SAN CLEMENTE, CA--(Marketwire - November 02, 2010) - Micro Identification Technologies, Inc. (OTCBB: MMTC) (MIT) reported that on October 27, 2010 it conducted a well attended Webinar focusing on the technology and operation of the MIT 1000 Rapid Microbial Identification System. The objective of the Webinar was to demonstrate, within a 20 minute timeslot, the speed and operational simplicity of performing bacteria identification (ID) tests and to give a brief tutorial on the non-biological technology that is used to obtain an ID. The Webinar was conducted by MIT's Chief Technical Officer, Dr. David Haavig.
The attendees provided very positive feedback and great participation during the question and answer period and were seemingly impressed with both the technology and simplicity of use of our System as evidenced by a statement from one of the attendees, "I think the 'ease of use' webinar went well. The presentation clearly demonstrated how simply and easy to use the MIT 1000 is, and how nearly foolproof the identification is."
Michael Brennan, MIT's Chairman and CEO, stated that, "Based on the log of the Webinar's attendance there was an excellent turnout from users, major food producers, current and potential investors and numerous worldwide MIT distributors." Mr. Brennan further stated, "We clearly accomplished our objective for this Webinar and consequently, MIT plans to provide future Webinars to update the Company's business and product."
About Micro Identification Technologies:
MIT is a California-based public company that has developed and patented a rapid microbial identification (ID) System that revolutionizes the pathogenic bacteria ID process and can annually save thousands of lives and tens of millions of dollars. The System IDs bacteria in minutes, not days, and at a significant per test cost savings when compared to any conventional method. It does not rely on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. The process is totally GREEN requiring 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 billion -- having expanded at a rate of 9.2 percent annually since 1998. Current growth projections are at 30 percent annually with test demands driven by major health, safety and homeland security issues. www.micro-identification.com
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 has 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 is easily expandable. The identification process has been verified by North American Science Associates, Inc. (NAMSA), an independent, internationally recognized biological testing laboratory. The NAMSA Test Report is available from the Company and, in MIT's opinion, demonstrates the accuracy, speed and cost effectiveness of the System over conventional processes. www.namsa.com
Further, MIT last year completed an extensive evaluation by the AOAC Research Institute which included independent rigorous testing and thorough reviews by the AOAC RI and its expert reviewers, including the U.S. Department of Agriculture. The AOAC certified MIT's system for one strain of bacteria identification -- with others to follow. The Report is available. www.aoac.org
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.