Bio Green Med Solution — Third Quarter 2026 Earnings Summary

Financial Performance:

• Product revenue from fire safety operations reached $454,000 for the three months ended September 30, 2026, compared to $81,000 in the prior-year period.
• Cost of sales was $339,000 for the quarter, yielding a gross margin of approximately 25%, up from 21% in the prior-year period.
• General and administrative expenses decreased to $635,000 from $1,004,000 in the prior year, a reduction of approximately 37%.
• Net loss narrowed to $449,000 (reported as $0.4 million) for the quarter, compared to a net loss of $988,000 (reported as $1.0 million) in the prior year.
• Net loss per share for continuing operations was $0.07, compared to $1.31 in the prior year.
• Cash and cash equivalents totaled $3,454,000 as of September 30, 2026, compared to $3,505,000 as of December 31, 2025.
• Net cash used in operating activities was $900,000 for the nine months ended September 30, 2026.
• Total other income, net, increased to $74,000 from $4,000 in the prior year, driven largely by interest income.
• Income tax provision increased to $3,000 from $0 in the prior year.

Guidance and Future Outlook:

• The Company estimates that its current cash resources will fund planned expenditures into the second quarter of 2027.
• Management remains focused on executing in Malaysia's fire safety market and working toward the completion of the proposed business combination with Future NRG.

Business Segments and Product Lines:

• The Company has shifted operations to focus on the provision of fire safety protection and distribution activities following the acquisition of Fitters Sdn. Bhd. on September 12, 2025.
• Discontinued operations related to former biopharmaceutical activities generated no revenue or loss in the current period, compared to a $5,000 operating loss in the prior year.
• Goodwill remains at $1,570,000 on the balance sheet.

Market and Competitive Landscape:

• The Company is focused on advancing opportunities within Malaysia's fire safety market.
• No specific market share data or competitive landscape metrics were provided in the press release.

Risks and Challenges:

• The proposed business combination with Future NRG remains subject to closing conditions and termination rights set forth in the Business Combination Agreement.
• Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from expectations, as detailed in the Company's SEC filings.

Management Commentary and Tone:

• Datuk Dr. Doris Wong Sing Ee, CEO and Executive Director, stated the company is focused on executing in the Malaysia fire safety market and completing the proposed business combination.
• Management highlighted the 37% year-over-year reduction in general and administrative expenses and the narrowing of the net loss.

Other Key Points:

• The Form S-4 detailing the proposed Business Combination Agreement with Future NRG Sdn. Bhd. was declared effective in October 2026.
• A Special Meeting is planned for November 2026 to obtain shareholder approval for the proposed Business Combination.
• The Board of Directors declared a quarterly cash dividend of $0.15 per share on the 6% Convertible Exchangeable Preferred Stock, paid on November 1, 2026, to holders of record as of October 26, 2026.
• The Company completed the acquisition of Fitters Sdn. Bhd. on September 12, 2025.
• Weighted average common shares outstanding increased to 6,622,794 in the current period from 1,912,495 in the prior year.