Business Context and Reporting Period
Cytosorbents Corp filed this Form 8-K on December 5, 2014, reporting corporate actions effective December 3, 2014. The Company executed a 25-for-1 reverse stock split and merged with a wholly-owned Delaware subsidiary.
Key Financial Metrics
This filing is a current report regarding corporate events and does not contain financial statements. Consequently, data on revenue, profit, cash flow, margins, debt, and liquidity are not provided in this document.
Material Changes
- Stock Split: A 25:1 reverse split of common stock was effected.
- Trading Symbol Change: Beginning December 5, 2014, the stock trades on the OTCQB Marketplace under the temporary symbol "CTSOD".
- Symbol Reversion: The symbol is scheduled to revert to "CTSO" on or about January 4, 2015 (after 20 business days).
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or discussion of risks and contingencies. The document focuses solely on the mechanics of the reverse split and the temporary change in the trading symbol.
Investor Verification Checklist
- Verify the adjusted share count and price per share following the 25:1 reverse split.
- Confirm the temporary trading symbol "CTSOD" on the OTCQB Marketplace.
- Monitor the reversion of the trading symbol to "CTSO" around January 4, 2015.
- Review the attached press release (Exhibit 99) for additional details on the corporate restructuring.