MMTC-Epic and Micro Imaging Technology Announce a Significant Equity Alliance
AUSTIN, TX, Jul 25, 2011 (MARKETWIRE via COMTEX) -- EPIC Corporation (PINKSHEETS: EPOR) (the "Company"), announced that it has entered into a significant long-term equity alliance with Micro Imaging Technology, Inc. Under the terms of the signed Memorandum of Understanding, EPIC has committed to purchasing a substantial equity position in MIT and as a healthcare products and services company, it will receive the benefits of MIT's revolutionary technology. "EPIC is fortunate to become a part of Micro Imaging Technology," said Ronald Tucker, CEO of EPIC. "We believe that Micro Imaging is undervalued. The Company's balance sheet fails to reflect the value of the commercialized device for identifying bacteria and the 20 or more libraries that can be used to identify other bacterium, including MRSA."
ABOUT MICRO IDENTIFICATION TECHNOLOGIES: MIT is a California-based public company that has developed and patented a Rapid Microbial Identification System that revolutionizes the pathogenic bacteria diagnostic process. The System identifies bacteria in minutes and at a significant per test cost savings when compared to any conventional methods. It does not rely on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. The process requires only clean water and a sample of the unknown bacteria.
MIT previously completed an extensive evaluation by the AOAC RI Institute which included rigorous independent testing and thorough reviews by its expert examiners, including the U.S. Department of Agriculture.
MIT has also demonstrated the ability to detect and identify, within several minutes, the microbes Escherichia coli, Listeria, Salmonella, Staphylococcus aureus, and other pathogenic bacteria. The System can currently identify 23 species of bacteria and its capabilities are easily expanded. The identification process has been verified by North American Science Associates, Inc. (NAMSA), an independent and internationally recognized microbiological testing laboratory. See www.micro-imaging.com.
About EPIC Our business plan is to enter into agreements with companies like Micro Imaging who are developing technology to provide people with better healthcare. The essence of these agreements is to provide the companies with funding for regulatory approval, if necessary, product commercialization, product procurement, marketing and distribution. See www.epiccor.com.
CONTACT: Ronald Tucker CEO Email: Email Contact Telephone: (760) 771-0036