CytoSorbents Corporation (CTSO)

[techxen]

Continuing to bolster cash position

One of the primary reasons the company continues to hold these investor meetings is they are building a solid cash position which will help ensure they hit their value creation milestones these next two years for both the REFRESH and HemoDefend trials. This also enables them to avoid a less-than-optimal partnership deal when that time comes, and should they be strategizing about an exit strategy this will bring a much higher acquisition premium.

I think this is also substantiated from a post today from Ping via Yahoo Finance board:

"The recent PRs: today's, the Bridge Bank, and the Cowen conference seem to indicate they are currently in the process of getting more cash in. I think it will be significant amount. The amount is unknown but I expect it will be known before this quarter ends or the first week of July. This is a pattern based on past history."