Quarterly ResultMay 15, 2026, 04:29 PM
Bio Green Med Solution Q1 Revenue $778K; Preferred Stock Delisted
AI Summary
Bio Green Med Solution, Inc. reported Q1 2026 revenue of $778,000, a significant increase from $0 in Q1 2025, reflecting its strategic shift from biopharmaceuticals to fire safety protection following the acquisition of Fitters Sdn. Bhd. The company's preferred stock was delisted from Nasdaq on March 23, 2026, though its common stock remains listed. Despite improved operating loss, the net loss applicable to common shareholders increased to $217,000 due to the absence of a large deconsolidation gain seen in the prior year. The company also noted substantial doubt about its ability to continue as a going concern beyond Q4 2026 without additional financing.
Key Highlights
- Q1 2026 revenue from fire safety was $778,000, up from $0 in Q1 2025.
- Net loss from continuing operations improved to $(197,000) in Q1 2026 from $(4,206,000) in Q1 2025.
- Net loss applicable to common shareholders was $(217,000) in Q1 2026, compared to $(81,000) in Q1 2025.
- Basic and diluted EPS from continuing operations was $(0.04) in Q1 2026, a significant improvement from $(11.52) in Q1 2025.
- Cash and cash equivalents were $3.339 million as of March 31, 2026.
- The company's 6% Convertible Exchangeable Preferred Stock was delisted from Nasdaq on March 23, 2026.
- The company completed the acquisition of Fitters Sdn. Bhd. on September 12, 2025.
- Deconsolidation of Cyclacel Limited in Q1 2025 resulted in a $4.947 million gain.
Price Impact
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