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] [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
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...