Yesterday we went over the facts of the company from where they've been up to now. Along with that, we discussed financials, future goals of the company and the marketing stage. All said the meeting was very complete and the video will allow the investor to see the company in every light. There were no cameras running during the demonstration. However, we were allowed to view every step of the process as we watched the MIT 1000a perform. I must say that it was a great experience for me to watch a pathogen detection machine at work. It is an incredible machine. We discussed a possible second stage technology of the MIT 1000a. Micro Imaging Technologies will start experimenting with the machine in the future without using cultured bacteria. In other words, one could swipe food or a work area and then place that sample directly in the machine for a reading. The MIT 1000a uses much less bacteria in a sample from a culture then anything ever tested. As such, science at Micro Imaging Technologies may push the machine to higher specs. Today, OSI is calling Micro Imaging Technologies about another model they want to produce, the MIT 1500. So, in my opinion, Micro Imaging Technologies is a very good company to invest in. We were allowed to ask any question we had and afterwards I was able to sit with Michael and talk about the markets in need of the MIT 1000a. It was a very good day.
Just so that everyone knows, there were no announcements and names of large silent investors were not mentioned. A press release will reveal what we need to know by the end of January. It's all in the video. The video will be out next week. Right now, the video is being edited for YouTube.
To me, financials look okay. However, some dilution will follow as the company moves forward. A reverse split was discussed at around 1/25. The price when the reverse split comes would need to be between .50 and .75 in order to get Micro Imaging Technologies into the Nasdaq. We discussed this at length at the shareholders meeting.
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