|By PR Newswire||
|April 11, 2014 10:46 AM EDT||
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.
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.
Competitive Technologies, Inc.
JV Public Relations
President and CEO
SOURCE Competitive Technologies, Inc.
We are all here because we are sold on the transformative promise of The Cloud. But what good is all of this ephemeral, on-demand infrastructure if your usage doesn't actually improve the agility and speed of your business? How must Operations adapt in order to avoid stifling your Cloud initiative? In his session at DevOps Summit, Damon Edwards, co-founder and managing partner of the DTO Solutions, will highlight the successful organizational, process, and tooling patterns of high-performing c...
Jan. 30, 2015 04:15 PM EST Reads: 2,781
Over the past year, Datical has had amazing success with our flagship product, Datical DB. We’ve seen multiple visionary, sector-leading companies select Datical DB to drive their Application Schema changes. Now that the number has grown rapidly over the past year, we can begin to see patterns in why customers choose Datical DB. One of them turns out to be pretty emblematic of our other customers. So, let's examine the reasons why they chose to adopt Datical DB.
Jan. 30, 2015 04:00 PM EST Reads: 408
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 04:00 PM EST Reads: 2,288
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the ...
Jan. 30, 2015 03:45 PM EST Reads: 3,095
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 03:30 PM EST Reads: 2,755
Agility is top of mind for Cloud/Service providers and Enterprises alike. Policy Driven Data Center provides a policy model for application deployment by decoupling application needs from the underlying infrastructure primitives. In his session at 15th Cloud Expo, David Klebanov, a Technical Solutions Architect with Cisco Systems, discussed how it differentiates from the software-defined top-down control by offering a declarative approach to allow faster and simpler application deployment. Davi...
Jan. 30, 2015 03:30 PM EST Reads: 3,364
Cloud Technology Partners on Wednesday announced it has been recognized by the Modern Infrastructure Impact Awards as one of the Best Amazon Web Services (AWS) Consulting Partners. Selected by the editors of TechTarget's SearchDataCenter.com, and by votes from customers and strategic channel partners, the companies acknowledged by the Modern Infrastructure Impact Awards represent the top providers of cloud consulting services for AWS including application migration, application development, inf...
Jan. 30, 2015 03:00 PM EST Reads: 1,503
“Will Jaya is a direct source for server integration and storage solutions. If you are looking for any specific configurations for a project we can help you configure based on your needs and requirements," explained Netty Goya, CEO of Will Jaya, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 03:00 PM EST Reads: 1,665
CloudBees, Inc., has announced a $23.5 million financing round, led by longtime CloudBees investor Lightspeed Venture Partners. Existing investors Matrix Partners, Verizon Ventures and Blue Cloud Ventures also participated in the round. The latest funding announcement follows earlier rounds of $4 million, $10.5 million and $10.8 million, bringing the total investment in CloudBees to just under $50 million since the company’s inception in 2010. Previous venture investment rounds were led by Ma...
Jan. 30, 2015 03:00 PM EST Reads: 558
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 02:45 PM EST Reads: 2,520
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 02:30 PM EST Reads: 2,667
In this demo at 15th Cloud Expo, John Meza, Product Engineer at Esri, showed how Esri products hook into Hadoop cluster to allow you to do spatial analysis on the spatial data within your cluster, and he demonstrated rendering from a data center with ArcGIS Pro, a new product that has a brand new rendering engine.
Jan. 30, 2015 02:30 PM EST Reads: 1,744
"Blue Box has been around for 10-11 years, and last year we launched Blue Box Cloud. We like the term 'Private Cloud as a Service' because we think that embodies what we are launching as a product - it's a managed hosted private cloud," explained Giles Frith, Vice President of Customer Operations at Blue Box, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 02:30 PM EST Reads: 2,707
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your onlin...
Jan. 30, 2015 02:15 PM EST Reads: 3,217