Bio Green Med Solution, Inc. Segments Disclosure
19. Geographic and Segment Information
Geographic information for the years ended December 31, 2025 and 2024 is as follows (in thousands):
| Year Ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenue | ||||||||
| United Kingdom | $ | $ | 43 | |||||
| Malaysia | 747 | |||||||
| Total Revenue | $ | 747 | $ | 43 | ||||
| Net (loss) / gain | ||||||||
| United States | $ | (1,857 | ) | $ | (37 | ) | ||
| Malaysia | 119 | |||||||
| United Kingdom | (1,260 | ) | (11,175 | ) | ||||
| Total Net Loss | $ | (2,998 | ) | $ | (11,212 | ) | ||
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Total Assets | ||||||||
| United States | $ | 2,031 | $ | 3,285 | ||||
| Malaysia | 6,154 | |||||||
| United Kingdom | 809 | |||||||
| Total Assets | $ | 8,185 | $ | 4,094 | ||||
| Long Lived Assets, net | ||||||||
| United States | $ | (0 | ) | $ | 1 | |||
| Malaysia | 137 | |||||||
| United Kingdom | 2 | |||||||
| Total Long Lived Assets, net | $ | 137 | $ | 3 | ||||
For the latter part of 2025, following the acquisition of our wholly owned subsidiary, Fitters Sdn. Bhd. (“Fitters”), the Company operated as a single segment engaged in the distribution of fire safety materials, equipment and fire prevention systems. Prior to the acquisition of Fitters, the Company operated as a single segment engaged in the development of innovative cancer medicines based on cell cycle, transcriptional regulation and mitosis control biology. Consistent with our operational structure, our Chief Executive Officer (CEO), as the chief operating decision maker, makes resource allocation and business process decisions globally across our consolidated business. Managing and allocating resources at the consolidated level enables our CEO to assess the overall level of resources available and how to best deploy these resources across functions such as production, research and development, business development, or administration and research and development projects in line with our overarching long-term corporate-wide strategic goals, rather than on a geographic or some other basis. Consistent with this decision-making process, our CEO considers consolidated net loss, which is our single segment’s principal measure of segment profit and loss, when evaluating performance and allocating company-wide resources.
Significant expenses are amounts that are regularly provided to the CEO and comprise the identical captions that are reported on the consolidated statement of operations.
A summary of our consolidated net loss for the years ended December 31, 2025 and 2024 is as follows, including the significant expenses provided to and regularly reviewed by our CEO:
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenues | $ | 747 | $ | 43 | ||||
| Operating expenses: | ||||||||
| Cost of sales | 609 | |||||||
| Research and development | 848 | 6,655 | ||||||
| General and administrative | 7,717 | 5,392 | ||||||
| Total operating expenses | 9,174 | 12,047 | ||||||
| Operating loss | (8,427 | ) | (12,004 | ) | ||||
| Total other income (expense), net | 5,436 | 10 | ||||||
| Loss before taxes | (2,991 | ) | (11,994 | ) | ||||
| Income tax benefit / (charge) | (7 | ) | 782 | |||||
| Net loss | $ | (2,998 | ) | $ | (11,212 | ) | ||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 30, 2026 | Showing above |
| 2024 | Apr 2, 2025 | |
| 2020 | Mar 1, 2021 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.