10-K Filing

BIO GREEN MED SOLUTION, INC. CIK: 1130166 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001558370-24-003713`
Period End Date	20231231
Filing Date	20240321
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	cycc-20231231x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 29 Cash Flow Statement 43 Stockholders Equity 21 Comprehensive Income 8

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Redeemable common stock, par value (in dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Redeemable common stock, par value (in dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Redeemable common stock, shares issued	`TemporaryEquitySharesIssued`	207,807.00	shares	Point-in-time
Redeemable common stock, shares issued	`TemporaryEquitySharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.34M	USD	Point-in-time
Redeemable common stock, shares outstanding	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time
Redeemable common stock, shares outstanding	`TemporaryEquitySharesOutstanding`	207,807.00	shares	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.07M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.07M	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
Total current assets	`AssetsCurrent`	$7.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$24.41M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$32.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.00K	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$142.00K	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$93.00K	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$3.46M	USD	Point-in-time
Non-current deposits	`DepositsAssetsNoncurrent`	$1.26M	USD	Point-in-time
Total assets	`Assets`	$28.05M	USD	Point-in-time
Total assets	`Assets`	$8.80M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.56M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	628,139.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.06M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	628,139.00	shares	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$4.62M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$4.95M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.06M	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.51M	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$106.00K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$37.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.20M	USD	Point-in-time
Redeemable common stock, $0.001 par value; 0 shares issued and outstanding at December 31, 2023 and 207,807 shares issued and outstanding at December 31, 2022 (Note 11)	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	$4.49M	USD	Point-in-time
Redeemable common stock, $0.001 par value; 0 shares issued and outstanding at December 31, 2023 and 207,807 shares issued and outstanding at December 31, 2022 (Note 11)	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	-	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2023 and December 31, 2022; 1,058,892 shares issued and outstanding at December 31, 2023 and 628,139 shares issued and outstanding at December 31, 2022	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2023 and December 31, 2022; 1,058,892 shares issued and outstanding at December 31, 2023 and 628,139 shares issued and outstanding at December 31, 2022	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$422.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$429.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-908.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-405.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-428.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$37.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$15.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$607.00K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.80M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$28.05M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$420.00K	USD	Annual
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$19.16M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$20.27M	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$7.38M	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$6.72M	USD	Annual
Total operating expenses	`OperatingExpenses`	$25.87M	USD	Annual
Total operating expenses	`OperatingExpenses`	$27.66M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-27.66M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-25.45M	USD	Annual
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-414.00K	USD	Annual
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$233.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$266.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$210.00K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$50.00K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.30M	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$1.74M	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$-98.00K	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-25.55M	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-25.91M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.00M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-4.72M	USD	Annual
Net loss	`NetIncomeLoss`	$-21.20M	USD	Annual
Net loss	`NetIncomeLoss`	$-22.55M	USD	Annual
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsIncomeStatementImpact`	$201.00K	USD	Annual
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsIncomeStatementImpact`	$201.00K	USD	Annual
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-21.40M	USD	Annual
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-22.76M	USD	Annual
Net loss per share - diluted	`EarningsPerShareDiluted`	$-27.24	USD	Annual

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-21.20M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-22.55M	USD	Annual
Depreciation	`Depreciation`	$31.00K	USD	Annual
Depreciation	`Depreciation`	$32.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.47M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.51M	USD	Annual
Changes in lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-69.00K	USD	Annual
Changes in lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$40.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.78M	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.71M	USD	Annual
Accounts payable, accrued and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$296.00K	USD	Annual
Accounts payable, accrued and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$2.58M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-20.83M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-16.11M	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.00K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.00K	USD	Annual
Proceeds, net of issuance costs, from issuing common stock and warrants	`ProceedsFromIssuanceOfCommonStockAndWarrantExercisesNetOfIssuanceCosts`	$3.20M	USD	Annual
Proceeds, net of issuance costs, from issuing common stock and warrants	`ProceedsFromIssuanceOfCommonStockAndWarrantExercisesNetOfIssuanceCosts`	$1.05M	USD	Annual
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$201.00K	USD	Annual
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$201.00K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$848.00K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.00M	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$303.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-378.00K	USD	Annual
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-14.97M	USD	Annual
Net (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-18.21M	USD	Annual
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.38M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.34M	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`	$3.38M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.34M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.56M	USD	Point-in-time
Interest	`ProceedsFromInterestReceived`	$211.00K	USD	Annual
Interest	`ProceedsFromInterestReceived`	$266.00K	USD	Annual
Research & Development Tax Credits	`ProceedsFromIncomeTaxRefunds`	$4.85M	USD	Annual
Research & Development Tax Credits	`ProceedsFromIncomeTaxRefunds`	$3.31M	USD	Annual
Taxes	`IncomeTaxesPaidNet`	$2.00K	USD	Annual
Taxes	`IncomeTaxesPaidNet`	$2.00K	USD	Annual
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	Annual
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	Annual
Accretion on redeemable common stock	`AccretionOnRedeemableCommonStock`	$135.00K	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$37.69M	USD	Point-in-time
Balance	`StockholdersEquity`	$15.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$607.00K	USD	Point-in-time
Issue of common stock in At Market Issuance sales agreement, net of expenses	`StockIssuedDuringPeriodValueAtMarketIssuanceSalesAgreement`	$478.00K	USD	Annual
Issue of common stock and pre-funded warrants in Securities Purchase Agreement In Registered Direct Offering, net of expenses	`IssueOfCommonStockPreferredStockPreFundedWarrantsAndWarrantsOnEquityFinancingNetOfExpenses`	$1.05M	USD	Annual
Reclassification of redeemable common stock	`IncreaseInCarryingAmountOfRedeemableCommonStock`	$1.64M	USD	Annual
Reclassification of redeemable common stock	`IncreaseInCarryingAmountOfRedeemableCommonStock`	$-4.49M	USD	Annual
Accretion on redeemable common stock	`AccretionOnRedeemableCommonStock`	$135.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.47M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.51M	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`	$-21.17M	USD	Annual
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$12.55M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$20.60M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-12.14M	USD	Annual
Loss for the period	`NetIncomeLoss`	$-21.20M	USD	Annual
Loss for the period	`NetIncomeLoss`	$-22.55M	USD	Annual
Balance	`StockholdersEquity`	$37.69M	USD	Point-in-time
Balance	`StockholdersEquity`	$15.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$607.00K	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-21.20M	USD	Annual
Net loss	`NetIncomeLoss`	$-22.55M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$20.60M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-12.14M	USD	Annual
Unrealized foreign exchange gain (loss) on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-21.17M	USD	Annual
Unrealized foreign exchange gain (loss) on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$12.55M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-21.77M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-22.15M	USD	Annual

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