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

ockCommon StockCapital in excessTotal shareholders'SharesoutstandingAmountSharesoutstandingAmountof parvalueAccumulateddeficitinterest (deficit)Balance January 1, 20132,427$

60,67515,237,304$

152,373$

45,367,796$

(49,609,914)$

(4,029,070)Net income (loss)-----(2,061,078)(2,061,078)Common shares issued into escrow (Note 12)--1,000,00010,000(10,000)--Common shares issued to settle accounts payable, general and accrued expenses--1,300,00013,000250,000-263,000Common stock issued to directors--21,2502127,443-7,655Stock option compensation expense----100,615100,615Common Stock issued in accordance with liability purchase agreement--1,618,23516,182(16,182)--Balance September 30, 20132,427$60,67519,176,789$191,767$45,699,672$(51,670,992)$(5,718,878) 

 PART I. FINANCIAL INFORMATION (Continued)COMPETITIVE TECHNOLOGIES, INC. AND SUBSIDIARYCondensed Consolidated Statements of Cash Flows
(Unaudited)Nine months endedNine months

endedSeptember 30, 2013September 30,

2012Cash flows from operating activities:Net income (loss)$(2,061,078)$

(2,333,967) Adjustments to reconcile net income (loss) to net cash used in operating activities:Depreciation8,41010,995Stock option compensation expense100,615138,630Share-based compensation – common stock7,655-Share-based consulting fees – common stock-35,000Loss on disposal of property and equipment-4,817Bad debt expense5,000- Warrant amortization13,775- Noncash finance charges102,710-Unrealized loss on derivative instrument41,13724,317Changes in assets and liabilities:Receivables149,707(124,501)Restricted cash-750,000Prepaid expenses and other current assets118,58840,358Inventory60,000(180,000)Accounts payable, accrued expenses and other liabilities182,745764,091Deferred revenue(1,600)-Net cash used in operating activities(1,272,336)(870,260)Cash flows from investing activities:Purchase of property and equipment-(20,000)D
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SOURCE Competitive Technologies, Inc.
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