Competitive Technologies, established in 1968, provides distribution, patent and technology transfer, sales and licensing services focused on the needs of its customers and matching those requirements with commercially viable product or technology solutions. CTT is a global leader in identifying, developing and commercializing innovative products and technologies in life, electronic, nano, and physical sciences developed by universities, companies and inventors. The companies’ leading marketable products is Calmare, which has successfully treated thousands of patients. It is U.S. FDA-cleared and has CE Mark certification in Europe. The device has been in use for several years in Italy and, for the past year, throughout Europe as well as Bangladesh. Calmare is also now used in key teaching hospitals worldwide. “Our Calmare pain therapy is also in use at the University of Miami Pain Management Center under the direction of Dr. Salahadin Abdi, MD, PhD, Professor and Chief, University of Miami Pain Management Center. The Paul Carbone Cancer Center at the University of Wisconsin, Madison, is using Calmare as well, under the direction of Dr. Toby Campbell, M.D.," said Aris D. Despo, CTT's Executive VP, Business Development. "Both universities are treating patients, evaluating the efficacy of our Calmare pain therapy in treating debilitating pain."Competitive Tech has been presenting the “Scrambler Therapy” that comprises Calmare and independent study results conceived by, among others, The VCU Massey Cancer Center to three separate conferences in just May of 2010, with two more prestigious upcoming presentations in the pipeline including the Calmare Pain Therapy Medical Conference in Boston on May 17, 2010, and the American Society of Clinical Oncologists Annual Meeting, June 4-8, 2010. At the latter meeting, Thomas J. Smith, M.D., Endowed Chair of Palliative Care Research and Medical Director of the Thomas Palliative Care Unit Virginia Commonwealth University's Massey Cancer Center will present the conclusions of his independent study the effectiveness of Calmare. Each event is expected to draw approximately 30,000 attendees from around the world.
Today, Competitive Technologies will showcase its Calmare(R) Pain Therapy Treatment at a symposium for medical professionals in Boston, Mass., on May 17, 2010. Several noted physicians will describe their successful experiences among patients suffering from chronic pain associated with cancer and various types of neuropathic conditions. Among the notable physicians presenting their evidence-based patient experiments to test the effectiveness of Calmare include Stephen J. D'Amato, MD, FACEP- Medical Director, Calmar Pain Relief and Clinical Assistant Professor of Medicine, Boston University School of Medicine, and Medical Staff, Roger Williams Medical Center. Dr. D’Amato has explained the Scrambler Therapy in simple terms as a “scrambled signal that is interpreted by the brain as “non-pain,” and very importantly, as “self.” Once the scrambled signal arrives, the patient immediately feels pain relief”. He’s also stated that the cost of Calmare “is minimal compared to alternatives and in comparison to the costs already incurred by many patients: A one-hour treatment session is $150 (less than a session at most spas).”
As far as Competitive Technologies business operations and financial data is concerned, in the quarter ending January 31st, 2010 (the most recent filing), The Company reported a cash boost of nearly 70%, from $752K in July of 2009 to $1.08M for the most recent quarter. The Company experienced its first revenues of $152K, resulting in a net loss of ($.15) per share compared to ($.23) per share in the year-ago period. Bottom line cash flows improved by 64%.
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