$BGMS

Bio Green Med Solution, Inc.

CIK:0001130166|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Revenues	$ 336		$ 1,114
Operating expenses:
Cost of sales	257		892
General and administrative	497	1,249	886	5,463
Total operating expenses	754	1,249	1,778	5,463
Operating loss	(418)	(1,249)	(664)	(5,463)
Other expense:
Foreign exchange gains (losses)	(18)	(3)	21	(11)
Interest income (expense)	9	2	18	8
Other income, net	31	2	62	12
Total other income, net	22	1	101	9
Loss from continuing operations before taxes	(396)	(1,248)	(563)	(5,454)
Income tax provision	(9)	(2)	(39)	(2)
Net loss from continuing operations	(405)	(1,250)	(602)	(5,456)
Discontinued operations:
Operating losses from discontinued operations		(68)		(890)
Gain on deconsolidation of subsidiary				4,947
Net income from discontinued operations		(68)		4,057
Net loss	(405)	(1,318)	(602)	(1,399)
Dividend on convertible exchangeable preferred shares	(20)	(20)	(40)	(20)
Net loss applicable to common shareholders	$ (425)	$ (1,338)	$ (642)	$ (1,419)
Basic and diluted earnings per common share:
Net loss per share, continuing operations - basic (common shareholders)	$ (0.08)	$ (0.93)	$ (0.12)	$ (1.62)
Net loss per share, continuing operations - diluted (common shareholders)	(0.08)	(0.93)	(0.12)	(1.62)
Net loss per share, discontinued operations - basic (common shareholders)		(0.05)		4.62
Net loss per share, discontinued operations - diluted (common shareholders)		$ (0.05)		$ 4.62
Weighted average common shares outstanding - basic	5,598,701	1,360,626	5,568,424	878,095
Weighted average common shares outstanding - diluted	5,598,701	1,360,626	5,568,424	878,095

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net loss	$ (602)	$ (1,399)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1	1
Stock-based compensation	1	1,673
Deconsolidation of subsidiary		4,947
Changes in lease liability	(2)	10
Changes in operating assets and liabilities:
Accounts receivable, net	183
Inventory	412
Prepaid expenses and other assets	15	1,544
Accounts payable, accrued and other current liabilities	(638)	(11,079)
Net cash used in operating activities	(630)	(4,303)
Investing activities:
Purchase of property, plant and equipment	(1)
Net cash used in investing activities	(1)
Financing activities:
Proceeds, net of issuance costs, from issuing common stock and pre-funded warrants, net	919	5,567
Payment of preferred stock dividend	(41)	(41)
Net cash provided by financing activities	878	5,526
Effect of exchange rate changes on cash and cash equivalents	38	(85)
Net (decrease) increase in cash and cash equivalents	285	1,138
Cash and cash equivalents, beginning of period	3,505	3,137
Cash and cash equivalents, end of period	3,790	4,275
Cash received during the period for:
Interest	18	12
Cash paid during the period for:
Interest		$ 5

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 3,790	$ 3,505
Inventory	972	1,384
Accounts receivable (net of allowances of $540,000 and $447,000 respectively)	1,074	1,257
Prepaid expenses and other current assets	133	110
Total current assets	5,969	6,256
Property and equipment, net	136	137
Right-of-use lease asset	7	12
Goodwill	1,570	1,570
Non-current deposits	172	210
Total assets	7,854	8,185
Current liabilities:
Accounts payable	189	617
Accrued and other current liabilities	503	715
Total current liabilities	692	1,332
Lease liability		2
Other liabilities	2	9
Total liabilities	694	1,343
Stockholders’ equity (deficit):
Common stock, $0.001 par value; 600,000,000 shares authorized at June 30, 2026 and December 31, 2025; 6,622,794 shares issued and outstanding at June 30, 2026 and 5,400,320 shares issued and outstanding at December 31, 2025	7	5
Additional paid-in capital	462,166	461,287
Accumulated other comprehensive loss		(39)
Accumulated deficit	(455,013)	(454,411)
Total stockholders’ equity (deficit)	7,160	6,842
Total liabilities and stockholders’ equity (deficit)	7,854	8,185
6% Convertible Exchangeable Preferred Stock [Member]
Stockholders’ equity (deficit):
Preferred stock value
Series A Preferred Stock [Member]
Stockholders’ equity (deficit):
Preferred stock value