Cytosorbents (CTSO) 10-Q14 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	12-May-14
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'ctso	'
Entity Registrant Name	'Cytosorbents Corp	'
Entity Central Index Key	'0001175151	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	300,737,732

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
Current Assets:	'	'
Cash and cash equivalents	$6,416,059	$2,183,030
Grants and accounts receivable, net of allowance for doubtful accounts at $-0-	327,321	453,017
Short-term investments	4,745,000	'
Inventories	146,523	245,608
Prepaid expenses and other current assets	193,031	605,312
Total current assets	11,827,934	3,486,967
Property and equipment - net	155,401	144,393
Other assets	409,687	414,375
Total long-term assets	565,088	558,768
Total Assets	12,393,022	4,045,735
Current Liabilities:	'	'
Accounts payable	527,647	786,517
Accrued expenses and other current liabilities	379,834	361,700
Deferred revenue	117,364	272,359
Warrant liability	546,720	'
Convertible notes payable, net of debt discount in the amount of $115,863 at March 31, 2014 and $198,644 at December 31, 2013	1,727,137	1,644,356
Total current liabilities	3,298,702	3,064,932
Redeemable Series B Convertible Preferred Stock, par Value $0.001, 200,000 shares authorized at March 31, 2014 and December 31, 2013, respectively, 81,319.98 and 79,336.54 issued and outstanding , respectively	16,353,131	15,246,350
Stockholders' Equity (Deficit):	'	'
10% Series A Convertible Preferred Stock, 12,000,000 shares authorized; 1,803,660 and 1,759,666 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	1,804	1,760
Common Stock, 800,000,000 shares authorized; 299,025,590 and 251,319,547 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	299,026	251,320
Additional paid-in capital	100,390,887	91,343,135
Accumulated other comprehensive loss	-55,154	-55,987
Deficit accumulated during the development stage	-107,895,374	-105,805,775
Total stockholders' equity (deficiency)	-7,258,811	-14,265,547
Total Liabilities and Stockholders' Equity (Deficiency)	$12,393,022	$4,045,735

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Allowance for doubtful accounts	$0	$0
Convertible notes payable current, debt discount	$115,863	$198,644
Preferred Stock, shares authorized	100,000,000	100,000,000
Common Stock, Par Value	$0.00	$0.00
Common Stock, shares authorized	800,000,000	800,000,000
Common Stock, shares issued	299,025,590	251,319,547
Common Stock, shares outstanding	299,025,590	251,319,547
Series B Redeemable Convertible Preferred Stock [Member]	'	'
Preferred Stock, shares authorized	200,000	200,000
Preferred Stock, shares issued	81,319.98	79,336.54
Preferred Stock, shares outstanding	81,319.98	79,336.54
10% Series A Preferred Stock [Member]	'	'
Preferred Stock, shares authorized	12,000,000	12,000,000
Preferred Stock, shares issued	1,803,660	1,759,666
Preferred Stock, shares outstanding	1,803,660	1,759,666

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		206 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Revenue:	'	'	'
Sales	$569,243	$176,098	$1,578,682
Grant income	491,262	195,232	4,283,949
Other revenue	1,667	'	1,667
Total revenue	1,062,172	371,330	5,864,298
Cost of revenue	662,537	253,511	3,407,973
Gross margin	399,635	117,819	2,456,325
Other Expenses:	'	'	'
Research and development	236,774	704,141	55,905,171
Legal, financial and other consulting	310,308	222,746	9,804,087
Selling, general and administrative	1,006,747	613,162	29,994,709
Change in fair value of management and incentive units	'	'	-6,055,483
Total expenses	1,553,829	1,540,049	89,648,484
Loss from operations	-1,154,194	-1,422,230	-87,192,159
Other (income)/expense:	'	'	'
Gain on disposal of property and equipment	'	'	-21,663
Gain on extinguishment of debt	'	'	-216,617
Interest expense/(income), net	137,089	206,712	7,861,482
Penalties associated with non-registration of Series A Preferred Stock	'	'	361,495
Change in warrant liability	-316,200	'	-316,200
Total other (income)/expense, net	-179,111	206,712	7,668,497
Loss before benefit from income taxes	-975,083	-1,628,942	-94,860,656
Benefit from income taxes	'	'	-1,397,353
Net loss	-975,083	-1,628,942	-93,463,303
Preferred stock dividend	1,114,516	586,417	14,432,071
Net loss available to common shareholders	-2,089,599	-2,215,359	-107,895,374
Basic and diluted net loss per common share	($0.01)	($0.01)	'
Weighted average number of shares of common stock outstanding	265,479,874	222,968,576	'
Net loss	-975,083	-1,628,942	-93,463,303
Other comprehensive loss:	'	'	'
Currency translation adjustment	833	-2,402	-55,154
Comprehensive loss	($974,250)	($1,631,344)	($93,518,457)

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIENCY) (USD $)	Total	Series B Redeemable Convertible Preferred Stock [Member]	Common Stock [Member]	Preferred Stock A [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Deficit Accumulated During Development Stage [Member]
Balance at Dec. 31, 2013	($14,265,547)	$15,246,350	$251,320	$1,760	$91,343,135	($105,805,775)	($55,987)
Balance, shares at Dec. 31, 2013	'	79,336.54	251,319,547	1,759,666	'	'	'
Stock based compensation - employees, consultants and directors	57,372	'	'	'	57,372	'	'
Issuance of common stock for services rendered	90,100	'	750	'	89,350	'	'
Issuance of common stock for services rendered, shares	750,000	'	750,000	'	'	'	'
Issuance of Series A Preferred Stock as dividends	'	'	'	44	7,691	'	-7,735
Issuance of Series A Preferred Stock as dividends, shares	'	'	'	43,994	'	'	'
Issuance of Series B Preferred Stock as dividends	-1,106,781	1,106,781	'	'	'	'	-1,106,781
Issuance of Series B Preferred Stock as dividends, shares	'	1,983.44	'	'	'	'	'
Issuance of common stock for cash	300,000	'	2,483	'	297,517	'	'
Issuance of common stock for cash, shares	'	'	2,483,399	'	'	'	'
Issuance of common stock - financing	10,200,000	'	40,800	'	10,159,200	'	'
Issuance of common stock - financing, shares	'	'	40,800,000	'	'	'	'
Cost of raising capital	-748,545	'	'	'	-748,545	'	'
Cashless exercise of warrants	'	'	2,247	'	-2,247	'	'
Cashless exercise of warrants, shares	'	'	2,246,574	'	'	'	'
Other comprehensive income/(loss): foreign translation adjustment	833	'	'	'	'	833	'
Relative fair value of warrants and beneficial conversion feature in connection with issuance of convertible notes	'	'	'	'	'	'	'
Exercise of stock options	51,760	'	1,426	'	50,334	'	'
Exercise of stock options (in shares)	1,441,300	'	1,426,070	'	'	'	'
Warrant liability	-862,920	'	'	'	-862,920	'	'
Net loss	-975,083	'	'	'	'	'	-975,083
Balance at Mar. 31, 2014	($7,258,811)	$16,353,131	$299,026	$1,804	$100,390,887	($107,895,374)	($55,154)
Balance, shares at Mar. 31, 2014	'	81,319.98	299,025,590	1,803,660	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended		206 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Cash flows from operating activities:	'	'	'
Net loss	($975,083)	($1,628,942)	($93,463,303)
Adjustments to reconcile net loss to net cash used by operating activities:	'	'	'
Common stock issued as inducement to convert convertible notes payable and accrued interest	'	'	3,351,961
Issuance of common stock to consultants for services	90,100	'	185,568
Depreciation and amortization	19,591	14,145	2,587,962
Amortization of debt discount	82,781	178,775	2,859,758
Gain on disposal of property and equipment	'	'	-21,663
Gain on extinguishment of debt	'	'	-216,617
Interest expense paid with Series B Preferred Stock in connection with conversion of notes payable	'	'	3,147
Abandoned patents	'	'	183,556
Bad debts - employee advances	'	'	255,882
Contributed technology expense	'	'	4,550,000
Consulting expense	'	'	237,836
Management unit expense	'	'	1,334,285
Expense for issuance of warrants	'	'	533,648
Expense for issuance of options	57,372	225,900	3,082,497
Amortization of deferred compensation	'	'	74,938
Penalties in connection with non-registration event	'	'	361,496
Change in warrant liability	-316,200	'	-316,200
Changes in operating assets and liabilities:	'	'	'
Grants and accounts receivable	125,696	-62,825	-327,321
Inventories	99,085	127,112	-146,523
Prepaid expenses and other current assets	412,281	381,851	-464,579
Other assets	'	-9,442	-53,895
Accounts payable and accrued expenses	-240,736	-36,035	2,983,816
Accrued interest expense	'	'	1,823,103
Deferred revenue	-154,995	'	117,364
Net cash used by operating activities	-800,108	-809,461	-70,483,284
Cash flows from investing activities:	'	'	'
Proceeds from sale of property and equipment	'	'	32,491
Purchases of property and equipment	-21,370	-2,186	-2,480,864
Patent costs	-4,541	'	-680,727
Purchases of short-term investments	-4,745,000	'	-5,138,607
Proceeds from sale of short-term investments	'	'	393,607
Loan receivable	'	'	-1,632,168
Net cash used by investing activities	-4,770,911	-2,186	-9,506,268
Cash flows from financing activities:	'	'	'
Proceeds from issuance of preferred stock, net of related issuance costs	'	'	9,579,040
Equity contributions - net of fees incurred	9,751,455	450,000	62,423,223
Proceeds from borrowings	'	'	13,731,881
Proceeds from subscription receivables	'	'	499,395
Proceeds from exercise of stock options	51,760	'	87,700
Proceeds from exercise of warrants	'	'	139,526
Net cash provided by financing activities	9,803,215	450,000	86,460,765
Effect of exchange rates on cash	833	-2,402	-55,154
Net change in cash and cash equivalents	4,233,029	-364,049	6,416,059
Cash and cash equivalents - beginning of period	2,183,030	1,729,344	'
Cash and cash equivalents - end of period	6,416,059	1,365,295	6,416,059
Supplemental disclosure of cash flow information:	'	'	'
Cash paid during the period for interest	'	'	590,189
Supplemental schedule of noncash investing and financing activities:	'	'	'
Debt discount in connection with issuance of convertible debt	'	'	1,975,322
Fair value of warrant liability upon issuance	862,920	'	862,920
Fair value of shares issued as costs of raising capital	7,137	10,413	640,270
Note payable principal and interest conversion to equity	'	1,226,042	13,175,491
Issuance of management units in settlement of cost of raising capital	'	'	437,206
Change in fair value of management units for cost of raising capital	'	'	278,087
Issuance of common stock in exchange for stock subscribed	'	'	399,395
Costs paid from proceeds in conjunction with issuance of preferred stock	748,545	'	1,516,608
Preferred stock dividends	1,114,516	586,417	14,432,071
Net effect of conversion of common stock to preferred stock prior to merger	'	'	559
Leasehold Improvements	'	'	'
Supplemental schedule of noncash investing and financing activities:	'	'	'
Issuance of member units	'	'	141,635
Loans Receivable	'	'	'
Supplemental schedule of noncash investing and financing activities:	'	'	'
Issuance of member units	'	'	1,632,168
Accounts Payable	'	'	'
Supplemental schedule of noncash investing and financing activities:	'	'	'
Issuance of member units	'	'	$1,614,446

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	3 Months Ended		206 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
	Series B Preferred Stock [Member]	Series B Preferred Stock [Member]	Series B Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member]
				Series B Preferred Stock [Member]	Series A Preferred Stock [Member]
Preferred Shares converted into Common shares	0	0	22,784.49	'	'
Common shares issued upon conversion	'	'	'	62,912,304	43,728,457

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2014
BASIS OF PRESENTATION [Abstract]	'
BASIS OF PRESENTATION	'
	1	BASIS OF PRESENTATION

	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of Form 10-Q of the Securities and Exchange Commission (the "Commission") and include the results of CytoSorbents Corporation (the "Parent"), CytoSorbents, Inc., its wholly-owned operating subsidiary (the "Subsidiary"), and CytoSorbents Europe GmbH, its wholly-owned European subsidiary (the "European Subsidiary"), collectively referred to as "the Company."

	Accordingly, certain information and footnote disclosures required in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. Interim statements are subject to possible adjustments in connection with the annual audit of the Company's accounts for the year ended December 31, 2014. In the opinion of the Company's management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) which the Company considers necessary for the fair presentation of the Company's consolidated financial position as of March 31, 2014 and the results of its operations and cash flows for the three month periods ended March 31, 2014 and 2013, and for the period January 22, 1997 (date of inception) to March 31, 2014. Results for the three months ended are not necessarily indicative of results that may be expected for the entire year. The unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended December 31, 2013 as included in the Company's Form 10-K filed with the Commission on March 31, 2014.

	The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has experienced negative cash flows from operations since inception and has a deficit accumulated during the development stage at March 31, 2014 of $107,895,374. The Company is not currently generating significant revenue and is dependent on the proceeds of present and future financings to fund its research, development and commercialization program. The Company currently has adequate funding for more than the next twelve months of operations, however, it may have to raise additional capital to fund future operations. Although the Company has historically been successful in raising additional capital through equity and debt financings, there can be no assurance that the Company will be successful in raising additional capital in the future or that it will be on favorable terms. Furthermore, if the Company is successful in raising the additional financing, there can be no assurance that the amount will be sufficient to complete the Company's plans. These matters raise substantial doubt about the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments related to the outcome of this uncertainty.

	The Company is a development stage company and has not yet generated significant revenues. Since inception, the Company's expenses relate primarily to research and development, organizational activities, clinical manufacturing, regulatory compliance and operational strategic planning. Although the Company has made advances on these matters, there can be no assurance that the Company will continue to be successful regarding these issues, nor can there be any assurance that the Company will successfully implement its long-term strategic plans.

PRINCIPAL_BUSINESS_ACTIVITY_AN

PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2014
PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	2	PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

	Nature of Business

	The Company, through its subsidiary CytoSorbents, Inc., is engaged in the research, development and commercialization of medical devices with its platform blood purification technology incorporating a proprietary adsorbent polymer technology. The Company, through CytoSorbents Europe, GmbH, its European subsidiary, has commenced initial sales and marketing related operations for the CytoSorb® device in the European Union. The Company is focused on developing this technology for multiple applications in the medical field, specifically to provide improved blood purification for the treatment of acute and chronic health complications associated with blood toxicity. In March 2011, the Company received CE Mark approval for its CytoSorb® device. As of March 31, 2014, the Company had only limited commercial operations and, accordingly, is in the development stage. The Company has yet to generate any significant revenue and has no assurance of future revenue.

	The technology is based upon biocompatible, highly porous polymer sorbent beads that are capable of extracting unwanted substances from blood and other bodily fluids. The technology is protected by 32 issued U.S. patents with multiple patent applications pending both in the United States and internationally. Our intellectual property consists of composition of matter, materials, methods of production systems incorporating the technology, and multiple medical uses with expiration dates ranging from 3 to 12 years.

	Principles of Consolidation

	The consolidated financial statements include the accounts of CytoSorbents Corporation, the Parent, and its wholly-owned subsidiaries, CytoSorbents, Inc. and CytoSorbents Europe GmbH. All significant intercompany transactions and balances have been eliminated in consolidation.

	Development Stage Corporation

	The accompanying consolidated financial statements have been prepared in accordance with the provisions of accounting and reporting by development stage enterprises.

	Cash and Cash Equivalents

	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

	Grants and Accounts Receivable

	Grants receivable represent amounts due from United States government agencies. Accounts receivable are unsecured, non-interest bearing customer obligations due under normal trade terms. The Company sells its devices to various hospitals and distributors. The Company performs ongoing credit evaluations of customers' financial condition. Management reviews accounts receivable periodically to determine collectability. Balances that are determined to be uncollectible are written off to the allowance for doubtful accounts. The allowance for doubtful accounts contains a general accrual for estimated bad debts and had a balance of zero at March 31, 2014 and December 31, 2013.

	Short-Term Investments

	Short-term investments include certificates of deposit with original maturities of greater than three months.

	Inventories

	Inventories are valued at the lower of cost or market. At March 31, 2014 and December 31, 2013 the Company's inventory was comprised of finished goods, which amounted to $16,863 and $107,098, respectively, work in process which amounted to $99,455 and $100,528, respectively and raw materials, which amounted to $30,205 and $37,982, respectively. Devices used in clinical trials or for research and development purposes are removed from inventory and charged to research and development expenses at the time of their use.

	Property and Equipment

	Property and equipment are recorded at cost less accumulated depreciation. Depreciation of property and equipment is provided for by the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lesser of their economic useful lives or the term of the related leases. Gains and losses on depreciable assets retired or sold are recognized in the statements of operations in the year of disposal. Repairs and maintenance expenditures are expensed as incurred.

	Patents

	Legal costs incurred to establish and successfully defend patents are capitalized. When patents are issued, capitalized costs are amortized on the straight-line method over the related patent term. In the event a patent is abandoned, the net book value of the patent is written off.

	Impairment or Disposal of Long-Lived Assets

	The Company assesses the impairment of patents and other long-lived assets under accounting standards for the impairment or disposal of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. For long-lived assets to be held and used, the Company recognizes an impairment loss only if its carrying amount is not recoverable through its undiscounted cash flows and measures the impairment loss based on the difference between the carrying amount and fair value.

	Warrant Liability

	The Company recognizes the fair value of the warrants as of the date of the warrant grant using the binomial lattice valuation model. At each subsequent reporting date, the company again measures the fair value of the warrants, and records a change to the warrant liability as appropriate, and the change is reported in the statement of operations.

	Revenue Recognition

	Product Sales: Revenues from sales of products are recognized at the time of delivery when title and risk of loss passes to the customer. Recognition of revenue also requires reasonable assurance of collection of sales proceeds and completion of all performance obligations.

	Grant Revenue: Revenue from grant income is based on contractual agreements. Certain agreements provide for reimbursement of costs, while other agreements provide for reimbursement of costs and an overhead margin. Revenues are recognized when milestones have been achieved and revenues have been earned. Costs are recorded as incurred. Costs subject to reimbursement by these grants have been reflected as costs of revenue.

	Deferred Revenue: The Company defers revenue that has been received but not yet earned on government contracts and product sales. This revenue will be recognized as income in the period in which the revenue is earned. All deferred revenue is expected to be earned within a one year of the balance sheet date.

	Research and Development

	All research and development costs, payments to laboratories and research consultants are expensed when incurred.

	Advertising Expenses

	Advertising costs are charged to activities when incurred. Advertising expenses amounted to approximately $116,000 and $57,000 for the three months ended March 31, 2014 and 2013, respectively and is included in selling, general, and administrative expenses on the consolidated statement of operations.

Income Taxes

Income taxes are accounted for under the asset and liability method prescribed by accounting standards for accounting for income taxes. Deferred income taxes are recorded for temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities reflect the tax rates expected to be in effect for the years in which the differences are expected to reverse. A valuation allowance is provided if it is more likely than not that some or all of the deferred tax asset will not be realized. Under Section 382 of the Internal Revenue Code the net operating losses generated prior to the reverse merger may be limited due to the change in ownership. Additionally, net operating losses generated subsequent to the reverse merger may be limited in the event of changes in ownership.

The Company follows accounting standards associated with uncertain tax positions. The Company had no unrecognized tax benefits at March 31, 2014 or December 31, 2013. The Company files tax returns in the U.S. federal and state jurisdictions. The Company currently has no open years prior to December 31, 2010 and has no income tax related penalties or interest for the periods presented in these financial statements.

The Company's European subsidiary, CytoSorbents Europe GmbH annually files a corporate tax return, VAT return and a trade tax return in Germany.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities. Actual results could differ from these estimates. Significant estimates in these financials are the valuation of options granted, the valuation of preferred shares issued as stock dividends, valuation methods used to determine the fair value of the warrant liability, and valuation methods used in determining any debt discount associated with convertible securities.

Concentration of Credit Risk

The Company maintains cash balances, at times, with financial institutions in excess of amounts insured by the Federal Deposit Insurance Corporation. Management monitors the soundness of these institutions in an effort to minimize its collection risk of these balances.

As of March 31, 2014, one U.S. Government agency accounted for approximately 18.2% of outstanding grant and accounts receivable. At December 31, 2013, one U.S. Government agency accounted for approximately 66 percent of outstanding accounts receivable. For the three months ended March 31, 2014, approximately 46.2% of revenues were from two U.S. government agencies, and no other agency, distributor, or direct customer represented more than 10% of the Company's revenue. For the three months ended March 31, 2013, approximately 52.6% of revenue was from one U.S. government grant agency.

Financial Instruments

The carrying values of cash and cash equivalents, short-term investments, accounts payable, notes payable, and other debt obligations approximate their fair values due to their short-term nature.

Net Loss Per Common Share

Basic EPS is computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period. The computation of Diluted EPS does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on earnings (See Note 7).

Stock-Based Compensation

The Company accounts for its stock-based compensation under the recognition requirements of accounting standards for accounting for stock-based compensation, for employees and directors whereby each option granted is valued at fair market value on the date of grant. Under these accounting standards, the fair value of each option is estimated on the date of grant using the Black-Scholes option pricing model.

The Company also follows the guidance of accounting standards for accounting for equity instruments that are issued to other than employees for acquiring, or in conjunction with selling, goods or services for equity instruments issued to consultants.

Effects of Recent Accounting Pronouncements

There have been no recently issued accounting standards, which would have an impact on the Company's financial statements.

Shipping and Handling Costs

The costs of shipping product to customers and distributors is typically borne by the customer or distributor. The Company records other shipping and handling costs in Research and Development. Total freight costs amounted to approximately $24,000 and $10,000 for the three months ended March 31, 2014 and March 31, 2013 respectively.

CONVERTIBLE_NOTES

CONVERTIBLE NOTES	3 Months Ended
	Mar. 31, 2014
CONVERTIBLE NOTES [Abstract]	'
CONVERTIBLE NOTES	'
		3	CONVERTIBLE NOTES

	On September 30, 2013 (the "September Closing Date"), the Company issued convertible notes to certain accredited investors (the "September Purchasers"), whereby the Company agreed to sell and the September Purchasers agreed to purchase the convertible notes in the aggregate principal amount of $745,000 (the "September Notes"). The September Notes mature one (1) year from the September Closing Date (the "September Maturity Date"), bear interest at an annual rate of 8%, and automatically convert into shares of the Company's common stock, $0.001 par value per share (the "Common Stock"), at a conversion price of $0.10 at maturity or earlier at the option of the September Purchaser. Full conversion of the principal value of the September Notes would result in the issuance of 7,450,000 shares of Common Stock. In connection with the issuance of the September Notes, the Company issued warrants to purchase shares of Common Stock, providing 50% coverage, exercisable at $0.125 per share (the "September Warrants").

	On June 21, 2013 (the "June Closing Date"), the Company issued convertible notes to certain accredited investors (the "June Purchasers"), whereby the Company agreed to sell and the June Purchasers agreed to purchase the convertible notes in the aggregate principal amount of $1,098,000 (the "June Notes"). The June Notes mature one (1) year from the June Closing Date (the "June Maturity Date"), bear interest at an annual rate of 8%, and automatically convert into shares of the Company's common stock, $0.001 par value per share (the "Common Stock"), at a conversion price of $0.125 at maturity or earlier at the option of the June Purchaser. Full conversion of the principal value of the June Notes would result in the issuance of 8,784,000 shares of Common Stock. In connection with the issuance of the June Notes, the Company issued warrants to purchase shares of Common Stock, providing 50% coverage, exercisable at $0.15 per share (the "June Warrants").

	At March 31, 2014, the Company had convertible notes ("Convertible Notes") totaling approximately $1,727,000 net of debt discount of approximately $116,000. The Convertible Notes stipulate that in the event at any time during the term of the Convertible Note, the Company closes on any debt or equity financing in an aggregate amount greater than or equal to $750,000, the noteholders will have the right to exchange the note for the equivalent dollar amount of securities sold in the new financing. The Company is not required to repay the Convertible Notes in cash, and there are no registration rights on the common stock underlying the Convertible Notes or Warrants.

	The Company allocates the proceeds associated with the issuance of promissory notes based on the relative fair value of the promissory notes and warrants. Additionally, the Company evaluates if the embedded conversion option results in a beneficial conversion feature by comparing the relative fair value allocated to the promissory notes to the market value of the underlying Common Stock subject to conversion. In connection with the promissory note issuances during the years ended December 31, 2013, the Company received proceeds of $1,843,000. The Company allocated the proceeds in accordance with FASB Codification Topic 470 based on the related fair value as follows: $1,511,883 was allocated to the promissory notes and $171,012 to the warrants. Additionally, the embedded conversion feature resulted in a beneficial conversion feature in the amount of $160,105. The value assigned to the warrants resulting from the relative fair value calculation as well as the value of the beneficial conversion feature is recorded as a debt discount and is presented in the consolidated balance sheets. The debt discount is being amortized to interest expense over the term of the promissory notes. During the three months ended March 31, 2014 and 2013, debt discount of approximately $83,000 and $179,000, respectively, was charged to interest expense.

STOCKHOLDERS_EQUITY_DEFICIT

STOCKHOLDERS' EQUITY (DEFICIT)	3 Months Ended
STOCKHOLDERS' EQUITY (DEFICIT)	Mar. 31, 2014
STOCKHOLDERS' EQUITY (DEFICIT) [Abstract]	'
STOCKHOLDERS' EQUITY (DEFICIT)	'
		4	STOCKHOLDERS' EQUITY (DEFICIT)

	On March 7, 2014, the Company entered into subscription agreements with certain investors providing for the issuance and sale by the Company (the "Offering") of 40,800,000 units (the "Units") for an aggregate purchase price of $10,200,000. Each Unit is comprised of one share of the Company's Common Stock, priced at $0.25 per share, par value $0.001 per share and a warrant to purchase 0.50 shares of Common Stock at an exercise price of $0.3125 per share. The warrants are convertible into a total of 20,400,000 shares of common stock. Each warrant is exercisable for a period of five (5) years beginning on March 11, 2014, the date of the closing of the sale of these securities, and are only exercisable for cash and are only exercisable if there is an effective registration statement registering the warrants and shares underlying the warrants. The common stock underlying these warrants were registered in the registration statement on Form S-1 filing (File No. 333-193053) which was declared effective by the securities and Exchange Commission on February 14, 2014 and an additional registration statement on Form S-1 (File No. 333-194394).

	The Company received net proceeds from the Offering of approximately $9,451,000 million. The net proceeds received by the Company from the Offering will be used for building additional sales and marketing infrastructure, clinical studies, working capital and general corporate purposes.

	The Company conducted the Offering pursuant to a registration statement on Form S-1 (File No. 333-193053) which was declared effective by the Securities and Exchange Commission on February 14, 2014 and an additional registration statement on Form S-1 (File No. 333-194394) to register an additional amount of securities having a proposed maximum aggregate offering price of $2,762,500, which increased the total registered amount to $16,575,000 assuming the full cash exercise of the warrants for cash. The Company filed a final prospectus on March 7, 2014, disclosing the final terms of the Offering.

	In connection with the Offering, on March 7, 2014, the Company entered into a placement agency agreement with Brean Capital, LLC pursuant to which the placement agent agreed to act as the Company's exclusive placement agent for the Offering and sale of the Units.

	In connection with the successful completion of the Offering, the placement agent received an aggregate cash placement agent fee equal to 6% of the gross proceeds of the sale of the Units in the Offering and a warrant to purchase 1,224,000 shares of Common Stock at an exercise price of $0.30 per share exercisable for five years from the effective date of the placement agency agreement. The placement agent warrant contains piggy-back registration rights which expire on the fifth anniversary of the effective date of the registration statement. The Company has also agreed to reimburse the placement agent for actual out-of-pocket expenses up to a maximum of 2% of gross proceeds from the transaction. The Company also granted the placement agent a right of first refusal to participate in any subsequent offering or placement of its securities that takes place within twelve months following the effective date of the registration statement.

	During the three months ended March 31, 2014, the Company recorded non-cash stock dividends totaling $1,114,516 in connection with the issuance of 1,983.44 shares of Series B Preferred Stock and 43,994 shares of Series A Preferred Stock as a stock dividend to its preferred shareholders as of March 31, 2014.

	During the three months ended March 31, 2014, the Company incurred stock-based compensation expense due to the issuance of stock options, and amortization of unvested stock options. The aggregate expense for the three months ended March 31, 2014 is approximately $57,000, of which approximately $52,000 was recorded in general and administrative expenses and approximately $5,000 was recorded as research and development expenses

	The summary of the stock option activity for the three months ended March 31, 2014 is as follows:

							Weighted
							Average			Weighted
							Exercise			Average
							Price			Remaining
			Shares				per Share			Life (Years)

	Outstanding, January 1, 2014			47,923,642			$	0.2			5.1
	Granted			14,675,000			$	0.19			9.96
	Cancelled			(5,395,250	)		$	0.12			8.23
	Exercised			(1,441,300			$	0.04			4.09
	Outstanding March 31, 2014			55,762,092			$	0.21			6.74

	The fair value of each stock option was estimated using the Black-Scholes pricing model which takes into account as of the grant date the exercise price (ranging from $0.195 to $0.24 per share) and expected life of the stock option (ranging from 5-10 years), the current price of the underlying stock and its expected volatility (approximately 28%), expected dividends (0%) on the stock and the risk free interest rate (0.8 to 1.7%) for the term of the stock option.

	At March 31, 2014, the aggregate intrinsic value of options outstanding and currently exercisable amounted to approximately $2,933,000.

	The summary of the status of the Company's non-vested options for the three months ended March 31, 2014 is as follows:

							Weighted
							Average
							Grant
							Date
			Shares				Fair Value

	Non-vested, January 1, 2014			13,418,000			$	0.034
	Granted			14,675,000			$	0.058
	Cancelled			(4,561,250	)		$	0.031
	Vested			(537,250	)		$	0.014

	Non-vested, March 31, 2014			22,994,500			$	0.049

	As of March 31, 2014, approximately $186,000 of total unrecognized compensation cost related to stock options. In March 2014, the Board of Directors set aside a pool of 14,010,000 options to be awarded to the Company's employees if the Company achieves certain specific, predetermined milestones. The grant date fair value of these unvested options amounts to approximately $2,397,500. Due to the uncertainty over whether these options will vest, which only occurs if the Company meets the predetermined milestones, no charge for these options has been recorded in the consolidated statements of operations for the three months ended March 31, 2014. The Company will evaluate on an ongoing basis the probability and likelihood of any of these performance milestones being achieved and will accrue charges as it becomes likely that they will be achieved.

	As of March 31, 2014, the Company has the following warrants to purchase common stock outstanding:

	Number of Shares				Warrant				Warrant
	Number of Shares				Exercise				Warrant
	To be Purchased				Price per Share				Expiration Date

		397,825			$	0.0362			30-Sep-14
		1,750,000			$	0.1			16-Aug-15
		1,600,000			$	0.125			16-Aug-15
		1,333,333			$	0.15			16-Aug-15
		490,000			$	0.1			22-Oct-15
		196,000			$	0.125			22-Oct-15
	163,333			$	0.15			22-Oct-15
	500,000			$	0.1			19-Nov-15
	200,000			$	0.125			19-Nov-15
	166,667			$	0.15			19-Nov-15
	3,350,000			$	0.1			15-Feb-16
	1,540,000			$	0.125			15-Feb-16
	1,416,666			$	0.15			15-Feb-16
	240,125			$	1.25			24-Oct-16
	1,166,667			$	0.175			10-Feb-17
	4,392,000			$	0.15			21-Jun-18
	3,725,000			$	0.125			30-Sep-18
	20,400,000			$	0.3125			11-Mar-19
	1,224,000			$	0.3			11-Mar-19
	44,251,616

In addition, during the three months ended March 31, 2014, the Company issued 750,000 shares of Common Stock to a vendor for consulting services, 1,441,300 options were exercised for 1,426,070 shares of Common Stock, and 2,246,574 warrants were exercised for a like amount of shares of Common Stock.

In December 2011, the Company terminated a purchase agreement with Lincoln Park Capital Fund, LLC ("LPC") and executed a new purchase agreement (the "New Purchase Agreement"), and a registration rights agreement with LPC. Under the New Purchase Agreement, LPC is obligated, under certain conditions, to purchase from the Company up to $8.5 million of our Common Stock, from time to time over a thirty-two (32) month period.

The Company has the right, but not the obligation, to direct LPC to purchase up to $8,500,000 of its Common Stock in amounts up to $50,000 as often as every two business days under certain conditions. The Company can also accelerate the amount of its Common Stock to be purchased under certain circumstances. No sales of Common Stock may occur at a purchase price below $0.10 per share or without a registration statement having been declared effective. The purchase price of the Common Stock will be based on the market prices of our Common Stock at the time of sale as computed under the New Purchase Agreement without any fixed discount. The Company may at any time at its sole discretion terminate the New Purchase Agreement without fee, penalty or cost upon one business days' notice.

There was no up-front commitment fee paid to LPC for entering into the New Purchase Agreement. In the event the Company directs LPC to purchase up to $8,500,000 of its Common Stock, the Company is obligated to issue up to an additional 1,634,615 commitment fee shares of Common Stock on a pro rata basis. LPC may not assign any of its rights or obligations under the New Purchase Agreement.

During the three months ended March 31, 2014 the Company received approximately $300,000 as proceeds from the sale of 2,425,709 shares of Common Stock per the terms of the New Purchase Agreement with LPC at an average price of approximately $0.124 per share of Common. Per the terms of the New Purchase Agreement the Company also issued an additional 57,690 shares of Common Stock as additional Commitment Fee shares.

As of March 31, 2014, $2,400,000 remained available under the New Purchase Agreement with LPC. The New Purchase Agreement terminates in August 2014.

WARRANT_LIABILITY

WARRANT LIABILITY	3 Months Ended
WARRANT LIABILITY	Mar. 31, 2014
WARRANT LIABILITY [Abstract]	'
WARRANTY LIABILITY	'
	5	WARRANT LIABILITY

	In connection with its March 11, 2014 financing, the Company issued 20,400,000 warrants. The Company recognizes these warrants as liabilities at their fair value on the date of grant, then measures the fair value of the warrants on each reporting date, and records a change to the warrant liability as appropriate. The warrants have certain pricing provisions which apply if the Company sells or issues common stock or common stock equivalents at a price that is less than the exercise price of the warrants, over the life of the warrants, excluding certain exempt issuances.

	The Company recognized an initial warrant liability for the warrants issued in connection with the registered public offering completed in March 2014. The initial warrant liability recognized on the related warrants totaled $862,920, which was based on the March 11, 2014 five-day weighted average closing price of a share of our Common Stock of $0.24. On March 31, 2014, the five day weighted average closing price of was $0.202. Due to the fluctuations in the market value of our common stock from March 11, 2014 through March 31, 2014, we recorded a change in the fair value of the warrant liability of $316,200 during the three months ended March 31, 2014.

	The assumptions used in connection with the valuation of warrants issued utilizing the binomial lattice valuation model were as follows:

			March 31,			Initial
			2014			Measurement
						March 11,
						2014

	Number of shares underlying the warrants			20,400,000			20,400,000
	Exercise price		$	0.3125		$	0.3125
	Volatility			28.3	%		28.3	%
	Risk-free interest rate			1.73	%		1.62	%
	Expected dividend yield			0			0
	Expected warrant life (years)			4.95			5
	Stock Price		$	0.202		$	0.24

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2014
COMMITMENTS AND CONTINGENCIES [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
		6	COMMITMENTS AND CONTINGENCIES

	Employment Agreements

	The Company is currently in the process of renewing employment agreements with certain key executives.

	Litigation

	We are from time to time subject to claims and litigation arising out of the ordinary course of business. We intend to defend vigorously against any future claims and litigation. We are not currently a party to any legal proceedings.

	Royalty Agreements

	Pursuant to an agreement dated August 11, 2003, an existing investor agreed to make a $4 million equity investment in the Company. These amounts were received by the Company in 2003. In connection with this agreement, the Company granted the investor a future royalty of 3% on all gross revenues received by the Company from the sale of its CytoSorb® device. For the three months ended March 31, 2014 the Company has recorded royalty costs of approximately $17,000.

	License Agreements

	In September 2006, the Company entered into a license agreement which provides the Company the exclusive right to use its patented technology and proprietary know how relating to adsorbent polymers for a period of 18 years. Under the terms of the agreement, the Company has agreed to pay royalties of 2.5% to 5% on the sale of certain of its products if and when those products are sold commercially for a term not greater than 18 years commencing with the first sale of such product. For the three months ended March 31, 2014 per the terms of the license agreement the Company has recorded royalty costs of approximately $14,000.

	Warrant Agreement

	As inducement to invest additional funds in the private placement of Series B Preferred Stock, additional consideration was granted to the participants of the Series B Preferred Stock offering in the event that litigation is commenced against CytoSorbents prior to June 30, 2018, claiming patent infringement on certain of the Company's issued patents. In the event this litigation arises the Company may be required to issue warrants to purchase in the aggregate up to a maximum of ten million shares of Common Stock subject to certain adjustments. Through March 31, 2014 no such litigation has arisen and due to the deemed low probability of this potential outcome; the Company has not booked a contingent liability for this agreement.

NET_LOSS_PER_SHARE

NET LOSS PER SHARE	3 Months Ended
	Mar. 31, 2014
NET LOSS PER SHARE [Abstract]	'
NET LOSS PER SHARE	'
		7	NET LOSS PER SHARE

	Basic loss per share and diluted loss per share for the three months ended March 31, 2014 and 2013 have been computed by dividing the net loss for each respective period by the weighted average number of shares outstanding during that period. All outstanding warrants and options representing approximately 100,014,000 and 60,895,000 incremental shares at March 31, 2014 and 2013, respectively, as well as shares issuable upon conversion of Series A and Series B Preferred Stock representing approximately 226,211,000 and 205,496,000 incremental shares at March 31, 2014 and 2013, respectively, as well as potential shares issuable upon Note conversion into Common Stock representing approximately 16,234,000 and 0- incremental shares at March 31, 2014 and 2013, respectively, have been excluded from the computation of diluted loss per share as they are anti-dilutive.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2014
SUBSEQUENT EVENTS [Abstract]	'
SUBSEQUENT EVENTS	'
	.	SUBSEQUENT EVENTS

	The Company has evaluated subsequent events occurring after the balance sheet date through the date of the issuance of this report.

	In April, 2014, we announced distribution of CytoSorb^® in the Middle East, including Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman (the Gulf Cooperation Council or GCC) and Yemen, Iraq, and Jordan through an exclusive agreement with Techno Orbits. This multi-year agreement is subject to annual minimum guaranteed orders of CytoSorb^® to maintain exclusivity.

PRINCIPAL_BUSINESS_ACTIVITY_AN1

PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2014
PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
Nature of Business	'
	Nature of Business

	The Company, through its subsidiary CytoSorbents, Inc., is engaged in the research, development and commercialization of medical devices with its platform blood purification technology incorporating a proprietary adsorbent polymer technology. The Company, through CytoSorbents Europe, GmbH, its European subsidiary, has commenced initial sales and marketing related operations for the CytoSorb® device in the European Union. The Company is focused on developing this technology for multiple applications in the medical field, specifically to provide improved blood purification for the treatment of acute and chronic health complications associated with blood toxicity. In March 2011, the Company received CE Mark approval for its CytoSorb® device. As of March 31, 2014, the Company had only limited commercial operations and, accordingly, is in the development stage. The Company has yet to generate any significant revenue and has no assurance of future revenue.

	The technology is based upon biocompatible, highly porous polymer sorbent beads that are capable of extracting unwanted substances from blood and other bodily fluids. The technology is protected by 32 issued U.S. patents with multiple patent applications pending both in the United States and internationally. Our intellectual property consists of composition of matter, materials, methods of production systems incorporating the technology, and multiple medical uses with expiration dates ranging from 3 to 12 years.
Principles of Consolidation	'
	Principles of Consolidation

	The consolidated financial statements include the accounts of CytoSorbents Corporation, the Parent, and its wholly-owned subsidiaries, CytoSorbents, Inc. and CytoSorbents Europe GmbH. All significant intercompany transactions and balances have been eliminated in consolidation.

Development Stage Corporation	'
	Development Stage Corporation

	The accompanying consolidated financial statements have been prepared in accordance with the provisions of accounting and reporting by development stage enterprises.

Cash and Cash Equivalents	'
	Cash and Cash Equivalents

	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Grants and Accounts Receivable	'
	Grants and Accounts Receivable

	Grants receivable represent amounts due from United States government agencies. Accounts receivable are unsecured, non-interest bearing customer obligations due under normal trade terms. The Company sells its devices to various hospitals and distributors. The Company performs ongoing credit evaluations of customers' financial condition. Management reviews accounts receivable periodically to determine collectability. Balances that are determined to be uncollectible are written off to the allowance for doubtful accounts. The allowance for doubtful accounts contains a general accrual for estimated bad debts and had a balance of zero at March 31, 2014 and December 31, 2013.

Short-Term Investments	'
	Short-Term Investments

	Short-term investments include certificates of deposit with original maturities of greater than three months.
Inventories	'
	Inventories

	Inventories are valued at the lower of cost or market. At March 31, 2014 and December 31, 2013 the Company's inventory was comprised of finished goods, which amounted to $16,863 and $107,098, respectively, work in process which amounted to $99,455 and $100,528, respectively and raw materials, which amounted to $30,205 and $37,982, respectively. Devices used in clinical trials or for research and development purposes are removed from inventory and charged to research and development expenses at the time of their use.

Property and Equipment	'
	Property and Equipment

	Property and equipment are recorded at cost less accumulated depreciation. Depreciation of property and equipment is provided for by the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lesser of their economic useful lives or the term of the related leases. Gains and losses on depreciable assets retired or sold are recognized in the statements of operations in the year of disposal. Repairs and maintenance expenditures are expensed as incurred.

Patents	'
	Patents

	Legal costs incurred to establish and successfully defend patents are capitalized. When patents are issued, capitalized costs are amortized on the straight-line method over the related patent term. In the event a patent is abandoned, the net book value of the patent is written off.

Impairment or Disposal of Long-Lived Assets	'
	Impairment or Disposal of Long-Lived Assets

	The Company assesses the impairment of patents and other long-lived assets under accounting standards for the impairment or disposal of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. For long-lived assets to be held and used, the Company recognizes an impairment loss only if its carrying amount is not recoverable through its undiscounted cash flows and measures the impairment loss based on the difference between the carrying amount and fair value.

Warrant Liability	'
	Warrant Liability

	The Company recognizes the fair value of the warrants as of the date of the warrant grant using the binomial lattice valuation model. At each subsequent reporting date, the company again measures the fair value of the warrants, and records a change to the warrant liability as appropriate, and the change is reported in the statement of operations.

Revenue Recognition	'
	Revenue Recognition

	Product Sales: Revenues from sales of products are recognized at the time of delivery when title and risk of loss passes to the customer. Recognition of revenue also requires reasonable assurance of collection of sales proceeds and completion of all performance obligations.

	Grant Revenue: Revenue from grant income is based on contractual agreements. Certain agreements provide for reimbursement of costs, while other agreements provide for reimbursement of costs and an overhead margin. Revenues are recognized when milestones have been achieved and revenues have been earned. Costs are recorded as incurred. Costs subject to reimbursement by these grants have been reflected as costs of revenue.

	Deferred Revenue: The Company defers revenue that has been received but not yet earned on government contracts and product sales. This revenue will be recognized as income in the period in which the revenue is earned. All deferred revenue is expected to be earned within a one year of the balance sheet date.
Research and Development	'
	Research and Development

	All research and development costs, payments to laboratories and research consultants are expensed when incurred.

Advertising Expenses	'
	Advertising Expenses

	Advertising costs are charged to activities when incurred. Advertising expenses amounted to approximately $116,000 and $57,000 for the three months ended March 31, 2014 and 2013, respectively and is included in selling, general, and administrative expenses on the consolidated statement of operations.

Income Taxes	'
	Income Taxes

	Income taxes are accounted for under the asset and liability method prescribed by accounting standards for accounting for income taxes. Deferred income taxes are recorded for temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities reflect the tax rates expected to be in effect for the years in which the differences are expected to reverse. A valuation allowance is provided if it is more likely than not that some or all of the deferred tax asset will not be realized. Under Section 382 of the Internal Revenue Code the net operating losses generated prior to the reverse merger may be limited due to the change in ownership. Additionally, net operating losses generated subsequent to the reverse merger may be limited in the event of changes in ownership.

	The Company follows accounting standards associated with uncertain tax positions. The Company had no unrecognized tax benefits at March 31, 2014 or December 31, 2013. The Company files tax returns in the U.S. federal and state jurisdictions. The Company currently has no open years prior to December 31, 2010 and has no income tax related penalties or interest for the periods presented in these financial statements.

	The Company's European subsidiary, CytoSorbents Europe GmbH annually files a corporate tax return, VAT return and a trade tax return in Germany.

Use of Estimates	'
	Use of Estimates

	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities. Actual results could differ from these estimates. Significant estimates in these financials are the valuation of options granted, the valuation of preferred shares issued as stock dividends, valuation methods used to determine the fair value of the warrant liability, and valuation methods used in determining any debt discount associated with convertible securities.

Concentration of Credit Risk	'
	Concentration of Credit Risk

	The Company maintains cash balances, at times, with financial institutions in excess of amounts insured by the Federal Deposit Insurance Corporation. Management monitors the soundness of these institutions in an effort to minimize its collection risk of these balances.

	As of March 31, 2014, one U.S. Government agency accounted for approximately 18.2% of outstanding grant and accounts receivable. At December 31, 2013, one U.S. Government agency accounted for approximately 66 percent of outstanding accounts receivable. For the three months ended March 31, 2014, approximately 46.2% of revenues were from two U.S. government agencies, and no other agency, distributor, or direct customer represented more than 10% of the Company's revenue. For the three months ended March 31, 2013, approximately 52.6% of revenue was from one U.S. government grant agency.

Financial Instruments	'
	Financial Instruments

	The carrying values of cash and cash equivalents, short-term investments, accounts payable, notes payable, and other debt obligations approximate their fair values due to their short-term nature.

Net Loss Per Common Share	'
	Net Loss Per Common Share

	Basic EPS is computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period. The computation of Diluted EPS does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on earnings (See Note 7).

Stock-Based Compensation	'
	Stock-Based Compensation

	The Company accounts for its stock-based compensation under the recognition requirements of accounting standards for accounting for stock-based compensation, for employees and directors whereby each option granted is valued at fair market value on the date of grant. Under these accounting standards, the fair value of each option is estimated on the date of grant using the Black-Scholes option pricing model.

	The Company also follows the guidance of accounting standards for accounting for equity instruments that are issued to other than employees for acquiring, or in conjunction with selling, goods or services for equity instruments issued to consultants.

Effects of Recent Accounting Pronouncements	'
	Effects of Recent Accounting Pronouncements

	There have been no recently issued accounting standards, which would have an impact on the Company's financial statements.

Shipping and Handling Costs	'
	Shipping and Handling Costs

	The costs of shipping product to customers and distributors is typically borne by the customer or distributor. The Company records other shipping and handling costs in Research and Development. Total freight costs amounted to approximately $24,000 and $10,000 for the three months ended March 31, 2014 and March 31, 2013 respectively.

STOCKHOLDERS_EQUITY_DEFICIT_Ta

STOCKHOLDERS' EQUITY (DEFICIT) (Tables)	3 Months Ended
STOCKHOLDERS' EQUITY (DEFICIT) (Tables)	Mar. 31, 2014
STOCKHOLDERS' EQUITY (DEFICIT) [Abstract]	'
Summary of Stock Option Activity	'
	The summary of the stock option activity for the three months ended March 31, 2014 is as follows:

							Weighted
							Average			Weighted
							Exercise			Average
							Price			Remaining
			Shares				per Share			Life (Years)

	Outstanding, January 1, 2014			47,923,642			$	0.2			5.1
	Granted			14,675,000			$	0.19			9.96
	Cancelled			(5,395,250	)		$	0.12			8.23
	Exercised			(1,441,300			$	0.04			4.09
	Outstanding March 31, 2014			55,762,092			$	0.21			6.74

Summary of Status of Non-Vested Options	'
	The summary of the status of the Company's non-vested options for the three months ended March 31, 2014 is as follows:

							Weighted
							Average
							Grant
							Date
			Shares				Fair Value

	Non-vested, January 1, 2014			13,418,000			$	0.034
	Granted			14,675,000			$	0.058
	Cancelled			(4,561,250	)		$	0.031
	Vested			(537,250	)		$	0.014

	Non-vested, March 31, 2014			22,994,500			$	0.049

Warrants to Purchase Common Stock	'
	As of March 31, 2014, the Company has the following warrants to purchase common stock outstanding:

	Number of Shares				Warrant				Warrant
	Number of Shares				Exercise				Warrant
	To be Purchased				Price per Share				Expiration Date

		397,825			$	0.0362			30-Sep-14
		1,750,000			$	0.1			16-Aug-15
		1,600,000			$	0.125			16-Aug-15
		1,333,333			$	0.15			16-Aug-15
		490,000			$	0.1			22-Oct-15
		196,000			$	0.125			22-Oct-15
		163,333			$	0.15			22-Oct-15
		500,000			$	0.1			19-Nov-15
		200,000			$	0.125			19-Nov-15
		166,667			$	0.15			19-Nov-15
		3,350,000			$	0.1			15-Feb-16
		1,540,000			$	0.125			15-Feb-16
		1,416,666			$	0.15			15-Feb-16
		240,125			$	1.25			24-Oct-16
		1,166,667			$	0.175			10-Feb-17
		4,392,000			$	0.15			21-Jun-18
		3,725,000			$	0.125			30-Sep-18
		20,400,000			$	0.3125			11-Mar-19
		1,224,000			$	0.3			11-Mar-19
		44,251,616

WARRANT_LIABILITY_Tables

WARRANT LIABILITY (Tables)	3 Months Ended
WARRANT LIABILITY (Tables)	Mar. 31, 2014
WARRANT LIABILITY [Abstract]	'
Schedule of Warrant Liability	'
	The assumptions used in connection with the valuation of warrants issued utilizing the binomial lattice valuation model were as follows:

		March 31,			Initial
		2014			Measurement
					March 11,
					2014

	Number of shares underlying the warrants		20,400,000			20,400,000
	Exercise price	$	0.3125		$	0.3125
	Volatility		28.3	%		28.3	%
	Risk-free interest rate		1.73	%		1.62	%
	Expected dividend yield		0			0
	Expected warrant life (years)		4.95			5
	Stock Price	$	0.202		$	0.24

BASIS_OF_PRESENTATION_Details

BASIS OF PRESENTATION (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
BASIS OF PRESENTATION [Abstract]	'	'
Deficit accumulated during the development stage	$107,895,374	$105,805,775

PRINCIPAL_BUSINESS_ACTIVITY_AN2

PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended			3 Months Ended			12 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Minimum [Member]	Maximum [Member]	Accounts receivable [Member]	Accounts receivable [Member]	Revenue [Member]	Revenue [Member]
Concentration Risk [Line Items]	'	'	'	'	'	'	'	'	'
Inventory of finished goods	$16,863	'	$107,098	'	'	'	'	'	'
Inventory of work in progress	99,455	'	100,528	'	'	'	'	'	'
Inventory of raw materials	30,205	'	37,982	'	'	'	'	'	'
Accounts receivable, allowance for doubtful accounts	0	'	0	'	'	'	'	'	'
Concentration risk percentage	'	'	'	'	'	18.20%	66.00%	46.20%	52.60%
Advertising	116,000	57,000	'	'	'	'	'	'	'
Shipping and handling expenses	$24,000	$10,000	'	'	'	'	'	'	'
Number of patents issued	32	'	'	'	'	'	'	'	'
Amortization Period	'	'	'	'3 years	'12 years	'	'	'	'

CONVERTIBLE_NOTES_Details

CONVERTIBLE NOTES (Details) (USD $)	1 Months Ended		3 Months Ended		12 Months Ended	206 Months Ended
CONVERTIBLE NOTES (Details) (USD $)	Sep. 30, 2013	Jun. 21, 2013	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014	Mar. 11, 2014	Dec. 31, 2012	Jan. 21, 1997
Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'
Promissory notes, aggregate principal amount	$745,000	$1,098,000	'	'	'	'	'	'	'
Promissory note, maturity period	'1 year	'1 year	'	'	'	'	'	'	'
Number of shares underlying the warrants	'	'	20,400,000	'	'	20,400,000	20,400,000	'	'
Promissory note, convertible, conversion price per share	$0.13	$0.13	'	'	'	'	'	'	'
Percentage of principal amount used to calculate shares of common stock for warrant coverage	50.00%	50.00%	'	'	'	'	'	'	'
Exercise price of warrant	$0.10	$0.15	'	'	'	'	'	'	'
Fair value of convertible notes	'	'	'	'	1,511,883	'	'	'	'
Fair value of warrants	'	'	'	'	171,012	'	'	'	'
Debt instrument, beneficial conversion feature	'	'	'	'	160,105	'	'	'	'
Convertible notes payable	'	'	1,727,000	'	'	1,727,000	'	'	'
Debt discount to be amortized	'	'	116,000	'	'	116,000	'	'	'
Interest rate	8.00%	8.00%	'	'	'	'	'	'	'
Common shares issued in exchange for convertible notes	7,450,000	8,784,000	'	'	'	'	'	'	'
Interest expense	'	'	83,000	179,000	'	'	'	'	'
Common Stock, Par Value	'	'	$0.00	'	$0.00	$0.00	'	'	'
Proceeds from borrowings	'	'	'	'	1,843,000	13,731,881	'	'	'
Prepaid expenses and other current assets	'	'	193,031	'	605,312	193,031	'	'	'
Cash and cash equivalents	'	'	6,416,059	1,365,295	2,183,030	6,416,059	'	1,729,344	'
Minimum [Member]	'	'	'	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'
Aggregate closing rate of debt or equity financing	'	'	$750,000	'	'	'	'	'	'

STOCKHOLDERS_EQUITY_DEFICIT_Na

STOCKHOLDERS' EQUITY (DEFICIT) (Narrative) (Details) (USD $)

0 Months Ended

3 Months Ended

206 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

206 Months Ended

Mar. 07, 2014

Mar. 11, 2014

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Feb. 14, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2011

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Stock Options [Member]

Maximum [Member]

Minimum [Member]

Research and development [Member]

General and administrative [Member]

Common Stock [Member]

Lincoln Park Capital Fund, LLC [Member]

New Purchase Agreement [Member]

10% Series A Preferred Stock [Member]

Stock Options [Member]

Stockholders Equity [Line Items]

Preferred Stock, shares authorized

100,000,000

12,000,000

Issuance of Series B Preferred Stock as dividends, shares

Issuance of Series A Preferred Stock as dividends, shares

Preferred stock dividend

$1,114,516

$586,417

$14,432,071

Convertible preferred stock, conversion price

$0.25

Preferred stock, conversion, percent of stated value

0.00%

Number of preferred shares converted

40,800,000

9,558,112

Common shares issued upon conversion

20,400,000

Exercise price

$0.31

$0.24

$0.20

Expected warrant life (years)

'5 years

'4 years 11 months 12 days

'10 years

'5 years

Volatility

28.30%

28.00%

Expected dividend yield

0.00%

Risk free interest rate, minimum

0.80%

Risk free interest rate, maximum

1.70%

Aggregate intrinsic value of options outstanding and exercisable

2,933,000

Unrecognized compensation cost related to stock option

186,000

Non-vested options expected to vest

14,010,000

Grant date fair value of these unvested options

2,397,500

Conversion of convertible notes to common share

10,200,000

1,226,042

13,175,491

Number of common stock issued in exchange for convertible notes

1,426,070

Purchase agreement, amount of shares

16,575,000

2,762,500

8,500,000

Period for purchase of common stock under agreement

'32 months

Amount of shares that can be sold as often as every two business days

500,000

Issuance price of common stock per share

$0.10

Number of business days in which up to $50,000 amount of stock can be sold

'2 years

Issuance of common stock for cash, shares

2,483,399

2,425,709

Proceeds from issuance of common stock

9,451,000

300,000

Common stock shares to be issued

2,400,000

Issuance of common stock for services rendered, shares

750,000

Number of shares to be purchased

44,251,616

Warrant exercise price per share

0.5

Options exercisable

1,441,300

Exercisable - weighted average exercise price

$0.12

Shares called by options

20,400,000

Stock-based compensation expense

$57,000

$5,000

$52,000

Additional shares issued

1,634,615

57,690

STOCKHOLDERS_EQUITY_DEFICIT_Su

STOCKHOLDERS' EQUITY (DEFICIT) (Summary of Stock Option Activity) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Shares	'
Outstanding, beginning balance	47,923,642
Granted	14,675,000
Cancelled	-5,395,250
Exercised	-1,441,300
Outstanding, ending balance	55,762,092
Weighted Average Exercise Price per Share	'
Outstanding, beginning balance	$0.20
Granted	$0.19
Cancelled	$0.12
Exercised	$0.04
Outstanding, ending balance	$0.21
Weighted Average Remaining Contractual Life (Years)	'
Outstanding, beginning balance	'5 years 1 month 6 days
Granted	'9 years 11 months 16 days
Cancelled	'8 years 2 months 23 days
Exercised	'4 years 1 month 2 days
Outstanding, ending balance	'6 years 8 months 27 days

STOCKHOLDERS_EQUITY_DEFICIT_Su1

STOCKHOLDERS' EQUITY (DEFICIT) (Summary of Status of Non-Vested Options) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Shares	'
Non-vested, beginning balance	13,418,000
Granted	14,675,000
Cancelled	-4,561,250
Vested	-537,250
Non-vested, ending balance	22,994,500
Weighted Average Grant Date Fair Value	'
Non-vested, beginning balance	$0.03
Granted	$0.06
Cancelled	$0.03
Vested	$0.01
Non-vested, ending balance	$0.05

STOCKHOLDERS_EQUITY_DEFICIT_Wa

STOCKHOLDERS' EQUITY (DEFICIT) (Warrants to Purchase Common Stock) (Details)	Mar. 31, 2014	Mar. 07, 2014
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	44,251,616	'
Warrant Exercise Price per Share	'	0.5
Warrant 1	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	397,825	'
Warrant Exercise Price per Share	0.0362	'
Warrant Expiration Date	'	'
Warrant Expiration Date	30-Sep-14	'
Warrant 2	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	1,750,000	'
Warrant Exercise Price per Share	0.1	'
Warrant Expiration Date	'	'
Warrant Expiration Date	16-Aug-15	'
Warrant 3	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	1,600,000	'
Warrant Exercise Price per Share	0.125	'
Warrant Expiration Date	'	'
Warrant Expiration Date	16-Aug-15	'
Warrant 4	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	1,333,333	'
Warrant Exercise Price per Share	0.15	'
Warrant Expiration Date	'	'
Warrant Expiration Date	16-Aug-15	'
Warrant 5	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	490,000	'
Warrant Exercise Price per Share	0.1	'
Warrant Expiration Date	'	'
Warrant Expiration Date	22-Oct-15	'
Warrant 6	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	196,000	'
Warrant Exercise Price per Share	0.125	'
Warrant Expiration Date	'	'
Warrant Expiration Date	22-Oct-15	'
Warrant 7	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	163,333	'
Warrant Exercise Price per Share	0.15	'
Warrant Expiration Date	'	'
Warrant Expiration Date	22-Oct-15	'
Warrant 8	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	500,000	'
Warrant Exercise Price per Share	0.1	'
Warrant Expiration Date	'	'
Warrant Expiration Date	19-Nov-15	'
Warrant 9	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	200,000	'
Warrant Exercise Price per Share	0.125	'
Warrant Expiration Date	'	'
Warrant Expiration Date	19-Nov-15	'
Warrant 10	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	166,667	'
Warrant Exercise Price per Share	0.15	'
Warrant Expiration Date	'	'
Warrant Expiration Date	19-Nov-15	'
Warrant 11	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	3,350,000	'
Warrant Exercise Price per Share	0.1	'
Warrant Expiration Date	'	'
Warrant Expiration Date	15-Feb-16	'
Warrant 12	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	1,540,000	'
Warrant Exercise Price per Share	0.125	'
Warrant Expiration Date	'	'
Warrant Expiration Date	15-Feb-16	'
Warrant 13	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	1,416,666	'
Warrant Exercise Price per Share	0.15	'
Warrant Expiration Date	'	'
Warrant Expiration Date	15-Feb-16	'
Warrant 14	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	240,125	'
Warrant Exercise Price per Share	1.25	'
Warrant Expiration Date	'	'
Warrant Expiration Date	24-Oct-16	'
Warrant 15	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	1,166,667	'
Warrant Exercise Price per Share	0.175	'
Warrant Expiration Date	'	'
Warrant Expiration Date	10-Feb-17	'
Warrant 16	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	4,392,000	'
Warrant Exercise Price per Share	0.15	'
Warrant Expiration Date	'	'
Warrant Expiration Date	21-Jun-18	'
Warrant 17	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	3,725,000	'
Warrant Exercise Price per Share	0.125	'
Warrant Expiration Date	'	'
Warrant Expiration Date	30-Sep-18	'
Warrant 18	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	20,400,000	'
Warrant Exercise Price per Share	0.3125	'
Warrant Expiration Date	'	'
Warrant Expiration Date	11-Mar-19	'
Warrant 19	'	'
Stockholders Equity [Line Items]	'	'
Number of Shares To be Purchased	1,224,000	'
Warrant Exercise Price per Share	0.3	'
Warrant Expiration Date	'	'
Warrant Expiration Date	11-Mar-19	'

WARRANT_LIABILITY_Schedule_of_

WARRANT LIABILITY (Schedule of Warranty Liability) (Details) (USD $)	0 Months Ended		3 Months Ended		206 Months Ended
	Mar. 07, 2014	Mar. 11, 2014	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
WARRANT LIABILITY [Abstract]	'	'	'	'	'
Number of shares underlying the warrants	'	20,400,000	20,400,000	'	20,400,000
Exercise price	$0.31	$0.31	$0.31	'	$0.31
Volatility	'	28.30%	28.30%	'	'
Risk free interest rate	'	1.62%	1.73%	'	'
Expected dividend yield	'	0.00%	0.00%	'	'
Expected warrant life (years)	'5 years	'5 years	'4 years 11 months 12 days	'	'
Stock Price	'	$0.24	$0.20	'	$0.20
Fair value of warrant liability upon issuance	'	'	$862,920	'	$862,920
Change in warrant liability	'	'	($316,200)	'	($316,200)

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) (USD $)	0 Months Ended	3 Months Ended	1 Months Ended	3 Months Ended
	Aug. 11, 2003	Mar. 31, 2014	Sep. 30, 2006	Mar. 31, 2014
	Royalty Agreements [Member]	Royalty Agreements [Member]	License Agreement [Member]	License Agreement [Member]
Commitments and Contingencies Disclosure [Line Items]	'	'	'	'
Equity investment by an existing investor	$4,000,000	'	'	'
Future royalty payment percentage on gross gross revenue	3.00%	'	'	'
Royalty cost	'	$17,000	'	$14,000
Term of License Agreement	'	'	'18 years	'
Royalty rate, lower limit	'	'	2.50%	'
Royalty rate, upper limit	'	'	5.00%	'

NET_LOSS_PER_SHARE_Details

NET LOSS PER SHARE (Details)	3 Months Ended
NET LOSS PER SHARE (Details)	Mar. 31, 2014	Mar. 31, 2013
Stock Options and Warrants [Member]	'	'
Earnings Per Share Basic [Line Items]	'	'
Number of shares excluded from the calculation of diluted loss per share	100,014,000	60,895,000
Convertible Series A and Series B Preferred Stock [Member]	'	'
Earnings Per Share Basic [Line Items]	'	'
Number of shares excluded from the calculation of diluted loss per share	226,211,000	205,496,000
Convertible Notes [Member]	'	'
Earnings Per Share Basic [Line Items]	'	'
Number of shares excluded from the calculation of diluted loss per share	16,234,000	0