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Cytosorbents Corporation Message Board

  • littlejimmyvalentino littlejimmyvalentino Jan 11, 2013 6:10 PM Flag

    Keep Stock Low Until February 10

    I'm super long this. So don't call me a basher.

    But it is in the best long term interests of all shareholders for this stock to sell below $0.15 on February 10, 2013.

    Why? Because on February 10, 2012, CTSO sold a convertible debenture good convertible to 5MM shares of CTSO stock with a strike price of $0.15 on February 10, 2013.

    Obviously, this date is approaching. Also obviously, this would comprise about a 2% dilution. Much, much better to have this close in the short term at a price below the strike price.

    Put this in perspective. The great enticement to get the CFO was 1MM shares at a strike price of $0.14 two years hence. This thing is FIVE times as big as that. We get zero benefit if more dilution occurs.


    Be patient. Would love for this thing to climb. Just give it a month.

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    • I do not post on this thread and usually just watch my investment sit and drop in value while the markets hit all time highs. I am posting to answer a few questions. The note conversions have nothing to do with the price of the stock. They are slated to convert @ set pricing n Feb 2013. The 2011 deal is going to be exchanged at .10 with 8% interest,,both being paid back in common shares. ie..if you put 100k into the deal, you will get a certificate for 1,000,000 shares and you will get 160,000 shares representing interest, for a total of 1,160,000 shares. The reason this stock is down and can not move is do to the ineptness of the CEO, Phil Chan..plain and simple. Many large shareholders have been begging Phil to come out and hire a IR firm to help promote new ways of attaining new shareholders. If you read the SHL, you will notice there are many gauge references to potential with very little to back up any "positive" spin to get investors excited. Phil gives a dead pan presentation and is lackluster at best. WE NEED NEW LEADERSHIP they will present our message with fire in his/her belly. People need to get excited about the prospects if they are going to risk their money. The stock price and potential is too undervalued in my opinion and it will not change until we get 3rd party industry experts validation, A joint venture, sales and adoption of our product. We have gone from 20 to 40 to 60 KOL's but minimal at best sales and or adoption of the use of the products. I for one have been listening to phil for years and while I genuinely believe he is nice and a very smart individual, I firmly believe he has little understanding at running a public company. The Company needs an overhaul at the top and it needs to be done soon! That's my two cents and I own a boatload of this company! I have expressed my opinions to Phil and he knows how I feel. I believe the Board is ready to make a move since we have seen negative traction for the last few years. While it is great to see advancement at the company level as he says,, we need to see it translate into sales and adoption of the product. Tell investors why they should invest, tell people why this is a great company, tell people what we have to offer- how it is now and then how we will change the face of medicine. Until Phil or a NEW LEADER understands how to do that, the we will be stuck. That's just the way it is,,they only ones making money is LPC as they get a nice discount and they got paid up front to sign the deal. I have invested a huge some in this company and own a large portion,,I just wish I didn't have to address this in an open forum.

      That is all.

      Sentiment: Hold

      • 1 Reply to thekingpinmaster
      • I do agree with your statement, "The stock price and potential is too undervalued in my opinion and it will not change until we get 3rd party industry experts validation, A joint venture, sales and adoption of our product." At this time, I think the neverousness relates to the dosing study. How many do they plan to enroll, the details of the study and when can we see the results? That's what I want to know. I think what could potentially happen is that they are going to run a small US trial to get approval and keep the dosing study on-going which would eventually make it a large multi-center, multi-country study. I feel Dr Chan is the right man for the top job. He goes about his work in a quiet intelligent manner. He shows his commitment to the company in many ways--his recent insider buy being one and he took on the CEO role when the company was still in R&D/clinical trial and during a time when it's difficult to raise money. Since the company's PPS is considered penny stock, I definitately do not want a promoter type of person or a person that "talks big" leading the company. There could be some polish in some areas but these can be resolved gradually. Keep in mind, they are working with limited amount of staff and budget. I've given Dr Chan some of feedback and criticism, he has been open to hearing them. Right now, it would be nice if he would open up more so that investors feel that they are making an informed decision when they chose to buy or sell. I believe there is real interest in the product from doctors and from potential partners for quite sometime now but there's a lid put on it. I think Dr Chan is looking to get sufficient clinical data to get the best deal on the table. I also think that there is one big partner ready to sign since 2010 . Probably, there are other partners too to push out the product internationally as they have already mentioned that they have an open diaglogue with a few. There are many things that are not in the company's direct control but know that they are all professionals that are working diligently to drive the success of the company. Maybe we can get Dr Lowenstein to prescribe a chill pill for some of you guys.

    • The way events are unfolding it would seem that maybe the expiration of debentures are a key issue here and that the stock price should be kept low until after the second expiration on January 15 (date provided by Ping).
      If all this proves to be true, it would be prudent to delay any announcements about the product efficacy will until after that date.
      Just my opinion after 'reading the tea leaves'.

    • Keep the share price under $0.15 until February 10th? I don't think that will be a problem.

      Like ping I don't know about how the convertibles will trade or convert - but I don't think that they'll simply expire like warrants.


    • You are incorrect. The benefit of a conversion is not having to raise money to pay off the note. Who knows what it will cost to borrow more.

      • 1 Reply to dah174174
      • Dah may or may not be correct. The question regarding cash flow and timing goes beyond my pay scale.

        However, these convertible debentures were put in place prior to the agreement with LPC to purchase shares. And, yes, LPC does have the ability to purchase shares at a price less than 15 cents.

        Their agreement with LPC is much like a line of credit. When their cash flow is insufficient, they can raid the LPC piggy bank and the concomitant dilution will result.

        In the case of this debenture, the dilution's timing would be predicated upon an automatic date--even though CTSO might not be facing a cash flow dilemma.

        Also, strange as it sounds, I would much rather have the dilution resulting in increased ownership share of LPC than a third party. LPC has proven time and time again that they are the saving grace of CTSO.

    • I don't fully understand the convertibles notes thing but would like to add that there were two convertibles. One back in Feb 2011 and one in Feb 2012. They both mature next month. The one done back in 2011 mature on February 15, 2013.

      • 1 Reply to ping_pow_princess
      • Thanks Ping for this and everything that you do on this board. I should mention that I find you to be the most informed poster in any Yahoo Board that I watch. In fact, you are as well informed as the "pre screened" private investment boards in other forms which I participate.

        I overlooked the second convertible offering from 2011. I'll look it up.

        The bottom line is this. On the 2012 offering, CTSO borrowed money at 8% due on Febtruary 10, 2013. That offering had a feature which made it convertible to 5MM shares of CTSO stock with a strike price at $0.15. If the stock fails to reach that benchmark on that date, the convertible feature expires worthless. Hence, no additional dilution--at least based upon that offering. Obviously, future dilution can occur at any time.

        Also--one must note the deal with LPC. The stock I believe has to maintain an $0.11 floor for the deal to continue. I would be surprised to see the stock breach this level.

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