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that is 1.5 million shares we owe Wow that is a good chunk from the float.
dogma
I've been buying this baby
I have been purchasing since the .06s and now I been able to avg down to .03. I have 3/4 million of stocks in this baby I'm done purchasing I was able to hold the .02 support during the past few months and now the trend has changed.
dogma
BUY BUY .02s!!!!
I think the uptrend has started. Once we break the .03 resistance which we should do today next stop .06s. I just bought more at the ask
dogma
KGEM you mention sales of 100 MIT 1000
Kgem you mention about an email from the CEO of sales order of 100 MIT 1000 for this year and the equates to about $3,000,000 in sales. KGEM could you please share with us that email.
DOGMA
WELL WELL WELL!!!!
Lets read what he really was saying in the article
first the article
"MIT is poised to be an important contributor to reducing future food contamination events as witnessed by the numerous MIT 1000 inquiries from prospective customers following the recent egg recall due to Salmonella and the aforementioned beef recall," stated Michael Brennan, MIT's Chairman and Chief Executive Officer. Mr. Brennan further stated, "The MIT 1000 System's ability to conduct an ID test in under 5 minutes for less than 10 cents classifies it as both a rapid and economical ID test that may enable food processors to confirm a food contamination event before widespread distribution has occurred."
Now the Interpretation
Thanks to the MMTC board on I-hub for emailing and informing over 1000 prosepctive customers on the MIT 1000 and informing them how to get in touch with MMTC. Thanks for mentioning in your email a summary about the MIT 1000 cost reduction and rapid identification of 23 different bateria.
How do you think the prospective customers found out about the MIT 1000? They knew about the egg and beef recall from the news, but they didn't just wake up and say "lets contact MMTC about helping identifying the ecoli bateria". No they got a tip from our emails and they put one and one together. This isn't rocket science. Reduce cost and rapid identifcation. I have sent out over 100 emails. Keep the emails going. Make sure to just inform and lead them to MMTC web page or post their telephone number in your email. Leave the selling up to MMTC. It does work as you can see by the PR
Dogam
KGEM Executive Business Summary
Please put this on top as a sticky so it will always be on top
DOGMA
EXECUTIVE
BUSINESS SUMMARY
MICRO IDENTIFICATION TECHNOLOGY (“MIT”) is a California-
based public company (OTC:BB “MMTC”) that has developed
and patented a rapid microbial1 identification (ID) system that
can annually save thousands of lives and tens of millions of
dollars in healthcare costs. The MIT 1000 System identifies
bacteria and other microbes in minutes not days and at
significant cost savings over any other method. Revenues for
bacteria rapid testing exceed $5 billion annually, have
expanded at an average rate of 10.2 percent annually since
2003 and are expected to exceed $6.2 billion by 20132. Recent
increases in food contamination and human infections suggest
that revenue growth will continue to increase.
WHAT IS THE MIT 1000? The MIT 1000 System (Figure 1) is
an optically-based microbial ID system that uses the proven
principles of light scattering with proprietary PC-based software
algorithms to identify bacteria or other micro-organisms. The
System, which is totally Green, can currently identify more than
twenty different species of bacteria without the use of
chemicals, reagents, dyes or DNA processing – the only
additive required is clean water. Other microbes can be easily
added to the System’s ID capability, including; protozoa, fungi,
yeast and mold. MIT, through independent testing, has proven
the ability to identify the most dangerous and pervasive food
contaminating pathogens; E. coli, Listeria and Salmonella; and
major health hazards Staphylococcus aureus (“Staph”) and
Methicillin Resistant Staph aureus (“MRSA”).
The MIT System can complete an ID test in less than five
minutes with a material cost of pennies per test. Competitive
rapid ID test systems exist, but require hours or days for
microbe identification and typically have a material cost per test
exceeding $6.00. Competitive systems also require the user to
pre-test or have a preconceived ID of the bacteria before an ID
confirmation test - if wrong; the test must be repeated.
PATENTS AND TECHNOLOGY: MIT’s System is a patented
technology that measures scattered light intensity as individual
microbes pass through a low-powered laser beam. The intensity
pattern of the scattered laser light is a direct consequence of the
size, shape, external and internal characteristics of the microbe.
The System’s simple mechanical platform is housed in a 12 inch
cube that contains common electronics and light sensitive detectors
arrayed in arcs (Figure 2) surrounding a small specimen vial. The
system identifies the unknown bacteria by measuring and analyzing
the scattered light intensity and compares that data with pre-
measured ID data that was generated in MIT’s Laboratory and
stored in the Company’s proprietary MICROBE LIBRARY.
WHAT ARE THE APPLICATIONS? The MIT 1000 has numerous
microbial ID applications, including: food and water quality control,
clinical diagnostics, pharmaceutical and semiconductor process
monitoring. MIT has chosen to focus initially on food quality control
and clinical diagnostics as recent events have created an urgent
demand for quicker and cheaper ID testing - demands that promote
a high-valued return on a user’s investment in MIT and its
technologies.
FOOD QUALITY CONTROL: The need for rapid ID testing is
increasing as the population becomes less tolerant of
contaminations. During 2008, approximately 76 million cases of
food-borne illnesses occurred. Accoriding to the Center for
Disease Control 325,000 hospitalizations and 5,000 deaths occur
annually due to food-borne contamination, most infections were
caused by E.coli, Listeria or Salmonella – causing the recall of
millions of pounds of processed meats, dairy, fish, and poultry
products and the devastation of numerous crops of lettuce,
spinach, peppers, peanuts and tomatoes. Food contamination
events are increasing at alarming levels.
CLINICAL DIAGNOSTICS: According to the National Health and
Nutrition Examination Survey – MRSA - has become a hospital’s
worst nightmare. Over 43 percent of all skin infections in the U.S.
are the result of MRSA and roughly 28 percent of the population is
infected. In November 2007 the U.S. Center for Disease Control
(“CDC”) reported that in 2005 over 278,000 people were diagnosed
and hospitalized for MRSA-related infections. CDC further reported
that during 2007 invasive infections occurred in over 94,000
instances resulting in 19,000 deaths. MRSA screening of every new
hospital patient is desired, but the cost and time is prohibitive - the
MIT System provides an inexpensive and effective diagnostic tool.
INDEPENDENT VALIDATIONS: North American Science Associates,
Inc. (“NAMSA”), a highly regarded international bioscience testing
laboratory, designed and performed a validation test that compared
the speed and accuracy of the MIT System with an industry standard
rapid ID system. The MIT System was 98 percent correct in 50 tests,
with each test consuming only several minutes for sample preparation
and an average of three minutes for testing versus 60 percent
accuracy and only 5 tests completed in the same period by the
comparative system. www.namsa.com
The U.S. Department of Agriculture’s Advanced Research Service
(“USDA ARS”) group installed a MIT System in May, 2008. The
System was initially used for the rapid ID of the Listeria bacteria - the
USDA ARS obtained 90 percent accuracy on 275 tests. MIT is
expanding this program into a long-term CRADA3 relationship.
During August 2008, the Association of Analytical Communities
Research Institute (“AOAC RI”) was engaged to independently certify
the MIT System and test methods. A comprehensive validation test
protocol was created that included 81 performance tests by two
laboratories on 55 different bacteria and 406 ruggedness tests4. The
testing was completed in April 2009 and the MIT System’s accuracy
exceeded 99 percent, resulting in the receipt of the prestigious AOAC
RI Certification. AOAC is the premier international independent
laboratory for certifying methods for testing microbial contamination in
food and agricultural products and sets the acknowledged GOLD
STANDARD. www.aoac.org
SALES AND MARKETING: Initial sales and marketing efforts are
centered on: Food Quality Control – monitoring any food product for
possible pathogens; and Clinical Diagnostics – providing more
affordable and timely diagnostic healthcare. These applications
exceed $3.5 billion of the total rapid ID test market, requiring over one
billion tests annually at approximately 200,000 worldwide facilities5.
The sales and marketing strategies for the two market segments are
similar: i) Performance validation through placement of systems in
prominent agencies and laboratories – initiated with installations at
NAMSA, USDA and AOAC; ii) Direct sales to food processing
companies, clinics and hospitals - discussions have been initiated with
one of the world’s largest food processors; iii) Formal alliances with
established market leaders in the food and clinical diagnostic testing
sectors – four market leaders have expressed an interest in product
distribution; iv) Sales to organizations that have requirements for
pathogenic testing – Systems are currently installed in the U.S., Japan
and Malaysia.
MIT’s sales channels are a combination of direct sales and
independent Representatives that are in the target markets. The
Company is also establishing an international network of distributors
and currently has nine (9) signed distribution agreements. This will be
augmented by the establishment of strategic alliances with suppliers of
complimentary microbial ID systems.
STRATEGIC LABORATORY ALLIANCES: Discussions are proceeding
with several independent testing laboratories. The premise is that
MIT’s cost and rapid test time, when compared to competing test
methods, will make the laboratory more competitive, profitable and
their clients would receive test results significantly faster. This
collaboration will provide MIT with invaluable and continued user
feedback and revenues. The first Alliance is expected to be
announced in early 2011.
RECURRING REVENUE: The System has several high margin
recurring revenue components: i) Consumable products certified
clean water systems, water filters and microbial
testing vials; ii) System support equipment; iii) Software
support and MICROBE LIBRARY updates; and iv) Annual
maintenance agreements. MIT projects this revenue segment
to initially contribute ten percent of total near-term sales and
grow to thirty percent of revenue within five years.
MANUFACTURING: MIT has entered into a manufacturing
contract with OSI Systems, Inc.6, a multinational company
that has offered a very comprehensive proposal to
manufacture the System under a fixed price contract. OSI
has also agreed to share pre-production and engineering
costs and have always been the source of the System’s
proprietary optical components. This relationship will result
in excellent MIT gross margins, international support and
quality assurance. MIT’s initial order to OSI is for 100
Systems with volume availability in late 2010 – preproduction
systems are currently in evaluation.
Importantly, the OSI agreement eliminates all MIT’s costs
associated with production start-up and will enable
resources to be applied to expanding sales, marketing,
technical support and R&D.
TECHNICAL OBJECTIVES:
•
SYSTEMS ENGINEERING: The focus is on hardware design,
support and implementation – outsourced where
possible. The task is to evolve the MIT 1000 System into
the MIT 1500 and 2000 series. Specifications that will be
further market driven, but with common factors including;
the migration to USB standards and a stand-alone
implementation of integrating a PC, display and
communications modules.
•
SYSTEM SOFTWARE: The constant goal is to expand the
MICROBE LIBRARY. The initial objective is to include all
prevalent food pathogens for an ID during a single test
and apply for additional AOAC Certifications. The
complementary task is to add new species to the
MICROBE LIBRARY and create new libraries for specific
applications, such as the planned joint research with the
USDA ARS CRADA3 which will expand MIT’s proprietary
software to reduce overall test times, improve ID
accuracy into the sub-species level and substantially
increases the overall market.
COMPETITION: There are numerous competitors that range
from standard microbiology methods that have been in
existence for over 100 years to DNA analyzers that are
offered by such prominent companies as Becton Dickinson
and Life Technologies. However, these technologies cannot
deliver results more inexpensively or accurately than the
MIT System. As an example; standard microbial procedures
takes 48 to 72 hours and sometimes a week for results with
an average cost of over $100 per test and extensive
laboratory processing. DNA analyzers have acquisition
costs range from 30 to over 100 percent more than the MIT
System and typically have a cost per test exceeding $6.00
versus the MIT cost of less than $.10 per test and
competing methods which require highly-skilled technicians.
BACKGROUND: The Company, incorporated in 1979, conducted an
initial public offering in 1987 with D.H Blair and prior to 2005 operated
as Electropure, Inc. (OTC:BB “ELTP”) with two divisions: EDI – a
supplier of water purification systems and MIT – the bacteria ID test
system development team.
The Board of Directors in 2006 decided that the best prospects would
come from investing in MIT and selling the assets related to the EDI
water purification business. The Company’s name was changed to
Micro Imaging Technology, Inc. (OTC BB: “MMTC”) and a new
management team was formed. The $2 million in proceeds from the
EDI asset sales were supplemented by over $6 million in private
placements, loans and convertible debt, totaling $8.5 million – which
has funded the ($8.3) accumulated loss through the Company’s
development stage, illustrated in Table 1:
•
August - March – 2011: Sale of $2 million of common
stock through the Dutchess $5 million 3-year Equity
Purchase Agreement8, anticipated monthly receipts are
$250,000 and will be used for working capital.
•
FY 2011: A placement of a $5 million equity instrument,
either with a strategic partner or an institutional investor –
proceeds and results not included in the following
projections.
SHARES OUTSTANDING: As of August, 2010, there are
approximately 150 million common shares issued9, a
projected 12.5 million shares will be issued through a
$500,000 Private Placement7 and a further 33.33 million
common shares placed through the Dutchess Equity
Agreement8 for $2 million. As illustrated in Table 3:
FUNDS RAISED
ORIGINAL PAID-IN CAPITAL (ELECTROPURE “ELTP”) $ 37,551,847
DEVELOPMENT STAGE FUNDING
ASSET SALES
PRINCIPAL’S INVESTMENT
PRIVATE PLACEMENTS
TOTAL DEVELOPMENT FUNDS RAISED
DEVELOPMENT STAGE (DEFICIT)
$
$
$
2,000,000
3,506,684
3,025,660
8,532,344
(8,300,826)
SHARE ISSUANCE SHARES MARKET SHARE
ISSUED VALUE PRICE
ISSUED COMMON SHARES9 150,000,000 $ 6,000,000 $ 0.04
PRIVATE PLACEMENT 12,500,000 $ 500,000 $ 0.04
EQUITY UNDERWRITING 33,333,333 $ 2,000,000 $ 0.06
PROJECTED, MARCH 31, 2011 200,000,000 $ 12,000,000 $ 0.06
TABLE 1– PAID-IN CAPITAL
•
FUTURE EQUITY OFFERINGS: MIT has emerged from its
development stage with patents, successful installations,
independent evaluations, a small but growing backlog and product
availability assured. MIT realizes that further funding is still
required and is committed to supplement earlier investments by
increasing paid-in equity. Table 2 estimates the sources and uses
of proceeds from an agreed $500,000 Private Placement7 and the
initial receipts of $2 million from the $5 million Dutchess Equity
Purchase Line Agreement8 through March 2011. The $1.55
million increase in working capital will sustain approximately 10
months at the Company’s current expense level.
SOURCES AND USES OF PROCEEDS
PRIVATE PLACEMENT7
DUTCHESS EQUITY PURCHASE AGREEMENT8
FUNDING:
LEGAL & ACCOUNTING (S-1 FILING COST)
REPAYMENT OF CONVERTIBLE LOANS (IF NOT CONVERTED INTO EQUITY)
PAYABLES & ACCRUALS
MARKETING
INVESTOR RELATIONS
USE OF PROCEEDS:
INCREASE IN WORKING CAPITAL
$
$
$
$
500,000
2,000,000
2,500,000
(50,000)
(200,000)
(200,000)
(250,000)
(250,000)
(950,000)
1,550,000
TABLE 2– PROJECTED SOURCE AND USE OF PROCEEDS
•
August - December, 2010: An agreed $500,000 Private Placement7
in $50,000 increments: These funds will be used primarily for investor
relations and marketing.
7
Private Placement - Agreed Term Sheet
8
Dutchess Capital Funding -www.dutchesscapital.com
TABLE 3– SHARE ISSUANCE
PROJECTED VALUATIONS: Table 3 - Projected Operations
and Valuation Summary is a four-year operating forecast,
incorporating the current equity commitments and based on
twenty times earnings per share (“20 EPS”):
PROJECTED OPERATIONS AND VALUATION SUMMARY
PROJECTED SUMMARY OF OPERATIONS
YEAR ONE YEAR TWO YEAR THREE YEAR FOUR
SALES $ 2,250,000 $ 9,000,000 $ 18,000,000 $ 40,000,000
COST OF SALES 1,000,000 3,600,000 7,200,000 16,000,000
GROSS MARGINS 1,250,000 5,400,000 10,800,000 24,000,000
OPERATING
COSTS 1,750,000 3,600,000 6,600,000 14,500,000
PROFIT / (LOSS) $ (500,000) $ 1,800,000 $ 4,200,000 $ 9,500,000
PROJECTED VALUATIONS
SHARES ISSUED 200,000,000 200,000,000 200,000,000 200,000,000
EPS $ (0.0025) $ 0.01 $ 0.021 $ 0.048
SHARE PRICE $ 0.06 $ 0.20 $ 0.42 $ 0.86
VALUATION $ 12,000,000 $ 40,000,000 $ 84,000,000 $ 172.000,000
TABLE 4– PROJECTED OPERATIONS AND VALUATION SUMMARY
OPERATIONS: MIT’s management considers the $0.5 million
proceeds from the Private Placement and the $5 million
Dutchess Equity Purchase sufficient to fund objectives until
such revenues are achieved from the business to self-fund
operations. Additionally, with the agreed manufacturing
outsource commitment from OSI further start-up costs are
minimized.
9 MIT’s SEC Form S-1; Filed June 7, 2010 – www.sec.gov “MMTC”
EXECUTIVE BUSINESS SUMMARY
PAGE 3 OF4
BOARD OF DIRECTORS AND SENIOR EXECUTIVES:
Michael W. Brennan, Chairman and President: Mr. Brennan has
spent over thirty years within the computer industry and
participated in the founding of four companies that successfully
became publicly traded corporations through IPOs: three on
NASDAQ and one on the London International Stock Exchange.
Mr. Brennan’s degrees are in Electrical Engineering from USC
and an MBA awarded by Pepperdine University.
Victor A. Hollander, CPA, Director and Chief Financial Officer: Mr.
Hollander was licensed to practice public accounting in California
in 1958 and specializes in audit and securities matters. Mr.
Hollander has been active in various professional areas – serving
on national securities, ethics, accounting and auditing
committees. Mr. Hollander matriculated in Finanace at UCLA.
Ralph W. Emerson, Director: Mr. Emerson is President of FREM
Biosciences, Inc and has product development and research
affiliations with some of the world’s leading biotech firms and held
numerous academic and research positions within the University
of California system. Mr. Emerson, a Fellow of Harvard University,
is Chairman of MIT’s Science Advisory Board.
Anthony M. Frank, Majority Shareholder is a former Postmaster
General and Chairman of the Board and Chief Executive Officer
of First Nationwide Bank, the second-largest consumer banking
operation in America. Mr. Frank currently serves on the Boards of
Charles Schwab & Co. and Transamerica Corporation.
John Ricardi, Executive Vice President and Chief Operating
Officer joined MIT in August 2007. He has over 25 years of
general management and business development experience in
high technology companies in the life sciences and
semiconductor industries. Mr. Ricardi holds Bachelor and Master
Degrees in Electrical Engineering from Northeastern University.
David Haavig, PhD, Vice President and Chief Scientist joined MIT
in 1998 as Director of Research and Development and has over
thirty years of experience in instrument and computer software
design with applications in optical measurements and analysis.
Dr. Haavig’s undergraduate and graduate degrees are in physics
with a PhD awarded from Purdue University.
BOARD OF SCIENCE ADVISORS:
Kary B. Mullis, PhD is a Nobel Prize-winning chemist who
invented the polymerase chain reaction (PCR) which made DNA
analysis practical.
Eric Ackerman, PhD is a senior scientist at the Pacific Northwest
National Laboratory emphasizing research in cell biology and
biochemistry.
CORPORATE PROFILE:
•
Symbol: OTC-BB: MMTC (Formerly ELTP)
•
Method of becoming public: IPO – D.H. Blair (1987)
•
Management change: New management (2005)
•
Reorganization: Renamed MIT and divested assets not
related to MIT (2005)
•
Number of shares issued: 160,000,000 (All common)
•
Number of restricted shares: 80,000,000 (Officers,
Directors and Affiliates)
•
Number of shares in float: 80,000,000 (50 percent)
•
Number of shareholders of record: Approximately 500
•
Share price range (2010): $0.015 - $0.18
•
Market capitalization range, year-to-date: $1,800,000 -
$15,000,000
•
Attorneys: Christopher Dieterich and Associates
•
Auditors: Jeffrey Gilbert and Associates
•
Referenced financials: www.sec.gov (“MMTC”)
•
Bankruptcy and liens: None
•
Legal Issues: None
•
Regulatory problems: None
•
SEC Filings: Current with all SEC filing requirements.
•
Fiscal Year Ends on: October 31
FIGURE 3 – MIT Two Year Trading Histories
This document 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 – available free of charge, referencing MMTC, at www.sec.gov.
MICRO IMAGING TECHNOLOGY, INC.
970 CALLE AMANECER, SUITE F . SAN CLEMENTE, CALIFORNIA 92673
TELEPHONE: (949) 485-6001 . FACSIMILE: (949) 485-6005
www.micro-imaging.com
MICHAEL BRENNAN, CHAIRMAN . DIRECT TELEPHONE: (805) 557-0614
Email: mbrennan@micro-imaging.com
kgem can you forward me the Business Summary
Can you send me the Business Summary pdf file email it to MISdirector@badriver-nsn.gov I can convert it to text so then we can post it as a sticky. The business Summary contains alot of good info for investors.
Dogma
kgem neither did I
I to placed a order, but did not get it filled. Smitter thinks this will dip below .02 to around the .007 to .01. I tell you there is alot of support at .02. We have dip below the .02 but only to have it rebound quickly back above .02. I think we have bottom at .02. I hope I don't eat my words. I will put in an order tomorrow and see if I can get it filled at .02. One more thing, I have notice we are starting to gain interest on this board. Keep on spreading the word.
DOGMA
Another email from the FDA
I got another response from Jeannine. Now I have a communication line with somebody from the FDA. With her help I should be able to get deeper into the FDA organization.
Dear xxxxxxxxx, you are welcome and thanks for the thanks. You might want to email our industry staff at industry@fda.gov to see if they have anything for you. I don't believe so because we would not normally get involved with the procedures only the outcome. Have you tried to email or contact any of the food trade associations? I'm still attempting to determine what office I can forward your email to. I will let you know.
Jeannine Acklin
Consumer Affairs Specialist
Communication and Coordination Branch
Division of Education and Communication
Office of Food Defense, Communication,
Education and Response
Center for Food Safety and Applied Nutrition
This communication is consistent with 21 CFR 10.85 (k) and constitutes an informal communication that represents my best judgment at this time but does not constitute an advisory opinion, does not necessarily represent the formal position of FDA, and does not bind or otherwise obligate or commit the agency to the views expressed.
________________________________________
From: xxxxxxxx[mailto:misdirector@badriver-nsn.gov]
Sent: Wednesday, September 08, 2010 7:36 PM
To: CFSAN-Consumer
Subject: MIT 1000
Jeannine
Thanks for the response. I have been emailing quite a few governmental agencies and no response except for you, so thanks for taking the time to email me. I'm wondering if you could put me in contact, either by email or phone, of who would know if the FDA is aware of the MIT 1000
Finally an email response!!!!
It is not much but it is a start!!!!!
Now I have communication with somebody from the FDA lets see if I can get any other emails from Jeannine
Dear xxxxxxxx, I don't know what testing methods the Agency has reviewed but I will pass on your recommendation.
Ms. Jeannine Acklin
Consumer Affairs Specialist
Communication and Coordination Branch
Division of Education and Communication
Office of Food Defense, Communication and
Emergency Response
Center for Food Safety and Applied Nutrition
U.S. Food and Drug Administration
This communication is consistent with 21 CFR 10.85 (k) and constitutes an informal communication that represents my best judgment at this time but does not constitute an advisory opinion, does not necessarily represent the formal position of FDA, and does not bind or otherwise obligate or commit the agency to the views expressed.
-----Original Message-----
From: xxxxxxxxxx
Sent: Saturday, September 04, 2010 1:31 PM
To: CFSAN-OCO2
Subject: MIT 1000
FDA claims they are not proposing tougher rules and regulations for food contaminants because they cannot find a rapid test. The FDA says a rapid test would be one "that could provide accurate and reliable <http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54087023> identification within minutes
Has the FDA ever look into the MIT 1000 for rapid identification? Below is a brief summary of the MIT 1000
The MIT 1000 from Micro Identification Technologies (www.micro-imaging.com (MIT) is a laser-based, microbial rapid identification system capable of identifying 23 different species of pathogenic bacteria - just minutes after culturing. Due to the small sample volume required, culture time is also reduced by up to 50% compared to standard testing procedures. In most cases, results can be obtained in as little as eight hours from the time the culturing process begins.
The value of this system is high when compared to other testing methods. The cost per test (after culturing) is estimated to be approximatelyten cents*, compared to an average rapid identification cost of $2.85
Testing IDENTIFICATION
LIBRARIES SPECIES
Bacillus
Cereus
Subtilis
Enterobacter aerogenes
Enterococcus faecalis
Escherichia
Coli
coli O157:H7
Klebsiella pneumonia
Kocuria rhizophila
Listeria spp
Proteus
Mirabilis
Vulgaris
Pseudomonas aeruginosa
Salmonella
Choleraesuis
Typhi
Typhimurium
Shigella
boydiiserotype 1
flexneri serotype 1A
sonnei
Staphylococcus
aureus
aureus (Methicillin resistant)
epidermidis
Streptococcus pyogenes
Yersinia ntercolitica
xxxxxxx
02. strong Support!!!!!
Smitter the .02 support is very strong and has bounced below the .02 support only to bounce right back. the real test is going to be when 3q comes out. I'm hoping the .02 support holds.
DOGMA
SMITTER
YES email me the Executive summary
Check your yahoo junk email. For some reason Yahoo mail put any .gov email account into the junk emai "go figure". Send it to MISDirector@badriver-nsn.gov
Dogma
YSUNG domino Effect!!!!
the alliance with a laboratory sounds like a sure thing and once that happens there will be a domino effect. Once this laboratory purchases the MIT 1000, They will be able to sell their services at a reduce cost and response time will be quicker. This reduce cost and quicker response will be substantial compare to other laboratories. In order for the labatories to compete, they will have to find away to compete with the reduce cost and quicker response time forcing them to purchase the MIT 1000 to remain competive.
DOGMA
YSUNG i feel your pain
I too have avg down from .063 to .038. I still pretty new to this trading business and not as wise as vinwin and smitter, but I do know my software and this has big time potential written all over it. Just a couple of quote from the Business Summary.
"discussion have been initiated with one of the world's largest food processors" I'm wondering who TYSON, CARGILL, KRAFT or somebody else. "four market leaders have express interest in product distribution. This one is the most exciting "The first Laboratory Alliance is excepted to be announce in early 2011". Somebody put me in a coma until April of 2011, the suspense is killing me. VINWIN and Smitter how do you guys become so patient and know when to pull the trigger? I'm buying more, but will wait and see if the .02 support breaks.
DOGMA
Smitter send me the Pdf
Smitter I emailed you twice but did not receive any response. Send me the PDF and I will convert it to text and post. Send it to MISdirector@badriver-nsn.gov
DOGMA
KGEM still can't view link
just copy and paste to your above post
or create a new post.
Dogma
I can't view the link
Can somebody post it to the top with the other 2 post so everybody can read it.
Dogma
VinWin I like your style
kgem WOW impressive!!!!
email Committee
I couldn't email the congressmen Because they aren't in my district. You can email the committee and below is the link
https://forms.house.gov/sites/comms/energycom_dem/webforms/form.html
Dogma
TESTING
"have had several distinguished users, including the U.S. Department of Agriculture, Japanese Ministry of Food Safety, University Putra Malaysia and several local contract bioscience testing laboratories"
This is what happens when testing new technology you find testers to test and evaluate the new technlogy for a time period. The MIT 1000 was probably given to the above users for free and in return they provide crutial feed back. The MIT engineers take this crutial info and make enhancements to the technoloy. The product is now ready for mass production as prodvided by the PR. This is text book.
Dogma
Vinwin Bookvalue
VinWin you sound like you are pretty knowledge in stocks. What is the book value of the MMTC? I can't come up with a number without some kind of sales and I can't find anything to compare the MIT 1000 to. Do you have any idea what the price is and where PPS could end up?
Dogma
Profession Software Engineer What yours???
Lets see what kind of knowledge we have on this board and see if we can make a little bit of money. I'm a Software Engineer and I have 15 years of experience in developing software.
Dogma
VINWIN thanks sending emails
Digra Ive insider buying and selling
when corporate insiders—officers, directors, and employees—buy and sell stock in their own companies. When corporate insiders trade in their own securities, they must report their trades to the SEC I don't know the forms name but you will see them here on the MMTC board
Dogma
One more thing!!!!
Follow the inside buying and Selling. There hasn't been any inside selling.
Dogma
I'm going to email the congressmen.
Dogma
Something is going down!!!!
I have notice alot more bashing on the Yahoo MMTC board then previous. It all started after the PR. All of the comments don't have any merit. I don't know if it is pissed off investors that got burned in the last PR or paid bashers by MMs. I'm leaning toward the paid Bashers by MMs. MMs are trying to get this stock very cheap and trying to drop the PPS below .02 which would break a holding level and force some of the tech traders into selling. They are also trying to scare folks into selling their stock by droping the PPS. Follow NITE he is the ax on level 2 and trying to force the PPS below 02. Don't be fooled by the day to day trading and sell your stock. Follow the story and revaluate the company every 3 months and see if the story is still intact. They haven't mislead or lied about anything I even think they are a little bit to truthful. This stock is going to pop. When I don't know, but the increase bashing after the PR leads me to believe that the MMs know that this stock is going to pop and they are accumlating.
Dogma
Send email to New York Times
I sent an email to William Neuman a writer from the New York Times. He wrote the article Beef Recall Heats Up Fight to Tighten Rules. So send him an email about the MIT 1000. Below is a link to his articles and just select Send an E-Mail to William Neuman.
http://topics.nytimes.com/top/reference/timestopics/people/n/william_neuman/index.html?inline=nyt-per
Kgem I seen your comment
and I posted one myself. Do you have the name and email address of the congressmen heading up the vote?
dogma
KGEM who is making those claims
I want to email them. Do you have names and email addresses of these congressmen?
DOGMA
Lets look at the FACTS!!!!!
1. $5,000,000 financing by Dutchess
2. Nadaq Manuafacture
3. Backlog of sales orders
4. 80% of stock owned by insiders (Can somebody check this out I'm just going on previous post)
5. MMTC pays some of its Accounts Payable in Stocks (I put this in to show that other folks or companies believe that this company is going to be worth some money some day. I know they paid some of the lawyers in stock.
It is going to come down to Marketing and I'm wonder who is their marketing director does anybody know? I think alot of the Financing is going to be used for Marketing.
Dogma
Patient Folks!!!!!!!!
I didn't post during the PR cause I don't want to get involved in the hype. Don't get me wrong it was a good PR and the PR just backed up everything in my email back in May. I hope the .02 level holds. I do both tech and Fundamental trading. The little spike we had couple weeks ago was a tech trade and they came on this site and pump the stock and took it to the first resistant level of .03. The PR was a day trade and folks excepting a bigger bang didn't get it and sold which drop it below .02. I'm trading this one on Fundamental. The next quarter filing is going to be horrible with no sales I expect the PPS may drop and if does I will buy more. I just cashed out my 401k and transfered it into my broker account. 4th quarter we should see some sales and maybe get some projections on revenue and then I will revaluate the company. This will put us into early next year. Nothing happens over night. The Tech trade for MMTC is still trending downward. I think if the .02 can hold through the 3rd quarter we may of found a bottom, but I won't hold my breath. I think when fourth quarter comes out we will get a reversal and the uptrend begins. So folks keep on buying on the downslop. I have average down my PPS from .063 to .038 and I going to get it down to mid .02s. Don't get me wrong I have lost a shit load of money actually I haven't lost anything CAUSE I HAVEN'T SOLD ANYTHING. When this takes off it is going to take off.
DOGMA
Kgem good question to ask MMTC
Does the MIT 1000 identify the ecoli as a 60% match of an ecoli micro because it has some of the Characteristic of the ecoli micro. You should get a response pretty quick from them.
dogma
check out DMGM wow up %5500
I do not own DMGM, but wow!!!
The same can happen to MMTC the only question is when
Dogma
How is everybodies posting going?
I have sent emails to foxnews, cnn, headline news, cnbc, and one food company Cargill? Below is my generic email that I send and I just change the first 2 sentences depending on who I'm emailing
Maybe somebody should do a story on a little company that manufacturers a device that can indentify salmonella in half the time and cost. What would take days to indentify, now takes less than a day on some micros. Below is a summary.
The MIT 1000 from Micro Identification Technologies (www.micro-imaging.com (MIT) is a laser-based, microbial rapid identification system capable of identifying 23 different species of pathogenic bacteria – just minutes after culturing. Due to the small sample volume required, culture time is also reduced by up to 50% compared to standard testing procedures. In most cases, results can be obtained in as little as eight hours from the time the culturing process begins.
The value of this system is high when compared to other testing methods. The cost per test (after culturing) is estimated to be approximatelyten cents*, compared to an average rapid identification cost of $2.85
Testing IDENTIFICATION
LIBRARIES SPECIES
Bacillus
Cereus
Subtilis
Enterobacter aerogenes
Enterococcus faecalis
Escherichia
Coli
coli O157:H7
Klebsiella pneumonia
Kocuria rhizophila
Listeria spp
Proteus
Mirabilis
Vulgaris
Pseudomonas aeruginosa
Salmonella
Choleraesuis
Typhi
Typhimurium
Shigella
boydiiserotype 1
flexneri serotype 1A
sonnei
Staphylococcus
aureus
aureus (Methicillin resistant)
epidermidis
Streptococcus pyogenes
Yersinia ntercolitica
Taking an Educated guess
I'm thinking the approval for the financing is very close and once approved we will see a major PR about their business plan. I'm going to keep on saying this follow the story. Major financing $5,000,000 and a Nasdaq Manufacturer to manufacturer the MIT 1000. These 2 big hitters do not just throw money away. to give $5,000,000 you must have a damn good business plan with project revenues. I have been buying like crazy and here is my story I bought my first 100,000 shares at .06 yes I took a hit and I almost sold at .04 but didn't I keep looking at the financing so I bought my next 100,000 around .04 I took another hit. Man I'm losing my ass, but I kept looking at that financing and stuck to my guns. I bought my next 300,000 at the .02s and Now I'm almost out of money and I will spend the rest tomorrow. I think next week we will get approval from the SEC and should get a pop from that but I'm in for the long haul 3 years(that is how long the financing agreement is for). I think if I can make 700,000 in 3 years with a investment of under 20,000. I think that is a pretty good return on my investment. BUT there is always a but and that is the risk factor and I could lose $20,000 and the financing compaany could lose $5,000,000 and that is why I believe this will make me money I can't see a financing company throwing away $5,000,000 I know it happens but most time not or other wise they would not be in business. Follow the Story and pray for a happy ending. just kidding
Dogma
Need Help
Guys it is fun to post here and pump, bash, and inform folks, but If you want this stock to get notice you have to go and sell the product. We have the egg recall all over the news and the news are eating it up left and right. What would be another good story? What technology is out there that could have help prevented this from happening? I have been posting and emailing on all the major news sources about the MIT 1000 and I haven't got a response yet. I've also be emailing all the major Food companies and I also emailed the FDA. I don't mislead them I just inform and give them a summary of the MIT 1000 and post their web page. We need everybody to start emailing and posting on the major news sources and emailing major foods companies. We have to get some notice now while the story is hot. I give you a good example of what news can do. The Palm cell phone that piece of crap went from nothing to upper teens before crashing back to reality and they were all over cnbc everyday pumping this stock. I even got in at 7 and road it up to 14 and cashed out. I think this MIT 1000 has a better shot then the Palm.
Dogma
Why did I get a email response so quick I will explain
I sent John an email about the Funtion of the MIT 1000 and not about sales or projections or contracts. He can not answer any of those questions until the Financing is approved by the SEC, but he can answer questions about the function and operations aspect of the MIT 1000. Everything is riding on the approval from the SEC. In other emails the word John used was "SOON" and according to VinWin who as exprience in the SEC rules and regulations that approval is only weeks away "hopefully". Once the SEC approves the financing, MMTC will put their Business plan into action. If you read my email from the CEO back in May he stated by the end of the year and I think he knew the approval from the SEC was going to take sometime. We are approaching the end of the year. It is now starting to make sense and I'm very excited about this company. Follow the story. $5,000,000 financing by Dutchess, A Nasdac Manufacturer Distrubitors globally, and sales contract. I think the sales contract that he applied to in my email are based on the financial agreement and he can't release them publically until the SEC approves the financing. It is going to come down to "MARKETING". This is my thinking on the pricing of the MIT 1000. You pay a base price of $30,000 and if you buy now we give you 3 micros identification for free for 1 year. After the 1 year you have to pay a yearly fee per micro identification, This way you will always have revenue coming in. Am I on the right track or did I fall off my rocker.
Dogma
Below is an email from John about quantification.
I guess I was wrong but right. Take it either way but I'm buying more shares in the morning.
From: John Ricardi [mailto:jricardi@hi-tch.com]
Sent: Sunday, August 22, 2010 11:23 PM
To: xxxxxxxxxxx
Subject: RE: So can the MIT 1000 identify the quantity of bacteria in a sample
Hi xxxxx, thanks for your interest in MIT and the MIT 1000 System.
The MIT 1000 does not quantify, it identifies. However, it can be used in the same way microbiologists determine quantification today through iterative dilution techniques. Quantification is desired in some applications to determine the severity of the contamination. For example, in the drinking water market, satisfactory water can have small levels of specific types of bacteria or other microorganisms present. This is not true in food safety that is MIT’s primary market.
However, the Quantification feature can be designed into the MIT 1000 and is in the R&D plans for the Product.
Sincerely,
John
John Ricardi
EVP & COO
Micro Identification Technologies, Inc.
Direct Tel: 805-604-0887
Fax: 805-604-0787
Cell: 805-368-1117
Office
Tel: 949-485-6000
Fax: 949-485-6005
970 Calle Amanecer
San Clemente, CA 92673
www.micro-identification.com
--------------------------------------------------------------------------------
From: xxxxxxxx
[mailto:xxxxxxxxxx]
Sent: Friday, August 20, 2010 7:38 PM
To: 'info@micro-identification.com'
Subject: So can the MIT 1000 identify the quantity of bacteria in a sample
Hi
I’m a shareholder of the MMTC and a question came up that I never thought of from one of your Distributors. Basically the distributor said once the MIT 1000 can identify the quantify of bacteria in the sample then it would be a wanted device in his country. So can the MIT 1000 identify the quantity of bacteria in a sample?
Thanks