FAIRFIELD, Conn., Feb. 22, 2011 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (OTCQX:CTTC) today announced that it has changed to calendar year financial reporting and has issued the financial report for the transitional period November and December 2010. This transitional report reflects that the Company has (a) negotiated an exit from the 11,000 square foot office space including paying all back rents, (b) moved the headquarters office to a new 2,700 square foot location in Fairfield, CT, (c) brought current all outstanding payables, (d) reviewed for collection or write-off all receivables, (e) raised additional capital, and (f) completed a review and replacement of International distribution contracts. These actions provide the Company a lower cost base for 2011 operations.
