SAN CLEMENTE, CA--(Marketwire - Oct 17, 2012) - Micro Imaging Technology, Inc. (
Each year, the Food Safety Institute of America hosts a conference which provides attendees with information on current and emerging food safety issues, the latest science, innovative solutions to new and recurring problems, and the opportunity to network with thousands of food safety professionals from around the globe. "This conference will be another excellent opportunity to bring the MIT 1000 to the direct attention of the food safety community and those professionals who will embrace the value of our technology and its diagnostic capabilities," stated Jeff Nunez, MIT's Chairman and CEO. "As we expand on our marketing strategy and increase attention on the MIT brand, we anticipate that our product will continue to generate a great deal of interest."
The MIT 1000 is a stand-alone, optically-based, software driven system that can detect pathogenic bacteria and complete an identifying test in less than five (5) minutes for pennies per test. According to MIT's Chief Scientist, David Haavig, PhD, "In the U.S. alone, around 76 million cases of food-borne illnesses, resulting in 325,000 hospitalizations and 5,000 deaths, are estimated to occur each year. The leading cause of these illnesses and deaths are three main strains of bacteria: E. coli, Salmonella, and Listeria. Rapid identification of these disease-causing pathogens in food is critical to the health and safety of all consumers."
The AOAC Research Institute (AOAC RI) awarded the Company in June 2009, Performance Tested Methods SM (PTM) certification for the rapid identification of Listeria. The AOAC RI provides an independent third party evaluation and expert reviews of methods and will award PTM certification to methods that demonstrate performance levels equivalent or better than other certified bacteria identifying methods. The MIT System underwent hundreds of individual tests, including ruggedness and accuracy, to earn AOAC RI's certification for the identification of Listeria.
About: AOAC International and AOAC Research Institute
AOAC INTERNATIONAL is a globally recognized, independent, not-for-profit association founded in 1884. To attain its vision of "worldwide confidence in analytical results," AOAC serves analytical science communities by providing the tools and processes necessary to develop voluntary consensus standards or technical standards through stakeholder consensus and working groups in which the fit-for-purpose and method performance criteria are established and fully documented. The AOAC Research Institute is a subsidiary of AOAC INTERNATIONAL and maintains an up-to-the minute list of certified Performance Tested Methods which have been independently tested, rigorously evaluated and thoroughly reviewed by the AOAC Research Institute and its expert reviewers.
About: Micro Imaging Technology, Inc.
MIT is a California-based public company that has developed and patented a Microbial Identification System that revolutionizes the pathogenic bacteria diagnostic process and can annually save thousands of lives and tens of millions of dollars in health care costs. The MIT 1000 identifies bacteria in minutes, not days, and at a significant per test cost savings when compared to any other conventional method. 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. Revenues for all rapid testing methods exceed $5 billion annually -- with food safety accounting for over $3.5 billion, which is expected to surpass $4.7 billion by 2015 according to BCC Research. In addition, the recently passed "New" U.S. Food Safety Bill is expected to further accelerate the current annual growth rate of 6.6 percent.
This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements are made based upon information available to the Company as of the date of this release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to dependence on suppliers; short product life cycles and reductions in unit selling prices; delays in development or shipment of new products; lack of market acceptance of our new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; inability to expand our operations to support increased growth; and declining economic conditions, including a recession. These and other factors and risks associated with our business are discussed from time to time within our filings with the Securities and Exchange Commission, reference MMTC: www.sec.gov.
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