BGMS

BGMS is not an operating business — it is the emptied husk of Cyclacel Pharmaceuticals, repurposed into a shell. FY2025 revenue was $0.00 (down 100% from an already-trivial $43K in FY2024), and the accumulated deficit sits at -$454M. On January 31, 2025 the creditors' voluntary liquidation of Cyclacel Limited — the subsidiary that held ALL the intellectual property and clinical programs — was announced in the London Gazette, and the Company lost operational control and deconsolidated it. The 'improvement' in net income to -$3.00M (from -$22.6M in FY2023) is not a turnaround; it is the arithmetic of having deconsolidated the operations that generated the losses, which also mechanically added ~$4.9M to equity. Operating income was still -$8.43M and operating cash flow -$4.77M. There is no product, no revenue engine, and R&D was cut 87% to $848K.

The corporate actions are textbook shell-repurposing red flags. The Company executed a 1-for-16 reverse split on May 12, 2025 and then a further 1-for-15 split on July 7, 2025 — a compounded ~1-for-240 — leaving just 5.52M shares (down 97.3%). Control changed hands twice in weeks: David Lazar of Activist Investing bought Series C/D preferred for $3.1M as interim CEO, then flipped it to Datuk Dr. Doris Wong Sing Ee, who converted to own 70% of the fully diluted company. The name change to 'Bio Green Med Solution' and SIC reclassification to Wholesale-Durable Goods signal a pending reverse-merger of an unrelated business into the listing.