Fairfield, CT – May 5, 2016 – Calmare Therapeutics Incorporated, (OTC: CTTC) (CTI), the Calmare® chronic pain and wound care company, has received final signatures on the supply order contract (#V797P-4300B) (the “Contract”). CTI may now receive and fulfill medical product orders, as per the terms and conditions of the Contract.
On February 18, 2016, CTI announced the awarding of a $15 million general supply order contract. Standard operating procedure for such government contracts, involves several steps prior to receipt of initial product orders. Management anticipates funding to begin within the month of June 2016.
"We are one step closer to redefining CTI's preferred government vendor footprint," said Calmare Therapeutics President and CEO Conrad Mir. "This final step before receiving orders and funds is also the first step into our new future. Managements' intent is to broaden its current revenue stream stemming from Calmare® Pain Therapy Device sales with a complimentary, yet independent, income element. This recently received Blanket Purchase Agreement will help us make our mark."
About Calmare Pain Mitigation Therapy™
Calmare Pain Mitigation Therapy™ has successfully improved the quality of life of chronic neuropathic pain patients across the globe without need of invasive treatments or prescription drugs. Calmare PMT offers comprehensive prolonged pain mitigation for 3 to 4 months. And, in those patients that are true responders patients may have full pain elimination that may last up to a year or more.
About the Company
Calmare Therapeutics Incorporated, the Calmare Pain Mitigation Therapy™ company, researches, develops and commercializes chronic, neuropathic pain and wound affliction devices. Our flagship medical device – the Calmare® Pain Therapy Device (the "Calmare Device") – is the world's only non-invasive and non-addictive modality that can successfully treat chronic, neuropathic pain. The Company holds a U.S. Food & Drug Administration 510k clearance designation on its flagship device, which grants it the exclusive right to sell, market, research and develop the medical device in the United. Calmare Devices are commercially sold to medical practices throughout the world. They are also found in U.S. military hospitals, clinics and on installations via CTI’s General Services Administration (GSA) military contract (V797P-4300B).
Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company’s current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.