10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001571049-17-003095`
Period End Date	20161231
Filing Date	20170331
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	cycc-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 36 Cash Flow Statement 42 Stockholders Equity 21 Comprehensive Income 8

Balance Sheet 56 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	335,273.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	335,273.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.44M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	335,273.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.13M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	335,273.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$24.57M	USD	Point-in-time
Preferred stock, liquidation preference value (in dollars)	`PreferredStockLiquidationPreferenceValue`	$4.01B	USD	Point-in-time
Preferred stock, liquidation preference value (in dollars)	`PreferredStockLiquidationPreferenceValue`	$4.01B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$198.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$45.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$19.66M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total assets	`Assets`	$24.76M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.26M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.97M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.26M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.97M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.94M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$3.81M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$2.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.26M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$130.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$176.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.39M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized at December 31, 2015 and 2016; 335,273 shares issued and outstanding at December 31, 2015 and 2016, respectively; aggregate liquidation preference of $4,006,512 as of December 31, 2015 and 2016,	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized at December 31, 2015 and 2016; 335,273 shares issued and outstanding at December 31, 2015 and 2016, respectively; aggregate liquidation preference of $4,006,512 as of December 31, 2015 and 2016,	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2015 and 2016; 2,965,208 and 4,256,829 shares issued and outstanding at December 31, 2015 and 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 2016; 2,965,208 and 4,256,829 shares issued and outstanding at December 31, 2015 and 2016, respectively	`CommonStockValue`	$3.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$342.59M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$350.05M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-596.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-743.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-323.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-335.04M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.84M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.69M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$19.66M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.76M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Grant revenue	`RevenueFromGrants`	$843.00K	USD	Annual
Grant revenue	`RevenueFromGrants`	$1.69M	USD	Annual
Collaboration and research and development revenue	`CollaborationAndResearchAndDevelopmentRevenue`	$250.00K	USD	Annual
Total revenues	`SalesRevenueNet`	$1.94M	USD	Annual
Total revenues	`SalesRevenueNet`	$843.00K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$9.48M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$12.38M	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$5.52M	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$5.73M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$18.11M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$14.99M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-14.15M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-16.17M	USD	Annual
Change in valuation of financial instruments associated with stock purchase agreement	`ExpenseRelatedToStockPurchaseAgreement`	$51.00K	USD	Annual
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$273.00K	USD	Annual
Foreign exchange gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-368.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$37.00K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$66.00K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$94.00K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$376.00K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$-316.00K	USD	Annual
Loss from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.77M	USD	Annual
Loss from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-16.49M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.98M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-2.14M	USD	Annual
Net loss	`NetIncomeLoss`	$-11.79M	USD	Annual
Net loss	`NetIncomeLoss`	$-14.34M	USD	Annual
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsAndOtherAdjustments`	$201.00K	USD	Annual
Dividend on convertible exchangeable preferred shares	`PreferredStockDividendsAndOtherAdjustments`	$200.00K	USD	Annual
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-11.99M	USD	Annual
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-14.54M	USD	Annual
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-3.50	USD	Annual
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-5.36	USD	Annual
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.71M	shares	Annual
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.42M	shares	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.79M	USD	Annual
Net loss	`NetIncomeLoss`	$-14.34M	USD	Annual
Change in valuation of financial instruments associated with stock purchase agreement	`ExpenseRelatedToStockPurchaseAgreement`	$51.00K	USD	Annual
Depreciation expense	`Depreciation`	$133.00K	USD	Annual
Depreciation expense	`Depreciation`	$210.00K	USD	Annual
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$12.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$745.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$782.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-342.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-439.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$370.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-1.47M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-14.46M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-10.08M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$12.00K	USD	Annual
Minimum royalty payments received from termination of ALIGN license agreement	`PaymentsForProceedsFromOtherInvestingActivities`	$-96.00K	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$62.00K	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$9.00K	USD	Annual
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$6.79M	USD	Annual
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$11.06M	USD	Annual
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$201.00K	USD	Annual
Payment of preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$200.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$6.59M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.86M	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-211.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-444.00K	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.92M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.75M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.52M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.19M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.52M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.19M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.44M	USD	Point-in-time
Interest	`ProceedsFromInterestReceived`	$10.00K	USD	Annual
Interest	`ProceedsFromInterestReceived`	$38.00K	USD	Annual
Taxes	`ProceedsFromIncomeTaxRefunds`	$2.86M	USD	Annual
Taxes	`ProceedsFromIncomeTaxRefunds`	$1.97M	USD	Annual
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	Annual
Accrual of preferred stock dividends	`AccrualOfPreferredStockDividends`	$50.00K	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$18.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$21.69M	USD	Point-in-time
Issue of common stock on At Market Issuance sales agreement	`StockIssuedDuringPeriodValueAtMarketIssuanceSalesAgreement`	$6.79M	USD	Annual
Issue of common stock for cash on registered direct offering, net of expenses	`StockIssuedDuringPeriodValueNewIssues`	$9.17M	USD	Annual
Issue of common stock upon draw down of Committed Equity Finance Facility	`IssueOfCommonStockUponDrawDownCommittedEquityFinanceFacility`	$484.00K	USD	Annual
Issue of common stock on share purchase agreement	`StockIssuedDuringPeriodValueSharePurchaseAgreement`	$1.41M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$745.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$782.00K	USD	Annual
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalPreferredStockConversion`	$200.00K	USD	Annual
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalPreferredStockConversion`	$201.00K	USD	Annual
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTaxPortionAttributableToParent`	$-27.35M	USD	Annual
Unrealized foreign exchange on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTaxPortionAttributableToParent`	$-6.54M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$27.20M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$6.42M	USD	Annual
Net loss	`NetIncomeLoss`	$-11.79M	USD	Annual
Net loss	`NetIncomeLoss`	$-14.34M	USD	Annual
Cumulative effect of change in Accounting Principle for ASU 2016-09	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$18.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$21.69M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.79M	USD	Annual
Net loss	`NetIncomeLoss`	$-14.34M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$27.20M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$6.42M	USD	Annual
Unrealized foreign exchange loss on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTaxPortionAttributableToParent`	$-27.35M	USD	Annual
Unrealized foreign exchange loss on intercompany loans	`OtherComprehensiveIncomeUnrealizedForeignExchangeOnIntercompanyLoansNetOfTaxPortionAttributableToParent`	$-6.54M	USD	Annual
Comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-11.94M	USD	Annual
Comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-14.46M	USD	Annual

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