BGMSHIGH SIGNALFINANCIAL10-K

BGMS executed a dramatic share consolidation (reducing outstanding shares from 207M to 5.5M) while substantially improving its financial position through reduced liabilities and operating losses.

The massive 97% reduction in share count suggests a reverse stock split aimed at addressing compliance issues or improving share price perception. The company appears to have restructured its balance sheet meaningfully, converting from a net liability position to positive equity while maintaining similar asset levels. This transformation indicates either debt restructuring, equity infusion, or conversion of liabilities to equity.

Comparing 2026-03-30 vs 2025-04-02View on EDGAR →
FINANCIAL ANALYSIS

BGMS doubled its total assets to $8.2M while dramatically reducing total liabilities from $6.3M to $1.3M, creating a substantially improved balance sheet position. Operating performance showed meaningful improvement with net losses narrowing considerably and R&D expenses declining significantly, though the company remains unprofitable. The financial restructuring, combined with the extreme share consolidation, suggests BGMS underwent a major corporate reorganization during this period.

FINANCIAL STATEMENT CHANGES
Total Assets
Balance Sheet
+99.9%
$4.1M→$8.2M

Asset base grew 99.9% — expansion through organic growth, acquisitions, or capital deployment.

R&D Expense
P&L
-87.3%
$6.7M→$848K

R&D spending cut 87.3% — could signal cost discipline or concerning reduction in innovation investment.

Current Liabilities
Balance Sheet
-78.7%
$6.3M→$1.3M

Current liabilities reduced — improved short-term financial position and working capital health.

Total Liabilities
Balance Sheet
-78.6%
$6.3M→$1.3M

Liabilities reduced 78.6% — deleveraging improves balance sheet strength and financial flexibility.

Interest Expense
P&L
-75.7%
$177K→$43K

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Net Income
P&L
+73.3%
-$11.2M→-$3.0M

Net income grew 73.3% — bottom-line growth signals improving overall business health.

Current Assets
Balance Sheet
+70.3%
$3.7M→$6.3M

Current assets grew 70.3% — improving short-term liquidity or inventory/receivables build.

Operating Cash Flow
Cash Flow
+40.3%
-$8.0M→-$4.8M

Operating cash flow surged 40.3% — exceptional cash generation, highest quality earnings signal.

Operating Income
P&L
+29.8%
-$12.0M→-$8.4M

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

SG&A Expense
P&L
-19.7%
$6.7M→$5.4M

SG&A reduced 19.7% — improved cost efficiency or headcount reduction improving operating margins.

LANGUAGE CHANGES
NEW — 2026-03-30
PRIOR — 2025-04-02
ADDED
Employer of Incorporation or Organization) Identification No.) Level 10, Tower 11 , Avenue 5, No.
7262(b)) by the registered public accounting firm that prepared or issued its audit report.
As of March 24, 2026, there were 5,519,456 shares of the registrant s common stock outstanding.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 93 Item 13.
Below is a summary of the principal risk factors that may affect our business, financial condition and results of operations.
Investors should carefully consider the risks and uncertainties summarized below along with additional discussion of such summarized risks under the heading Risk Factors herein, together with other information in this Annual Report and our other filings with the SEC.
and foreign tax laws and any changes in these laws related to the taxation of business.
Foreign Corrupt Practices Act or other applicable anti-corruption legislation could result in fines, criminal penalties and an adverse effect on our business.
In this report, Bio Green Med Solution, BGMS, the Company, we, us, and our refer to Bio Green Med Solution, Inc.
Recent Developments Equity Transactions In December 2024, Bio Green Med Solution, Inc.
REMOVED
Cyclacel Pharmaceuticals, Inc._December 31, 2024 0001130166 false 2024 FY Cyclacel Pharmaceuticals, Inc.
Employer Identification No.) Level 10, Tower 11 , Avenue 5, No.
7262(b)) by the registered public accounting firm that prepared or issued its audit report .
As of March 27, 2025, there were 207,336,389 shares of the registrant s common stock outstanding.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 116 I tem 13.
Certain Relationships and Related Transactions, and Director Independence 116 I tem 14.
A more complete discussion of those risks and uncertainties is set forth in Part I, Item 1A of this Annual Report, entitled Risk Factors .
Additional risks not presently known to us or that we currently deem immaterial may also affect us.
If any of these risks occur, our business, financial condition or results of operations could be materially and adversely affected.
Our business is subject to the following principal risks and uncertainties: Risks Associated with Development and Commercialization of Our Drug Candidates The cost, time, and possibility of delays associated with clinical trials, which may be required to continue beyond our available funding.
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