Dilution profile // every instrument, one screen, from SEC filings

Cytosorbents Corp (CTSO)

CIK 1175151 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGHS-3/A on file 2024-09-26
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
LOWwarrants = 9% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
MEDIUM+42% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
HIGH~4.3 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)
the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-11-022026-07-31

Latest: 62.8M shares as of Jul 31, 2026 (10-Q). Share count fell from 581.8M to 24.6M between Nov 7, 2014 and Mar 23, 2015, a pattern consistent with a reverse split (roughly 1-for-24); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Series Right Offering6.3Mnot tagged
Seriesa Right Warrants4.8M$1.13
December132023 Offering2.7M$2
Warrant One1.6M$0.79FV $690,000
Warrant Two1.4M$0.7FV $627,000
Series B Right Warrantsnot tagged$2

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 5.8M underlying shares, as reported Jun 30, 2026 (10-Q).

Reported exercise price: $1.13 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $1.0M as of Jun 30, 2017.

Rough fully diluted estimate: 68.6M = 62.8M O/S + 5.8M warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Loan and Security Agreementnot tagged$17.5M$0.95

Notes exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding62.8MJul 31, 2026
+ Series Right Offering (if exercised)6.3MJan 10, 2025
+ Seriesa Right Warrants (if exercised)4.8MFeb 24, 2025
+ December132023 Offering (if exercised)2.7MDec 13, 2023
+ Warrant One (if exercised)1.6MJun 28, 2024
+ Warrant Two (if exercised)1.4MNov 13, 2025
Fully diluted estimate79.7M+26.9% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3Jul 26, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 0 registered.

EXECUTEDDec 9, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
MARKETINGDec 9, 2024Free-writing prospectus — offering being marketedFWP
EXECUTEDOct 1, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVESep 30, 2024SEC declared a registration effective — selling can beginEFFECT
REGISTEREDSep 26, 2024S-3/A registration — capacity to sell shares, not a sale yetS-3/A
EXECUTEDJul 26, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDJul 26, 2024S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDDec 11, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDDec 30, 2021Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEJul 27, 2021SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJul 20, 2021S-3/A registration — capacity to sell shares, not a sale yetS-3/A
REGISTEREDJul 14, 2021S-3 registration — capacity to sell shares, not a sale yetS-3

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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