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Quantification Came Up
On Yahoo MMTC board a Quantification question came up. On the Yahoo MMTC board one of the posted message was a email from a distributor from an other country. Here is the email
******
Dear Sir,
In [country] the MIT 1000 will do work if it prove the quantification ability for analysis .
Hope you will understand.
With Regards
*******
So I did some digging and posted this
I don't know what kind of guidlines other countries have but after reading through the spec sheet of the MIT 1000 which can be found on their web site I come to the following conclusion that the MIT 1000 can count the quantity of micros found in a sample. Below are some copy and paste from the the spec sheet:
*********
Identification Measurement
FIG 16 shows the identification probability accumulation graphically using actual data. In
this case, a colony of E. coli O157:H710 was sampled and measured. After the 15th event,
the probability for E. coli
O157:H7 rises above
99.9% and the sum of the
probabilities of all the other
species drops below 0.1%.
The identification occurs
when one curve is above
0.999 for five sequential
measurements. The identification
shown in FIG 16
occurred after measuring 20
cells in an elapsed measurement
time of about three
minutes.***
I don't know what the Distributor means by Quantification, but the ability to count indiviual cells of the species seems to mean quantificaton.
Here is another copy and paste from the spec sheet.
***********
Validation
North American Science Associates, Inc. (“NAMSA”) has validated the MIT Colony
Identification process. For over 35 years, NAMSA has been one of the world's leading
independent laboratories specializing in the safety evaluation of medical devices.
NAMSA offers testing services and products to device manufacturers, raw material suppliers,
pharmaceutical companies, sterilizers, and other related industries - primarily serving
the health care industry.
NAMSA evaluated biocompatibility appropriate to the intended use of MIT’s rapid microbe
detection and identification system compared with conventional microbe identification
systems. NAMSA’s programs follow Food and Drug Administration (FDA) guidance
and International Organization for Standardization (ISO) 10993 standards.
NAMSA chose the industry standard MIDI Sherlock Microbial Identification System
(“MIDI”) as the initial process to verify the accuracy of MIT’s diagnostic capabilities.
The MIDI system identifies bacteria and yeast based on gas chromatographic (GC) analysis
of fatty acid methyl esters (GC-FAME).
American Type Culture Collection (“ATCC”) provided the microbes. ATCC’s Bacteriology
Collection is the most diversified assemblage of prokaryotes in the world, containing
nearly 18,000 strains in more than 750 genera. Every important prokaryotic physiological
group is represented. The Collection holds more than 3,600 type cultures of validly described
species, forming the basis for systematic bacteriology, and nearly 500 bacteriophages.
ATCC provided five (5) certified bacteria samples for the comparative study between
the MIT and MIDI Systems.
Test results: NAMSA performed 50 tests on the MIT system, ten specimens for each of
the five bacterial species, and had 49 correct identifications (98 percent correct). Average
time for sample preparation was approximately one minute and the average test time was
about three minutes. NAMSA performed five tests on the MIDI system, one for each of
the five bacterial species, and had four correct identifications (80 percent correct). The
incorrectly identified sample was repetitively tested and was still not properly identified
by the MIDI System. Average time for sample preparation was approximately one hour
and the average test time was about 20 minutes.
A copy of the report is available upon request.
************
Now if NAMSA’s programs follow Food and Drug Administration (FDA) guidance
and International Organization for Standardization (ISO) 10993 standards,
won't you think that one of the findings would of been "NOT ABLE TO ESTABLISH QUANTIFICATION".
These are just my opion and would like to hear what other folks have to say.
Dogma
vinwin what is your take
vinwin you said that yuo are familiar with upstart company and SEC rules. Do they have to go through this S-1/A process everytime requesting finance from Dutchess and will it always take this long? So what is your take on MMTC? This is my take. I think they have a device that is very attrative and marketable. MIT 1000 has pass all the test and there is no question that this device works. I have read on there web page where it only takes up to 8 hours from culturing to indentfying some of the micros.
Dogma
S-1/A Filing
I think MMTC hasn't received any finance from the Dutchess. Here is my reasoning if you look at the agreement with Dutchess, it states that it would use the past 5 trading days at 95% PPS to come up with a PPS to sell its 11,000,000 shares to Dutchess. The date on the S-1/A is Aug 19 and the PPS at that time was in the .02s. I think this is an Admendment to the first S-1/A. I think the SEC has to approve the sale of the stock before MMTC can receive any financing from Dutchess. I think MMTC filed the S-1/A with the SEC and then it goes under review where the SEC either accept, rejects, or sends it back for admendments. What do you guys think. I'm not that educated in the rules and regulations of the SEC.
Dogma
Read My email from the CEO back in May
Folks what is going to happen is in the contract with OSI and Dutchees. These 2 major hitters would not have agree to contracts if they were not presented with some kind of business plan from MMTC. In that Business plan there is detail revenue projections for 36 months. Dutchess must feel comfortable with the business plan in order to sign a contract for $5,000,000. Dilution will happen with the sales of stock to Dutchees but i'm not worried about it cause I know that Dutchess are not selling anytime soon. Like I said I don't expect anything until late fall or even early next year and at that time I will re-evaluate the company. Until then I just keep on buying. We have a few day traders trying to make a buck here but they found out it is hard and they sell for less then what they purchase and causing the price to drop. I have average all the way down from .06. I'm holding and buying for another 36 months.
Dogma
Checking In
I do not post much, but I see there is some concern about the email I received from MMTC CEO. The email is legit. I've email him again at the end of June, but got no response. I'v baught over 100,000 shares around .06 and I thought I was getting a deal. I almost sold everything at .04 but didn't. Why cause I keep going back to my email. Sales contract and the $5,000,000 financing. There is no way a financing company is going to put up $5,000,000 without some kind of business plan that includes Revenue flow. I have been buying all I can at the .02's level. I think things aren't going to start heating up until late in the fall It is never fast enough for us investor. This is why the price is droping. You have the day traders buying and hoping for a pop and when it doesn't come they sell for a loss which drives down the PPS and I'm there to buy. There isn't to many shares floating around out there that folks are going to give up so I don't see this going below .02. So do what I do when feeling uneasy just read my email and buy more shares.
Dogma
Cost Saving is huge 1.5 Billion/yr !!!!
System offers significant advantages in operating cost and contamination results.
??Results are in less than 10 minutes after culturing.
??Culturing sample size is adequate in one-half the time when compared to conventional identification methods.
??System operating cost is les than $0.10 & uses no reagents or additives.
??System capital cost is much less than other rapid test systems.
??System can presently ID 23 species and is easily expandable.
??MIT 1000 surpasses competition in many critical areas.
??AOAC RI PTM certification achieved with 99% accuracy score enabling sales to food protection market.
FOOD MARKET
Annual Number of Biological Tests 630,000,000
Annual Biological Test Revenues 1,650,000,000
Average Cost/Test ($) 2.62
Estimated MIT 1000 Test Cost ($) .10
Potential Annual Savings with MIT 1000 1,587,000,000
System Validation
??AOAC Research Institute Performance Test Method Certification –prerequisite for sales into food protection market –99% accuracy in 55 tests conducted.
??North American Science Associates (NAMSA) compared the System to a product used by many diagnostic labs –MIT 1000 98% accuracy vs. Competitor 60% in 1/10th the time.??
USDA evaluated the MIT 1000 for its performance in the identification of Listeria –90% accuracy in 255 tests conducted.
check out the PDF on their web site
http://www.microidtechnology.com/images/downloads/MIT%201000%20System%20Overview%202-10.pdf
incubation & Preparation Time is 10 - 48 hours
Identification Time is 5 minutes
Where they excel is in the Identificaton time and Cost/Test
If I buy some KAT common stock tomorrow do you think I would be included in 1 for 4 BVIG deal
dogma
As you can see by my email, he hopes to be in full production by year end. He does state that he has sales contracts, but I'm guessing they are trial and test sales. Because he states later that he can't project the sales when he hasn't figure the price or the pricing of all the configerations. This one is a long term hold. LIke I said the Duthees and OSI know more then us and are willing to invest. Also the insiders hold over 50% of the stocks and are buying. What will drive this to the moon is a bacteria breakout and you know it going to happen it is just a matter of time. I hope we get more clarification on pricing and sales forcast. I think we got a winner here.
Smitter is there anyway to keep my post at top?
I think it contains forward looking infomation that folks can use. I will stay in contact with Mr. Bennan and I will post his emails.
Dogma
Email Response from Mr Brennan
Listed below is my email conversation with MMTC Chairman
Sunday May 30th
HI
I’m looking to purchase some mmtc stock, but before I do I’m wondering if you could possible answer the following questions.
1. When will OSI start manufacturing the MIT1000?
2. Do you have sales contracts already and if so how many?
3. What are your projected sales for 2010, 2011, 2012?
4. What is the selling price for the MIT1000?
5. Can you please explain the conditions about the sales of the stock the Dutchess Capital owns? Are there any restrictions on price or time that the Dutchess Capital can start selling their mmtc stock?
I’m very interested in purchasing a huge amount of stock, but I need some clarification on the contract with OSI and Dutchess Capital. Financing/
Monday, May 31, 2010
Good Morning Mr. xxxx
I will try, in the following text, to answer you excellent questions – but first let me suggest a visit to our web site www.micro-identification.com – where most disclosable information is provided. Further financial information can be obtained from the Securities Exchange Commission's (SEC) site; www.sec.gov – referencing “MMTC.”
The following are my responses to your queries:
1) When will OSI start manufacturing the MIT1000?
a) Attached is the OSI Press Release that details pubic disclosed information – we hope that OSI is in full production later this year.
2) Do you have sales contracts already and if so how many?
a) Yes, we have received sales contracts but have not publicly disclosed the client or contract value.
3) What are your projected sales for 2010, 2011, 2012?
a) This information has not been publicly disclosed neither has the pricing for various configurations of the System.
4) Can you please explain the conditions about the sales of the stock the Dutchess Capital owns? Are there any restrictions on price or time that the Dutchess Capital can start selling their “MMTC” stock?
a) The terms of our Agreement with Dutchess Capital is fully disclosed in our May 7, 2010 Form S-1 filing with the SEC, but in general: MIT will not receive any proceeds from the resale of these shares of common stock offered by Dutchess. We will, however, receive proceeds from the sale of shares to Dutchess pursuant to the Agreement. When we put an amount of shares to Dutchess, the per share purchase price that Dutchess will pay to us will be determined in accordance with a formula set forth in the Investment Agreement. Generally, in respect of each put, Dutchess will pay us a per share purchase price equal to ninety-five percent (95%) of the lowest daily volume weighted average price of our common stock during the five (5) consecutive trading day period beginning on the trading day immediately following the date of delivery of the put notice. The Press Release is also attached.
Dutchess may sell the shares of common stock from time to time at the prevailing market price on the Over-the-Counter (OTC) Bulletin Board, or on an exchange if our shares of common stock become listed for trading on such an exchange, or in negotiated transactions. Dutchess is an "underwriter" within the meaning of the Securities Act of 1933, as amended (the "Securities Act") in connection with the resale of our common stock. For more information, please review the S-1 filing with the SEC.
Mr. xxxxx, thank you for your interest in MIT – we believe it is an exciting Company, in a large growth market with excellent prospects.
Thanks again and Happy Memorial Day,
Michael W. Brennan
Chairman
Micro Identification Technologies
Direct:
Telephone: (805) 557xxxx
Facsimile: (805) 557-xxxx
Cell: (818) 585-xxxx
Email: logimaging@aol.com
Office:
Telephone: (949) 485-6000
Facsimile: (949) 485-6005
Email: mbrennan@micro-imaging.com
May 31st Monday
Michael
Thanks for the quick response. I have looked at your financials and as you know stocks trade in the future and not in the past. You did get my attention with sales contract and hopefully full productions by year ends. You have a $5,000,000 financial backer in Dutchess Capital and a NASDAQ Manufacturer to manufacture your MIT1000 and I believe they know a whole hell of lot more then I know. I do own a small position. (120,000) shares and am looking to increase that to a million if everything checks out. May I share this email with others MMTC investors on Inverstorshub.com? The MMTC board has started to see more interest.
June 1st
Good Morning
I think that your conclusions are well reasoned and correct. I look forward to staying in touch and we would appreciate your carrying the "MMTC" torch to your colleagues. ..
Best Regards,
Michael W. Brennan
Chairman
Micro Identification Technologies
Direct:
Telephone: (805) 557-xxxx
Facsimile: (805) 557-xxxx
Cell: (818) 585-xxxx
Email: logimaging@aol.com
Office:
Telephone: (949) 485-6000
Facsimile: (949) 485-6005
Email: mbrennan@micro-imaging.com
Folks we are sitting on a gold mine!!!! I emailed 'info@micro-identification"and guess who responsed Michael W. Brennan the Chairmen of MMTC. Below are the questions I emailed.
HI
I’m looking to purchase some mmtc stock, but before I do I’m wondering if you could possible answer the following questions.
1. When will OSI start manufacturing the MIT1000?
2. Do you have sales contracts already and if so how many?
3. What are your projected sales for 2010, 2011, 2012?
4. What is the selling price for the MIT1000?
5. Can you please explain the conditions about the sales of the stock the Dutchess Capital owns? Are there any restrictions on price or time that the Dutchess Capital can start selling their mmtc stock?
I emailed him back asking if I can share his response with the MMTC board on investorshub. I do not post very often, but his answers were very exciting. I will post his answer as soon as I get the okay.
Dogma
Thanks for the drilling info!!!! You guys are on top of stuff.
Are they drilling yet? Does anybody know if they are drilling? As anybody emailed KATX about the progress of the drilling. I read in a post that there was a permit issue. Can anyone confirm this. I'm just curious
So do you think drilling has already begun?
that helped.
thanks 911
Is there a reason why they didn't post amount of gold found?
Are these the results we been waiting for??????????????
I have a small position in KATX. I just have a couple of questions. First are these the results we have been waiting for to get back from the labs. Second why didn't they post the amount of gold found in the samples? Thanks for your opion
DOGMA
I'm getting slammed on the other board. NEW NEBULA I posted your comment about overbought.
STOP WITH THE INFO!!!!!!!
I won't be able to sleep Way to pumped.
I have been getting slammed by the chart techs on another board. I told them Thursday night that the stock was going up on Friday and I got slammed by the chart techs saying it was overbought and they were telling folks to sell and I was telling them to hold. Nothing wrong with charts, but Fundamentals trump charts. I remember Jim Cramer saying stock prices are priced in the futher and investors buy stock base on futher events and that is so true. This stock is going straight up. there will be speed bumps, but nothing major.
Just want to say thanks...................................
I found out about this company a couple of weeks ago and sold everything else and stuck all my cash (40gs) and got in at .04 I know you are not supposed to stick everything in one basket, but the DD you folks did is outstanding. I've been trading since last April and I found out one thing I sold to soon on alot of my stock purchases and did not make the kind of money I could of. I'm not selling I'm holding for awhile. Once agian Thanks to you folks.
foward that email on to me. I want to check the servers it hopped. willie@badriver.com
Rainmaker
I do the trading on the side for fun. I love numbers being a computer programmer. I have a small investment in TDGI got in at .015 and I'm holding, but all the emails that are popping up from the CEO is weird. I read a post saying it could be shorties driving up the price and putting out these false emails and then no finacials tomorrow. Am I thinking to much.
Thanks I've seen alot of those type of emails from Eric. I'm going to have to wait and see tomorrow.
Dogma
who said finacials tomorrow I can't verify it anywhere except on forums. I see the CEO Eric said supposedly that he will try to get the finacials out in early January. I haven't cited any difinite date by Eric. He uses the words "try" and "around". You go to their web page and it is under construction. I'm a holder of TDGI but I would like to verify some of these claims.
thanks
Dogma