SAN CLEMENTE, CA--(Marketwire - October 12, 2010) - Micro Identification Technologies, Inc. (OTCBB: MMTC) (MIT) announces that it will conduct a Webinar later this month on the operation of the MIT 1000 Rapid Microbial Identification System. The objective of the Webinar is to demonstrate the speed and operational simplicity of performing bacteria identification (ID) tests using the MIT 1000 System and to give a brief education on the non-biological light scattering technology that is used to obtain an ID. The Webinar will be conducted by MIT's Chief Technical Officer, Dr. David Haavig and will be open to all of those interested in learning more about the Company's System.
"Using our patented light scattering technology for this application only became economically feasible with the creation of high speed personal computers that are needed to compile and analyze the vast amount of data collected in the ID process. The Webinar will highlight our unique ability to conduct an ID test in less than 5 minutes at a cost of 10 cents per test. These attributes position MIT to contribute significantly to the fight against widespread food contamination events," stated Michael Brennan, MIT's Chairman and CEO. Mr. Brennan further stated, "We expect this Webinar will be well attended by users, potential customers and investors that will further help the Company meet its future expansion objectives."
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
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.