CytoSorbents Corporation (CTSO)

[biotech48]

pearsby, stop misleading,you know that Dr. Chan does not want dilutive funding and on July 1, 2016 " CytoSorbents Corporation and its U.S. operating subsidiary, CytoSorbents Medical, Inc. entered into a Loan and Security Agreement with Bridge Bank, securing an initial $5 million 4-year term loan that was funded on June 30, 2016. Interest-only monthly payments are due for the first year and then monthly principal and interest payments are due through the remainder of the term. Prior to June 30, 2017, CytoSorbents has the ability, at its discretion, to receive an additional term loan of $5 million, provided certain conditions are met. If this occurs, the period of interest-only payments on both term loans will be extended by six months through January 31, 2018, followed by 30 months of straight line amortization through the July 1, 2020 maturity date.