10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001558370-22-004769`
Period End Date	20211231
Filing Date	20220330
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	cycc-20211231x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 39 Cash Flow Statement 42 Stockholders Equity 22 Comprehensive Income 8

Balance Sheet 51 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`	$36.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.41M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.38M	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`	$40.94M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$64.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$106.00K	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`	$1.23M	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`	$30.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$1.55M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total assets	`Assets`	$42.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.99M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.25M	shares	Point-in-time
Total assets	`Assets`	$36.80M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.99M	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`	$2.12M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$1.97M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$3.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.29M	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`	$30.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.32M	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, 2020 and December 31, 2021; 6,246,896 and 9,993,135 shares issued and outstanding at December 31, 2020 and December 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 December 31, 2021; 6,246,896 and 9,993,135 shares issued and outstanding at December 31, 2020 and December 31, 2021.	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$422.96M	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`	$-748.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-366.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-384.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.26M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$37.26M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$42.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.80M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	8 Qtrs
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$15.48M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.76M	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$5.88M	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$7.46M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$22.94M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$10.64M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-10.64M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-22.94M	USD	Annual
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$44.00K	USD	Annual
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$22.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$16.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$42.00K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$891.00K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$144.00K	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$955.00K	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$204.00K	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-22.73M	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.68M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.85M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.24M	USD	Annual
Net loss	`NetIncomeLoss`	$-18.89M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.45M	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`	-	USD	Annual
Beneficial conversion feature of Series B preferred stock	`PreferredStockConversionsInducements`	$3.77M	USD	Annual
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-12.42M	USD	Annual
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-19.09M	USD	Annual
Net loss per share - Basic	`EarningsPerShareBasic`	$-3.42	USD	Annual
Net loss per share - Basic	`EarningsPerShareBasic`	$-2.14	USD	Annual
Net loss per share - diluted	`EarningsPerShareDiluted`	$-2.14	USD	Annual
Net loss per share - diluted	`EarningsPerShareDiluted`	$-3.42	USD	Annual
Weighted average common shares outstanding Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.63M	shares	Annual
Weighted average common shares outstanding Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.93M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.63M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.93M	shares	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-18.89M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.45M	USD	Annual
Depreciation	`Depreciation`	$20.00K	USD	Annual
Depreciation	`Depreciation`	$43.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.16M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$430.00K	USD	Annual
Changes in lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$172.00K	USD	Annual
Changes in lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-93.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.93M	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-124.00K	USD	Annual
Accounts payable, accrued and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$2.91M	USD	Annual
Accounts payable, accrued and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$30.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.93M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-18.54M	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$96.00K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-96.00K	USD	Annual
Proceeds from issuing common stock and warrants net of issuance costs	`ProceedsFromIssuanceOfCommonStockAndWarrantExercisesNetOfIssuanceCosts`	$17.37M	USD	Annual
Proceeds from issuing common stock and warrants net of issuance costs	`ProceedsFromIssuanceOfCommonStockAndWarrantExercisesNetOfIssuanceCosts`	$25.16M	USD	Annual
Proceeds from the exercise of stock options and warrants, net of issuance costs	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	$4.54M	USD	Annual
Proceeds from the exercise of stock options and warrants, net of issuance costs	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	$4.57M	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`	$21.74M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$29.50M	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$47.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-17.00K	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$21.52M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.15M	USD	Annual
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, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.56M	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 and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.56M	USD	Point-in-time
Interest	`ProceedsFromInterestReceived`	$42.00K	USD	Annual
Interest	`ProceedsFromInterestReceived`	$17.00K	USD	Annual
Research & Development Tax Credits	`ProceedsFromIncomeTaxRefunds`	$1.36M	USD	Annual
Research & Development Tax Credits	`ProceedsFromIncomeTaxRefunds`	$1.29M	USD	Annual
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	Annual
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	Annual

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$33.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$37.26M	USD	Point-in-time
Issue of common stock, preferred stock and associated warrants on underwritten offering, net of expenses	`StockIssuedDuringPeriodValueNewIssues`	$13.50M	USD	Annual
Issue of common stock, preferred stock and associated warrants on underwritten offering, net of expenses	`StockIssuedDuringPeriodValueNewIssues`	$21.45M	USD	Annual
Beneficial conversion feature of Series B preferred stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$3.77M	USD	Annual
Issue of common stock on At Market Issuance sales agreement	`StockIssuedDuringPeriodValueAtMarketIssuanceSalesAgreement`	$3.87M	USD	Annual
Warrant & stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.49M	USD	Annual
Warrant & stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.57M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.16M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$430.00K	USD	Annual
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$201.00K	USD	Annual
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$201.00K	USD	Annual
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-2.12M	USD	Annual
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$7.56M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.12M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-7.49M	USD	Annual
Loss for the period	`NetIncomeLoss`	$-18.89M	USD	Annual
Loss for the period	`NetIncomeLoss`	$-8.45M	USD	Annual
Balance	`StockholdersEquity`	$33.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$37.26M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-18.89M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.45M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.12M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-7.49M	USD	Annual
Unrealized foreign exchange gain (loss) on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-2.12M	USD	Annual
Unrealized foreign exchange gain (loss) on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$7.56M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.37M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-18.89M	USD	Annual

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