Yes, ma the problem is that CTI declared to the SEC .....
- The company still has a valid contract with the inventor
But the unilateral "reasons" of this thought are denials from public documents, including those previously deposited to the SEC by CTTC
- "..The Company holds the U.S. Food & Drug Administration 510k clearance on its device..."
Sure, but FDA also tell that the old 510 (k) CTI is connected to a the old device, and the new 510(k) is only for DIS&L. In add seems that the old device is out production,
- "...which grants it the exclusive right to sell, market, research and develop the medical device..."
Develop the medical device????..... Ok, but this usually means violate a lot of laws on the intellectual property, and even all the contracts signed prior the amendment "signed but not signed" by Johnnie Johnson.
At this time the Company does not seem to have much money to pay off old debts and possible compensation for damages. However it's hard do not think that if this situation changes, CTI will be overwhelmed by an avalanche of new problems.
