Competitive Technologies Booking Revenue From Worldwide Shipments of Pain ...
04.11.09
FAIRFIELD, Conn., November 2, 2009 (GLOBE NEWSWIRE) - Competitive Technologies, Inc. (NYSE AMEX: CTT) announced today that it moves forward with its plan to restore profitability. His calmare Therapy Treatment *, pain therapy medical device is the treatment of patients at several places in the world. Revenue for shipments of products were recorded for shipments made during the fiscal quarter ended October 31, 2009.
The first delivery of 10 aircraft was received by Switzerland CTT distributor, Episteme Life Group. This shipment will be followed by four further shipments of 10 aircraft each. United States, Squid Pain Relief, LLC, of North Providence, RI, received two units at its offices in Rhode Island in anticipation of the official opening of its clinical pain therapy, November 16, 2009. Four additional devices were shipped to other organizations in the United States and a device was also sent to Biogen Pharmaceuticals, Ltd., CTT distributor in Bangladesh.
"Revenues are recorded based on shipments rather than orders from these devices and has been booked in the first quarter of fiscal 2010, according to John B. Nano, CTT's Chairman, President and CEO."We expect to see revenues from sales of our calmare Therapy Treatment grow throughout the year.
Source: CNNMoney.com (press release)