UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549

                               FORM 10-Q

(Mark One)

[x]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

          For the quarterly period ended     October 31, 2001

                                  OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

                     Commission file number 1-8696

                    COMPETITIVE TECHNOLOGIES, INC.
        (Exact name of registrant as specified in its charter)


     Delaware                                36-2664428
(State or other jurisdiction of    (I.R.S. Employer Identification No.)
incorporation or organization)


     1960 Bronson Road
     Fairfield, Connecticut                   06430
(Address of principal executive             (Zip Code)
offices)

Registrant's telephone number, including area code: (203) 255-6044

                                   N/A
        Former name, former address and former fiscal year, if
                       changed since last report

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15 (d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90
days.  Yes  X .          No    .

Common Stock outstanding as of December 5, 2001 - 6,139,351 shares

Exhibit Index on sequentially numbered page 16 of 16.


  Page 1 of 16 sequentially numbered pages



              COMPETITIVE TECHNOLOGIES, INC. AND SUBSIDIARIES

                                   INDEX



PART I.  FINANCIAL INFORMATION                               Page No.

Item 1.  Condensed Financial Statements

A.   Financial Statements (Unaudited)

     Consolidated Balance Sheets at
       October 31, 2001 and July 31, 2001                       3

     Consolidated Statements of Operations for the
       three months ended October 31, 2001 and 2000             4

     Consolidated Statement of Changes in
       Shareholders' Interest for the three
       months ended October 31, 2001                            5

     Consolidated Statements of Cash Flows for the
       three months ended October 31, 2001 and 2000             6

     Notes to Consolidated Financial Statements              7-11

Item 2.  Management's Discussion and Analysis of
         Financial Condition and Results of
         Operations                                         12-16

Item 3.  Quantitative and Qualitative Disclosures
         About Market Risk                                     16


PART II.  OTHER INFORMATION

Item 1.   Legal Proceedings                                    16

Item 6.   Exhibits and Reports on Form 8-K                     16

Signatures                                                     16

                      PART I.  FINANCIAL INFORMATION

              COMPETITIVE TECHNOLOGIES, INC. AND SUBSIDIARIES
                        Consolidated Balance Sheets
                    October 31, 2001 and July 31, 2001
                                (Unaudited)

                                               October 31,     July 31,
                                                  2001           2001
ASSETS

Current assets:
  Cash and cash equivalents                   $    479,262   $    224,436
  Short-term investments, at market              5,330,488      4,793,441
  Receivables                                      314,740      2,782,276
  Notes receivable - E.L. Specialists, Inc.        821,000        650,000
  Prepaid expenses and other current assets        136,953         70,044
    Total current assets                         7,082,443      8,520,197

Property and equipment, at cost, net                49,806         66,994
Investments                                      1,125,684      1,025,684
Intangible assets acquired, principally
  licenses and patented technologies, net          993,330      1,027,998

    TOTAL ASSETS                              $  9,251,263   $ 10,640,873

LIABILITIES AND SHAREHOLDERS' INTEREST

Current liabilities:
  Accounts payable, including $3,833 and
    $3,876 payable to related parties in
    October and July, respectively            $  2,028,612   $    585,966
  Accrued liabilities, including $480
    payable to related parties in October        1,293,945      3,087,161
    Total current liabilities                    3,322,557      3,673,127

Commitments and contingencies                           --             --

Shareholders' interest:
  5% preferred stock, $25 par value                 60,675         60,675
  Common stock, $.01 par value                      61,907         61,907
  Capital in excess of par value                26,975,178     26,975,178
  Treasury stock (common), at cost;
    51,434 shares in October and July             (381,253)      (381,253)
  Accumulated deficit                          (20,787,801)   (19,748,761)

    Total shareholders' interest                 5,928,706      6,967,746

      TOTAL LIABILITIES AND SHAREHOLDERS'
        INTEREST                              $  9,251,263   $ 10,640,873

                          See accompanying notes


                PART I.  FINANCIAL INFORMATION (Continued)

              COMPETITIVE TECHNOLOGIES, INC. AND SUBSIDIARIES
                   Consolidated Statements of Operations
           for the three months ended October 31, 2001 and 2000
                                (Unaudited)

                                                  2001           2000

Revenues:
  Retained royalties                          $   384,739    $   462,669
  Other revenues                                   25,000            909
                                                  409,739        463,578
Patent enforcement expenses, net of
  reimbursements                                  631,615         60,085
Other costs of technology management
  services                                        518,343        332,394
General and administration expenses,
  of which $31,773 and $41,947 were
  paid to related parties in 2001
  and 2000, respectively                          343,825        375,944
                                                1,493,783        768,423
Operating loss                                 (1,084,044)      (304,845)

Interest income                                    44,948        123,904
Other income (expense), net                            56         (4,199)

Net loss                                      $(1,039,040)   $  (185,140)

Net loss per share:
  Basic and diluted                           $     (0.17)   $     (0.03)

Weighted average number of common
  shares outstanding:
    Basic and diluted                           6,139,351      6,179,313

                          See accompanying notes


                             PART I.  FINANCIAL INFORMATION (Continued)

                          COMPETITIVE TECHNOLOGIES, INC. AND SUBSIDIARIES
                    Consolidated Statement of Changes in Shareholders' Interest
                            For the three months ended October 31, 2001
                                            (Unaudited)
<TABLE>
<CAPTION>
                                Preferred Stock
                               Shares                 Common Stock      Capital in
                             issued and              Shares              excess of      Treasury Stock          Accumulated
                             outstanding   Amount   issued     Amount    par value    Shares held    Amount       Deficit


                              <c>      <c>       <c>        <c>      <c>             <c>        <c>          <c>
Balance - July 31, 2001          2,427    $60,675   6,190,785  $61,907  $26,975,178     (51,434)   $(381,253)   $(19,748,761)
  Net loss . . . .  . . . .                                                                                       (1,039,040)
Balance - October 31, 2001       2,427    $60,675   6,190,785  $61,907  $26,975,178     (51,434)   $(381,253)   $(20,787,801)
</TABLE>

                             See accompanying notes


                PART I.  FINANCIAL INFORMATION (Continued)

              COMPETITIVE TECHNOLOGIES, INC. AND SUBSIDIARIES
                   Consolidated Statements of Cash Flows
           for the three months ended October 31, 2001 and 2000
                                (Unaudited)

                                                  2001           2000
Cash flow from operating activities:
  Net loss                                    $(1,039,040)   $  (185,140)
    Noncash items included in net loss:
      Depreciation and amortization                52,357         53,591
      Stock compensation                           42,414         34,013
    Net changes in various operating
      accounts:
      Receivables                               2,467,536      2,010,710
      Prepaid expenses and other current
        assets                                    (66,909)        27,619
      Accounts payable and accrued
        liabilities                              (392,984)      (706,651)
Net cash flow from operating activities         1,063,374      1,234,142


Cash flow from investing activities:
  Purchases of property and equipment, net           (501)       (18,762)
  Purchases of other short-term investments      (537,047)    (1,329,319)
  Investments in and advances to cost-
    method affiliates                            (271,000)            --
Net cash flow from investing activities          (808,548)    (1,348,081)

Cash flow from financing activities:
  Purchases of treasury stock                          --       (366,951)
Net cash flow from financing activities                --       (366,951)

Net increase (decrease) in cash and cash
  equivalents                                     254,826       (480,890)
Cash and cash equivalents, beginning
  of period                                       224,436      1,716,375
Cash and cash equivalents, end of period      $   479,262    $ 1,235,485

                          See accompanying notes


              PART I.  FINANCIAL INFORMATION (Continued)

            COMPETITIVE TECHNOLOGIES, INC. AND SUBSIDIARIES

              Notes to Consolidated Financial Statements
                              (Unaudited)

1.   Interim Financial Statements

     Interim financial information presented in the accompanying
financial statements and notes hereto is unaudited.

     The year-end balance sheet data was derived from audited
financial statements but does not include all disclosures
required by generally accepted accounting principles.  Certain
amounts have been reclassified to conform with the presentation
in financial statements for fiscal 2002.

     In the opinion of management, all adjustments which are
necessary to present the financial statements fairly in
conformity with generally accepted accounting principles,
consisting only of normal recurring adjustments, have been made.

     The interim financial statements and notes thereto as well
as the accompanying Management's Discussion and Analysis of
Financial Condition and Results of Operations should be read in
conjunction with the Company's Annual Report on Form 10-K for the
year ended July 31, 2001.

2.   Net Loss Per Share

     The following table sets forth the computations of basic and
diluted net loss per share.

                                                 Quarter
                                             ended October 31,
                                            2001        2000
Net loss applicable to common stock:
    Basic and diluted                  $(1,039,040) $ (185,140)

  Weighted average number of common
    shares outstanding                   6,139,351   6,179,313
  Effect of dilutive securities:
    Stock options                               --          --
    Stock warrants                              --          --
  Weighted average number of common
    shares outstanding and dilutive
    securities                           6,139,351   6,179,313

Net loss per share of
  common stock:
    Basic and diluted                  $     (0.17) $    (0.03)

    At October 31, 2001 and 2000, respectively, options and
warrants to purchase 497,767 and 474,517 shares of common stock
were outstanding but were not included in the computation of
earnings per share because they were anti-dilutive.

3.  Investments and Notes Receivable

NTRU Cryptosystems, Inc.

    In August 2001, CTT acquired additional shares of NTRU
Cryptosystems, Inc. (NTRU) Series B convertible preferred stock
for $100,000 in cash as part of a $26.1 million financing round.
After this round of financing, CTT held approximately 7% of
NTRU's outstanding combined preferred and common equity.

E. L. Specialists, Inc.

    Through a series of bridge financing agreements, the Company
committed to lend $880,000 to E. L. Specialists, Inc. (ELS).  As
of October 31, 2001, the Company had advanced $821,000 and had
reset the date for repayment to November 5, 2001.  Interest
accrues on the advances at 7% per annum on the first $750,000 and
at 10% per annum on the remainder.  However, the Company has
recognized no interest since March 31, 2001.  ELS's intellectual
property fully secures the Company's loan and $470,000 advanced
to ELS by another lender.  CTT's advances are convertible into
ELS's common stock in certain circumstances, including an ELS
financing round in excess of $3,000,000.

    As of December 10, 2001, the company had advanced $831,000 to
ELS and had amended the repayment terms on the amount in excess
of $750,000 ($81,000 advanced or $130,000 committed) to be
payable on demand.

4.  Receivables

    Receivables were:

                                    October 31,         July 31,
                                       2001               2001

     Royalties                     $  256,665         $2,731,228
     Other                             58,075             51,048
                                   $  314,740         $2,782,276

5.   Accrued Liabilities

     Accrued liabilities were:

                                    October 31,         July 31,
                                       2001               2001

     Royalties payable             $  820,276         $1,852,207
     Accrued professional fees        215,790          1,024,927
     Accrued compensation             108,574             70,543
     Deferred revenues                100,000            100,000
     Other                             49,305             39,484
                                   $1,293,945         $3,087,161

6.   Contingencies

Litigation

Fujitsu

     In December 2000, CTT filed a complaint with the United
States International Trade Commission (ITC) on behalf of CTT and
the University of Illinois against Fujitsu Limited of Tokyo,
Japan, (Fujitsu), Fujitsu Hitachi Plasma Display Limited, Japan,
et al. under Section 337 of the Tariff Act of 1930, as amended.
CTT requested that the ITC stop Fujitsu and/or its subsidiaries
from unlawfully importing plasma display panels (PDPs) into the
United States on the basis that the panels infringe U.S. Patent
Numbers 4,866,349 and 5,081,400 held by CTT's client, the
University of Illinois.  The two patents cover energy recovery in
flat plasma display panels.  The ITC has the power to issue
orders directing U.S. customs officials to stop future
importation of Fujitsu PDPs and plasma display products that
infringe the two named patents.  In June 2001, CTT requested
withdrawal of its complaint before the ITC and the ITC complaint
was withdrawn in August 2001.  Coincident with filing its ITC
complaint, CTT and the University of Illinois also filed a
complaint against Fujitsu in the United States District Court for
the Central District of Illinois seeking damages for past
infringements and an injunction against future sales of PDPs that
infringe these patents.  In July 2001, CTT reactivated this
complaint to pursue these additional legal remedies (a permanent
injunction against future sales of PDPs that infringe these
patents, damages for past infringing sales and possibly damages
for willfulness) which are not available at the ITC.  CTT intends
to seek to expedite this case.

     In September 2001, Fujitsu and Fujitsu Hitachi Plasma
Display Limited, Japan, filed suit against CTT and Plasmaco, Inc.
in the United States District Court for the District of Delaware.
This lawsuit alleges, among other things, that CTT
misappropriated confidential information and trade secrets
supplied by Fujitsu.  It also alleges that, with Plasmaco's
assistance, CTT abused the ITC process to obtain information to
which it otherwise would not have been entitled and which it will
use in the action against Fujitsu in the United States District
Court for the Central District of Illinois.  Fujitsu seeks
damages in an unspecified amount and injunctive relief.  The
Company intends to defend vigorously the action instituted by
Fujitsu.

     CTT is unable to estimate the legal expenses or the loss it
may incur in these suits, if any, and has recorded no potential
judgment proceeds in its financial statements to date.

LabCorp

     On May 4, 1999, Metabolite Laboratories, Inc. (MLI) and CTT
(collectively plaintiffs) filed a complaint and jury demand
against Laboratory Corporation of America Holdings d/b/a LabCorp
(LabCorp) in the United States District Court for the District of
Colorado.  The complaint alleges, among other things, that
LabCorp owes plaintiffs royalties for homocysteine assays
performed beginning in the summer of 1998 using methods and
materials falling within the claims of a patent owned by CTT.
CTT licensed the patent non-exclusively to MLI and MLI
sublicensed it to LabCorp.  Plaintiffs claim LabCorp's actions
constitute breach of contract and patent infringement.  The claim
seeks an injunction ordering LabCorp to perform all its
obligations under its agreement, to cure past breaches, to
provide an accounting of wrongfully withheld royalties and to
refrain from infringing the patent.  Plaintiffs also seek
unspecified money and exemplary damages and attorneys' fees,
among other things.  LabCorp has filed an answer and
counterclaims alleging noninfringement, patent invalidity and
patent misuse.  The jury that heard this case in November 2001
confirmed the validity of CTT's patent rights and found that
LabCorp willfully contributed to and induced infringement.  In
December 2001 the Court entered judgment affirming the jury's
verdict.  If the Court's judgment becomes final, CTT will retain
approximately $400,000 of damages awarded plus interest at 2.23%
per annum from the date judgment was entered.  The Court has not
yet ruled on legal costs or punitive damages.  CTT is unable to
estimate the related legal expenses it may incur in this suit if
LabCorp appeals the judgment.  CTT has recorded no revenue for
these withheld royalties or for the jury's award.

MaternaTM

     The University of Colorado Foundation, Inc., the University
of Colorado, the Board of Regents of the University of Colorado,
Robert H. Allen and Paul A. Seligman, plaintiffs, previously
filed a lawsuit against American Cyanamid Company, defendant, in
the United States District Court for the District of Colorado.
This case involved a patent for an improved formulation of
MaternaT, a prenatal vitamin compound sold by defendant.  While
the Company was not and is not a party to this case, the Company
had a contract with the University of Colorado to license
University of Colorado inventions to third parties.  As a result
of this contract, the Company is entitled to share approximately
18% of damages awarded to the University of Colorado, if any,
after deducting the expenses of this suit.  On November 19, 1999,
the United States Court of Appeals for the Federal Circuit
vacated a July 7, 1997 judgment by the District Court in favor of
plaintiffs for approximately $44 million and remanded the case to
the District Court for further proceedings.  On July 7, 2000, the
District Court concluded that Robert H. Allen and Paul A.
Seligman were the sole inventors of the reformulation of MaternaTM
that was the subject of the patent and that defendant is liable
to them and the other plaintiffs on their claims for fraud and
unjust enrichment.  In March 2001, the District Court heard
arguments to determine the nature and amount of damages to be
paid by defendant.  The District Court judge has issued a
preliminary favorable opinion to guide findings of fact and
conclusions of law.  The parties await the judge's decision.  The
Company cannot predict the amount of its share of the judgment,
if any, which may ultimately be awarded.  The Company has
recorded no potential judgment proceeds in its financial
statements to date.  While the Company has incurred certain
expenses in connection with this suit, it does not expect to
incur additional expenses in this suit in the future.  The
Company records such expenses as they are incurred.

Optical Associates, Limited Partnership (OALP)

     In 1989 University Optical Products Co. (UOP), a majority-owned
subsidiary of CTT which had developed a computer-based system to manufacture
specialty contact lenses, intraocular lenses and other precision optical
products, sold substantially all its assets to Unilens Corp. USA
(Unilens).  The proceeds of the sale included an installment
obligation for $5,500,000 payable at a minimum of $250,000 per
year beginning in January 1992.  Due to the uncertainty of the
timing and amount of future cash flows, income on the installment
obligation is recorded net of related expenses as the payments
are received.  Cash received in excess of the fair value assigned
to the original obligation is recorded as other income from
continuing operations.  As cash proceeds are received, CTT
records a 4% commission expense payable to its joint venture
partner, Optical Associates, Limited Partnership (OALP).  Unilens
made no payments in fiscal 2002 and 2001.

     On November 4, 1991, a suit was filed in the Superior Court
of the Judicial District of Fairfield, Connecticut, at Bridgeport
by Bruce Arbeiter, Jeffrey A. Bigelow, Jeffrey W. Leiderman,
Optical Associates, Limited Partnership (OALP) and Optical
Associates Management Corp. (OAMC) purportedly on behalf of all
the limited partners of OALP, as plaintiffs, against Genetic
Technology Management, Inc. (GTM), University Optical Products
Co. (UOP), the registrant, Jay Warren Blaker, L.W. Miles, A.
Sidney Alpert, Frank R. McPike, Jr., Michael Behar, Bruce E.
Langton, Arthur M. Lieberman and Harry Van Benschoten, as
defendants.  The complaint alleges, among other things, that in
January 1989 the defendants, GTM, UOP and the registrant, sold
substantially all of the assets of OALP to Unilens
and disbursed only 4% of the sales price to OALP, all
in violation of certain agreements, representations and legal
obligations; that OALP is entitled to the full proceeds of the
sale to Unilens; and that by vote of limited partners holding in
excess of 80% of the capital interests of OALP, the limited
partners have removed GTM as the general partner of OALP and
replaced GTM with OAMC.  The complaint claims, among other
things, money damages (in an amount not specified in the claim
for relief); treble and punitive damages  (with no amounts
specified); attorneys fees; an accounting; temporary and
permanent injunctive relief; and judgment holding that OAMC was
legally substituted for GTM as the general partner of OALP.
Management of the registrant believes, based upon all the facts
available to management, that the claims asserted in the suit are
without merit, and the registrant has vigorously defended against
plaintiffs' claims.  In November 2000, the Company made a motion
to dismiss this case.  On September 14, 2001, the attorney
referee recommended that the Court grant defendants' motion for
dismissal.  On November 19, 2001 plaintiffs requested oral
argument on the motion for dismissal.  No final order has yet
been entered.  Through October 31, 2001, the Company had received
aggregate cash proceeds of approximately $1,011,000 from the
January 1989 sale of UOP's assets to Unilens.  CTT recognized
other expenses of $4,199 in the first quarter of fiscal 2001 for
legal expenses related to this suit.


              PART I.  FINANCIAL INFORMATION (Continued)

Item 2.  Management's Discussion and Analysis of Financial Condition
and Results of Operations

Results of Operations - Three Months Ended October 31, 2001 (First
Quarter of Fiscal 2002) vs. Three Months Ended October 31, 2000 (First
Quarter of Fiscal 2001)

     Competitive Technologies, Inc.'s (CTT, the Company or we) total
revenues for the first quarter of fiscal 2002 were $409,739, $53,839
(12%) lower than for the first quarter of fiscal 2001.

     For the first quarter of fiscal 2002, retained royalties were
$384,739, $77,930 (17%) lower than for the first quarter of fiscal
2001.  Retained royalties from the expiring Vitamin B12 assay patents
account for nearly all of this decline.

     Licensees of our endoscopic ligator have withheld royalties since
the third quarter of fiscal 2000.  (Our retained royalties from the
endoscopic ligator were approximately $138,000 and $247,000 for the
fiscal years ended July 31, 2000 and 1999, respectively.)  Although we
received a reexamination certificate on our endoscopic ligator in the
fourth quarter of fiscal 2001 and we believe we are entitled to all
withheld and future royalties for its use, we cannot predict when, if
ever, licensees will resume remitting royalties for this technology.
We are actively pursuing collection of these royalties.

     Other changes in retained royalty revenues reflect changes in the
timing of royalties reported by licensees and in licensees' sales of
licensed products.  Historically, the Company's royalty revenues in
its first and third fiscal quarters have been lower than in its second
and fourth fiscal quarters.

     For the fiscal year ended July 31, 2001, our retained royalties
from the gallium arsenide semiconductor inventions, which include
laser diode applications, were approximately $2,190,000 (60% of
retained royalties).  Due to uncertainties in the markets for products
using these inventions, we cannot predict whether our royalties (which
are based on our licensees' sales of licensed products) will continue
at this level or decline.  Most of our royalties from these inventions
are reported semi-annually in the second and fourth quarters.

     Other revenues for the first quarter of fiscal 2002 were $25,000
from services we provided one customer.  We may agree to additional
fee-for-service contracts in the future in certain circumstances.
Many of these contracts are one-time arrangements unique to a
particular client at a particular time.

     Total operating expenses for the first quarter of fiscal 2002
were $1,493,783 (including $631,615 of patent enforcement expenses,
net of reimbursements) compared with $768,423 (including $60,085 of
patent enforcement expenses, net of reimbursements) in the first
quarter of fiscal 2001.  This was $725,360 (94%) higher than in the
first quarter of fiscal 2001.  Patent enforcement expenses, net of
reimbursements, personnel and related expenses and corporate legal
expenses were higher in the first quarter of fiscal 2002.  We employed
12 people (full-time equivalents) in the first quarter of fiscal 2002
compared with 10 in the first quarter of fiscal 2001.

     Patent enforcement expenses, net of reimbursements, were $571,530
higher in the first quarter of fiscal 2002.  These costs exclude
personnel costs related to our enforcement actions, which are included
in other costs of technology management services discussed below.  CTT
is involved in three litigations (Fujitsu, LabCorp and MaternaTM) in
which it and its clients have sued to enforce their patent rights.  We
have included detail of progress and status in these three cases in
Note 6 to Consolidated Financial Statements.  Although the costs to
enforce our patent rights are high, we believe they are necessary to
obtain the potential substantial returns we expect from licensing
these technologies.  We expect to continue incurring substantial
unreimbursed patent litigation expenses in fiscal 2002 as we pursue
enforcement of our patent rights in these three suits.  We are
actively exploring various arrangements to limit or share our cash
requirements for these enforcement actions.

     Other costs of technology management services for the first
quarter of fiscal 2002 were $518,343, $185,949 (56%) higher than for
the first quarter of fiscal 2001.  This reflects increased costs
related to licensing and retained royalties and new client
development, principally personnel and related expenses.

     General and administration expenses for the first quarter of
fiscal 2002 were $32,119 (9%) lower than in the first quarter of
fiscal 2001.  In addition to lower consultants' fees and expenses, the
Company reduced its expenses in the areas of general and
administrative functions.

     Interest income of $44,948 for the first quarter of fiscal 2002
was $78,956 (64%) lower than in the first quarter of fiscal 2001.  Our
average invested balance was approximately 19% lower and our weighted
average interest rate was approximately 3.7% per annum lower than for
the first quarter of fiscal 2001.

     The Company has substantial net operating and capital loss
carryforwards for Federal income tax purposes, of which a significant
portion expires in fiscal 2002.  See Note 8 to Consolidated Financial
Statements in the Company's Annual Report on Form 10-K for the year
ended July 31, 2001.

Financial Condition and Liquidity

     At October 31, 2001, cash and cash equivalents of $479,262 were
$254,826 higher than cash and cash equivalents of $224,436 at July 31,
2001.  Operating activities provided $1,063,374 and investing
activities used $808,548.

     In addition, the Company held $5,330,488 in short-term
investments at October 31, 2001.  These investments are available for
our current operating, investing and financing needs.

     The Company's net loss for the first quarter of fiscal 2002
included non-cash charges of approximately $52,000 for depreciation
and amortization and approximately $42,000 for stock compensation.

     In general, changes in various operating accounts result from
changes in the timing and amounts of cash flows before and after the
end of the period.  The most substantial changes in operating accounts
were the $2,474,563 decrease in royalties receivable, the $1,442,646
increase in accounts payable, the $1,031,931 decrease in royalties
payable and the $809,137 decrease in accrued professional fees.  The
changes in royalties receivable and payable reflect the Company's
normal cycle of royalty collections and payments.  The changes in
accounts payable and accrued professional fees were principally
related to patent enforcement expenses.

     During the three months ended October 31, 2001, the Company
purchased $537,047 of short-term investments.

     In August 2001, CTT acquired additional shares of NTRU Series B
convertible preferred stock for $100,000 in cash as part of a $26.1
million financing round.  After this round of financing, CTT held
approximately 7% of NTRU's outstanding combined preferred and common
equity.

    Through a series of bridge financing agreements, the Company
committed to lend $880,000 to E. L. Specialists, Inc. (ELS).  As of
October 31, 2001, the Company had advanced $821,000 and had reset the
date for repayment to November 5, 2001.  Interest accrues on the
advances at 7% per annum on the first $750,000 and at 10% per annum on
the remainder.  However, the Company has recognized no interest since
March 31, 2001.  ELS's intellectual property fully secures the
Company's loan and $470,000 advanced to ELS by another lender.  CTT's
advances are convertible into ELS's common stock in certain
circumstances, including an ELS financing round in excess of
$3,000,000.  On November 5, 2001, ELS defaulted on payment of the
advances.  As of December 10, 2001, the company had advanced $831,000
to ELS and had amended the repayment terms on the amount in excess of
$750,000 ($81,000 advanced or $130,000 committed) to be payable on
demand.  Management expects both secured lenders to be able to recover
their advances fully either through ELS's repayment of the advances
or, if required, by taking possession of the intellectual property
that secures the loan and through licensing the intellectual property
to recover the amount of the loan.  As of October 31, 2001, CTT
classified the advances as current notes receivable based on their
November 5, 2001 maturity.

     At October 31, 2001, the Company had no outstanding commitments
for capital expenditures other than those discussed above.

     The Company carries liability insurance, directors' and officers'
liability insurance and casualty insurance for owned or leased
tangible assets.  It does not carry key person life insurance.  There
are no legal restrictions on payments of dividends by CTT.

     We continue to pursue additional technology commercialization
opportunities.  If and when such opportunities are consummated, we may
commit capital resources to them.

     The Company is involved in four pending litigation matters.  They
are fully detailed in Note 6 to the accompanying Consolidated
Financial Statements.  As discussed above, we are exploring various
arrangements to limit or share our cash requirements for these
enforcement actions.

     At October 31, 2001, we had net working capital of $3,759,886,
approximately $1,087,000 less than at July 31, 2001.  Currently we do
not have any outstanding debt or maintain a credit facility.

     Based on the Company's current expectations, it anticipates that
currently available funds will be sufficient to finance cash needs for
the foreseeable future for its current operating activities.  However,
costs of additional enforcement actions and expansion of the Company's
business are subject to many factors outside the Company's control or
that it cannot currently anticipate, including without limitation
business opportunities that may arise in the future.  Accordingly,
there can be no assurance that the Company's current expectations
regarding the sufficiency of currently available funds will prove to
be accurate.

Recently Issued Accounting Pronouncements

    In June 2001, the Financial Accounting Standards Board (FASB)
issued Statement No. 141, "Business Combinations."  This statement
establishes financial accounting and reporting for business
combinations and requires that purchase accounting be used for all
business combinations.  The provisions of this statement apply to all
business combinations initiated after June 30, 2001.

    In June 2001, the FASB issued Statement No. 142, "Goodwill and
Other Intangible Assets."  This statement establishes financial
accounting and reporting for acquired goodwill and other intangible
assets acquired individually or with a group of other assets but not
acquired in a business combination.  The Company does not expect
adoption of Statement No. 142 to have a material effect on its
financial condition or results of operations.  The Company will adopt
this Statement on August 1, 2002.

    In August 2001, the FASB issued Statement No. 144, "Accounting for
the Impairment or Disposal of Long-lived Assets."  This statement
establishes a single accounting model for the impairment of long-lived
assets.  The Company does not expect adoption of this standard to have
a material effect on its financial condition or results of operations.
The Company will adopt this statement on August 1, 2002.

Forward-Looking Statements

     Statements about the Company's future expectations, including
development and regulatory plans, and all other statements in this
Quarterly Report on Form 10-Q other than historical facts, are
"forward-looking statements" within the meaning of applicable Federal
Securities Laws and are not guarantees of future performance.  These
statements involve risks and uncertainties related to market
acceptance of and competition for the Company's licensed technologies
and other risks and uncertainties inherent in the Company's business,
including those set forth in Item 1 of the Company's Annual Report on
Form 10-K for the year ended July 31, 2001 under the caption "Risk
Factors," and other factors that may be described in the Company's
filings with the Securities and Exchange Commission, and are subject
to change at any time.  The Company's actual results could differ
materially from these forward-looking statements.  The Company
undertakes no obligation to update publicly any forward-looking
statement.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

Not applicable.


                      PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

     The Company is involved in four pending litigation matters.  They
are fully detailed in Note 6 to the accompanying Consolidated
Financial Statements.

Item 6.  Exhibits and Reports on Form 8-K              Page

A)   Exhibits

     None.

B)   Reports on Form 8-K

     No reports on Form 8-K were filed during the quarter for which
this report is filed.


SIGNATURES

   Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                                    COMPETITIVE TECHNOLOGIES, INC.
                                    (Registrant)

Date:  December 14, 2001         By: s/ Frank R. McPike, Jr.
                                     Frank R. McPike, Jr.
                                     President, Chief Executive
                                     Officer, Chief Financial
                                     Officer and Authorized Signer