CytoSorbents Corporation (CTSO)

[acm]

The current fully diluted share count is pretty easy to ballpark.

Looking at the conversion in the last Q:

Series A converted to Common: 1,162,323 -> 10,673,236
Conversion Rate: 9.18 shares of common per series A

Series B converted to Common: 4,407 -> 12,174,834
Conversion Rate: 2762.43 shares of common per series B

Starting from the O/S shares: 111,256,867
Convert the remaining Series A: 5,879,463 * 9.18 = 53,989,206
Convert the remaining Series B: 60,604 * 2762.43 = 167,413,090
Add in the warrants*: 16,872,165

Total: 349,531,329

* I excluded the warrants which expired in October and the warrants for 4.98 expiring this summer (If those hit, this conversation is moot!)

This also doesn't count the recent promissory note and its attached warrants or the LPC deal.

So I have to admit my numbers are closer to DR L's, but her 250 million from converts is high. From the current share count on iHub, I would put it closer to 213 million.

I still think there is plenty of money to be made here.