10-Q Filing

BIO GREEN MED SOLUTION, INC. CIK: 1130166 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001571049-16-019869`
Period End Date	20160930
Filing Date	20161114
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	cycc-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 72 Cash Flow Statement 45 Comprehensive Income 16

Balance Sheet 60 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`	$20.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.73M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	335,273.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.03M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	335,273.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.19M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	335,273.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.05M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	335,273.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.52M	USD	Point-in-time
Current assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$75.00K	USD	Point-in-time
Current assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$29.00K	USD	Point-in-time
Preferred stock, liquidation preference value (in dollars)	`PreferredStockLiquidationPreferenceValue`	$4.01M	USD	Point-in-time
Preferred stock, liquidation preference value (in dollars)	`PreferredStockLiquidationPreferenceValue`	$4.01M	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 current assets	`AssetsCurrent`	$24.57M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.58M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property, plant and equipment (net)	`PropertyPlantAndEquipmentNet`	$73.00K	USD	Point-in-time
Property, plant and equipment (net)	`PropertyPlantAndEquipmentNet`	$198.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.25M	shares	Point-in-time
Total assets	`Assets`	$24.76M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.97M	shares	Point-in-time
Total assets	`Assets`	$22.65M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.97M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.94M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$3.74M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$3.56M	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$29.00K	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$75.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.57M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$176.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$141.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.93M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized at December 31, 2015 and September 30, 2016; 335,273 shares issued and outstanding at December 31, 2015 and September 30, 2016. Aggregate preference in liquidation of $4,006,511 at December 31, 2015 and September 30, 2016.	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized at December 31, 2015 and September 30, 2016; 335,273 shares issued and outstanding at December 31, 2015 and September 30, 2016. Aggregate preference in liquidation of $4,006,511 at December 31, 2015 and September 30, 2016.	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2015 and September 30, 2016; 2,965,208 and 4,251,229 shares issued and outstanding at December 31, 2015 and September 30, 2016, respectively.	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2015 and September 30, 2016; 2,965,208 and 4,251,229 shares issued and outstanding at December 31, 2015 and September 30, 2016, respectively.	`CommonStockValue`	$3.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$349.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$342.59M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-596.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-760.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-332.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-323.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.84M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$22.65M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Grant revenue	`RevenueFromGrants`	$1.27M	USD	3 Qtrs
Grant revenue	`RevenueFromGrants`	$205.00K	USD	1 Quarter
Grant revenue	`RevenueFromGrants`	$566.00K	USD	3 Qtrs
Grant revenue	`RevenueFromGrants`	$462.00K	USD	1 Quarter
Collaboration and research and development revenue	`CollaborationAndResearchAndDevelopmentRevenue`	$253.00K	USD	3 Qtrs
Collaboration and research and development revenue	`CollaborationAndResearchAndDevelopmentRevenue`	$253.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$715.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$1.52M	USD	3 Qtrs
Total revenues	`SalesRevenueNet`	$205.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$566.00K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.90M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.54M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.41M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.83M	USD	3 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.21M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.27M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$4.01M	USD	3 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$4.00M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.68M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.11M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.55M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$13.83M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-3.39M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-10.98M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-12.31M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-3.48M	USD	1 Quarter
Change in valuation of financial instruments associated with stock purchase agreement	`ExpenseRelatedToStockPurchaseAgreement`	$51.00K	USD	3 Qtrs
Change in valuation of financial instruments associated with stock purchase agreement	`ExpenseRelatedToStockPurchaseAgreement`	$27.00K	USD	1 Quarter
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-354.00K	USD	3 Qtrs
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$369.00K	USD	3 Qtrs
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$51.00K	USD	1 Quarter
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$219.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$31.00K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncome`	$13.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$56.00K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncome`	$95.00K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncome`	$18.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$456.00K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$207.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-305.00K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$77.00K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-12.61M	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.53M	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.19M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.40M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-454.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-478.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.65M	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.57M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-10.97M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.95M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.95M	USD	1 Quarter
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsAndOtherAdjustments`	$150.00K	USD	3 Qtrs
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsAndOtherAdjustments`	$150.00K	USD	3 Qtrs
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsAndOtherAdjustments`	$50.00K	USD	1 Quarter
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsAndOtherAdjustments`	$50.00K	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.76M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-9.10M	USD	3 Qtrs
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-11.12M	USD	3 Qtrs
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.00M	USD	1 Quarter
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-4.20	USD	3 Qtrs
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-2.89	USD	3 Qtrs
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.86	USD	1 Quarter
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.95	USD	1 Quarter
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.15M	shares	3 Qtrs
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.65M	shares	3 Qtrs
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.89M	shares	1 Quarter
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.47M	shares	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-10.97M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.95M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.95M	USD	1 Quarter
Change in valuation of financial instruments associated with stock purchase agreement	`ExpenseRelatedToStockPurchaseAgreement`	$51.00K	USD	3 Qtrs
Change in valuation of financial instruments associated with stock purchase agreement	`ExpenseRelatedToStockPurchaseAgreement`	$27.00K	USD	1 Quarter
Depreciation	`Depreciation`	$109.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$157.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$614.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$464.00K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-629.00K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-583.00K	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-2.07M	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$464.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.14M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.78M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.00K	USD	3 Qtrs
Minimum royalty payments received from termination of ALIGN license agreement	`PaymentsForProceedsFromOtherInvestingActivities`	$-23.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.00K	USD	3 Qtrs
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$2.80M	USD	Point-in-time
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$10.58M	USD	3 Qtrs
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$5.24M	USD	3 Qtrs
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$150.00K	USD	3 Qtrs
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$150.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.43M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.09M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-94.00K	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-366.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.41M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.46M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.44M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.73M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.19M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.44M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.19M	USD	Point-in-time
Interest	`InterestPaid`	$6.00K	USD	3 Qtrs
Interest	`InterestPaid`	$31.00K	USD	3 Qtrs
Taxes	`IncomeTaxesPaid`	$1.97M	USD	3 Qtrs
Taxes	`IncomeTaxesPaid`	$2.88M	USD	3 Qtrs
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	3 Qtrs
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	3 Qtrs
Receivable from issuance of common stock	`StockIssued1`	$1.52M	USD	3 Qtrs

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-10.97M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.95M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.95M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.88M	USD	3 Qtrs
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.88M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.11M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-19.93M	USD	3 Qtrs
Unrealized foreign exchange (loss) gain on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$19.77M	USD	3 Qtrs
Unrealized foreign exchange (loss) gain on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$4.86M	USD	1 Quarter
Unrealized foreign exchange (loss) gain on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-2.94M	USD	3 Qtrs
Unrealized foreign exchange (loss) gain on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTax`	$-5.26M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.86M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-11.03M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.11M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.97M	USD	1 Quarter

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