All you have to do is read the quarterly SEC filings to know where the sellers are coming from. The seller is Cytosorbents, their selling agent is LPC. The float is diluted almost daily. And until real news motivates buying that overwhelms selling/diluting PPS will remain down here. What we're lacking is meaningful real news.
Per the 10-Q, in February the company converted all outstanding 2012 convertible notes to 9,739,912 common shares and in the six months ending June 30th also raised $900k in operating funds by directing LPC to purchase 8,144,000 shares at .113cts. - These combined authorized shares roughly total 18,000,000 of the approximately 60,000,000 traded during the first half of the year. Subsequently from July 1st through August 12th the company raised $700k by directing LPC to purchase 6,557,514 shares at average of .107cts - These last thirty days of trading represent a higher percentage of authorized shares (45%) which may have put more undue pressure on the PPS-