Annual
Warrant exercise	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$4.49M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$430.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$466.00K	USD	Annual
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalPreferredStockConversion`	$201.00K	USD	Annual
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalPreferredStockConversion`	$201.00K	USD	Annual
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$6.75M	USD	Annual
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$7.56M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-7.49M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.81M	USD	Annual
Loss for the period	`NetIncomeLoss`	$-8.45M	USD	Annual
Loss for the period	`NetIncomeLoss`	$-7.83M	USD	Annual
Balance	`StockholdersEquity`	$11.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$15.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.26M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.45M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.83M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-7.49M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.81M	USD	Annual
Unrealized foreign exchange gain on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$6.75M	USD	Annual
Unrealized foreign exchange gain on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$7.56M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.37M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-7.89M	USD	Annual

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