CTSO · Cytosorbents Corp · Fails to Deliver

Substantial doubt about the company's ability to continue as a going concern.

“approximately $4.4 million in unrestricted cash and cash equivalents and $1.5 million of non-current restricted cash which may not be sufficient to fund the Company's operations beyond the next twelve months from the issuance of these condensed consolidated financial statements. These cash and restricted cash balances considered with our historical and expected future cash used in operations, notwithstanding our Strategic Workforce and Cost Reduction Plan and the impact of the Amended Loan and Security Agreement, raises substantial doubt about the Company's ability to continue as a going concern within twelve months after the date that the accompanying condensed consolidated financial statements are issued.”