10-Q Filing

BIO GREEN MED SOLUTION, INC. CIK: 1130166 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-21-007255`
Period End Date	20210331
Filing Date	20210514
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	cycc-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 33 Cash Flow Statement 39 Stockholders Equity 20 Comprehensive Income 8

Balance Sheet 48 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`	$47.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.41M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$50.46M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$173.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$106.00K	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
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$1.18M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total assets	`Assets`	$51.82M	USD	Point-in-time
Total assets	`Assets`	$36.80M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.23M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.23M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$514.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$871.00K	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$1.97M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$1.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.77M	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$1.06M	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$996.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.77M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2020 and March 31, 2021; 6,246,896 and 9,234,110 shares issued and outstanding at December 31, 2020 and March 31, 2021	`CommonStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2020 and March 31, 2021; 6,246,896 and 9,234,110 shares issued and outstanding at December 31, 2020 and March 31, 2021	`CommonStockValue`	$9.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$418.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$400.07M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-730.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-746.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-369.55M	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`	$48.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.39M	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`	$51.82M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.57M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.11M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.74M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.32M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.42M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$4.30M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.42M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.30M	USD	1 Quarter
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$69.00K	USD	1 Quarter
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$10.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$28.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$817.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$126.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$140.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$914.00K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.51M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.17M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-290.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-687.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.22M	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`	$-1.27M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-3.53M	USD	1 Quarter
Net loss per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.50	USD	1 Quarter
Net loss per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.48	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.10M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.20M	shares	Point-in-time
Weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	859,998.00	shares	1 Quarter

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Depreciation	`Depreciation`	$9.00K	USD	1 Quarter
Depreciation	`Depreciation`	$5.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$91.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$255.00K	USD	1 Quarter
Changes in lease liability	`ChangesInLeaseLiability`	$-13.00K	USD	1 Quarter
Changes in lease liability	`ChangesInLeaseLiability`	$-10.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$609.00K	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`	$270.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.57M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.81M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$78.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-78.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00K	USD	1 Quarter
Proceeds from issuing common stock and warrant exercises, net of issuance costs	`ProceedsFromIssuanceOfCommonStockAndWarrantExercisesNetOfIssuanceCosts`	$18.05M	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`	$18.00M	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`	$-101.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.96M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$14.37M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.41M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$47.78M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.88M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.92M	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`	$47.78M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.88M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.92M	USD	Point-in-time
Interest	`ProceedsFromInterestReceived`	$28.00K	USD	1 Quarter
Interest	`ProceedsFromInterestReceived`	$5.00K	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 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$11.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$48.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.26M	USD	Point-in-time
Issuance of common stock in underwritten offering, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$13.50M	USD	1 Quarter
Warrant exercise	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$4.54M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$91.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$255.00K	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`	$1.60M	USD	1 Quarter
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-11.19M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.58M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$11.06M	USD	1 Quarter
Loss for the period	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Loss for the period	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Balance	`StockholdersEquity`	$11.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$48.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.39M	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`	$-3.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.58M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$11.06M	USD	1 Quarter
Unrealized foreign exchange gain (loss) on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$1.60M	USD	1 Quarter
Unrealized foreign exchange gain (loss) on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-11.19M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.35M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.46M	USD	1 Quarter

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