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Bio Green Med Solution (NASDAQ: BGMS) reported Q3 results for the period ended September 30, 2025 and provided a business update.
Key facts: cash and cash equivalents of $3.8M (up from $3.1M at 12/31/24); estimated cash runway into the first quarter of 2026; net loss of $1.0M for Q3 2025 versus $2.0M a year earlier; product revenue from fire safety sales of $81k and cost of sales of $64k following the September acquisition of Fitters Sdn. Bhd.; R&D expense of $0 in Q3 2025 after liquidation of the UK subsidiary.
Corporate actions: a 1-for-15 reverse stock split effective July 7, 2025; sale of Plogosertib-related patents for $300k plus up to $170k in potential milestone payments; Fitters exchange resulted in Fitters owning approximately 19.99% of BGMS; two warrant exchange transactions converted warrants into an aggregate of 1,962,000 new shares.