2018 Q4 Form 10-Q Financial Statement

#000114420418057624 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $6.081M $5.743M $3.824M
YoY Change 30.86% 50.17% 58.57%
Cost Of Revenue $2.080M $2.053M $1.517M
YoY Change 63.78% 35.32% 57.37%
Gross Profit $3.998M $3.690M $2.307M
YoY Change 18.21% 59.93% 59.37%
Gross Profit Margin 65.74% 64.26% 60.34%
Selling, General & Admin $7.160M $4.041M $3.575M
YoY Change 50.1% 13.03% 67.01%
% of Gross Profit 179.11% 109.5% 154.93%
Research & Development $2.420M $1.943M $643.2K
YoY Change 0.0% 202.15% -45.13%
% of Gross Profit 60.54% 52.66% 27.87%
Depreciation & Amortization $130.0K $140.0K $60.00K
YoY Change 116.67% 133.33% 50.0%
% of Gross Profit 3.25% 3.79% 2.6%
Operating Expenses $9.590M $6.401M $4.456M
YoY Change 33.57% 43.63% 24.07%
Operating Profit -$5.585M -$2.711M -$2.149M
YoY Change 46.78% 26.13% 0.23%
Interest Expense -$440.0K -$185.2K -$253.8K
YoY Change 2100.0% -27.01% 116.26%
% of Operating Profit
Other Income/Expense, Net -$294.1K $94.77K
YoY Change -410.39% -315.83%
Pretax Income -$6.020M -$3.005M -$2.054M
YoY Change 57.59% 46.27% -6.12%
Income Tax -$620.0K $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.400M -$3.005M -$2.054M
YoY Change 71.43% 46.27% -6.12%
Net Earnings / Revenue -88.8% -52.32% -53.72%
Basic Earnings Per Share
Diluted Earnings Per Share -$170.4K -$95.82K -$72.67K
COMMON SHARES
Basic Shares Outstanding 31.65M shares 31.46M shares 28.13M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.40M $24.90M $15.40M
YoY Change 29.48% 61.69% 140.63%
Cash & Equivalents $22.37M $24.91M $15.40M
Short-Term Investments
Other Short-Term Assets $1.100M $600.0K $500.0K
YoY Change 175.0% 20.0% 150.0%
Inventory $833.1K $779.4K $1.100M
Prepaid Expenses
Receivables $3.943M $3.643M $2.400M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $28.26M $29.95M $19.40M
YoY Change 36.28% 54.38% 113.19%
LONG-TERM ASSETS
Property, Plant & Equipment $1.730M $1.677M $1.000M
YoY Change 23.32% 67.7% 66.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.753M $2.622M $1.800M
YoY Change 40.39% 45.67% 50.0%
Total Long-Term Assets $5.933M $4.299M $2.832M
YoY Change 76.36% 51.79% 57.35%
TOTAL ASSETS
Total Short-Term Assets $28.26M $29.95M $19.40M
Total Long-Term Assets $5.933M $4.299M $2.832M
Total Assets $34.20M $34.25M $22.20M
YoY Change 41.88% 54.28% 103.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.486M $1.859M $1.300M
YoY Change 19.4% 43.03% 85.71%
Accrued Expenses $479.8K $2.400M $1.500M
YoY Change 54.66% 60.0% 0.0%
Deferred Revenue $42.22K $35.11K
YoY Change 38.97%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $666.7K $0.00 $3.000M
YoY Change -83.33% -100.0% 620.0%
Total Short-Term Liabilities $6.917M $4.261M $5.778M
YoY Change -11.87% -26.25% 15.56%
LONG-TERM LIABILITIES
Long-Term Debt $9.275M $9.917M $6.966M
YoY Change 54.78% 42.36% 55.51%
Other Long-Term Liabilities $1.100M
YoY Change
Total Long-Term Liabilities $9.275M $9.917M $6.966M
YoY Change 54.78% 42.36% 55.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.917M $4.261M $5.778M
Total Long-Term Liabilities $9.275M $9.917M $6.966M
Total Liabilities $17.26M $14.18M $12.74M
YoY Change 24.72% 11.25% 34.45%
SHAREHOLDERS EQUITY
Retained Earnings -$169.5M -$164.1M -$149.2M
YoY Change 11.3% 10.03%
Common Stock $31.77K $31.63K $28.48K
YoY Change 9.66% 11.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.93M $20.07M $9.474M
YoY Change
Total Liabilities & Shareholders Equity $34.20M $34.25M $22.22M
YoY Change 41.88% 54.15% 103.84%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$5.400M -$3.005M -$2.054M
YoY Change 71.43% 46.27% -6.12%
Depreciation, Depletion And Amortization $130.0K $140.0K $60.00K
YoY Change 116.67% 133.33% 50.0%
Cash From Operating Activities -$2.710M -$2.630M -$2.180M
YoY Change 560.98% 20.64% -11.74%
INVESTING ACTIVITIES
Capital Expenditures -$320.0K -$280.0K -$540.0K
YoY Change -44.83% -48.15% 184.21%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$320.0K -$280.0K -$540.0K
YoY Change -44.83% -48.15% -1000.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 480.0K 2.570M 1.690M
YoY Change -83.45% 52.07% 1590.0%
NET CHANGE
Cash From Operating Activities -2.710M -2.630M -2.180M
Cash From Investing Activities -320.0K -280.0K -540.0K
Cash From Financing Activities 480.0K 2.570M 1.690M
Net Change In Cash -2.550M -340.0K -1.030M
YoY Change -233.51% -66.99% -55.41%
FREE CASH FLOW
Cash From Operating Activities -$2.710M -$2.630M -$2.180M
Capital Expenditures -$320.0K -$280.0K -$540.0K
Free Cash Flow -$2.390M -$2.350M -$1.640M
YoY Change -1505.88% 43.29% -28.07%

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us-gaap Basis Of Accounting
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<div style="text-align:left;"><table style="border: none; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; table-layout: fixed;"><tr><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: top;width: 18pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; background: none; line-height: normal;">&#160;</div></td><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: top;width: 18pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; background: none; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">1.</div></div></div></td><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: top;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; background: none; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">BASIS OF PRESENTATION</div></div></div></td></tr></table><div style="clear:both;"></div><div style="clear:both;"></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The interim financial statements of CytoSorbents Corporation (the &#8220;Company&#8221;) have been prepared in conformity with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;). 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us-gaap Reclassifications
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723651 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3004762 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2054279 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-11808000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-5313780 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-3004762 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-2054279 USD
us-gaap Net Income Loss
NetIncomeLoss
-11808000 USD
CY2018Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
CY2017Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
335731 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3004762 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2054279 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11808000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5649511 USD
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.21
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31305620 shares
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28206437 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30394326 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27231145 shares
us-gaap Net Income Loss
NetIncomeLoss
-5313780 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
99286 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-280078 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1021961 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2905476 USD
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2334357 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11376918 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6335741 USD
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2018-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
Cytosorbents Corp
dei Entity Central Index Key
EntityCentralIndexKey
0001175151
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
CTSO
CY2018Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
31651821 shares
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Small Business
EntitySmallBusiness
true

Files In Submission

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0001144204-18-057624-index-headers.html Edgar Link pending
0001144204-18-057624-index.html Edgar Link pending
0001144204-18-057624.txt Edgar Link pending
0001144204-18-057624-xbrl.zip Edgar Link pending
ctso-20180930.xml Edgar Link completed
ctso-20180930.xsd Edgar Link pending
ctso-20180930_cal.xml Edgar Link unprocessable
ctso-20180930_def.xml Edgar Link unprocessable
ctso-20180930_lab.xml Edgar Link unprocessable
ctso-20180930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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