Micro Imaging Technology Inc (MMTC)

[Kgem]

Bill Marler writes a blog directly related to foodborne illnesses. Mr. Marler is a well known and extremely successful attorney who has successfully litigated dozens of foodborne illness cases.

As for the financing statement put out today, I believe this is the same agreement with Dutchess. The agreement with Dutchess indicated that financing would be done in increments, and that such incremental uses would be done on an "as needed" basis for general operations. Some on this board have previously asked how this agreement affects our investment. The financing agreement allows MMTC to operate and grow. The money is to be used to bring the production of the MIT 1000 on line, and to promote and market this product. Is there some dilution involved?


EXISTING STOCKHOLDERS COULD EXPERIENCE SUBSTANTIAL DILUTION UPON THE ISSUANCE OF COMMON STOCK PURSUANT TO THE EQUITY LINE.

Our Equity Line with Dutchess contemplates our issuance of up to 125,000,000 shares (estimated using last reported sale price of our common stock on the OTC Bulletin Board on May 22, 2010 of $0.04 per share) of our common stock to Dutchess, subject to certain restrictions and obligations. If the terms and conditions of the Equity Line are satisfied, and we choose to exercise our put rights to the fullest extent permitted and sell 125,000,000 shares of our common stock to Dutchess, our existing stockholders' ownership will be diluted by such sales.


Kgem