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Competitive Tech Reports Third Quarter 2013 Results
Date:11/20/2013

,000TOTAL ASSETS$4,708,346$

4,771,387Liabilities and Shareholders' Interest (Deficit)Current Liabilities:Accounts payable, general$537,129$

1,806,346Liabilities under claims purchase agreement2,093,303-Accounts payable, GEOMC4,182,3804,181,225Accrued expenses and other liabilities635,868773,364Notes payable2,354,1751,310,000Conversion feature derivative liability47,250-Deferred Revenue8,0009,600Warrant liability61,286-Series C convertible preferred stock derivative liability132,833119,922Preferred stock liability375,000375,000Total current liabilities10,427,2248,575,457Long Term Notes Payable-225,000Total Liabilities10,427,2248,800,457Commitments and ContingenciesShareholders' interest (deficit):5% preferred stock, $25 par value, 35,920 shares authorized, 2,427 shares issued and outstanding60,67560,675Series B preferred stock, $0.001 par value, 20,000 shares authorized, no shares issued and outstanding--Series C convertible preferred stock, $1,000 par value, 750 shares authorized, 375 shares issued and
outstanding--Common stock, $.01 par value, 40,000,000 shares authorized, 19,176,789 shares issued and outstanding at
September 30, 2013 and 15,237,304 shares issued and outstanding at December 31, 2012 (see Note 12)191,767152,373Capital in excess of par value45,699,67245,367,796Accumulated deficit(51,670,992)(49,609,914)Total shareholders' interest (deficit)(5,718,878)(4,029,070)TOTAL LIABILITIES AND SHAREHOLDERS' INTEREST (DEFICIT)$4,708,346$

4,771,387 

 COMPETITIVE TECHNOLOGIES, INC. AND SUBSIDIARYCondensed Consolidated Statements of Operations
(Unaudited)Three months endedThree months endedSeptember 30, 2013September 30, 2012RevenueProduct sales$290,042$

310,867Cost of product sales119,939100,134Gross profit from product sales170,103210,733Other RevenueRetained royalties22,3325,955Other income14,49916,634Total other revenue36,83122,589ExpensesSelling expenses22,569125,633Personnel and consulting e
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SOURCE Competitive Technologies, Inc.
Copyright©2012 PR Newswire.
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