FAIRFIELD, Conn., Nov. 21, 2013 /PRNewswire/ -- Competitive
Technologies, Inc., (OTCQX: CTTC) (CTI), a pain
mitigation biotechnology company, was notified yesterday,
Wednesday, November 20, 2013 at
2:24 EST that it had returned to good
listing compliance with the OTCQX.
On June 3, 2013, CTI was notified
of its non-compliance with the rules and ongoing obligations of a
publicly traded OTCQX company as so delineated in Section 3.1.r.(i)
of the OTCQX Rules of U.S. Companies. On or about September 27, 2013, Management requested a three
month extension to rectify the compliance shortfall due to the fact
that there was a new management team in place as of September 26, 2013, which had initiated a
corporate reengineering initiative that would rectify the
non-compliance issue in short order. OTC Markets verbally agreed to
an extension deadline of December 2,
2013.
"Being back in compliance with the OTC Markets is an enormous
weight lifted off of CTI's shoulders," said CTI President & CEO
Conrad Mir. "The Street has
responded well to the recent changes made in the Company, which has
contributed to this achievement. We believe this re-compliance may
greatly contribute our fourth quarter results."
About the Company
Competitive Technologies Inc., (CTI) is a biotechnology company
developing and commercializing innovative products and
technologies. CTI is the licensed distributor of the non-invasive
Calmare® pain therapy medical device, which incorporates
the biophysical "Scrambler Therapy"® technology
developed to treat neuropathic and cancer-derived pain by Professor
Giuseppe Marineo.
Forward-Looking Statements
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
|
cmir@competitivetech.net
|
jvasquez@jvprny.com
|
973.798.8882
|
212.645.5498
|
Scrambler Therapy®:
www.scramblertherapy.org/english.htm
Calmare®: www.calmarett.com
www.competitivetech.net
SOURCE Competitive Technologies, Inc.