SAN CLEMENTE, CA -- (Marketwire) -- 10/18/11 -- Micro Imaging Technology, Inc. (OTCBB: MMTC) (OTCQB: MMTC) announced today the volume availability in early 2012 of the MIT 1000A (Figure 1). The System, manufactured exclusively for MIT by Hawthorne, CA-based OSI Optoelectronics, Inc., is a stand-alone optically-based microbial identification system that uses proven principles of physics in conjunction with proprietary PC-based software and is totally USB compliant. The thoroughly green system can currently identify over twenty different species of bacteria without the use of chemicals, reagents, dyes or DNA processing. The only additive is clean water and a sample of the unknown bacteria. In addition to bacteria other microbes can be easily added to the System's identifying capabilities, including; protozoa, fungi, yeast and mold. The MIT 1000A can complete an identifying test in less than five (5) minutes and with a material cost of pennies -- adding further credence to MIT's claims of being able to annually save thousands of lives and tens of millions of dollars in health care costs.
As further explained by MIT's Chief Scientist, David Haavig, PhD, 'The MIT 1000A is a natural evolution from our earlier MIT 1000 System, without changing the basic science -- but with specific added capabilities. The USB connectivity enables the instrument to attach directly to the user's PC and allows the software operating system and microbial identifiers to be provided separately by MIT.'
Figure 1 -- MIT 1000A
As previously mentioned, over ninety percent of all infectious food contaminations are caused by E.coli, Salmonella or Listeria -- which annually causes hundreds of deaths and thousands of hospitalizations. Also the recall of millions of pounds of processed meats, dairy, fish and poultry products and numerous crops of lettuce, spinach, peppers, peanuts, melons and tomatoes.
The Company's objective is the continual expansion of MIT's proprietary Microbe Library -- the repository of the identifiers for bacteria and other microbes. The process for entering a microbe identifier is to evaluate the specie in MIT's Laboratory with hundreds of thousands of measurements and statistically prove the uniqueness of the identifier. That identifier is then compared with other datum and then added to the Microbe Library.
About Micro Imaging Technology:
MIT is a California-based public company that has developed and patented a Microbial Identification System that revolutionizes the pathogenic bacteria diagnostic process. The System identifies bacteria in minutes, not days, and at a significant per test cost savings when compared to any other conventional method. 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.
MIT previously completed an extensive evaluation by the AOAC Research Institute (AOAC RI) which included rigorous independent testing and thorough reviews by its expert examiners, including the U.S. Department of Agriculture. This evaluation process resulted in MIT being awarded the prestigious AOAC RI Certificate of Performance Testing (Certificate No. 060901). The AOAC RI Report is available from the Company. www.aoac.org
MIT also demonstrated the ability to detect and identify, within several minutes, the microbes Escherichia coli, Listeria, Salmonella, Staphylococcus aureus, and other pathogenic bacteria. This identification process was verified by North American Science Associates, Inc. ('NAMSA'), an independent and internationally recognized bioscience testing laboratory. The NAMSA Test Report is also available from the Company and, in MIT's opinion, demonstrates the accuracy, speed and cost effectiveness of the System over conventional processes. www.namsa.com
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 U.S. Securities and Exchange Commission, reference MMTC: www.sec.gov.
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