Micro Imaging Technology, Inc. (USOTC:MMTC)
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5 Years : From Apr 2012 to Apr 2017
Micro Imaging Technology, Inc. (OTCBB: MMTC) (OTCQB: MMTC) announced that an important segment of the food safety community got its first look at its Rapid Microbial Identification System when it introduced the MIT 1000 at the Annual Meeting of the International Association for Food Protection (IAFP) in Providence, Rhode Island held July 22 through July 25, 2012.
"We could not have been more pleased with the reception that the MIT 1000 received at the conference," stated Jeff Nunez, MIT's Chairman and CEO, "and we expect our time and efforts to be well rewarded judging by the amount of interest and excitement our technology generated from potential users, consultants, professors, Universities, and competitors." Known to be the leading food safety conference worldwide each year, the IAFP is attended by more than 2,500 of the top industry, academic and governmental food safety professionals from around the world.
The MIT 1000 is a stand-alone, rapid laser based bacteria detection and identification technology; a software driven system that can detect pathogenic bacteria and complete an identifying test in less than five (5) minutes for pennies per test. In June 2009, the AOAC Research Institute (AOAC RI) awarded the Company Performance Tested Methods SM (PTM) certification for the rapid identification of Listeria. The AOAC RI provides an independent third party evaluation and expert reviews of methods and will award PTM certification to methods that demonstrate performance levels equivalent or better than other certified bacteria identifying methods. The MIT System underwent hundreds of individual tests, including ruggedness and accuracy, to earn AOAC RI's certification for the identification of Listeria.
"With the number of food-related illnesses and deaths on the rise each year, particularly involving Listeria, Listeria monocytogenes, Salmonella and E. coli, our technology and its rapid diagnostics could mean the difference between life and death," suggested MIT's Chief Scientist, David Haavig, PhD. "I was gratified to find that the goal of the IAFP conference was not to promote one technology over another, but to advance food safety overall. That's what the MIT 1000 will do and that's why it was good for us to be at this conference."
The International Association for Food Protection (IAFP), founded in 1911, is a non-profit association of 3,600 food safety professionals committed to Advancing Food Safety Worldwide® by providing members worldwide with a forum to exchange information on protecting the global food supply. The Association provides its members with an information network on scientific, technical, and practical developments in food safety and sanitation through its two scientific journals, Food Protection Trends and Journal of Food Protection, its educational Annual Meeting, and interaction with other food safety professionals. www.foodprotection.org
About: Micro Imaging Technology, Inc.
MIT is a California-based public company that has developed and patented a Microbial Identification System that revolutionizes the pathogenic bacteria diagnostic process and can annually save thousands of lives and tens of millions of dollars in health care costs. The MIT 1000 identifies bacteria in minutes, not days, and at a significant per test cost savings when compared to any other conventional method. It does not rely on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. The process requires only clean water and a sample of the unknown bacteria. Revenues for all rapid testing methods exceed $5 billion annually -- with food safety accounting for over $3.5 billion, which is expected to surpass $4.7 billion by 2015 according to BCC Research. In addition, the recently passed "New" U.S. Food Safety Bill is expected to further accelerate the current annual growth rate of 6.6 percent.
This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements are made based upon information available to the Company as of the date of this release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to dependence on suppliers; short product life cycles and reductions in unit selling prices; delays in development or shipment of new products; lack of market acceptance of our new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; inability to expand our operations to support increased growth; and declining economic conditions, including a recession. These and other factors and risks associated with our business are discussed from time to time within our filings with the Securities and Exchange Commission, reference MMTC: www.sec.gov.
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