way undervalued and way undiscovered
Posted by g_money on :
this technology is soon to become the "gold standard" for food testing --- Pharma and water are also targeted for this technology. Now that MMTC has the finance package they were looking for to begin production, and they have OSI lined up to produce their machines, I suspect we are only weeks away from some pretty impressive news regarding orders.
Posted by g_money on :
MIT has developed and patented a laser-based technology for rapid microbe detection and identification - going to be big!!
Posted by g_money on :
Micro Identification Technologies Inc. (MIT) (MMTC) is focused on becoming a global leader in developing, supporting and marketing rapid systems and processes that detect and identify microbial organisms. For several years the company has been working on the development of a breakthrough, laser-based microbial identification technology. This technology has been designed to be extremely fast and easy to use while not relying on conventional chemical or biological processing, fluorescent tags, gas chromatography or DNA analysis.
Posted by g_money on :
MIT’s technology has the potential to revolutionize the $5 billion rapid microbial test market by annually saving thousands of lives and tens of millions of dollars. Since 1998, the industry has had an annual expansion of 9.2 percent - with growth projections for 30 percent annually. MIT is well positioned with its cutting-edge microbial technology as demand continues to soar as a result of major health, safety and homeland security issues
Posted by g_money on :
mmtc should have another good day
Posted by g_money on :
MMTC is a good one - could bust out @ anytime
Posted by g_money on :
58mil float nice - this will move fast with any buying pressure
Posted by g_money on :
When the next PR comes out I expect to break back into the 6's for good
Posted by g_money on :
this stock is bit unique because the MIT 1000 device is somewhat revolutionary.
Posted by g_money on :
MIT’s technology has the potential to revolutionize the $5 billion rapid microbial test market by annually saving thousands of lives and tens of millions of dollars. Since 1998, the industry has had an annual expansion of 9.2 percent - with growth projections for 30 percent annually. MIT is well positioned with its cutting-edge microbial technology as demand continues to soar as a result of major health, safety and homeland security issues
Posted by g_money on :
The company’s technology offers significant advantages over today’s methods of microbial detection, including lower cost, rapid results, easier use and the ability to test for multiple bacteria in one process. The system is statistically based and includes a unique MIT Microbe Library of pre-measured light scattering identifiers - or fingerprints - derived from the measurements of tens of thousands of individual microbes for each species and subspecies to be detected.
Posted by g_money on :
MMTC Led By Experienced Management Team
Micro Identification Technologies Inc. is a development stage company whose objective is to become a global leader in developing and marketing rapid systems and processes that detect and identify microbial organisms.
The company has developed a quick, cost-effective way to identify 23 different species of pathogenic bacteria, just mere minutes after completed culturing. It’s all done by laser light that is scattered off bacteria cells suspended in water, creating light patterns that are unique for each bacteria species. For more information on the company, please visit www.micro-imaging.com.
As with any other up-and-coming company, a top-notch management team will be key to its future success. Micro Identification Technologies has a solid management team in place as can be seen below:
David L. Haavig – PhD, Vice-President and Chief Scientist
Dr. Haavig joined the company in May 1998 as director of research and development. He has over 30 years experience in instrument design and computer software with applications in optical measurement and analysis. Prior to joining Micro Identification Technologies, Dr. Haavig was technical director and principal investigator on numerous government programs at McDonnell Douglas and Science Applications International Corporation.
Michael W. Brennan – Chairman and President
Mr. Brennan has spent has over 25 years within the computer industry and participated in the founding of four companies that successfully became publicly-held companies through IPOs. Three of these companies are listed on the NASDAQ – Computer Automation, Interscience and Symmetricom. One company is listed on the London Stock Exchange – Optim.
Victor A. Hollander – Director and Chief Financial Officer
Mr. Hollander was licensed to practice public accounting in California in 1958. In 1965, he established and was the partner in charge of the Los Angeles office of a large New York CPA firm where he specialized in audit and securities matters. In 1978, Mr. Hollander left and formed the accounting firm of Hollander, Gilbert, & Co. In 2002, he joined Weinberg & Company as managing director.
John Ricardi – Executive Vice-President and Chief Operating Officer
Mr. Ricardi brings 30 years of experience in commercializing and developing businesses for high technology products and systems. He most recently served as vice-president and general manager of the Sensor Products Division at JMAR Technologies. At JMAR, Mr. Ricardi led the development and commercialization of the company’s water monitoring system from its conception.
Catherine Patterson – Vice-President and Chief Accounting Officer
Ms. Patterson became the company’s secretary in May 1989 and has also held the position of treasurer from August 1984 to February 1986. She was appointed the company’s chief financial officer in June 1990. Ms. Patterson developed an extensive background in legal and financial capabilities while employed by General Motors.
Geoerge R. Farquhar – CPA Consultant
Mr. Farquhar is a successful executive in finance and general operations and worked for over five years with Price Waterhouse. During the past 30 years, he has served as chief financial officer, chief operations officer as well as president of two corporations, each reporting over $100 million in annual revenues. He has also been employed for over eight years by Micro Identification Technologies.
Posted by g_money on :
closed up 7.3% - nice day yesterday!!
Posted by g_money on :
System Validation
Research Institute Performance Test Method Certification –prerequisite for sales into food protection market –99% accuracy in 55 tests conducted.
North American Science Associates (NAMSA) compared the System to a product used by many diagnostic labs –MIT 1000 98% accuracy vs. Competitor 60% in 1/10th the time.??
USDA evaluated the MIT 1000 for its performance in the identification of Listeria –90% accuracy in 255 tests conducted.
incubation & Preparation Time is 10 - 48 hours Identification Time is 5 minutes Where they excel is in the Identificaton time and Cost/Test
Posted by g_money on :
MIT has demonstrated the ability to detect and identify, within several minutes, the microbes Escherichia coli, Listeria, Salmonella, Staphylococcus aureus, and other pathogenic bacteria. MIT recently performed over 300 tests for the identification of the aforementioned contaminants and scored 95% accuracy. The System can currently identify 23 species of bacteria and its ID capability is easily expanded.
Posted by g_money on :
Form S-1/A.. outlining the details of the funding they received:
Here is a link to the full report recently issued by the Institute of Medicine (IOM) for Congress who asked the IOM to examine the gaps in the current food safety system under the purview of the FDA and to identify the tools needed to improve food safety.
Micro Identification Technologies, Inc. (MMTC.OB) Identifies the “Bugs”
Micro Identification Technologies Inc. has developed and patented a rapid microbial identification system that revolutionizes the pathogenic bacteria ID process. Offering significant advantages over today’s methods of microbial detection, the company’s MIT 1000 Rapid Microbial Identification System can identify bacteria in less than five minutes.
The company’s technology does not rely on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. The MIT 1000 System identifies bacteria with a laser that uses the principle of light scattering with proprietary PC-based software algorithms to test samples at less than $0.10 per test. MIT’s technology can save tens of millions of dollars annually and thousands of lives.
MIT’s primary focus is on food safety where over the past few years a vast amount of food contamination occurrences have been recorded. The Center for Disease Control reports that over 325,000 food contamination events cause 5,000 deaths annually. MIT’s technology can also be used for applications in clinical diagnostics, pharmaceutical and semiconductor processing as well as drinking water testing. The technology is also adaptable to perform identification of the air.
Microbial testing pioneer MIT will pursue each of the various applications for its technology over the next few years. Industry revenues for all rapid testing methods exceed $5 billion annually; of that figure food safety accounts for over $3 billion. Having expanded at a rate of 9.2 percent annually since 1998, current annual growth projections for the industry are at 30 percent, driven by major health, safety and homeland security issues.
Posted by g_money on :
Micro Identification Technologies, Inc. (MMTC.OB) Announces Equity Financing Commitment of Up to $5 Million from Dutchess Capital
Micro Identification Technologies, Inc. today announced that it has secured an equity financing commitment of up to $5,000,000 from a private equity firm, Dutchess Capital through its Dutchess Opportunity Fund, LP. During the 3-year term of this equity commitment, Micro Identification Technologies will be able to sell shares of its common stock to Dutchess Capital up to the total committed amount. Although MIT will be able to determine at its sole discretion the amount and timing of any sales of these shares, the sales are subject to certain conditions which will be provided in an 8-K filing with the SEC.
MIT’s Chief Executive Officer, Michael Brennan, stated, “We are very pleased with Dutchess’ commitment and is one of several financing strategies that will be pursued to accelerate the commercialization of our products and business growth. Dutchess has the track record and experience in the industry and has been a leader of providing equity credit lines for over 10 years which contributed significantly to selecting them as our partner.”
Chris Quin, Dutchess Vice President of business development commented, “We are excited to work with MIT as they continue to execute their business plan, develop further applications and increase market penetration of their laser-based, rapid microbial identification technology.”
Posted by g_money on :
MMTC has the technology and they have the financing - this will be a fun ride - imo
Posted by g_money on :
Micro Identification Technologies, Inc. (MMTC.OB) New MIT 1000 Rapid Microbial Identification Device Constitutes Paradigm-Shift in Food Safety and MRSA Screening
Micro Identification Technologies Inc. is poised to make huge profits in the food safety/healthcare sectors with the release of its new MIT 1000, a system designed to satisfy the growing demand in both industries for a rapid microbial identification solution to prevent food borne illness and provide robust patient screening for Methicillin Resistant Staphylococcus Aureus (MRSA) in hospitals.
In the US alone, there are 76 million cases per year of food borne disease, mostly resulting in 1-2 day illnesses which cause pain and discomfort leading to an overall drop in economic productivity; however, there are an incredible 5,000 deaths each year, and over 325,000 hospitalizations, from contaminated foodstuffs, according to CDC data.
As astounding as this statistical data may seem in this day and age, with all of our advanced technology, yet worse is additional US data from the CDC which indicates an alarming 6-9% annual rise in MRSA contamination, resulting in over 278,000 hospitalizations in 07 alone.
Executive Vice President and COO of MMTC, John Ricardi, sees the MIT 1000 as being able to strike a deathblow to these insidious problems by replacing the current bacterial identification workflow in both food processing and MRSA screening environments, which consists of an inordinately time-consuming, cumbersome and costly process that requires a sizeable sample sent off to a well-equipped lab with a trained microbiologist who can culture and analyze the sample – a process requiring an unacceptably long minimum time span of 48-72 hours (a figure which has remained relatively unchanged for over a century).
The MIT 1000 can complete the same pathogenic bacteria identification workflow process in 10 minutes, a whopping 99.65-99.77% reduction in time. Additionally the system’s functionality and small form factor make it ideally suited to field work, resulting in downstream efficiencies wherever the device is employed.
At 1.25 cubic feet and weighing less than 25lbs. the MIT 1000 is easily portable; instead of a large scraping sent off and cultured in a lab, then examined under the microscope by a trained scientist, anyone with a half-day training can easily operate this device.
Ricardi stated his intention to go after the lucrative Food Processing market first, where he envisions massive growth in demand for testing needs due to the globalization of US food sourcing and mounting pressures for efficiency within the industry itself, citing the increased speed and volume with which “product is moving through the supply chain” as the key factor increasing the number of contamination events.
The MIT 1000 uses a no-reagent process that requires only a small sample placed into the test vial, which is then subjected by the machine to the beam of its high-quality solid-state laser (600 nanometer, 30-45 molecular weight, 100 micron).
The beam strikes the material, and an array of 35 photo detectors surrounding the test vial collect data representing the “light scattering intensities that are generated when a cell intersects the laser beam”. These patterns are then compared, by the computer, to a vast database of such patterns stored in the device which are unique to each species of bacteria.
The patterns are like a fingerprint, and the database is like a library of fingerprints. By comparing the observed patterns from the sample with the library, the system is able to quickly identify bacteria and thus determine contamination in the sample when 10-50 organisms have been successfully fingerprinted.
According to industrial diagnostics industry-leading analyst Strategic Consulting, Inc., the MIT 1000 can do for $0.10/test what would currently cost you $2.85/test from existing rapid ID, with savings attributable to the MIT 1000’s superior design.
Ricardi intends to push the 2Q release of the device via a global manufacturer and distribution network that extends beyond the US into 10 countries, in order to grow sales quickly and make the Company cash flow positive within one year on the success of what is destined to be big hit.
Ricardi also pointed out that beyond MRSA and food contamination, the MIT 1000’s systems could easily be used in multiple other industries like clinical diagnostics, pharmaceuticals, drinking water, and even semi-conductors.
Posted by g_money on :
This stock has the capability of moving to the big boards if adoption of their technology progesses as expected
Posted by g_money on :
check this out:
Cost Saving is huge 1.5 Billion/yr !!!! System offers significant advantages in operating cost and contamination results.
??Results are in less than 10 minutes after culturing.
??Culturing sample size is adequate in one-half the time when compared to conventional identification methods.
??System operating cost is les than $0.10 & uses no reagents or additives.
??System capital cost is much less than other rapid test systems.
??System can presently ID 23 species and is easily expandable.
??MIT 1000 surpasses competition in many critical areas.
??AOAC RI PTM certification achieved with 99% accuracy score enabling sales to food protection market.
FOOD MARKET Annual Number of Biological Tests 630,000,000 Annual Biological Test Revenues 1,650,000,000 Average Cost/Test ($) 2.62 Estimated MIT 1000 Test Cost ($) .10 Potential Annual Savings with MIT 1000 1,587,000,000
Posted by g_money on :
New MIT 1000 Rapid Microbial Identification Device Constitutes Paradigm-Shift in Food Safety and MRSA Screening
Posted by g_money on :
The company’s technology does not rely on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. The MIT 1000 System identifies bacteria with a laser that uses the principle of light scattering with proprietary PC-based software algorithms to test samples at less than $0.10 per test. MIT’s technology can save tens of millions of dollars annually and thousands of lives.
Posted by g_money on :
Micro Identification Technologies Inc. offers something that is entirely unique in the medical world: the only general non-biological system for identifying pathogenic microbes known to exist. They invented it, perfected it, patented it, and now sell it as the MIT 1000. However, the fact that their product is one-of-a-kind is not its most important quality. The most important aspect of the MIT 1000 is what it can do, specifically its remarkable ability to identify various species of pathogenic bacteria in a tiny fraction of the time required by all other traditional identification methods, through the innovative use of laser light.
Posted by g_money on :
Moving Average Indicators
15 Day Trend Bullish 45 Day Trend Bullish 100 Day Trend Bullish MACD Bullish Volume Price Trend Bullish
Posted by g_money on :
big news out today - MMTC future is looking bright!!
Posted by g_money on :
The MIT 1000 is patented, independently tested and is a certified test method for food safety. More importantly, it can annually save thousands of lives and tens of millions in healthcare costs by the rapid identification of pathogenic bacteria and other microbes
Posted by g_money on :
We are on track with this year's goal to begin quantity deliveries in 4Q 2010, but need to increase our system support and microbiological research capabilities in conjunction with supporting the food industry's obvious safety requirements
Posted by g_money on :
the MIT 1000 can do for $0.10/test what would currently cost you $2.85/test from existing rapid ID
Posted by g_money on :
The Company has produced the PC-based MIT 1000 Microbial Identification System in limited quantities over the last year and had several distinguished earlier users, including the U.S. Department of Agriculture ARS, Japanese Ministry of Food Safety, University Putra Malaysia and local contract laboratories. MIT's Chairman added, "The MIT 1000 is patented, independently tested and is a certified test method for food safety. More importantly, it can annually save thousands of lives and tens of millions in healthcare costs by the rapid identification of pathogenic bacteria and other microbes." Mr. Brennan added, "We are on track with this year's goal to begin quantity deliveries in 4Q 2010, but need to increase our system support and microbiological research capabilities in conjunction with supporting the food industry's obvious safety requirements."
Posted by g_money on :
"The MIT 1000 is patented, independently tested and is a certified test method for food safety. More importantly, it can annually save thousands of lives and tens of millions in healthcare costs by the rapid identification of pathogenic bacteria and other microbes.
Posted by g_money on :
MIT has demonstrated the ability to detect and identify, within several minutes, the microbes Escherichia coli, Listeria, Salmonella, Staphylococcus aureus, and other pathogenic bacteria. MIT recently performed over 300 tests for the identification of the aforementioned contaminants and scored 95% accuracy. The System can currently identify 23 species of bacteria and its ID capability is easily expanded.
Posted by g_money on :
MMTC still hasn't caught the attention it deserves.
Posted by g_money on :
'Just heard a news report this morning regarding contaminated ingredients used by J&J in the making of Motrin. The contamination found was bacterial. J&J was found to be lacking in adequate quality control and inadequate documentation. Friends, this is exactly what MMTC can and will address. Has anyone heard when the production line will be up and running with their latest design changes? We may not even get to the stock run we were all looking for --- we may go directly to the buyout phase.'
Posted by g_money on :
good reason to be here->MIT’s technology has the potential to revolutionize the $5 billion rapid microbial test market by annually saving thousands of lives and tens of millions of dollars. Since 1998, the industry has had an annual expansion of 9.2 percent - with growth projections for 30 percent annually. MIT is well positioned with its cutting-edge microbial technology as demand continues to soar as a result of major health, safety and homeland security issues
Posted by g_money on :
Do you have sales contracts already and if so how many? a) Yes, we have received sales contracts but have not publicly disclosed the client or contract value.
Posted by g_money on :
Once MMTC has a contract with a major or decent size Food/Meat distributor ( which I think will happen very very soon ). Others will follow. Having this technology puts you in a competitive advantage with everybody else. You not only save money for each test but a heck of a lot of time.
Posted by g_money on :
MMTC to .20 - .45 in next 3-6 months .45 is a real possibility
Posted by g_money on :
MMTC monster move coming
Posted by g_money on :
Over the last year MIT produced the PC-based MIT 1000 Microbial Identification System in limited quantities and had several distinguished earlier users, including the U.S. Department of Agriculture ARS, Japanese Ministry of Food Safety, University Putra Malaysia and local contract laboratories. MIT’s Chairman stated, “The MIT 1000 is patented, independently tested and is a certified test method for food safety. More importantly, it can annually save thousands of lives and tens of millions in healthcare costs by the rapid identification of pathogenic bacteria and other microbes.” Mr. Brennan added, “We are on track with this year’s goal to begin quantity deliveries in 4Q 2010, but need to increase our system support and microbiological research capabilities in conjunction with supporting the food industry’s obvious safety requirements.”
Posted by g_money on :
In the US alone, there are 76 million cases per year of food borne disease, mostly resulting in 1-2 day illnesses which cause pain and discomfort leading to an overall drop in economic productivity; however, there are an incredible 5,000 deaths each year, and over 325,000 hospitalizations, from contaminated foodstuffs, according to CDC data
Posted by g_money on :
Micro Identification Technologies Inc. offers something that is entirely unique in the medical world: the only general non-biological system for identifying pathogenic microbes known to exist. They invented it, perfected it, patented it, and now sell it as the MIT 1000. However, the fact that their product is one-of-a-kind is not its most important quality. The most important aspect of the MIT 1000 is what it can do, specifically its remarkable ability to identify various species of pathogenic bacteria in a tiny fraction of the time required by all other traditional identification methods, through the innovative use of laser light.
Posted by g_money on :
Interview with John Ricardi, EVP, COO of MMTC, on Ask Mr Wall Street on SNN Radio.
Personally loving this stock. Looking forward to doing a writeup on this stock and telling my many investor friends and my 2k+ twitter following about it soon.
Posted by g_money on :
Once MMTC has a contract with a major or decent size Food/Meat distributor ( which I think will happen very very soon ). Others will follow. Having this technology puts you in a competitive advantage with everybody else. You not only save money for each test but a heck of a lot of time. The Major distributors will need to get on board. I just hope MMTC will be able to support the demand!
Posted by g_money on :
MIT currently has Asian distributors in Vietnam, South Korea, Japan, India and Turkey and plans to add others later this year.
Posted by g_money on :
The company’s technology offers significant advantages over today’s methods of microbial detection, including lower cost, rapid results, easier use and the ability to test for multiple bacteria in one process. The system is statistically based and includes a unique MIT Microbe Library of pre-measured light scattering identifiers - or fingerprints - derived from the measurements of tens of thousands of individual microbes for each species and subspecies to be detected
Posted by g_money on :
In the US alone, there are 76 million cases per year of food borne disease, mostly resulting in 1-2 day illnesses which cause pain and discomfort leading to an overall drop in economic productivity; however, there are an incredible 5,000 deaths each year, and over 325,000 hospitalizations, from contaminated foodstuffs, according to CDC data
Posted by g_money on :
Micro Identification Technologies Inc. (MIT) is focused on becoming a global leader in developing, supporting and marketing rapid systems and processes that detect and identify microbial organisms. For several years the company has been working on the development of a breakthrough, laser-based microbial identification technology. This technology has been designed to be extremely fast and easy to use while not relying on conventional chemical or biological processing, fluorescent tags, gas chromatography or DNA analysis.
Posted by g_money on :
MIT’s technology has the potential to revolutionize the $5 billion rapid microbial test market by annually saving thousands of lives and tens of millions of dollars. Since 1998, the industry has had an annual expansion of 9.2 percent – with growth projections for 30 percent annually. MIT is well positioned with its cutting-edge microbial technology as demand continues to soar as a result of major health, safety and homeland security issues.
Posted by g_money on :
The company’s technology offers significant advantages over today’s methods of microbial detection, including lower cost, rapid results, easier use and the ability to test for multiple bacteria in one process. The system is statistically based and includes a unique MIT Microbe Library of pre-measured light scattering identifiers – or fingerprints – derived from the measurements of hundreds of thousands of individual microbes for each species and subspecies to be detected.
Posted by g_money on :
Micro Identification Technologies Inc. has developed and patented a rapid microbial identification system that revolutionizes the pathogenic bacteria ID process. Offering significant advantages over today’s methods of microbial detection, the company’s MIT 1000 Rapid Microbial Identification System can identify bacteria in less than five minutes.
Posted by g_money on :
MIT’s primary focus is on food safety where over the past few years a vast amount of food contamination occurrences have been recorded. The Center for Disease Control reports that over 325,000 food contamination events cause 5,000 deaths annually. MIT’s technology can also be used for applications in clinical diagnostics, pharmaceutical and semiconductor processing as well as drinking water testing. The technology is also adaptable to perform identification of the air.
Posted by g_money on :
Data from a Centers for Disease Control and Prevention (CDC) report released recently indicates that an astonishing 76 million cases per year of food borne illness arise in the US alone, and while many of these cases merely cause inordinate discomfort or illness for a few days, 325k hospitalizations resulting from serious illness and an unacceptable 5k deaths are created due to a lack of such systems as the MIT 1000.
Posted by g_money on :
GOLDEN CROSS ALERT:
50/200 crossover soon
Posted by g_money on :
As with any other up-and-coming company, a top-notch management team will be key to its future success. Micro Identification Technologies has a solid management team in place
Posted by g_money on :
Michael W. Brennan – Chairman and President
Mr. Brennan has spent has over 25 years within the computer industry and participated in the founding of four companies that successfully became publicly-held companies through IPOs. Three of these companies are listed on the NASDAQ – Computer Automation, Interscience and Symmetricom. One company is listed on the London Stock Exchange – Optim.
Posted by g_money on :
Victor A. Hollander – Director and Chief Financial Officer
Mr. Hollander was licensed to practice public accounting in California in 1958. In 1965, he established and was the partner in charge of the Los Angeles office of a large New York CPA firm where he specialized in audit and securities matters. In 1978, Mr. Hollander left and formed the accounting firm of Hollander, Gilbert, & Co. In 2002, he joined Weinberg & Company as managing director.
Posted by g_money on :
The system works by measuring scattered light intensity as individual microbes pass through a laser beam. The intensity pattern of the scattered light is a direct consequence of the size, shape and external and internal optical characteristics of the microbe. By measuring scattered light at specific angles, MIT’s system detects and differentiates objects the size of bacteria, protozoa, yeasts and molds.
Posted by g_money on :
Micro Identification Technologies Inc. (MIT) (MMTC) is focused on becoming a global leader in developing, supporting and marketing rapid systems and processes that detect and identify microbial organisms. For several years the company has been working on the development of a breakthrough, laser-based microbial identification technology. This technology has been designed to be extremely fast and easy to use while not relying on conventional chemical or biological processing, fluorescent tags, gas chromatography or DNA analysis.
Posted by g_money on :
The company’s technology offers significant advantages over today’s methods of microbial detection, including lower cost, rapid results, easier use and the ability to test for multiple bacteria in one process. The system is statistically based and includes a unique MIT Microbe Library of pre-measured light scattering identifiers - or fingerprints - derived from the measurements of tens of thousands of individual microbes for each species and subspecies to be detected.
Posted by g_money on :
MIT’s technology has the potential to revolutionize the $5 billion rapid microbial test market by annually saving thousands of lives and tens of millions of dollars. Since 1998, the industry has had an annual expansion of 9.2 percent - with growth projections for 30 percent annually. MIT is well positioned with its cutting-edge microbial technology as demand continues to soar as a result of major health, safety and homeland security issues
Posted by g_money on :
Micro Identification Technologies Inc., pioneering creator of the world’s only non-biological system for identifying pathogenic microbes – one of the most unique and promising developments in recent medical history, is guided by an equally remarkable board of directors.
Posted by g_money on :
Michael W. Brennan
The company’s Chairman and President, Mr. Brennan has over 25 years in the computer industry, and participated in the founding of four publicly held companies (three currently on NASDAQ). With a B.S. in Electrical Engineering from USC, and an MBA from Pepperdine, he is also an adjunct faculty member for the University of Phoenix.
Posted by g_money on :
Victor A. Hollander
In his role as Director and Audit Committee Chairman, Mr. Hollander makes use of his extensive professional accounting experience. First licensed to practice public accounting in California in 1958, he soon established the Los Angeles office of a large New York CPA firm where he specialized in audit and security matters. He then formed his own accounting firm, and later joined Weinberg & Company as Managing Director of the West Coast Group.
Posted by g_money on :
Ralph W. Emerson
As company Director, Mr. Emerson has product R&D affiliations with some of the world’s leading biotech firms, and has held academic and research positions at the UC Irvine Medical School and UC Davis. He is a noted microbiologist, with the development of numerous patented products. He is president of Emovations Science & Technology, a partner in FREM Biosciences, and a director of the Kary Mullis Research Foundation as well as Altermune, Inc. He is also a Fellow at Harvard University.
Posted by g_money on :
Anthony M. Frank
Mr. Frank, a majority shareholder of MIT, is a former Postmaster General, as well as Chairman of the Board and CEO of First Nationwide Bank, the 2nd largest consumer banking operation in America. He also serves on the boards of Charles Schwab & Co., and Transamerica Corporation
Posted by g_money on :
Over the last year MIT produced the PC-based MIT 1000 Microbial Identification System in limited quantities and had several distinguished earlier users, including the U.S. Department of Agriculture ARS, Japanese Ministry of Food Safety, University Putra Malaysia and local contract laboratories. MIT’s Chairman stated, “The MIT 1000 is patented, independently tested and is a certified test method for food safety. More importantly, it can annually save thousands of lives and tens of millions in healthcare costs by the rapid identification of pathogenic bacteria and other microbes.” Mr. Brennan added, “We are on track with this year’s goal to begin quantity deliveries in 4Q 2010, but need to increase our system support and microbiological research capabilities in conjunction with supporting the food industry’s obvious safety requirements.”
Posted by g_money on :
The House recently approved the first major changes to food-safety laws in 70 years, giving broad new authority to the Food and Drug Administration (“FDA”) to regulate the way food is grown, harvested, processed and delivered — The Food Safety Bill. The Washington Post noted, “These actions follow a wave of food-borne illnesses over the past three years, involving products as varied as spinach, peanuts, cookie dough and meat, which has shaken consumer confidence and made the issue a priority for congressional leaders and the White House. Food illnesses sicken one in four Americans and kill 5,000 each year, according to government statistics. Tainted food has cost the food industry billions of dollars in recalls, lost sales and legal expenses. Under the legislation, the FDA will get new enforcement powers and be able to impose beefed-up civil and criminal penalties. One provision allows the FDA to declare food ‘adulterated’ simply if the grower or manufacturer has failed to follow safety standards, regardless of whether the food is actually tainted.”
Posted by g_money on :
i wonder if the MIT 1000 could have identified the problem before the meat was shipped out?
Micro Identification Technologies Inc. offers something that is entirely unique in the medical world: the only general non-biological system for identifying pathogenic microbes known to exist. They invented it, perfected it, patented it, and now sell it as the MIT 1000. However, the fact that their product is one-of-a-kind is not its most important quality. The most important aspect of the MIT 1000 is what it can do, specifically its remarkable ability to identify various species of pathogenic bacteria in a tiny fraction of the time required by all other traditional identification methods, through the innovative use of laser light.
Posted by g_money on :
$$$ COMING SOON LOOK WHAT THE CHAIRMAN SAID $$$
Do you have sales contracts already and if so how many? a) Yes, we have received sales contracts but have not publicly disclosed the client or contract value.
Posted by: Quickinvestmentss Date: Tuesday, June 15, 2010 12:37:08 AM
Posted by g_money on :
MIT’s technology has the potential to revolutionize the $5 billion rapid microbial test market by annually saving thousands of lives and tens of millions of dollars. Since 1998, the industry has had an annual expansion of 9.2 percent - with growth projections for 30 percent annually. MIT is well positioned with its cutting-edge microbial technology as demand continues to soar as a result of major health, safety and homeland security issues
Posted by g_money on :
read these posts from the past week alone (Links provided for full articles):
Posted: 4:48 p.m. Friday 6/25/10 Spinach recall expands Raleigh, N.C. — The North Carolina Department of Agriculture and Consumer Services expanded a recall of bagged spinach Friday after the presence of bacteria was detected in product samples. http://www.wral.com/lifestyles/food/story/7857005/
June 25, 2010, 4:36 PM EDT Kellogg Recalls 28 Million Boxes of Breakfast Cereals In January, Kellogg was ordered by the FDA to improve sanitation controls at an Atlanta plant. The FDA letter, made public on the regulator’s website the following month, came after Eggo buttermilk waffles were found to be contaminated with Listeria bacteria. http://www.businessweek.com/news/2010-06-25/kellogg-recalls-28-million-boxes-of- breakfast-cereals.html
Updated: June 20, 2010 01:52 AM EDT Spaghettio's Recall - Undercooked Meatballs and Pasta Can Make You Sick Yet, another recall has been established in the food industry. This time by Campbell's , whose Spaghettio's products, cooked in a giant cooker in a factory, malfunctioned and left their pastas and meatballs undercooked. Appetizing as Spaghettio's is, eating anything from a can can't be very nutritious or safe for you anyway. A lot of preservatives are added to the food to keep it from spoiling and developing bacteria while sealed up. If the can is contorted in any way, or if you open a can of soup and it smells weird, bacteria has been breeding in there. http://food.gather.com/viewArticle.action?articleId=281474978311817
June 24, 2010 7:13 AM EDT South Gate, Crown I recall E.Coli-affected hamburger beef South Gate recalled 35,000 pounds of ground beef produced between June 7 to June 21, 2010. The beef was primarily supplied to facilities in Los Angeles and Orange County, California while Crown I Enterprises recalled 3,700 pounds of ground beef produced during June 11 to June 15, 2010 and shipped to food service institutions in Connecticut., New Jersey and New York. The issue was identified when a routine recalls check conducted by FSIS turned positive for E.Coli test. http://www.ibtimes.com/articles/30480/20100624/hamburger-ground-beef-recalled.ht m Posted by g_money on :
these companies should have employed the MIT 1000 - they could have saved themselves a lot of money:
Micro Identification Technologies Inc. offers something that is entirely unique in the medical world: the only general non-biological system for identifying pathogenic microbes known to exist. They invented it, perfected it, patented it, and now sell it as the MIT 1000. However, the fact that their product is one-of-a-kind is not its most important quality. The most important aspect of the MIT 1000 is what it can do, specifically its remarkable ability to identify various species of pathogenic bacteria in a tiny fraction of the time required by all other traditional identification methods, through the innovative use of laser light.
Posted by g_money on :
it's a $5 billion market
MIT’s technology has the potential to revolutionize the $5 billion rapid microbial test market by annually saving thousands of lives and tens of millions of dollars. Since 1998, the industry has had an annual expansion of 9.2 percent - with growth projections for 30 percent annually. MIT is well positioned with its cutting-edge microbial technology as demand continues to soar as a result of major health, safety and homeland security issues