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Larry what do u think, i reco'ed this stock @ .07 and it's not done. JMHO
Lets say i'm in the money. Do you own some?
Hey Larry how much did he/she cost you on this one???? Wow .25 today.
Thanks for the input Risicare.
Not a premium package user, therefore the public post.
Regards!
Hello MasonTrend,
are you still following MDLH?
Any info you can share?
Tx
Ask is .019$, ready to fly.
Medical Intl Tech (OTC) (MDLH)
$ 0.145 ?0.005 (3.57%)
Volume: 28,250
Bid (USD) Ask (USD) Last Traded Open Prev Close
0.14 0.19 12:17:38 PM EST 0.14 0.14
Is anyone following this stock?
"Volume" as pick up
Type Time (NY) Description
Strong volume Dec 15th, Currently at 2 x average daily volume.
Strong volume Dec 15th, Currently at 1 x average daily volume.
Strong volume Dec 11th, Currently at 1 x average daily volume.
Strong volume Dec 9th, Currently at 13 x average daily volume.
Strong volume Dec 9th, Currently at 12 x average daily volume.
NEWS OUT !!!!!
MIT granted an 8,000 square foot operation facility in Taizhou city for a period of 2 and half years
DENVER, CO, Jul 23, 2009 (Canada NewsWire via COMTEX) -- Medical International Technology Inc. (MDLH.PK) (http://www.mitcanada.ca http://www.mitinvest.ca), "MIT" is pleased to announce that it has been granted a completely new, 8,000 square foot operation facility, as per "MIT China" requirements, from the "China Medical City" in Taizhou city for a period of 2 and half years.
The operation facility will harbor all the sub-assembly, final assembly and quality control of Agro-Jet and Med-Jet products to be sold to the Chinese market.
MIT China assembly operation is planned to start in September 2009.
Japanese patent
MIT is pleased to announce that it has obtained its first Japanese Patent from the Japanese Patent and Trademark Office for its Needle-Free Jet-Injector. Other similar international patents are pending. This first Japanese patent is another important achievement and recognition from a leading technological country like Japan. MIT will now expand even more into the world market. This technology offers a front-line means of prevention against pandemics, contributes to eliminate the possibility of both pre-injection contamination and post-injection cross-infection from needles/syringes, increases institutional sanitation, and protects human health.
Marketing and sales
MIT is actively promoting its MED-JET for human use for mass-inoculation. With the continuing outbreak of the "swine-flu" H1-N1 and the increased fear and awareness of the pandemic that could affect millions of people, we believe that Canada and the world market must use MIT's unique needle-free technology to deliver safely and effectively the vaccine to the world population.
Medical International Technology Inc. is pleased to continue providing a safe and effective means to help prevent the spread of deadly diseases to both humans and animals through the use of the Med-Jet(R) and Agro-Jet(R) needle-free injection system.
<<
Karim Menassa, President
On Behalf of the Board of Directors Tel: 514-339-9355
>>
About Medical International Technology, Inc. MIT CANADA, with offices in Montreal, is a subsidiary of Denver, Colorado-based Medical International Technology, Inc. (MIT USA), which specializes in the development, production, marketing
Quietly gaining ground. Don't be late their getting in the gate.)
Started trading at .15. Won't be long, someone picking away in bits and pieces...
MDLH .10-.15 25,000 shares at .10. Might not be long. JMHO
No offered out at .15. tick tock tick tock
MDLH .08 - .10 something going to happen.
NEWS OUT MDLH receives new canadian patent.
Looks like those .08's are gone.)
Nite jockeying around here, they want shares. Just a matter of time.JMHO
Doesn't look these .08's are going to last long. JMHO
Things starting to line up here. Don't miss a good BUYING oportunity. This is a winner.JMHO
Interesting PERT put a bid in @ .075 HMMMMMMMM PS don't wait to long it might be too late.
Don't think these cheap prices will last to much longer. JMHO
HMMMM my spidey senses something about to happen here. ))) JMHO
MDLH (Sat 9:04am) Income Statement http://finance.yahoo.com/q/is?s=mdlh.pk
MEDICAL INTL TECH (MDLH.PK) Competitor Bioject Medical Technologies Inc. (BJCT) Overview
Bioject Medical Technologies Inc. (OTCBB: BJCT) is an emerging drug delivery company developing the world's leading technology for needle-free injection of liquid medications.
Bioject's technology works by forcing liquid medication at high speed through a tiny orifice held against the skin. This creates an ultra-fine stream of fluid that penetrates the skin, delivering medication in a fraction of a second. Bioject's systems are designed to deliver injected medications comfortably, accurately, and quickly - without the use of a needle.
http://www.bioject.com/
Link to all there News http://www.mitcanada.ca/news/news.html ...eom
Here is alink to there filings http://www.pinksheets.com/pink/quote/quote.jsp?symbol=mdlh ...eom
Don't understand why this company is under radar for? Some people most have there on this one...eom
The AGRO-JET® is a semi-automatic, high performance, needle free jet injector specifically designed for the livestock, poultry and small & companion animal industries. The AGRO-JET® can deliver medications of from 0.1 to 5 cm3 at speeds of 600 to 3,000 injections an hour - a much higher amount than other existing needle-free injectors. The system's fine adjustability allows extremely precise dosage delivery, while the high absorption rate can result in a medication savings of up to 15 percent.
The difference between MIT's AGRO-JET® needle free jet injection system from other systems is its ability to utilize low pressure delivery methods without compromising accuracy, convenience and ease of use - while ensuring patient comfort, environmental safety and user affordability.
Less pain and stress
Reduces tissue damage
Provides high absorption rate
No biological waste
Highly cost effective
Significant time savings
No cross contamination
Allows intradermal, subcutaneous or intra-muscular injections
The AGRO-JET® offers a range of features:
Automatic, semi-automatic or manual operation
Powered by CO2 (gas pressure) or compressed air, most ideal for situations calling for mass or multiple injections in animals.
The CO2 canister is conveniently carried on the back in a specially designed harness bag, freeing the hands and allowing for free movements and can be carried everywhere around your pigpen or farm.
AVAILABLE IN ELEVEN DIFFERENT MODELS WITH FIXED OR ADJUSTABLE DOSES
TESTED FOR EFFICACY BY THE STATE UNIVERSITY OF NORTH CAROLINA
SCHERING PLOUGH ANIMAL HEALTH
OTHER STUDIES ARE ONGOING IN VARIOUS COUNTRIES
A update should be out about the last PR....
Medical International Technology Inc. "MIT" announces that it has reached an initial joint venture agreement with one of the lar
MEDICAL INTERNATIONAL TECHNOLOGY INC. ------------------------------------- (MDLH. PK) http://www.mitcanada.ca http://www.mitinvest.ca
DENVER, CO, June 4 /PRNewswire-FirstCall/ -- Medical International Technology Inc. (MDLH. PK) (http://www.mitcanada.ca/ http://www.mitinvest.ca/), is pleased to announce that after many months of negotiations with its Chinese counterpart, it has negotiated and reached a joint venture agreement with one of the largest Chinese medical corporations. An initial one-million dollar joint investment will permit the formation of an assembly line of MIT's MED-JET(R) and AGRO-JET(R) product lines. Thereafter, a further 10 million dollars will be invested within the next three to five years for full manufacturing to satisfy the Chinese market.
This venture will help MIT mass-produce all of its jet-injector models for Human and Animal applications. The initial target will be the Chinese market, which will lead to opportunities in many other countries. All documentation with regards to achieving this agreement has started and MIT estimates that it will take two to three months to complete.
Medical International Technology Inc. is pleased to continue providing a safe and effective means to help prevent the spread of deadly diseases to both humans and animals through the use of the MED-JET(R) and AGRO-JET(R) needle-free injection systems.
Karim Menassa, President On Behalf of the Board of Directors
About Medical International Technology, Inc. MIT CANADA, with offices in Montreal, is a subsidiary of Denver, Colorado-based Medical International Technology, Inc. (MIT USA), which specializes in the development, production, marketing and sale of needle-free injectors both for humans and animals, for individual and mass vaccinations.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing a technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Medical International Technology Inc. takes no obligation to update or correct forward-looking statements.
DATASOURCE: MEDICAL INTERNATIONAL TECHNOLOGIES INC.
CONTACT: Karim Menassa, President, (514) 339-9355,
Frequently asked Questions:
Operation of the AGRO-JET® System
Q. What gas is used to power the AGRO-JET® and why?
A. Carbon Dioxide (CO2) powers the AGRO-JET®. CO2 is a non-flammable liquid gas that can be safely stored at high pressure and is readily available in a variety of cylinder sizes. The cylinder supplied with the unit will power the AGRO-JET® through several hundred injections.
Q. Does the CO2 go into the animal?
No, only the medication passes through the skin; the CO2 simply powers the internal mechanism of the AGRO-JET®. When the AGRO-JET® has completed an injection, the exhausted CO2 is released at the base of the handle away from the operator and animal.
Q. Where do I refill the CO2 cylinder?
Carbon dioxide is one of the most readily available and inexpensive of all compressed gases. Refills are available from local suppliers of fire extinguishing equipment, welding equipment and even paint-ball supply stores. Familiar company names such as Praxair, and Liquid Gas are ready sources of both CO2 and large (50 lb) refill tanks.
Q. How many injections can be accomplished with one CO2 tank?
This of course, depends on dosage, the viscosity of the vaccine and the size of the tank. The CO2 container included with the most popular model AGRO-JET® (MIT-III) will provide approximately 500 injections at a 2 cm3 dosage for most liquid medications - less for very viscous fluids and more for those that are less than 2 cm3 dosage.
Q. How much does the CO2 tank weigh?
Your AGRO-JET® will come with either a 5 lb or 2.5 lb CO2 cylinder; the weight referring to the amount of CO2 that can be compressed into the cylinder. The larger cylinder weighs approximately 20 lbs at full capacity; the lesser about 10 lbs. Both cylinders come complete with their own back-pack style vest allowing for a very comfortable carry; so much so that it's easy to forget it's even there!
Q. How fast can the injector work?
The AGRO-JET® is capable of up to 3000 injections per hour. A typical 2 cm3 injection is completed within 1 second. When the trigger is released, the injector reloads and is ready for the next injection in less than a second.
Q. How hard is it to clean the injector?
The AGRO-JET® cleans up in a jiffy without need for any disassembly. Simply replace the medication in the 60 cm3 syringe with de-mineralized water and flush by pressing on the syringe plunger or cycling the AGRO-JET® through 5 to 10 shots. You're done!
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Application of Medication
Q. How does the vaccine or medication get into the animal if there is no needle to pierce the skin?
The vaccine or medication is forced under pressure through a tiny, sapphire crystal orifice just .008" or .010" in diameter (both orifices are provided with the unit). The pressurized medication exits in a thin jet with sufficient force to enter the skin. By adjusting the pressure, injections are placed at a pre- selected depth including intradermal, subcutaneous and intramuscular.
Q. How do you know if the medication is being injected to the right depth?
Your AGRO-JET® will include a chart with recommended pressures for your specific application. Correct placement is easily verified by touch; subcutaneous injections are smooth and rounded whereas intramuscular injections are pointed and of reduced diameter.
Q. How is the injector supplied with vaccine?
The AGRO-JET® unit includes a pair of 60 cm3 syringes that draw medication in the conventional manner from standard containers. The syringe is then attached to a flexible, transparent tube that draws fluid to the jet orifice with the loaded syringe clipped onto a convenient cradle atop the injector. Bubbles are cleared by applying pressure to the syringe until a steady stream is achieved, just as one would with a conventional syringe. The AGRO-JET® includes the clip-on cradle for the 60 cm3 syringe and another for 100 ml bottles. Optional containers are designed to clip onto a vest and are available in 500 cm3 and 1000cc sizes.
Q. What is the highest dose that can be injected and is it variable?
The AGRO-JET® can deliver up to a 5 cm3 injection with larger doses delivered by repeat injection to surrounding areas. The highest dosage model is fully adjustable from 0.1 cm3 to 5.0 cm3.
Q. Does the injector have to be in contact with the animal?
Yes, the AGRO-JET® must be in contact with the animal for the length of the injection (about 1 second). The injector should also be held at a right angle to the skin.
Q. How do you know if an injection was successful?
The point of entry can be inspected by touch (please see reply to Question # 4). It will, however, be very evident if an injection was not successful as you will see the bulk of the intended injection running down the surface of the skin. Once you perform several injections, you will develop a sense for the sound and feel of a successful injection.
Q. Is the injector limited to specific medications and supplements?
The AGRO-JET® is designed for mass-vaccination with all liquid medications currently used in conventional hypodermics.
Q. Can the AGRO-JET® be used on humans?
The AGRO-JET®'s human counterpart is called the "MED-JET®" and is approved by Health Canada for use on humans. Indeed, the MED-JET® is used in Quebec each year to give the "Flu shot".
Q. Do the animals feel anything?
The injections are virtually painless because there is no needle piercing the skin. The animal, however, will feel the fluid entering during the injection. Any visible reaction by the animal is more commonly a startle response to the sound of the jet. Rarely does the animal display the characteristic flinch experienced with conventional needle injections.
Q. Conventional needle immunology can cause abscesses and cysts. How does the AGRO-JET® compare?
Cysts and abscesses are caused by tissue damage inflicted by the needle at point of entry. The AGRO-JET® eliminates the occurrence of abscesses and cysts with little or no trauma to tissue. Its patented process delivers any vaccine or medication in a fine jet at low-pressure thus providing safe and painless entry with little or no trauma to the tissue at point of entry.
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Mechanical Features
Q. What is included with each injector?
The AGRO-JET® comes complete with the CO2 cylinder and regulator, a vest to carry the CO2 cylinder, the injector, 2 orifices (.008 and .010), 4 lengths of transparent tubing, 2 skin stretchers (one oval, one round), two 60cc syringes, one clip-on syringe holder, one clip-on bottle holder (for 100 ml bottles), cleaning materials, owner's mannual and recommended dosage chart, an instructional video CD featuring footage of the unit at work and high-impact plastic carrying case.
Q. How durable is the injector?
The AGRO-JET®'s internal components (including the barrel and orifice) are stainless steel, precision engineered and machined to exacting standards. The exterior is clad in high-impact plastic for ease in cleaning and rugged durability. O-rings are of standard dimension and fit for ease of replacement during routine maintenance. The AGRO-JET® is designed and built to provide many years of trouble-free operation.
Q. Does the AGRO-JET® orifice ever plug and if so, how do I unplug it?
Flushing the unit with de-mineralized water after each session will minimize or eliminate any risk of plugging. If an orifice ever becomes plugged, the operator can usually remove the blockage within just a few minutes. Relieve any pressure by turning off the CO2 supply and holding down the trigger for 5 seconds to release the gas. Remove the skin stretcher and orifice from the barrel (retainer nut is hand-tight - no tools are required) and inspect closely.
The orange, rubber plunger at the end of orifice is freely removable; remove and set it aside. Inspect the orifice opening by aiming it at any light source (a clear orifice will allow a tiny amount of light to pass through). A plugged orifice can be cleared with the fine wire provided with the unit by pushing the obstruction back through the orifice.
After clearing the blockage, rinse the orifice with clean, de-mineralized water, replace the orange plunger and return the orifice to its place in the AGRO-JET®. Hand-tighten the retainer nut and flush the system with de-mineralized water from the 60 cm3 syringe by applying pressure to the syringes' plunger. A thin but steady stream of water will soon rise from the orifice.
Re-attach the skin stretcher and replace the water in the 60 cm3 syringe with medication; recharge the system with CO2 and continue with injections. If the blockage recurs, a more thorough cleaning will be required. Remove the orifice and boil it in de-mineralized water for about 20 minutes. Repeat the cleaning procedure and re-install.
Q. Where is the AGRO-JET® made?
The AGRO-JET® was invented in Canada by MIT (Medical International Technologies (MIT Canada) Inc.), based in Montreal, Quebec. The delivery system is a patented design held by MIT and the only system in the world that delivers low-pressure injections at adjustable levels utilizing readily available sources of vaccine and propellant. The AGRO-JET® continues to be manufactured in Canada by MIT and is marketed throughout the world.
Q. Are parts and service readily available?
For our Canadian customers and customers in Montana, USA, parts and service are provided by our exclusive Canadian Distributor, "WLT DISTRIBUTORS INC" a company based in Winnipeg, Canada. As for our international customers, parts and service can be obtained by contacting their local distributor or by calling our Customers Service in Montreal at 514-339-9355.
Q. How much does the AGRO-JET® weigh?
The AGRO-JET® (MIT-III) weighs about 2.2 lbs and is ergonomically designed for comfort and ease of operation.
Q. How accurate is the dosage metering?
The dosage is accurate to plus or minus 1% at 2 cm3.
Q. Is there any risk of cross-contamination between animals?
Studies have shown that there is no risk of cross-contamination with the AGRO-JET®. Reports from existing studies are available on this web-site. Simply click on the "Research" button above.
Q. Does the AGRO-JET® work on all types of livestock?
Yes, there is an AGRO-JET® for use with all livestock, small & companion animal and poultry, from the day old chick to the seasoned steer. Three models are available for smaller animals (mainly poultry and pets) and others for larger animals including pigs of all sizes, cattle, horses, sheep, etc.
Q. Is the AGRO-JET® difficult to use?
To the contrary, it is simplicity itself. Operators become fully familiar and comfortable with the AGRO-JET® within the first hour or two of use.
Q. How much does the AGRO-JET® cost?
The price is of course, greater than that of a conventional hypodermic syringe however; the actual cost is substantially less when compared to conventional disposable syringes in any large barn or veterinary practice.
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Miscellaneous
Q. Will the AGRO-JET® shoot through plywood and if so, to what thickness?
NO THE AGRO-JET® WILL NOT SHOOT THROUGH PLYWOOD OF ANY THICKNESS.
Q. What are some of the advantages of using the AGRO-JET® over conventional, hypodermic needles?
The AGRO-JET® is safe, quick and extremely accurate. Virtually painless, animals will no longer suffer from needle-stick trauma, cysts or abscesses. Concerns regarding cross-contamination are eliminated as are any risks associated with broken needles and needle fragment contamination of carcasses. Needle-stick injuries to operators and handlers during and after injection are a thing of the past.
Q. Why doesn't everybody buy one of these AGRO-JET's®?
The AGRO-JET® is a state of the art, technological breakthrough that is poised to revolutionize mass-immunization and animal treatment programs. Many veterinarians and farm operators are not yet aware of its existence. That is about to change!
VIDO Research Demonstrates Effectiveness of Needle Free Immunization
Dr. Phil Willson-Vaccine and Infectious Disease Organization
Farmscape for October 8, 2003 (Episode 1359)
A just completed pilot study shows needle free vaccination of piglets to be as effective as vaccination using needles and with fewer complications. The study was conducted by the Vaccine and Infectious Disease Organization at the University of Saskatchewan. Vaccine delivery using the Agro-jet, a device which uses a medium pressure blast of carbon dioxide gas to administer vaccine, was compared to delivery using a standard 20 gauge one inch hypodermic needle.
Program Manager for Vaccine Development Dr. Phil Willson says two groups of piglets were vaccinated at six and nine weeks of age.
Clip-Dr. Phil Willson-Vaccine and Infectious Disease Organization. We had eight pigs that we immunized with each of these techniques, either with a traditional needle or with the needle free Agro-jet, and these were given a booster vaccination three weeks after the primary just as the vaccine label indicates is the appropriate way to use it. We then challenged them by exposure to virulent Actinobacillus bacteria. What we compared was whether or not these pigs had an equivalent amount of immunity as measured by their serum as well as whether they were protected from a disease exposure. It turns out they were quite equivalent in terms of their response. The blood response was quite similar. Piglets that were vaccinated using the needle free technique, using the Agro-jet, turned out to have slightly less disease after challenge.
Dr. Willson says, so far, scientists have learned you can get good effective immunity using this needle free approach. However, he says, while the needle free technique produced equivalent immunity, it became obvious that not as much vaccine went into the pig so future research will investigate the possibility of achieving effective immunity with smaller doses. For Farmscape.Ca, I'm Bruce Cochrane.
*Farmscape is a presentation of Sask Pork and Manitoba Pork Council
Needle free immunization by Dr Phil Wilson, VIDO, Saskatchewan, Canada.
Form 10QSB for MEDICAL INTERNATIONAL TECHNOLOGY INC
Thursday, August 14th 2008
Quarterly Report
Note 9 - Management Plan of Operations
Medical International Technology, Inc. ("MIT") is engaged in the business of research, development, marketing and sales of needle-free jet injector technology and products for humans and animals, for single and mass injections. We continue to market our product in all available markets, seek regulatory approvals to expand those market opportunities and improve our products for application to new markets.
Medical International Technology, Inc. has recently completed several rounds of financing resulting in net proceeds to the company of approximately $1,287,520 and continues efforts to secure additional funding to support and expand operations. Funds from sales of our common stock are being used to fund continued operations, develop and seek regulatory approvals for our products and market those products worldwide. Medical International Technology, Inc. will continue to seek additional funding to expand operations and develop sales revenue to a volume sufficient to sustain operations.
The continuation of the Company is dependent upon the continuing financial support of creditors and stockholders and upon obtaining the capital requirements for the continuing operations of the Company. Management believes actions planned and presently being taken provides the opportunity for the Company to continue as a going concern. However, there can be no assurance that management's plans as described above will be successfully implemented or that the Company will continue as a going concern.
--------------------------------------------------------------------------------
Medical International Technology, Inc. Quarterly Financial Report
Item 2. Management's Discussion and Analysis of Financial Condition and Plan of Operations
This Quarterly Report on Form 10-Q contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this Quarterly Report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Quarterly Report on Form 10-Q, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
Application of Critical Accounting Policies
We have identified the policies below as critical to our business operations and the understanding of our results of operations. The impact and any associated risks related to these policies on our business operations is discussed throughout Management's Discussion and Analysis of Financial Condition and Results of Operations when such policies affect our reported and expected financial results.
In the ordinary course of business, we have made a number of estimates and assumptions relating to the reporting of results of operations and financial condition in the preparation of our financial statements in conformity with accounting principles generally accepted in the United States. We base our estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The results form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ significantly from those estimates under different assumptions and conditions. We believe that the following discussion addresses our most critical accounting policies, which are those that are most important to the portrayal of our financial condition and results of operations and require our most difficult, subjective, and complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain.
Revenue Recognition
The Company's policy is to prepare its financial statements on the accrual basis of accounting in accordance with generally accepted accounting principles. The Company recognizes revenue when the related product is shipped to the respective customer provided that: title and risk of loss have passed to the customer; persuasive evidence of an arrangement exists; the sales price is fixed or determinable; and collectability is deemed probable.
Research and Development
Research and development expenditures are charged to operations as incurred.
--------------------------------------------------------------------------------
Medical International Technology, Inc. Quarterly Financial Report
Financial Summary
Results of Operations for the Nine-Months ended June 30, 2008 and 2007
For the nine-month period ended June 30, 2008, the Company experienced a net loss of $701,034. Gross profit for the period totaled $169,074 on sales of $306,060. Loss from operations was $696,361, comprised primarily of research and development expenses and selling, general and administrative expenses aggregating $763,372.
For the nine-month period ended June 30, 2007, the Company experienced a net loss of $598,996. Gross profit for the period totaled $92,479 on sales of $150,630. Loss from operations was $542,184, comprised primarily of research and development expenses and selling, general and administrative expenses aggregating $508,407.
For the three-months ended June 30, 2008, the Company experienced an increase in sales compared to sales for the same period last year. Sales for the three-month period ending June 30, 2008 were $140,553 compared to sales of $43,020 for the same period last year. Gross loss for the period ending June 30, 2008 represented 73 % of sales, where gross profits for the same period last year represented 87% of sales.
Liquidity and Capital Resources
For the nine-month period ending June 30, 2008, the Company's cash position increased $11,507. Net cash provided by operating activities was $617,133, offset by cash used in financing activities of $326,052 and the effect of exchange rates on cash of $276,151.
For the nine-months period ended June 30, 2007 the Company's cash position decreased by $1,793. Net cash used in operating activities was $38,115 offset by cash provided by financing activities of $165,112 and the effect of exchange rates on cash of $0.
Management Plan of Operations
Medical International Technology, Inc. ("MIT") is engaged in the business of research, development, marketing and sales of needle-free jet injector technology and products for humans and animals, for single and mass injections.
We continue to market our product in all available markets, seek regulatory approvals to expand those market opportunities and improve our products for application to new markets.
Medical International Technology, Inc. has recently completed several rounds of financing resulting in net proceeds to the company of approximately $1,287,520 and continues efforts to secure additional funding to support and expand operations. Funds from these sales of our common stock are being used to fund continued operations, develop and seek regulatory approvals for our products and market those products worldwide.
Medical International Technology, Inc. will continue to seek additional funding to expand operations and develop sales revenue to a volume sufficient to sustain operations.
--------------------------------------------------------------------------------
Medical International Technology, Inc. Quarterly Financial Report
Product Development
Medical International Technologies has filed for FDA approval for its needle-free injector - the MED-JET, designed specifically for human mass inoculations. The MED-JET is capable of delivering many types of medications such as vaccines, insulin and other types of injectables. Its low-pressure technology offers an advantage to alternative high pressure systems that can cause blowbacks and expose medical workers and patients alike to microscopic traces of blood.
According to the International Sharps Injury Prevention Society (http://www.isips.org), it has been estimated that one out of every seven workers is accidentally stuck by a contaminated sharp point each and every year. The Center for Disease Control (CDC: http://www.cdc.gov/niosh/2000-108.html#5) estimates that there are 600,000 to 800,000 needle stick injuries per year in the U.S. alone, and many are not reported. More than 20 types of infectious agents have been transmitted through needlesticks, including hepatitis B and C, tuberculosis, syphilis, malaria, herpes, diphtheria, gonorrhea, typhus and Rocky Mountain spotted fever. The MED-JET will eliminate this risk to our health care professionals and create a safer workplace. Other advantages include its light weight (0.5 kg) and an excellent medication absorption rate. Additionally, the system has the ability to increase or decrease the volume and pressure of injection. This technology is unique to MIT's MED-JET MBX Injector. The system is designed to inject up to 600 individuals an hour.
The approval process can be expensive and may take extended period of time. There can be no assurance that this system will receive approval from the FDA or if approved gain broad acceptance by the medical community or individual patients.
On December 15, 2005, Medical International Technologies, Inc announced that it has received full certification granted under the International Organization for Standardization, as well as the Canadian Medical Device Conformity Assessment System, for devices to be licensed by HEALTH CANADA. These certifications allow MIT to market the Med-Jet Needle-Free Injector for human use in all countries other than the U.S., at this point. The Med-Jet injector has been submitted for FDA approval which, if accepted, will allow MIT to sell the Med-Jet in the United States, making it a truly worldwide system.
MIT's Needle-Free Injection System, designed specifically to allow fast, accurate and safe injections, is rapidly moving toward establishing itself as a valuable instrument in the fight against disease in both humans and animals. Spurred on by growing fears of a world wide epidemic that could match or even exceed the deadly flu pandemic of 1918, which killed millions of people, the MIT team is focusing its efforts to make its Needle-Free Injection System available to the world.
Now that MIT is able to sell its Med-Jet in all countries, other than the U.S., it is working to complete two FDA filings. The first of these will be for use of the Med-Jet for injecting anesthesia in a variety of situations. The second, and most significant in light of the news coming out of Asia concerning the spread of Influenza A (H5N1) to humans, will be the Med-Jet-H, for mass vaccination in case of a pandemic, such as Avian Influenza, Polio, Tuberculosis, Malaria or HIV.
MIT is also pursuing increasing interest in its Agro-Jet needle-free injector. Having the same benefits as Med-Jet, Agro-Jet will become a valuable instrument in the fight against Avian Flu via its ability to mass inoculate animals at over 1000 injections per hour.
On December 22, 2005 we announced that as part of its continuing restructuring program MIT is forming two divisions. The Human Medical Technology Division will focus on the development, production, marketing and sale of needle-free injectors and other medical technologies for humans. The Animal Medical Technology Division will deal with all aspects of the development, production, marketing and sale of the needle-free injectors and other technologies for animal applications worldwide.
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