2015 Q1 Form 10-Q Financial Statement
#000114420415028999 Filed on May 11, 2015
Income Statement
Concept | 2015 Q1 | 2014 Q1 |
---|---|---|
Revenue | $723.1K | $1.062M |
YoY Change | -31.92% | 186.05% |
Cost Of Revenue | $304.5K | $662.5K |
YoY Change | -54.04% | 161.34% |
Gross Profit | $418.6K | $399.6K |
YoY Change | 4.74% | 239.19% |
Gross Profit Margin | 57.89% | 37.62% |
Selling, General & Admin | $1.515M | $1.081M |
YoY Change | 40.23% | 76.22% |
% of Gross Profit | 361.97% | 270.38% |
Research & Development | $951.0K | $236.8K |
YoY Change | 301.66% | -66.37% |
% of Gross Profit | 227.2% | 59.25% |
Depreciation & Amortization | $20.00K | $20.00K |
YoY Change | 0.0% | 100.0% |
% of Gross Profit | 4.78% | 5.0% |
Operating Expenses | $2.682M | $1.554M |
YoY Change | 72.59% | 0.89% |
Operating Profit | -$2.712M | -$1.154M |
YoY Change | 134.94% | -18.85% |
Interest Expense | $2.613K | -$137.1K |
YoY Change | -101.91% | -33.68% |
% of Operating Profit | ||
Other Income/Expense, Net | -$2.454M | $179.1K |
YoY Change | -1470.0% | -186.65% |
Pretax Income | -$4.717M | -$975.1K |
YoY Change | 383.75% | -40.14% |
Income Tax | $0.00 | |
% Of Pretax Income | ||
Net Earnings | -$4.717M | -$975.1K |
YoY Change | 383.75% | -40.14% |
Net Earnings / Revenue | -652.35% | -91.8% |
Basic Earnings Per Share | -$0.19 | |
Diluted Earnings Per Share | -$0.19 | -$83.83K |
COMMON SHARES | ||
Basic Shares Outstanding | 24.64M shares | 298.6M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2015 Q1 | 2014 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $13.40M | $11.20M |
YoY Change | 19.64% | 700.0% |
Cash & Equivalents | $10.42M | $6.416M |
Short-Term Investments | $2.900M | $4.700M |
Other Short-Term Assets | $100.0K | $200.0K |
YoY Change | -50.0% | 100.0% |
Inventory | $702.9K | $146.5K |
Prepaid Expenses | ||
Receivables | $700.0K | $300.0K |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $14.88M | $11.83M |
YoY Change | 25.82% | 455.46% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $330.3K | $155.4K |
YoY Change | 112.55% | 11.19% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $652.2K | $409.7K |
YoY Change | 59.2% | 59.07% |
Total Long-Term Assets | $982.5K | $565.1K |
YoY Change | 73.87% | 42.23% |
TOTAL ASSETS | ||
Total Short-Term Assets | $14.88M | $11.83M |
Total Long-Term Assets | $982.5K | $565.1K |
Total Assets | $15.86M | $12.39M |
YoY Change | 28.01% | 390.48% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $475.2K | $527.6K |
YoY Change | -9.94% | -25.13% |
Accrued Expenses | $700.0K | $400.0K |
YoY Change | 75.0% | 33.33% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $1.700M | |
YoY Change | ||
Total Short-Term Liabilities | $6.198M | $3.299M |
YoY Change | 87.91% | 232.05% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $0.00 | $0.00 |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $6.198M | $3.299M |
Total Long-Term Liabilities | $0.00 | $0.00 |
Total Liabilities | $6.200M | $3.300M |
YoY Change | 87.88% | 232.18% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$129.1M | |
YoY Change | ||
Common Stock | $24.68K | $299.0K |
YoY Change | -91.75% | 30.61% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $9.666M | -$7.259M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $15.86M | $12.39M |
YoY Change | 28.01% | 390.48% |
Cashflow Statement
Concept | 2015 Q1 | 2014 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$4.717M | -$975.1K |
YoY Change | 383.75% | -40.14% |
Depreciation, Depletion And Amortization | $20.00K | $20.00K |
YoY Change | 0.0% | 100.0% |
Cash From Operating Activities | -$2.409M | -$800.1K |
YoY Change | 201.08% | -1.16% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $104.0K | $21.37K |
YoY Change | 386.69% | 877.58% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$990.0K | -$4.750M |
YoY Change | -79.16% | |
Cash From Investing Activities | -$1.135M | -$4.771M |
YoY Change | -76.22% | 218148.44% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $9.409M | $9.451M |
YoY Change | -0.44% | |
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | $10.01M | $9.803M |
YoY Change | 2.13% | 2078.49% |
NET CHANGE | ||
Cash From Operating Activities | -$2.409M | -$800.1K |
Cash From Investing Activities | -$1.135M | -$4.771M |
Cash From Financing Activities | $10.01M | $9.803M |
Net Change In Cash | $6.468M | $4.232M |
YoY Change | 52.83% | -1270.26% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$2.409M | -$800.1K |
Capital Expenditures | $104.0K | $21.37K |
Free Cash Flow | -$2.513M | -$821.5K |
YoY Change | 205.91% | 1.21% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2015Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
10418627 | USD |
CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3605280 | USD |
CY2015Q1 | us-gaap |
Short Term Investments
ShortTermInvestments
|
2939000 | USD |
CY2014Q4 | us-gaap |
Short Term Investments
ShortTermInvestments
|
1944547 | USD |
CY2015Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
672676 | USD |
CY2014Q4 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
819151 | USD |
CY2015Q1 | us-gaap |
Inventory Net
InventoryNet
|
702921 | USD |
CY2014Q4 | us-gaap |
Inventory Net
InventoryNet
|
537566 | USD |
CY2015Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
148498 | USD |
CY2014Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
700462 | USD |
CY2015Q1 | us-gaap |
Assets Current
AssetsCurrent
|
14881722 | USD |
CY2014Q4 | us-gaap |
Assets Current
AssetsCurrent
|
7607006 | USD |
CY2015Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
330308 | USD |
CY2014Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
245821 | USD |
CY2015Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
652237 | USD |
CY2014Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
615798 | USD |
CY2015Q1 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
982545 | USD |
CY2014Q4 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
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CY2015Q1 | us-gaap |
Assets
Assets
|
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CY2014Q4 | us-gaap |
Assets
Assets
|
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CY2015Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
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CY2014Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
698307 | USD |
CY2015Q1 | ctso |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
733869 | USD |
CY2014Q4 | ctso |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
824884 | USD |
CY2015Q1 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
USD | |
CY2014Q4 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
833 | USD |
CY2015Q1 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
4989344 | USD |
CY2014Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
2981418 | USD |
CY2015Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
6198426 | USD |
CY2014Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
4505442 | USD |
CY2015Q1 | us-gaap |
Preferred Stock Value
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|
USD | |
CY2014Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
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CY2015Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
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CY2015Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
15864267 | USD |
CY2015Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
3526 | USD |
CY2014Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
3756 | USD |
CY2015Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
CY2015Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
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CY2015Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
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Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
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Common Stock Shares Authorized
CommonStockSharesAuthorized
|
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CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
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CY2015Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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CY2015Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2014Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
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CY2014Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
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Sales Revenue Goods Net
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|
703658 | USD |
CY2014Q1 | us-gaap |
Sales Revenue Goods Net
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|
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CY2015Q1 | us-gaap |
Revenue From Grants
RevenueFromGrants
|
18583 | USD |
CY2014Q1 | us-gaap |
Revenue From Grants
RevenueFromGrants
|
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CY2015Q1 | us-gaap |
Other Sales Revenue Net
OtherSalesRevenueNet
|
833 | USD |
CY2014Q1 | us-gaap |
Other Sales Revenue Net
OtherSalesRevenueNet
|
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CY2015Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
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Additional Paid In Capital
AdditionalPaidInCapital
|
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Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
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Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
227701 | USD |
CY2015Q1 | us-gaap |
Retained Earnings Accumulated Deficit
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|
-129111062 | USD |
CY2014Q4 | us-gaap |
Retained Earnings Accumulated Deficit
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|
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Stockholders Equity
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|
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Liabilities And Stockholders Equity
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|
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CY2015Q1 | us-gaap |
Common Stock Value
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|
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CY2014Q4 | us-gaap |
Common Stock Value
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|
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CY2015Q1 | us-gaap |
Sales Revenue Net
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|
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CY2014Q1 | us-gaap |
Sales Revenue Net
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|
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Cost Of Goods Sold
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|
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Cost Of Goods Sold
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|
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CY2015Q1 | us-gaap |
Gross Profit
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|
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
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CY2015Q1 | us-gaap |
Net Income Loss
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|
-4716942 | USD |
CY2014Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-975083 | USD |
CY2015Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
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CY2014Q1 | us-gaap |
Gross Profit
GrossProfit
|
399635 | USD |
CY2014Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-137089 | USD |
CY2015Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
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CY2014Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-316200 | USD |
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Nonoperating Income Expense
NonoperatingIncomeExpense
|
-2005313 | USD |
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Nonoperating Income Expense
NonoperatingIncomeExpense
|
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Stock Issued During Period Value Stock Cash Warrants Exercised
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|
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CY2015Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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|
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Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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|
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
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Research And Development Expense
ResearchAndDevelopmentExpense
|
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Comprehensive Income Net Of Tax
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|
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Comprehensive Income Net Of Tax
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|
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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|
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Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
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Stock Issued During Period Value Stock Warrants Exercised
StockIssuedDuringPeriodValueStockWarrantsExercised
|
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CY2014Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
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Professional Fees
ProfessionalFees
|
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Professional Fees
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|
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Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
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Selling General And Administrative Expense
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|
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Operating Expenses
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|
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Operating Expenses
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|
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Operating Income Loss
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|
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Operating Income Loss
OperatingIncomeLoss
|
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CY2015Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
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CY2014Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
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Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
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CY2014Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2089599 | USD |
CY2015Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.19 | |
CY2014Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.20 | |
CY2015Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
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|
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Weighted Average Number Of Share Outstanding Basic And Diluted
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|
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CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
344179 | USD |
CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
833 | USD |
CY2015Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
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CY2015Q1 | ctso |
Stock Issued During Period Value Stock Cash Options Exercised
StockIssuedDuringPeriodValueStockCashOptionsExercised
|
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CY2015Q1 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
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Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
90100 | USD |
CY2015Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
21125 | USD |
CY2014Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
19591 | USD |
CY2015Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
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Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
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Share Based Compensation
ShareBasedCompensation
|
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CY2014Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
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CY2015Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
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CY2014Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
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CY2015Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
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CY2014Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-99085 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-543085 | USD |
CY2014Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-412281 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
7134 | USD |
CY2015Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
339000 | USD |
CY2015Q2 | ctso |
Share Based Compensation Arrangement By Share Based Payment Award Non Vested Options Vested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonVestedOptionsVestedNumber
|
566000 | shares |
CY2015Q1 | ctso |
Share Based Compensation Arrangement By Sharebased Payment Award Nonvested Options Grant Date Fair Value
ShareBasedCompensationArrangementBySharebasedPaymentAwardNonvestedOptionsGrantDateFairValue
|
1388000 | USD |
CY2015Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
10007 | USD |
CY2014Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
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CY2015Q1 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
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CY2014Q1 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
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CY2014Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
USD | |
CY2015Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-283500 | USD |
CY2014Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-240736 | USD |
CY2015Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-833 | USD |
CY2014Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-154995 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2408979 | USD |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-800108 | USD |
CY2015Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
104005 | USD |
CY2014Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
21370 | USD |
CY2015Q1 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
36167 | USD |
CY2014Q1 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
4541 | USD |
CY2015Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
1246547 | USD |
CY2014Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
USD | |
CY2015Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
2241000 | USD |
CY2014Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
4745000 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1134625 | USD |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4770911 | USD |
CY2015Q1 | us-gaap |
Proceeds From Contributed Capital
ProceedsFromContributedCapital
|
9408584 | USD |
CY2014Q1 | us-gaap |
Proceeds From Contributed Capital
ProceedsFromContributedCapital
|
9751455 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
10011841 | USD |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
9803215 | USD |
CY2015Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
345110 | USD |
CY2014Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
833 | USD |
CY2015Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
6813347 | USD |
CY2014Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
4233029 | USD |
CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2183030 | USD |
CY2014Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6416059 | USD |
CY2014Q1 | us-gaap |
Interest Paid
InterestPaid
|
USD | |
CY2015Q1 | ctso |
Fair Value Warrant Liability Upon Issuance
FairValueWarrantLiabilityUponIssuance
|
USD | |
CY2014Q1 | ctso |
Fair Value Warrant Liability Upon Issuance
FairValueWarrantLiabilityUponIssuance
|
862920 | USD |
CY2015Q1 | us-gaap |
Stock Issued1
StockIssued1
|
USD | |
CY2014Q1 | us-gaap |
Stock Issued1
StockIssued1
|
7137 | USD |
CY2015Q1 | ctso |
Supplemental Noncash Transactions
SupplementalNoncashTransactions
|
903916 | USD |
CY2014Q1 | ctso |
Supplemental Noncash Transactions
SupplementalNoncashTransactions
|
748545 | USD |
CY2015Q1 | ctso |
Preferred Dividends Accrued Not Yet Paid
PreferredDividendsAccruedNotYetPaid
|
USD | |
CY2014Q1 | ctso |
Preferred Dividends Accrued Not Yet Paid
PreferredDividendsAccruedNotYetPaid
|
1114516 | USD |
CY2015Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"> <tr style="vertical-align: top;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman'; width: 2%;"><font style="font-size: 10pt;"><b> </b></font></td> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman'; width: 2%;"><font style="font-size: 10pt;"><b>1.</b></font></td> <td style="text-align: justify; padding: 0px; text-indent: 0px; font-family: 'times new roman'; width: 96%;"><font style="font-size: 10pt;"><b>BASIS OF PRESENTATION</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company's interim financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, the Company has made all necessary adjustments, which include normal recurring adjustments necessary for a fair statement of the Company's financial position and results of operations for the interim periods presented. Certain information and disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim financial statements should be read in conjunction with the audited financial statements and accompanying notes for the year ended December 31, 2014 included in the Company's Annual Report on Form 10-K. The results for the three months and nine months ended September 30, 2014 are not necessarily indicative of the results to be expected for a full year, any other interim periods or any future year or period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">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 believes that it has adequate funding for more than the next twelve months of operations, however, it may have to raise additional capital to fund its future operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of March 31, 2015, the Company had an accumulated deficit of $<font>129,111,062</font>, which included net losses of $<font>4,716,942</font> for the three months ended March 31, 2015 and $<font>975,083</font> for the three months ended March 31, 2014. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The Company's losses have resulted principally from costs incurred in the research and development of the Company's polymer technology and selling, general and administrative expenses. The Company intends to continue to conduct significant additional research, development, and clinical study activities which, together with expenses incurred for the establishment of manufacturing arrangements and a marketing and distribution presence and other selling, general and administrative expenses, are expected to result in continuing operating losses for the foreseeable future. The amount of future losses and when, if ever, the Company will achieve profitability are uncertain. The Company's ability to achieve profitability will depend, among other things, on successfully completing the development of the Company's technology and commercial products, obtaining additional requisite regulatory approvals in markets not covered by the CE Mark and for potential label extensions of the Company's current CE Mark, establishing manufacturing and sales and marketing arrangements with third parties, and raising sufficient funds to finance the Company's activities. No assurance can be given that the Company's product development efforts will be successful, that the Company's current CE Mark will enable us to achieve profitability, that additional regulatory approvals in other countries will be obtained, that any of the Company's products will be manufactured at a competitive cost and will be of acceptable quality, or that the Company will be able to achieve profitability or that profitability, if achieved, can be sustained. These matters raise substantial doubt about the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments related to the outcome of this uncertainty.</font></p> </div> | |
CY2015Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><b>Reclassifications</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;">Certain reclassifications have been made to the March 31, 2014 financial statements in order to conform to the 2015 financial statement presentation. There was no change in the reported amount of the accumulated deficit as a result of these reclassifications.</p> </div> | |
CY2015Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <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; text-indent: 0.5in;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The preparation of financial statements in conformity with U.S. GAAP 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 to determine the fair value of the warrant liability.</p> </div> | |
CY2015Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <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; text-indent: 0.5in;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of March 31, 2015, <font>three</font> distributors accounted for approximately <font>55</font>% of outstanding grant and accounts receivable. At December 31, 2014, <font>three</font> distributors accounted for approximately <font>53</font>% of outstanding grant and accounts receivable. For the three months ended March 31, 2015, approximately <font>42</font>% of revenues were from <font>three</font> distributors. No other agency, distributor, or direct customer represented more than 10% of the Company's revenue. For the three months ended March 31, 2014, approximately <font>46</font>% of revenues were from <font>two</font> U.S. government grant agencies, and no other agency, distributor, or direct customer represented more than 10% of the Company's revenue.</p> </div> | |
CY2015Q1 | ctso |
Number Of Countries In Which Product Marketed
NumberOfCountriesInWhichProductMarketed
|
29 | item |
CY2014Q4 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
25 | pure |
CY2015Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
448509 | USD |
CY2014Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
12000 | USD |
CY2015Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
1916293 | USD |
CY2014Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
142693 | USD |
CY2015Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
452949 | USD |
CY2014Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
326047 | USD |
CY2015Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
58343 | USD |
CY2014Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
68826 | USD |
CY2015Q1 | us-gaap |
Advertising Expense
AdvertisingExpense
|
51000 | USD |
CY2014Q1 | us-gaap |
Advertising Expense
AdvertisingExpense
|
116000 | USD |
CY2015Q1 | us-gaap |
Freight Costs
FreightCosts
|
41000 | USD |
CY2014Q1 | us-gaap |
Freight Costs
FreightCosts
|
24000 | USD |
CY2014Q1 | us-gaap |
Dividends Preferred Stock Stock
DividendsPreferredStockStock
|
1114516 | USD |
CY2015Q1 | ctso |
Underwriters Expenses
UnderwritersExpenses
|
85000 | USD |
CY2015Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
736000 | shares |
CY2014Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
816000 | shares |
CY2015Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
64000 | USD |
CY2014Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
816000 | shares |
CY2014Q1 | ctso |
Fair Value Warrant Liability Upon Issuance
FairValueWarrantLiabilityUponIssuance
|
862920 | USD |
CY2014Q1 | us-gaap |
Share Price
SharePrice
|
6.00 | |
CY2015Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
1250000 | shares |
CY2015Q1 | us-gaap |
Share Price
SharePrice
|
8.25 | |
CY2015Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
10312500 | USD |
CY2015Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
9409000 | USD |
CY2015Q1 | ctso |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableAggregateIntrinsicValue
|
18350000 | USD |
CY2015Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
1521479 | shares |
CY2014Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
874530 | shares |
CY2014Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
1.37 | |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
11000 | shares |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.21 | |
CY2015Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
|
106620 | shares |
CY2015Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
|
0.06 | |
CY2015Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
384326 | shares |
CY2015Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
0.06 | |
CY2015Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
394584 | shares |
CY2015Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
0.07 | |
CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2302187 | shares |
CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
5.37 | |
CY2014 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y1M6D | |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
11000 | shares |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
4.40 | |
CY2015Q1 | ctso |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Granted In Period Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingGrantedInPeriodWeightedAverageRemainingContractualTerm
|
P5Y6M | |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
106620 | shares |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
4.88 | |
CY2015Q1 | ctso |
Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriodWeightedAverageRemainingContractualTerm
|
P9Y2M12D | |
CY2015Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
11396 | shares |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
4.18 | |
CY2015Q1 | ctso |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageRemainingContractualTerm
|
P6Y1M6D | |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
shares | |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
||
CY2015Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2195171 | shares |
CY2015Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
5.39 | |
CY2015Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P5Y10M24D | |
CY2015Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2015 | |
CY2015Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2015Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2015Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2015Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2015-03-31 | |
CY2015Q1 | dei |
Trading Symbol
TradingSymbol
|
ctso | |
CY2015Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Smaller Reporting Company | |
CY2015Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
Cytosorbents Corp | |
CY2015Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001175151 | |
CY2015Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
24764744 | shares |
CY2015Q1 | dei |
Document Type
DocumentType
|
10-Q |