2010 Major Achievements:
Agreed to a $5 million Equity Line with Dutchess Capital LLC.
Filed an S-1 with the SEC and received effective notification to provide registered shares to sell to Dutchess; the timing, price and amount is at the Company's option.
Entered into several private placement transactions with Asher Enterprises, Inc.
Completed technology development for the MIT 1000 System.
The Company established an international network of distributors with nine (9) signed distribution agreements.
Engaged OSI Optoelectronics (OSIO), a subsidiary of OSI Systems, to manufacture the MIT 1000.
Received and commenced testing of the first production MIT 1000 Systems from OSIO.
2011 Growth Strategy:
Grow core business and distribution network -- sell a minimum of forty MIT 1000 Systems.
Expand bioscience and system support capabilities.
Receive additional AOAC Certifications for food related pathogens.
Increase the high-margin consumable and support products offerings.
License technologies in emerging markets.
Form strategic alliances with other rapid microbial ID testing companies for distribution and further product development.
Consider strategic partnerships or acquisitions of independent food testing laboratories.
Expand product line to include identification to sub-species (strain) level.
What I find interesting about the above is the statement that MMTC entered into "several" private placement transactions with Asher Enterprises, Inc. I wonder if additional loans were obtained that were not PRed.
Increase the high-margin consumable and support products offerings. Does anyone have any idea what these might be?
License technologies in emerging markets. In Southeast Asia?
Form strategic alliances with other rapid microbial ID testing companies for distribution and further product development. I don't think this was mentioned before.
Consider "strategic partnerships" or "acquisitions" of independent food testing laboratories. WOW.
Kgem
