SAN CLEMENTE, CA -- (Marketwire) -- 12/04/12 -- Micro Imaging Technology, Inc. (OTCQB: MMTC) announced that it has received U.S. Patent Office approval of its new trademark Micro Identification Technologies® under which the Company plans to market its innovative Rapid Microbial Identification System, the MIT 1000.
The MIT 1000 is a stand-alone, optically-based, software driven system that can detect pathogenic bacteria and complete an identification test in less than five (5) minutes for pennies per test. According to MIT's President and CEO, Jeff Nunez, "MIT is a California-based public company that is also registered to do business under the name Micro Identification Technologies -- a name that more closely corresponds to the process and results achieved by the MIT 1000. We believe that our corporate image should also advance the concept of our technology and that our new trade name serves to enhance our visibility as well as our sales and marketing efforts."
About: Micro Imaging Technology, Inc.
MIT has developed and patented the MIT 1000, 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 particle-free 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.
You can find more information about our company and about Micro Identification Technologies. Please visit our newly enhanced website at www.micro-identification.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, reference MMTC: www.sec.gov.