2012 Q3 Form 10-Q Financial Statement
#000114420412044924 Filed on August 13, 2012
Income Statement
Concept | 2012 Q3 | 2012 Q2 | 2011 Q2 |
---|---|---|---|
Revenue | $605.3K | $33.04K | $0.00 |
YoY Change | |||
Cost Of Revenue | $141.8K | $10.08K | $0.00 |
YoY Change | |||
Gross Profit | $463.5K | $72.96K | $0.00 |
YoY Change | |||
Gross Profit Margin | 76.57% | 220.82% | |
Selling, General & Admin | $359.6K | $293.2K | $191.8K |
YoY Change | -20.08% | 52.86% | -40.06% |
% of Gross Profit | 77.59% | 401.83% | |
Research & Development | $554.3K | $715.8K | $854.8K |
YoY Change | -28.94% | -16.27% | 144.24% |
% of Gross Profit | 119.58% | 980.99% | |
Depreciation & Amortization | $10.00K | $10.00K | $20.00K |
YoY Change | -50.0% | -50.0% | 100.0% |
% of Gross Profit | 2.16% | 13.71% | |
Operating Expenses | $1.065M | $1.082M | $1.114M |
YoY Change | -13.44% | -2.84% | 66.29% |
Operating Profit | -$601.2K | -$1.010M | -$1.114M |
YoY Change | -51.12% | -9.39% | |
Interest Expense | -$50.80K | -$37.81K | -$227.0K |
YoY Change | -89.84% | -83.35% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$50.80K | -$37.81K | -$227.0K |
YoY Change | -83.35% | ||
Pretax Income | -$652.0K | -$1.047M | -$1.341M |
YoY Change | -62.31% | -21.91% | 97.23% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$652.0K | -$1.047M | -$1.341M |
YoY Change | -62.31% | -21.91% | 97.23% |
Net Earnings / Revenue | -107.7% | -3169.63% | |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$79.46K | -$135.0K | -$210.4K |
COMMON SHARES | |||
Basic Shares Outstanding | 203.0M shares | 194.9M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2012 Q3 | 2012 Q2 | 2011 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $2.100M | $1.700M | $3.400M |
YoY Change | -8.7% | -50.0% | 466.67% |
Cash & Equivalents | $2.061M | $1.742M | $3.417M |
Short-Term Investments | |||
Other Short-Term Assets | $100.0K | $100.0K | $0.00 |
YoY Change | -100.0% | ||
Inventory | $600.0K | $535.3K | |
Prepaid Expenses | |||
Receivables | $100.0K | $0.00 | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $2.900M | $2.467M | $3.500M |
YoY Change | 16.0% | -29.53% | 400.0% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $100.0K | $142.4K | $100.0K |
YoY Change | 0.0% | 42.44% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $300.0K | $287.2K | $300.0K |
YoY Change | 0.0% | -4.26% | 0.0% |
Total Long-Term Assets | $400.0K | $429.7K | $400.0K |
YoY Change | 0.0% | 7.42% | 33.33% |
TOTAL ASSETS | |||
Total Short-Term Assets | $2.900M | $2.467M | $3.500M |
Total Long-Term Assets | $400.0K | $429.7K | $400.0K |
Total Assets | $3.300M | $2.896M | $3.900M |
YoY Change | 13.79% | -25.74% | 290.0% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $700.0K | $620.8K | $800.0K |
YoY Change | -12.5% | -22.39% | 0.0% |
Accrued Expenses | $400.0K | $500.0K | $600.0K |
YoY Change | -33.33% | -16.67% | 200.0% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | $1.000M | $1.200M | |
YoY Change | 400.0% | ||
Total Short-Term Liabilities | $2.100M | $2.304M | $1.400M |
YoY Change | 31.25% | 64.59% | 16.67% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $500.0K |
YoY Change | -100.0% | -100.0% | |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $500.0K |
YoY Change | -100.0% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.100M | $2.304M | $1.400M |
Total Long-Term Liabilities | $0.00 | $0.00 | $500.0K |
Total Liabilities | $2.100M | $2.304M | $1.900M |
YoY Change | 16.67% | 21.28% | 58.33% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | |||
YoY Change | |||
Common Stock | $199.1K | ||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $1.200M | $592.0K | $1.900M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $3.300M | $2.896M | $3.900M |
YoY Change | 13.79% | -25.74% | 290.0% |
Cashflow Statement
Concept | 2012 Q3 | 2012 Q2 | 2011 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$652.0K | -$1.047M | -$1.341M |
YoY Change | -62.31% | -21.91% | 97.23% |
Depreciation, Depletion And Amortization | $10.00K | $10.00K | $20.00K |
YoY Change | -50.0% | -50.0% | 100.0% |
Cash From Operating Activities | -$630.0K | -$1.150M | -$1.030M |
YoY Change | -42.73% | 11.65% | 37.33% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $10.00K | -$20.00K | -$30.00K |
YoY Change | -150.0% | -33.33% | 50.0% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cash From Investing Activities | $10.00K | -$20.00K | -$30.00K |
YoY Change | -150.0% | -33.33% | 50.0% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 950.0K | 1.100M | 2.040M |
YoY Change | -46.08% | 10100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -630.0K | -1.150M | -1.030M |
Cash From Investing Activities | 10.00K | -20.00K | -30.00K |
Cash From Financing Activities | 950.0K | 1.100M | 2.040M |
Net Change In Cash | 330.0K | -70.00K | 980.0K |
YoY Change | -129.46% | -107.14% | -230.67% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$630.0K | -$1.150M | -$1.030M |
Capital Expenditures | $10.00K | -$20.00K | -$30.00K |
Free Cash Flow | -$640.0K | -$1.130M | -$1.000M |
YoY Change | -40.74% | 13.0% | 36.99% |
Facts In Submission
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0.15 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
33.57 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
60581 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.02 | ||
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
shares | ||
us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
3951540 | shares | |
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
395153 | ||
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="font: 10pt Times New Roman, Times, Serif"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <b>1.   BASIS OF PRESENTATION</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q of the Securities and Exchange Commission (the “Commission”) and include the results of CytoSorbents Corporation (the “Parent”), CytoSorbents, Inc., its wholly-owned operating subsidiary (the “Subsidiary”), and CytoSorbents Europe GmbH, its wholly-owned European subsidiary (the “European Subsidiary”), collectively referred to as “the Company.” Accordingly, certain information and footnote disclosures required in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. Interim statements are subject to possible adjustments in connection with the annual audit of the Company's accounts for the year ended December 31, 2012. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) which the Company considers necessary for the fair presentation of the Company's consolidated financial position as of June 30, 2012 and the results of its operations and cash flows for six and three month periods ended June 30, 2012 and 2011, and for the period January 22, 1997 (date of inception) to June 30, 2012. Results for the six and three months ended are not necessarily indicative of results that may be expected for the entire year. The unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended December 31, 2011 as included in the Company’s Form 10-K filed with the Commission on March 30, 2012.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has experienced negative cash flows from operations since inception and has a deficit accumulated during the development stage at June 30, 2012 of $96,272,569. The Company is not currently generating significant revenue and is dependent on the proceeds of present and future financings to fund its research, development and commercialization program. These matters raise substantial doubt about the Company’s ability to continue as a going concern.  The Company is continuing its fund-raising efforts.  Although the Company has historically been successful in raising additional capital through equity and debt financings, there can be no assurance that the Company will be successful in raising additional capital in the future or that it will be on favorable terms.  Furthermore, if the Company is successful in raising the additional financing, there can be no assurance that the amount will be sufficient to complete the Company's plans. These consolidated financial statements do not include any adjustments related to the outcome of this uncertainty.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  The Company is a development stage company and has not yet generated significant revenues from inception to June 30, 2012. Since inception, the Company's expenses relate primarily to research and development, organizational activities, clinical manufacturing, regulatory compliance and operational strategic planning.  Although the Company has made advances on these matters, there can be no assurance that the Company will continue to be successful regarding these issues, nor can there be any assurance that the Company will successfully implement its long-term strategic plans.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The Company has developed an intellectual property portfolio, including 29 issued and multiple pending patents, covering materials, methods of production, systems incorporating the technology and multiple medical uses.</p> </div> | ||
us-gaap |
Stock Issued1
StockIssued1
|
213584 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
102340 | ||
us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
4532 | ||
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
2260153 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1065 | ||
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
555186 | ||
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="font: 10pt Times New Roman, Times, Serif"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <b>Concentration of Credit Risk</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The Company maintains cash balances, at times, with financial institutions in excess of amounts insured by the Federal Deposit Insurance Corporation. Management monitors the soundness of these institutions in an effort to minimize its collection risk of these balances.</p> </div> | ||
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
21415 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2218792 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-26022 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
|||
us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y4M21D | ||
us-gaap |
Dividends Preferred Stock Stock
DividendsPreferredStockStock
|
1241121 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
7316 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-2473906 | ||
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1309031 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2800000 | ||
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
235762 | ||
us-gaap |
Professional Fees
ProfessionalFees
|
234827 | ||
us-gaap |
Operating Expenses
OperatingExpenses
|
2106504 | ||
us-gaap |
Proceeds From Contributed Capital
ProceedsFromContributedCapital
|
2100000 | ||
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-397177 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.28 | pure | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
104236 | ||
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
20160 | ||
us-gaap |
Revenues
Revenues
|
49935 | ||
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4532 | ||
us-gaap |
Gross Profit
GrossProfit
|
29775 | ||
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
24957 | ||
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
187795284 | shares | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
382478 | ||
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
1241121 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.019 | pure | |
us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
700000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2473906 | ||
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-397177 | ||
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
562646 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
868000 | shares | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-3715027 | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font: 10pt Times New Roman, Times, Serif"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <b>Use of Estimates</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities. Actual results could differ from these estimates. Significant estimates in these financials are the valuation of options granted, the valuation of preferred shares issued as stock dividends and valuation methods used in determining any debt discount associated with convertible securities.</p> </div> | ||
us-gaap |
Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
|
87700 | ||
ctso |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Granted In Period Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingGrantedInPeriodWeightedAverageRemainingContractualTerm
|
P4Y9M18D | ||
ctso |
Debt Discount
DebtDiscount
|
87700 | ||
ctso |
Preferred Dividends Accrued Not Yet Paid
PreferredDividendsAccruedNotYetPaid
|
1241121 | ||
ctso |
Issuance Of Common Stock In Exchange For Convertible Notes Value
IssuanceOfCommonStockInExchangeForConvertibleNotesValue
|
395153 | ||
ctso |
Stock Issued During Period Value Warrants Exercised Cashless
StockIssuedDuringPeriodValueWarrantsExercisedCashless
|
|||
ctso |
Issuance Of Common Stock In Exchange For Convertible Notes Shares
IssuanceOfCommonStockInExchangeForConvertibleNotesShares
|
3951540 | shares | |
ctso |
Issuance Of Common Shares For Cashless Exercise Of Warrants
IssuanceOfCommonSharesForCashlessExerciseOfWarrants
|
5666616 | shares | |
ctso |
Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsGrantsInPeriod
|
868000 | shares | |
ctso |
Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedInPeriod
|
886000 | shares | |
ctso |
Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsForfeituresInPeriod
|
shares | ||
ctso |
Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriod
|
114254 | shares | |
ctso |
Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Granted In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsGrantedInPeriodWeightedAverageGrantDateFairValue
|
0.050 | ||
ctso |
Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedInPeriodWeightedAverageGrantDateFairValue
|
0.047 | ||
ctso |
Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Forfeited In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue
|
|||
ctso |
Share Based Compensation Arrangement By Share Based Payment Award Non Vested Options Vested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonVestedOptionsVestedNumber
|
9957000 | shares | |
ctso |
Voluntarily Employee Termination Date
VoluntarilyEmployeeTerminationDate
|
2012-07-13 | ||
ctso |
Position Assumed Effective Date
PositionAssumedEffectiveDate
|
2012-07-16 | ||
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
499395 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
3018437 | ||
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
32491 | ||
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
255882 | ||
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
12344602 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4506217 | ||
us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
361495 | ||
us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
2509592 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2402025 | ||
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
1741839 | ||
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
56394 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
417616 | ||
us-gaap |
Stock Issued1
StockIssued1
|
549534 | ||
us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
361496 | ||
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
2470830 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
5141 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-64796201 | ||
us-gaap |
Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
|
399395 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
43394 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-87168143 | ||
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
52208369 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
71044257 | ||
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
1823103 | ||
CY2012Q1 | us-gaap |
Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
|
0.08 | pure |
CY2012Q1 | ctso |
Debt Instrument Maturity Period
DebtInstrumentMaturityPeriod
|
P12M | |
CY2012Q1 | ctso |
Warrant Exercise Price
WarrantExercisePrice
|
0.175 | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
216617 | ||
us-gaap |
Service Management Costs
ServiceManagementCosts
|
1334285 | ||
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
393607 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-79910629 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
400490 | ||
us-gaap |
Professional Fees
ProfessionalFees
|
8192717 | ||
us-gaap |
Other Operating Income
OtherOperatingIncome
|
6055483 | ||
us-gaap |
Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
|
533648 | ||
us-gaap |
Operating Expenses
OperatingExpenses
|
79964722 | ||
us-gaap |
Proceeds From Contributed Capital
ProceedsFromContributedCapital
|
48671310 | ||
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-7134299 | ||
us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
3147 | ||
us-gaap |
Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
|
1632168 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
535258 | ||
us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
393607 | ||
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
31920 | ||
us-gaap |
Revenues
Revenues
|
86013 | ||
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
21663 | ||
us-gaap |
Gross Profit
GrossProfit
|
54093 | ||
us-gaap |
Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
|
559 | ||
us-gaap |
Interest Paid
InterestPaid
|
590189 | ||
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
504515 | ||
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
2376855 | ||
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
9651744 | ||
us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
11888881 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-86620825 | ||
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-7257514 | ||
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
25619119 | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-547318 | ||
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-96272569 | ||
us-gaap |
Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
|
74938 | ||
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
183556 | ||
us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
9579040 | ||
ctso |
Supplemental Noncash Transactions
SupplementalNoncashTransactions
|
768063 | ||
ctso |
Technology And Content Expense
TechnologyAndContentExpense
|
4550000 | ||
ctso |
Debt Discount
DebtDiscount
|
1644505 | ||
ctso |
Preferred Dividends Accrued Not Yet Paid
PreferredDividendsAccruedNotYetPaid
|
9651744 | ||
ctso |
Consulting Fees
ConsultingFees
|
237836 | ||
ctso |
Change In Fair Value Of Management Units
ChangeInFairValueOfManagementUnits
|
278087 | ||
ctso |
Stock Issued During Period Value Warrants Exercised Cashless
StockIssuedDuringPeriodValueWarrantsExercisedCashless
|
|||
ctso |
Issuance Of Common Shares For Cashless Exercise Of Warrants
IssuanceOfCommonSharesForCashlessExerciseOfWarrants
|
5666616 | shares | |
CY2011Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1114159 | |
CY2011Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | |
CY2011Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-1341182 | |
CY2011Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
854827 | |
CY2011Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
67530 | |
CY2011Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
1114159 | |
CY2011Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-227023 | |
CY2011Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
159137446 | shares |
CY2011Q2 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
877926 | |
CY2011Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1341182 | |
CY2011Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-227023 | |
CY2011Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
191802 | |
CY2011Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2219108 | |
CY2012Q1 | us-gaap |
Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
|
48912 | |
CY2012Q1 | us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
700000 | |
CY2012Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1009503 | |
CY2012Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | |
CY2012Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-1047310 | |
CY2012Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
665750 | |
CY2012Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
73535 | |
CY2012Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
1032465 | |
CY2012Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-37807 | |
CY2012Q2 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
10080 | |
CY2012Q2 | us-gaap |
Revenues
Revenues
|
33042 | |
CY2012Q2 | us-gaap |
Gross Profit
GrossProfit
|
22962 | |
CY2012Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
194439923 | shares |
CY2012Q2 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
577204 | |
CY2012Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1047310 | |
CY2012Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-37807 | |
CY2012Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
293180 | |
CY2012Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1624514 |