FORM 10-Q, October 14, 2015, recently filed by CALMARE THERAPEUTICS INCORPORATED (OTCQX: CTTC) to SEC once again provides incorrect and misguiding information to the investors and world market of hospital medical devices, and more specifically:
Delta International Services & Logistics holds all the agency’s world rights on the “Scrambler Therapy®” technology granted through the exclusive agreement signed by Prof. Giuseppe Marineo, the sole inventor and sole owner of all intellectual right pertaining to the technology. This technology has been patented in Europe, the US, Asian Countries, Arab countries and other countries. We also clarify that Prof. Marineo is not the founder of “Delta International Services & Logistics”, nor its sole owner or sole beneficiary of all proceeds, but simply beneficiary of the royalties derived from commercial exploitation of his intellectual property similarly to how it previously occurred with CTTC.
Regarding the presumed validity of the Agreement with CTI Professor Marineo said:
“ I have previously clarified, in April 8, 2014 press release, that the Amended, Restated and Extended Service and Representation Agreement dated April 1, 2011 between CTTC, Professor Marineo and Delta Research & Development S.r.l. (the “SRA”), had been terminated as of March 9, 2014. CTTC also confirmed the validity of the Amendment by executing subsequent amendments on August 31, 2012, September 31, 2012 and October 31, 2012. CTTC/CTI has not taken any legal action in order to challenge the validity or enforceability of the Amendment or the letter of termination sent by Professor Marineo and Delta on March 9, 2014, and subsequent cease and desist letter (“Cease and Desist Letter”).
He also added that from the communication exchanged between the parties, CTTC/CTI’s board through its official representatives has always been informed of the negotiation activity underway with Mr. Johnnie Johnson, CEO who signed a series of amendments. The Board has never questioned or raised any reserve on the validity of Johnnie Johnson’s signature before the appointment of Mr. Conrad Mir as new CEO.
Furthermore he states: “there is no validity to Mr. Mir’s statement in CTTC’s April 11, 2014 press release and SEC file that my statements had been “purged by the overseeing body of wire services.” “This press release has been published by many media and relaunched by other international press agencies still visible online ”.
Professor Marineo concludes by saying: “ I confirm that there are no negotiations on additional amendments to the SRA with CTI and have no intention to reestablish any commercial relationship with CTI . “
Furthermore GEOMC has publically acknowledged on a press release (“SEOUL, South Korea, May 14, 2014 /PRNewswire/ -- GEOMC Co., LTD. announced today that it has honored the June 30, 2012 Amendment ("Amendment") between Professor Giuseppe Marineo/Delta Research & Development (correctively "Professor Marineo") and Competitive Technologies, Inc. ("CTTC" or "CTI") which was publicly disclosed in the SEC filing.”) the validity of the amendment, and signed a exclusive production agreement with DIS&L that annuls any other previous agreement with CTTC/CTI. After these agreements the FDA authorized the marketing of the Scrambler Therapy® Technology MC-5A device (FDA 510(k) Clearance: # K142666, only for Delta International Services & Logistics). This medical device has been developed in Italy for the treatment of chronic neuropathic and oncologic pain resistant to opiates and other types of treatment, replacing the previous version, known in the US as the Calmare® device.
About Delta International Service & Logistics
DIS&L is an agency created for the international development of Scrambler Therapy® Technology, and selecting of medical device distributors in all international area. DIS&L through its law firm is the only company authorized to sign international exclusive agreements, provide maintenance and distributor support for method usage training and other logistics needs. For more information visit https://www.st-team.eu .
About Scrambler Therapy® Technology MC-5A (FDA 510(k) Clearance: # K142666
Scrambler Therapy® scientific research and development technology have been developed in Italy by Professor Giuseppe Marineo, who is the sole owner of its intellectual property rights. The official "Scrambler Therapy"® scientific and clinical information website is at https://www.scramblertherapy.org/english.htm .
Scrambler Therapy® Technology MC-5A replacing the previous version, known in the US as the Calmare® device.
SOURCE Delta International Service & Logistics s.r.l.
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