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Micro Imaging Technology, Inc. Message Board

  • franzjosefhidin franzjosefhidin Oct 26, 2011 12:20 AM Flag

    2M in operating costs if they want it.

    Micro Imaging Technology Receives a Substantial Exclusive Licensing Proposal From EPIC Corporation
    MarketWire - 10/25/2011 @ 12:49PM

    Micro Imaging Technology, Inc. (OTCBB: MMTC) (OTCQB: MMTC) announced that it has received a substantial exclusive licensing proposal from EPIC Corporation that offers initial payments of $2 million and royalty payments in perpetuity for sales of MIT hardware and software technologies. This follows MMTC's July 2011 announcement that EPIC had entered into an MMTC Stock Purchase Agreement and that an EPIC principal had invested in MMTC.

    Mr. Michael Brennan, MMTC's Chairman, stated, "Our Board of Directors and outside advisors are seriously considering EPIC's proposal and will respond in the very near future. The prospects could be highly advantageous; providing an additional funding source allows us to focus on our core market segment of food safety as EPIC expands our technologies into additional markets, including: diagnostic and clinical processes, water and beverage quality control and environmental and clean room monitoring."

0.200.00(0.00%)Apr 16 8:10 PMEDT

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