Total assets for the nine months ended September 30, 2013 marginally decreased by $63,041 to $4,708,346 as compared with $4,771.387 for the corresponding period in 2012.
Total liabilities for the nine months ended September 30, 2013 increased 18% or $1,626,767 to $10,427,224 as compared with $8,800,457 for the corresponding period in 2012.
"Third quarter 2013 results were a testament to CTI's ability to overcome adversity," said CTI President & CEO Conrad Mir. "There were a host of new sales prospects; but, due to a lengthy sales cycle, most are expected to close in the fourth quarter. Management believes that the re-engineering effort, announced in early October of 2013, may prove promising to our fourth quarter and year-end results."
CTI will host an earnings conference call on Monday, November 25, 2013 at 12:30 PM EST. To participate in the conference call, please dial the following telephone numbers and appropriate call code a few minutes before the start time: U.S.: +1 (267) 507-0240 | Call Code: 530509As participation is limited to ensure a bridge line, please RSVP via email to: firstname.lastname@example.org or FAX: (203) 368-5399 by 9:00 AM EST, Monday, November 25, 2013 with "Earnings Call 2013" in the subject line.
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.
Certain statements contained in this press release are forward-looking statements tha
|SOURCE Competitive Technologies, Inc.|
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