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Cytosorbents Corporation Message Board

  • littlejimmyvalentino littlejimmyvalentino Apr 8, 2013 11:53 AM Flag

    Timing of stock rise is pivotal

    This period of good news is exceptionally well timed. It doesn't take a genius to look at "cash at hand" and say to yourself, "These guys will need to raise more money between now and the end of the year". To the extent that news is good and the stock price is high, they will have an easier time raising funds and thus suffer less dilution. They are still battling a race against the clock. And that clock is cash burn. Here's hoping that more good news comes. And quickly.

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    • Hello Jimmy;
      The news is encouraging on this front as well. The company stated they had $1.73mil as cash on hand at end of year. Plus raised an additional $450,000 in January through purchase obligation sales to LPC. Toss in $170,000 in first qtr. sales and the figure becomes $2,350,000.

      Best guess/hope is for $600,000 in sales for next three qtrs., final 8,000,000 ( again approximation) shares sold to LPC at .135ish that raises $1,000,000+ and possibly $1,000,000 in DARPA/SBIR grants-
      At a burn rate of $425,000 monthly should have enough to get through remainder of 2013.

      Sentiment: Hold

11.36Feb 26 4:00 PMEST

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