Welcome!

News Feed Item

Competitive Technologies CEO Issues Statement

FAIRFIELD, Conn., April 11, 2014 /PRNewswire/ -- Responding to inaccurate information released in the public marketplace, Conrad Mir, President & CEO of Competitive Technologies, Inc., ("CTTC" or "CTI"), the pain mitigation company, issued the following statement:

"On April 8, 2014 (Rome), an unauthorized and misleading press release was issued by Mr. Giuseppe Marineo, an inventor of the Calmare® pain therapy device, and Delta Research and Technologies (collectively the "Group") regarding CTI and its global authority to sell, distribute and manufacture Calmare as an exclusive agent of the Group. This statement is false; and, consequently, the press release has been purged by the overseeing body of wire services.

"This unauthorized press release is one of many such questionable events since the establishment of the Group – a company comprised of non-scientists and Mr. Marineo, and which was created to specifically implement the 2012 Amendment (the "Amendment"). As disclosed in an April 2, 2012 press release, the Amendment stripped CTI of its European, Middle Eastern and North African ("EMENA") territory rights in order to realign the global territories and realize the roughly $3.0 million in revenues of this region.

"As of March 31, 2014, the Amendment had been nullified by the Group's failure to countersign and consummate the document. Therefore, by default, the Sales and Representation Agreement (the "SaRA"), being the only duly ratified document, is the active agreement between CTI and the Group. This document grants rights to CTI as the sole exclusive distributor of Calmare with rights to sell, distribute and manufacture the pain management device.

"In an April 2, 2014 press release, CTI announced its intent to reestablish the global footprint it forewent by entering into a "Good Faith" understanding of the Amendment with the Group. While not a popular course of action with the Group and other self-interested parties, this mission will ensure the future success of CTI. The Company stands firm in driving revenues throughout the globe and giving much attention to the re-cultivation of the EMENA territories.

"The Company has a vested equity stake in all global patents for the Calmare device, and is the rightful holder of its FDA 510K clearance for US sales; European Union Medical Device CE approval as an electronic-analgesic apparatus; and all related trademarks. CTI is committed to successfully attaining FDA approval for Calmare, honoring all terms and conditions of the SaRA that strengthens CTI's global position, and rightfully bestowing Mr. Marineo with fair royalty rights as an inventor of Calmare. As a policy, CTI will formally break away from any amendment(s) and/or understandings that strays from the Company's duty to protect its shareholder's interests. CTI is committed to ensuring the successful introduction and promotion of Calmare and its viability as a pain management treatment alternative."

About the Company

Competitive Technologies Inc., the pain mitigation company, develops and commercializes innovative wound and pain management products and technologies. CTI is the licensed distributor of the non-invasive Calmare® pain therapy medical device.

Unlocking the Potential of Innovation(R).

Forward-Looking Statement

Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance.  Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.

Contacts:


Competitive Technologies, Inc.                                                              

JV Public Relations

Conrad Mir                                                                                        

Janet Vasquez

President and CEO                                                                               

Managing Director

[email protected]                                                                     

[email protected]  

973.798.8882                                                                                        

212.645.5498

Calmare®: www.calmarett.com

Visit us: www.competitivetech.net | Follow us: Facebook.com

Logo - http://photos.prnewswire.com/prnh/20131015/NY97852LOGO

SOURCE Competitive Technologies, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
HyperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let's say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...