10-Q Filing

BIO GREEN MED SOLUTION, INC. CIK: 1130166 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-008528`
Period End Date	20220331
Filing Date	20220512
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	cycc-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 36 Cash Flow Statement 38 Stockholders Equity 20 Comprehensive Income 8

Balance Sheet 50 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`	$29.64M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.38M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$36.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.94M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$57.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$64.00K	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$15.00K	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`	$30.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$2.98M	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
Non-current deposits	`DepositsAssetsNoncurrent`	$1.55M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.99M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.99M	shares	Point-in-time
Total assets	`Assets`	$42.59M	USD	Point-in-time
Total assets	`Assets`	$39.63M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.99M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.99M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.85M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$3.18M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$3.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.20M	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$15.00K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$30.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$6.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.32M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2021 and March 31, 2022; 9,993,135 shares issued and outstanding at December 31, 2021 and March 31, 2022.	`CommonStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2021 and March 31, 2022; 9,993,135 shares issued and outstanding at December 31, 2021 and March 31, 2022.	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$423.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$422.96M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-823.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-748.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-384.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-389.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$37.26M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.41M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$48.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.26M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$42.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$39.63M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.95M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.57M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.60M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.30M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.56M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.56M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.30M	USD	1 Quarter
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$29.00K	USD	1 Quarter
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$10.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$126.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$1.28M	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$140.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$1.31M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.25M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.17M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.14M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-687.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.48M	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`	$-3.53M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-4.16M	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.42	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.50	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.50	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.42	USD	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.99M	shares	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.01M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.01M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.99M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Depreciation	`Depreciation`	$9.00K	USD	1 Quarter
Depreciation	`Depreciation`	$9.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$255.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$380.00K	USD	1 Quarter
Changes in lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-13.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$609.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.13M	USD	1 Quarter
Accounts payable, accrued and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$270.00K	USD	1 Quarter
Accounts payable, accrued and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$1.07M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.57M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.78M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$78.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-78.00K	USD	1 Quarter
Proceeds, net of issuance costs, from issuing common stock and warrants	`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 (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$18.00M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-91.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$14.37M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.92M	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`	$36.56M	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`	$29.64M	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`	$36.56M	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`	$29.64M	USD	Point-in-time
Interest	`ProceedsFromInterestReceived`	$4.00K	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`	$37.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$48.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.26M	USD	Point-in-time
Issue of common stock and associated warrants on underwritten offering, net of expenses	`StockIssuedDuringPeriodValueNewIssues`	$13.50M	USD	1 Quarter
Warrant Exercises	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$4.54M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$380.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$255.00K	USD	1 Quarter
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$50.00K	USD	1 Quarter
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$50.00K	USD	1 Quarter
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$1.60M	USD	1 Quarter
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-5.88M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.58M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.80M	USD	1 Quarter
Loss for the period	`NetIncomeLoss`	$-4.11M	USD	1 Quarter
Loss for the period	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Balance	`StockholdersEquity`	$37.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$48.05M	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`	$-4.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.58M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.80M	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`	$-5.88M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.46M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.18M	USD	1 Quarter

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