BIO GREEN MED SOLUTION REPORTS SECOND QUARTER FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE
Bio Green Med reported Q2 revenue of $336,000 from its fire safety business, narrowing its net loss to $0.4 million from $1.3 million in the prior year. The company entered a Business Combination Agreement with Future NRG Sdn. Bhd., stipulating that Future NRG shareholders will own more than 99% of the combined company, effectively diluting current BGMS stockholders to less than 1%.
Key figures
- Revenue
- 336000
- Offering Price
- 0.72
- Shares Offered
- 1103338
- Gross margin
- 23%
- Cash equivalents
- 3800000
- Post merger existing shareholder ownership
- < 1%
AI analysis
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