Business Context and Reporting Period
This Form 8-K is a current report filed by Medasorb Technologies Corporation (now Cytosorbents Corporation) on May 7, 2010. The filing documents a corporate name change and the associated update to the company's stock ticker symbol.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. Item 9.01 explicitly states that no financial statements or pro forma financial information are included in this report.
Material Changes
- Corporate Name Change: On February 17, 2010, the company filed a Certificate of Amendment with the Nevada Secretary of State to change its name from Medasorb Technologies Corporation to Cytosorbents Corporation.
- Reason for Change: The name change resulted from a settlement agreement with Alkermes, Inc., as previously disclosed in the company's 2009 Annual Report on Form 10-K.
- Ticker Symbol Update: Effective at the open of business on May 7, 2010, the company's new ticker symbol is CTSO.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding future guidance, outlook, risks, contingencies, or unusual items. The document is strictly administrative regarding the name and ticker symbol transition.
Investor Verification Checklist
- Verify the new ticker symbol (CTSO) on trading platforms effective May 7, 2010.
- Review the attached Exhibit 3.01 (Certificate of Amendment) to confirm the legal name change.
- Consult the 2009 Form 10-K for details regarding the settlement agreement with Alkermes, Inc. that necessitated the name change.
- Check subsequent filings for the first financial report issued under the new corporate name.