CASTLE ROCK, CO--(Marketwired - Oct 7, 2013) - Where Food Comes From, Inc. (WFCF) (d.b.a. IMI Global, Inc.) (
Under the agreement, Where Food Comes From will conduct verification audits for approximately 1,000 new customers, including cattle ranchers, feedyards and backgrounders that were previously audited by Micro. These audits are expected to result in a new annual revenue stream of approximately $700,000 for Where Food Comes From. In addition, the two companies will collaborate on creating new, leading edge solutions for the beef industry.
John Saunders, chairman and CEO of Where Food Comes From, said, "We are looking forward to working with Micro on initiatives to innovate and integrate new verification programs and advanced management systems that add value to the entire beef supply chain."
About Where Food Comes From, Inc.
Where Food Comes From, Inc. (d.b.a. IMI Global) is America's trusted resource for third party verification of food production practices. The Company supports more than 9,000 farmers, ranchers, processors, retailers and restaurants with a wide variety of value-added services through their IMI Global (IMI) and International Certification Services, Inc. (ICS) verification divisions. In addition, the Company's Where Food Comes From® retail and restaurant labeling program utilizes the verification of product attributes to connect consumers to the sources of the food they purchase through product labeling and web-based information sharing and education. Go to www.wherefoodcomesfrom.com for additional information.
About Micro Technologies
An MWI Company, Micro is a value-added distributor to the production animal market, including the distribution of feed additives, pharmaceuticals, vaccines, parasiticides, supplies, and other animal health products. Micro also is a leading innovator of proprietary, computerized management systems for the production animal market. Micro is headquartered in Amarillo, Texas. http://www.microbeef.com
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward-looking statements are inherently uncertain, and actual events could differ materially from the Company's predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about plans to develop new solutions and initiatives for the beef industry; expectations for 1,000 new customers and $700,000 in new revenue resulting from the Micro transaction; and demand for, and impact and efficacy of, the Company's products and services on the marketplace are forward-looking statements that are subject to a variety of factors, including availability of capital, personnel and other resources; competition; governmental regulation of the agricultural industry; the market for beef and other commodities; and other factors. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update its forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company's business, please refer to the Company's SEC filings at www.sec.gov.