SAN CLEMENTE, CA--(Marketwire - March 17, 2011) - Micro Imaging Technology, Inc. (
Several Biotek executives, including Director Weng Cheong Fong, visited MIT's laboratories earlier this week for additional training and during the session committed to accepting five MIT 1000 Systems by late summer and ten additional units early in 2012.
Biotek is a premier distributor in the food protection market and distributes products that are complementary to the MIT 1000 Rapid Microbial Identification System. "Our sales strategy is to demonstrate the features and benefits of this System in typical applications enabling prospective clients to immediately understand its value. We have found this approach produces much faster sales than other traditional methods," stated Biotek's W.C. Fong -- who further stated, "We are pleased to add the MIT 1000 System to our product portfolio. Its rapid test time coupled with its low operating cost is attractive to many of our customers."
"Adding Biotek to our distribution network provides MIT with sales channels throughout the major countries in Asia. MIT already has distributors in China, Taiwan, South Korea, Japan, and Vietnam," stated Michael Brennan, MIT's Chairman. Further, "Biotek has the capability of measuring and adding bacterial identities that are indigenous to their region and have committed to expand the ID capacity of the MIT 1000 System -- which is very exciting for us."
About Biotek, Sdn, Bhd:
Biotek is registered with the Registrar of Companies in Malaysia and with the Malaysian Ministry of Finance. It is fully owned by Focus Biotech Sdn Bhd which has numerous customers in the research, government and commercial sectors. The company's main focus is in sales, marketing and distribution of research and scientific products for the ASEAN countries (namely Malaysia, Singapore, Thailand, Brunei, Indonesia, Philippines, Vietnam, Cambodia, Laos and Myanmar). It is determined to be one of the best biotechnology companies serving the ASEAN countries. Biotek has facilities in Malaysia and Singapore that include demonstration, training and application laboratories for life sciences, biotechnology and clinical diagnostic applications. www.focusbiotech.com.my
About Micro Imaging Technology:
MIT is a California-based public company that has developed, patented and now in production of 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 health care dollars. The MIT 1000 System can ID 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 $3.5 billion which is expected to exceed $4.7 billion by 2015 according to BCC Research. In addition, the recently passed U.S. Food Safety Bill is expected to increase the current annual growth rate (CAGR) to over 6.6 percent.
MIT previously completed an extensive evaluation by the AOAC Research Institute which included rigorous independent testing and thorough examinations by the AOAC RI and its expert reviewers, including the U.S. Department of Agriculture. The AOAC RI Report is available from the Company.
Further, 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 is easily expandable. The identification process has also been verified by North American Science Associates, Inc. (NAMSA), an independent and internationally recognized bioscience 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. For further information visit MIT's web site 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.
Contact Information:
CONTACT:
Michael Brennan
Chairman
Email:
Telephone: (805) 557-0614