You can
always find it very helpful to just change your perspective and get in the position and situation of the various market participants and think about what you would do in their place.
Cytosorbents really have something for every taste and therefore the whole situation is very exciting. So here are my thoughts or what I would do in their place:
As a Cytosorbents Board
Basically, almost everything is said here in the Post # 1.961.
As a board member, I would like to see that everything goes well in terms of operations and that the financial and liquidity planning is correct for the next few years.
Against the backdrop of the likely maturing "success fee" and the additional liquid funds required at the beginning of 2019, I would currently use the stock sales program launched in 2015 for further or "final" liquidity procurement. So sell a corresponding number of shares to the $ 8, and so financially finance the company.
There would be nothing more embarrassing for a board member than closing the 5-day stock price over $ 8 on Nasdaq and paying the $ 640,000 success fee to the Bridge Bank and then possibly 8 or 11 Months later, a KE has to perform at prices of eg $ 6.50 or $ 6.00 (because the stock price then stands below $ 8, and you have to "give" a discount to new investors).
To be sure that one goes with a takeover with a "golden handshake", I build me of course, appropriate parachutes or precautionary measures in my contract (see Posting 1.886 ... this one has done so).
As a Short Seller
This is one of the most interesting and complicated positions for me (since I'm pretty bullish too). As a shortseller, I'm of course skeptical about the market capitalization and accordingly, I have built up my short. Operational loss, significantly slower sales growth (than expected by the market) and, above all, more funds needed (in the room standing KE's) play here in the maps and on this I build my strategy and position yes.
To generate further revenue and "risk reduction", I would probably go now and sell $ 7.50 puts (so take a position), the premium I could post as a revenue and if the stock price on the expiry day is below $ 7.50, I leave the To offer shares (I'm short anyway) ... at a stock price on the expiration day of $ 7.50, I have at least collected the premium and this reduces my "short-Einsturskurs".
High stock turnover with strongly rising prices or an approaching takeover are the worst-case !!
As small shareholder or investor
There is no doubt about the rating and this is always very difficult for biotech or medtech companies. If you only use the current sales in 2017 or the preview of 2018, you may not buy the stock. But if you look at the potential (I'm talking about a period from 2021 to 2023, for example) and sometimes the "comparative ratings from the industry", then things look quite different and here CTSO mMn should be clearly undervalued .... ..but that's what everyone has to decide for themselves.
As a potential transferee
Here it will be very exciting again.
Personally, I would probably have started last year to build a larger position (via "intermediate companies") in CTSO.
Given the success-fee, the existing stock sale program and the existing short positions, I would currently massively buy shares at prices up to $ 8.20. Only now you have the opportunity to acquire relatively high volumes at "relatively low prices" and not at the same time unnecessarily drive up the price (the shares are likely to come, inter alia, mainly from the CTSO sales program) and the liquidity flows here so probably also largely CTSO too (thus my subsequent acquisition object and thus indirectly later also me again after the assumption).
In any case, I would aim for a takeover before reaching the break-even point and / or "rapid sales growth" and actually offers itself in mid-2018.
Of course, I can not influence product sales as an intessent, and as a potential buyer, I expect rapid growth here as well.
As a buyer, I can not usually influence the profit and loss of a potential purchase object, but now there is a "special initiative" at CTSO.
In any case, as a transferee, I would be very careful to ensure that CTSO finances itself as much as possible in Q1-2018 and thus has to post the sales commission of 3% to Cantor Fitzgerald as an expense in the income statement (hence expense of approximately $ 450,000 in the Q1 P & L); In addition, I would of course pay attention that in Q1-2018 CTSO already has to pay the success fee of 640,000 dollars to the Bridge Bank and this expense also appears in the Q1 GuV.
As soon as it becomes clear that CTSO is going through with the sales program, you keep your feet reasonably quiet (no major stock purchases for a few weeks) and let the short sellers do their job and return the price below $ 8.
So I'll kill two birds with one stone, I can buy "massive stocks" at around $ 8, and the Q1-2018 statement (released early May 2018) does not look very good, as it adds an extra amount of money approximately 1.1 million dollars must be booked.
This Q1 result is likely to tarnish the European shareholders or possibly even the analysts a bit and keep the stock price on the ground, so you can start in mid-2018 takeover attempt.
