Archive for the ‘Micro Identification Technologies Inc. MMTC’ Category

Fast Moving Approval of Food Safety Bill Seen as Boost for Micro Identification Technologies, Inc. (MMTC.OB)

Friday, December 10th, 2010

When some of the biggest companies in the food industry started lining up in support of food safety legislation that is now going through Congress, it helped ensure uncharacteristically rapid progress, and was lauded by consumer groups as a solid step in the right direction. Skeptics were quick to point out, however, that the latest version of the bill would do little to affect procedures for these larger companies, and would simply put increased pressure on their smaller competitors to get up to speed. Nevertheless, it’s seen as a win for the American public in the face of a string of food recalls and contamination scares, and represents the biggest change to food regulation in decades.

Perhaps the biggest winners are companies like Micro Identification Technologies, who are in the bacteria identification business and specifically target the food industry. The legislation calls for a number of upgrades in inspection policy, plus gives the government the authority to issue mandatory recalls, a power it has not had before.

Any increased pressure on the food industry is seen as a boost for Micro, which offers the only automated bacteria identification system in the world, the MIT1000. The system uses reflected laser light and complex pattern recognition software to quickly identify harmful bacteria wherever it occurs. The speed and cost savings represented by the new technology is seen as perfectly timed for the current safety and cost conscious environment.

Although the U.S. is considered one of the safest places in the world to buy foods, the sheer volume of food being processed and handled has led to a growing number of food recalls. There are now recalls every month, some minor and some posing serious health risks. One of the biggest problems is that the food is often out the door and into the hands of consumers before the problem is spotted. It’s one of the things that has spurred companies like Micro Identification Technologies to focus on developing faster ID processes that are easier to implement and are cost effective. The new legislation is seen as making the demand for products like this greater than ever.

For more information on Micro Identification Technologies, visit www.Micro-Identification.com

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Micro Imaging Technology, Inc. (MMTC.OB) CEO Michael W. Brennan Interviewed by The Wall Street Transcript

Thursday, December 2nd, 2010

Today, The Wall Street Transcript (TWST) announced the publication of its Medical Research, Diagnostic Substances & Life Science Tools Report, which offers a comprehensive review of the sector to investors and industry executives. The special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers.

Companies include: AstraZeneca (NYSE: AZN); Lab Corp. (NYSE: LH); Medtronic (NYSE: MDT); Abbott (NYSE: ABT); Agilent (NYSE: A); Alexion (NASDAQ: ALXN); Allscripts (NASDAQ: MDRX); Alnylam (NASDAQ: ALNY); Amerisource (NYSE: ABC); Amylin (NASDAQ: AMLN); Array (NASDAQ: ARRY); Beckman Coulter (NYSE: BEC); Biogen (NASDAQ: BIIB); Bruker Corporation (NASDAQ: BRKR); CVS Caremark (NYSE: CVS); Cardinal (NYSE: CAH); Catalyst Health Solutions (NASDAQ: CHSI); and many more.

TWST provided a brief excerpt of the in depth interview conducted with Michael W. Brennan, Chairman and president of Micro Imaging Technology, Inc. During the interview, Mr. Brennan discussed the outlook for his company for investors.

The excerpt is provided below:

TWST: Briefly, what does the technology do?

Mr. Brennan: It has a capability of identifying any microbe, which includes all bacteria – fungi, spores, mold and anything that’s in the microbe range. The bacteria family is the largest family of living organisms in the world. Some are good and some are very bad. We have proven through two world-renowned independent testing laboratories that we have that capability, and we’ve been certified by the only certifying body in the world, AOAC, that these tests are almost instantaneous and at an unbelievably low cost per test. When I say almost instantly, we’ve proven that we can do a bacteria test within five minutes of getting a sample, and it’s somewhere in the order of only $0.10 a cost per test.

So those are the quantitative components that we’re bring to the market. And we absolutely believe that our technology can save thousands of lives and multimillion dollars in health care costs by identifying pathogenic bacteria within our target market, food safety and health protection. Every time you pick up the paper, you see about the beef, lettuce, pepper, peanut and all other food product recalls. All of those things are contaminated by basically three bacteria: E. coli, salmonella and listeria. That’s 90%-plus of all the pathogens, and food safety is our immediate focus. As I mentioned, we are certified for listeria and in the process of getting E. coli and salmonella done probably by early next year.

We had a very good Webinar presentation recently. The whole point was to show how simple it is to use the system. You take a sample of your unknown, the bacteria suspected, all identification processes start similarly – although, most take days and costs hundreds of dollars. With ours, you take a sample of what your suspected pathogen is, put it in a little testing vial with clean water, put it in our system, hit a button on the PC console, it says “identified.” Within much less than five minutes, it will tell you the identification of the bacteria you’re looking for, or if it’s none of those, it will tell you “none”. It’s really that simple. We took everybody from start to finish yesterday in this Webinar in probably 15 minutes, and it takes us less than half a day to train a lab technician to be able to fully use and understand our system.

So where do we stand right now? It was a long process, because we have the hardware, which is elegant and is being manufactured for us by a world-class manufacturing organization. We have software that we developed in conjunction with California Institute of Technology, Caltech. Then we have laboratory procedures, and then we have the certification of the outside labs. For a small company, those are really ambitious projects or programs. Where we’re at right now is at the final stages of getting the product built by a world-class manufacturer company, a company called OSI Systems (OSIS). From a hardware point of view, the systems are really simple. But the whole concept, we think, is revolutionary.

It is a huge marketplace and rapidly growing. The number of food products that had been recalled just in the past year is amazing. There is another submarket that the people aren’t even aware of, and that’s food products for animals. The important part is our government. Although it’s talked a lot about doing some regulation, when it comes to food products, there is no real, true regulation. There was a big article last week about Texas closing down a food processing plant in San Antonio that was responsible for putting out contaminated chopped vegetables that have killed six people over the last few months, and had been traced to that company. But there is no real government regulation that says, “This is what you should do with your product before you put it out to the public.”

If you add all that together, we are really seriously talking about a worldwide marketplace that is $8 billion to $10 billion just for testing annually. At the moment we have very few systems installed, a system with U.S. Department of Agriculture, USDA, at the Japanese Ministry of Food Safety, several systems in Malaysia for their food safety people and in some independent laboratories, where food processors send their product for testing.

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Christmas Comes Early for Micro Identification Technologies, Inc. (MMTC.OB)

Wednesday, December 1st, 2010

In what must seem like an early Christmas gift for Micro Identification Technologies Inc. (MMTC.OB), the U.S. Senate passed legislation Tuesday significantly increasing the ability of the government to put pressure on food processors and importers for safer food. Although the Senate bill has a number of limitations, and still faces uncertain prospects in the House, it represents a major push for more inspections, spurred by the recent spate of food contamination recalls.

Micro Identification Technologies, creator of the world’s first and only automated bacteria identification system, the patented MIT1000, has already been lining up funding and resources for production and marketing in preparation for increased demand. Their one-of-a-kind system, based on laser light and advanced pattern recognition software, dramatically cuts the time and cost involved in accurately identifying a variety of pathogenic bacteria. Though the system can be used in a wide range of environments and applications, their initial target is the food processing industry.

The Senate bill applies largely to fruits and vegetables and requires major players in the food chain to create detailed food safety plans. The FDA would create new safety regulations, including tougher standards for imports, and could require the recall of tainted foods, versus simply pressuring businesses to do voluntary recalls. The bill would also greatly increase required inspections of domestic and foreign food facilities.

All of this plays perfectly for MIT, which offers an automated way for inspections to be completed quickly and on-site at a cost far below traditional approaches. It is estimated that revenues for such rapid testing methods have expanded at an annual rate of over 9% since 1998, and already exceed $5 billion annually, figures that could easily be surpassed when or if the Senate bill becomes law.

For more information, visit www.micro-identification.com

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Micro Identification Technologies, Inc. (MMTC.OB) Led by Highly Competent Management Team

Tuesday, November 23rd, 2010

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.

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.

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Micro Identification Technologies, Inc. (MMTC.OB) Invention to Take Industry by Storm

Tuesday, November 16th, 2010

Micro Identification Technologies Inc. offers something that is entirely unique in the medical world: the only general non-biological system for identifying pathogenic microbes. 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.

The standard microbe identification method requires samples being taken, followed by a lengthy culturing process to get enough growth so that a trained medical professional can evaluate and identify the microbe or that other tests can be performed. This often requires shipment to an outside laboratory that maintains the needed equipment and personnel. Final results may not be available for days, reducing the ability to take the timely action necessary to curb the infection.

With the MIT 1000, only a small sample of microbes is required, greatly reducing the time required for culturing. The microbes are illuminated using laser light, and the patterns from the reflection of the light is detected and analyzed by the company’s proprietary software. Identification is fast, automated (not requiring the availability of costly trained medical personnel), and highly cost-effective. This means faster results, broader deployment, and, ultimately, the saving of countless lives around the world. It’s truly a revolution in health technology, and one that is finally available to the general market.

In addition to its speed and cost effectiveness, independent testing has shown the technology to be more accurate than traditional methods. North American Science Associates, Inc. is one of the world’s leading independent laboratories specializing in the evaluation of medical devices. In tests comparing the new approach to the conventional “MIDI” method of identification, the results were clear. The conventional approach yielded a correct identification score of no more than 80%, in spite of repeated trials, compared to the laser approach score of 98%. And, of course, the laser approach was far quicker and easier.

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Micro Identification Technologies Inc. (MMTC.OB) Offers the Best Cure

Tuesday, November 9th, 2010

There’s an old, if arguable, adage about cancer: Virtually every case of cancer could be cured if it was identified at an early enough stage. The theory is that, if we somehow knew exactly where those first few cancerous cells were, before they had a chance to grow and spread, doctors could simply go in and remove them – end of story. The problem, of course, is that cancer cells are sneaky, staying well under the radar, at least during initial development. There is yet no quick and easy way to identify the wide range of incipient cancerous cells that can target the human body. By the time they are discovered, it can take a major effort to turn things around before it’s too late.

Much the same thing can be said of infectious diseases, such as those caused by pathogenic bacteria that kill millions of people throughout the world each year, including the U.S. Pathogenic bacteria routinely spread from small initial sources to create large scale contaminations, affecting the surfaces we touch, the food we eat, and the air we breath. In today’s global environment, bacteria can and do jump from one side of the planet to the other in the time it takes for a jet plane flight. Food of all types is rapidly distributed around the world, coming into contact with machinery and handlers at every stage. At the same time we use sophisticated chemical warfare to suppress and contain bacterial threats, we are creating more opportunities for potentially deadly contaminations to spread. In spite of the progress made in various aspects of food handling, approximately 5,000 people die every year from food-borne illnesses in the U.S. alone.

Ironically, bacterial contaminations can usually be easily dealt with outside the body. But once the contamination becomes an internal infection, a whole new set of rules comes into play. Simple chemicals used outside the body cannot be used inside the body. And the antibiotics we depend on for internal use are facing stubborn resistance from increasingly robust bacteria. As with cancer, early discovery and identification is the key. But traditional methods for detecting and identifying such bacteria can take days, requiring lengthy culturing and a professional evaluation. The time and cost involved can easily discourage the kind of steps that could spot isolated threats before they become widespread problems.

The single best answer could well be a revolutionary technology developed by a company out of California called Micro Identification Technologies Inc. What they’ve got is no less than the world’s only non-biological automated system for accurately and objectively identifying potentially dangerous bacteria. Called the MIT 1000, they system uses laser light, scattered off of extremely small target samples, together with sophisticated proprietary software, to immediately identify up to 23 species of bacteria. Culture time is cut in half, and, with no need for sending samples off to expensive labs, test costs are reduced by a whopping 95%.

The system has already been used by the U.S. Department of Agriculture and the Japanese Ministry of Food Safety, and the company has recently arranged a $5 million equity placement agreement with Boston-based Dutchess Capital, in addition to a separate securities purchase agreement. With current growth projections for rapid testing methods at 10.2% annually, expected to reach $6.2 billion by 2013, they’ve also already lined up national and international production with OSI Optoelectronics.

For more information, visit www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) Reports Success of the MIT 1000 Webinar Presentation

Tuesday, November 2nd, 2010

After the closing bell today, Micro Identification Technologies, Inc. reported the results of its well attended Webinar focusing on the technology and operation of the MIT 1000 Rapid Microbial Identification System. The purpose of the Webinar was to demonstrate the speed and operational simplicity of performing bacteria identification (ID) tests as well as 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.

Providing very positive feedback and great participation during the question and answer period, the attendees were seemingly impressed with both the technology and simplicity of use of the 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, commented, “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 added, “We clearly accomplished our objective for this Webinar and consequently, MIT plans to provide future Webinars to update the Company’s business and product.”

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Micro Identification Technologies, Inc. (MMTC.OB) Announces New Upcoming Webinar

Monday, October 25th, 2010

Micro Identification Technologies, Inc. announced this morning that on Wednesday of this week at 1:00 PM PDT (4:00 PM EST) it will conduct a Webinar 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 for identification.

Those interested may register for the event at: https://www3.gotomeeting.com/register/183951526.

Michael Brennan, MIT’s Chairman and CEO, stated that “Based on feedback from current users and investors regarding our last Webinar, MIT plans to provide periodic Webinars to update the Company’s business and product achievements.” Mr. Brennan added, “We are certain the attendees at our upcoming Webinar will be impressed with both the technology and simplicity of use of our System.”

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Micro Identification Technologies, Inc. (MMTC.OB) Continues with Strategic Expansion

Monday, October 18th, 2010

Micro Identification Technologies Inc., creators of the MIT 1000 automated bacteria identification system, continues to move forward with its strategic plans for development, marketing, and production. The company has already been successful in lining up funding, a key first step in their staffing and marketing efforts. In addition, they’re in the process of readying production in preparation for increased demand.

To date, there have been three primary developments:

• MIT has successfully arranged a $5 million equity placement agreement with Boston-based Dutchess Capital, through its Dutchess Opportunity Fund. Among other things, this allows the company to expand its professional and scientific staff.
• MIT has entered into a separate securities purchase agreement with a privately held New York investment banking firm. The agreement calls for an 8% note, undisclosed amount, set to mature on May 18, 2011.
• As the one-of-a-kind technology gains attention around the world, the company also wants to be in position to ramp up production. To this end, MIT has developed an alliance with OSI Optoelectronics, a subsidiary of OSI Systems (NASDAQ: OSIS), to produce the MIT 1000. OSIO has production facilities in California, Malaysia, and India, and all of their facilities are ISO 9001:2000 certified, FDA registered, and GMP compliant.

Demand is expected to grow rapidly and steadily, due to the fact that the MIT 1000 dramatically reduces the time and cost involved in identifying potentially harmful bacteria. It’s the only system of its kind in the world. With increased calls for food safety, revenues for rapid testing methods have expanded at an annual rate of over 9% since 1998, and already exceed $5 billion annually. Current growth projections are at 10.2% annually, expected to reach $6.2 billion by 2013. The MIT 1000 has already been used by the U.S. Department of Agriculture and the Japanese Ministry of Food Safety.

For more information, visit www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) Announces Upcoming Webinar Demonstrating the Ease of Use and Efficiency of Its Flagship Product

Tuesday, October 12th, 2010

Micro Identification Technologies, Inc. announced before the opening bell this morning that it will conduct a Webinar later this month. The Webinar will demonstrate the speed and operational simplicity of performing bacteria identification (ID) tests using the MIT 1000 System as well as give a brief overview of the non-biological light scattering technology used. The Webinar will be conducted by MIT’s Chief Technical Officer, Dr. David Haavig and will be open to anyone 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,” commented Michael Brennan, MIT’s Chairman and CEO.

Mr. Brennan added, “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.”

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Micro Identification Technologies, Inc. (MMTC.OB) Has a Long History

Thursday, October 7th, 2010

Micro Identification Technologies Inc. has made headlines as creator of the world’s only non-biological automated system for identifying bacteria, the MIT 1000. Few people, however, are aware of just how the company was formed. MIT has, in fact, a long history leading up to its groundbreaking invention.

Micro Identification Technologies has its roots in a company called Electropure Inc., a producer of advanced water purification systems. Electropure was founded in 1972, and eventually went public in 1987. In 1998 the company formed a division called Laserpure, which would ultimately became Micro Imaging Technology (MIT). In 2000, Electropure created two wholly owned subsidiaries, Electropure EDI and MIT. The first subsidiary, EDI, manufactured ultrapure water systems, while MIT focused on developing a pathogen identification system.

In 2005, Electropure’s management decided to concentrate on the promising pathogen ID technology, and sold the EDI subsidiary to a California based company called Snowpure. At that time, a new board of directors was formed and the company name was officially changed to Micro-Imaging Technology. In addition, a Science Advisory Board was formed that included:

• Ralph Emerson, a noted microbiologist who has held academic and research positions at UC Irvine Medical and UC Davis
• Kary Mullis, a Nobel Prize Winning Chemist, who invented PCR
• Edward Ackerman, a senior scientist at Pacific Northwest Labs

In 2010, the company name was finally changed to Micro Identification Technologies, to better reflect the applications of its technologies.

Today, the MIT 1000 is seen as a revolution in bacterial identification, replacing complex and expensive biological processing with a fully automated process based upon unique microbial patterns generated by reflected laser light. The patterns are quickly and automatically analyzed by advanced software to produce a highly accurate reading in just minutes, from a very small bacterial sample.

For more information, visit www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) Receives Additional Funding

Wednesday, September 29th, 2010

Micro Identification Technologies Inc., creator of the MIT 1000, the world’s first and only non-biological automated system for identifying bacteria, announced today that it has entered into a securities purchase agreement with a privately held New York investment banking firm.

The terms of the agreement call for an 8% note set to mature on May 18, 2011. In addition, the note is convertible into common shares, in total or in part, prior to the maturity date, commencing 180 days following the date of the note. The company will be hosting a Webinar 9/29/10 at 4:00 PM EDT (1:00 PDT) to provide information regarding its current business plans.

This funding is in addition to the recent announcement of an equity financing commitment from Dutchess Capital. MIT expects to receive more funding from this or other firms in upcoming months as part of an effort to accelerate a planned production launch and marketing campaign later this year. MIT’s Chairman and CEO, Michael Brennan, stated, “This funding will significantly help MIT achieve its near term goals and, together with expected future funding, will enable MIT to exceed its short and medium term plans.”

The MIT 1000 effectively revolutionizes bacterial identification by replacing traditional requirements for biological processing and subjective evaluation with a quick and totally automated process that produces results in minutes, versus days. Instead of using complex chemical or biological agents, fluorescent tags, gas chromatography, or DNA analysis, the MIT 1000 uses the unique patterns generated by reflected laser light from a small sample of the bacteria. The patterns are analyzed by the company’s software to provide a quick and accurate identification, and at a far lower cost.

For more information, visit www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) to Host Business Update Webinar

Monday, September 27th, 2010

Micro Identification Technologies, Inc., creator of an advanced rapid microbial identification system, announced this morning that it will host a 30 minute Webinar later this week on Wednesday, September 29, 2010 at 1:00 pm (PDT), 4:00 pm (EDT). During the Webinar, John Ricardi, MIT’s Executive Vice President, will provide a general Business Update to current and prospective customers and investors. After the presentation, an open question and answer session with MIT’s staff, including its Chairman and CEO, Michael Brennan, will take place.

Those interested in participating may register for this Event at https://www3.gotomeeting.com/register/427693966. The session will be recorded and placed on MIT’s website for those who are unable to attend at the appointed time. If you are having trouble registering or would like more information, please contact Micro Identification Technologies at info@micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) Moves Towards Meeting Its Goals

Tuesday, September 21st, 2010

Micro Identification Technologies Inc. has developed, patented and is producing a rapid microbial identification system that may revolutionize the $5 billion microbial test industry. The primary use for the company’s technology is in the food safety industry, which is a $3 billion market. MMTC has multiple prominent customers, including the US Department of Agriculture and the Japanese Ministry of Food safety.

The company believes its system can annually save thousands of lives and millions of health care dollars and has good reasons to back up its belief. Its MIT 1000 system identifies bacteria in minutes, not days, and at significant cost per test savings when compared to any conventional method. Its system is not reliant on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. It only requires clean water and a sample of the unknown bacteria.

In order to meet the growing demand for rapid, accurate microbial detection, Micro Identification Technologies recently entered into a three-year $5 million equity agreement with private equity firm Dutchess Capital. Chris Quin, Dutchess Vice President of business development, recently exclaimed the company’s excitement to work with MIT as they execute their business plan, develop further applications and increase market penetration.

Micro Identification Technologies has also made significant manufacturing progress since its initiation of a manufacturing alliance with OSI Optoelectronics, a subsidiary of OSI Systems, to produce the MIT 1000 system. The company is predicting that quantity deliveries of its MIT 1000 systems will begin by the end of the year. The systems will initially be built in OSI Optoelectronics’ California facilities, but as volume increases, fabrication will move to one of OSI’s overseas facilities in either India or Malaysia. This will enable the company to improve future profit margins.

For further information on Micro Identification Technologies, please visit the company’s website at www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) Production Start-Up Plans Remain On Track

Tuesday, September 14th, 2010

Micro Identification Technologies, Inc. announced today that its MIT 1000 System remains on track to begin production later this year. According to the press release, critical sub-system electronics have been successfully tested and the remaining tasks present no additional challenges for MIT and its contract manufacturer, OSI Optoelectronics, a subsidiary of OSI Systems (NASDAQ: OSIS).

In the release, the company also noted that 8,500 pounds of beef were recently recalled due to E.coli contamination. The strain of E.coli causing the contamination was a shiga toxin-producing E.coli (STEC) known as E.coli O26 that many people believe should be classified as an adulterant (contaminant). Food Safety and Inspection Service (FSIS) Chief, Dr. Elisabeth Hagen stated to the New York Times, “If E. coli O157:H7 is an adulterant because it can kill your child, then other non-O157 STECs (like O26, O45, O103, O111, O121, and O145) that cause 36,700 illnesses, 1,100 hospitalizations and 30 deaths in America each year, should be adulterants as well.” The MIT 1000 has the capability to identify various bacterial strains and will have the non-O157 STEC’s added to its ID library in 2011.

“MIT is poised to be an important contributor to reducing future food contamination events as witnessed by the numerous MIT 1000 inquiries from prospective customers following the recent egg recall due to Salmonella and the aforementioned beef recall,” stated Michael Brennan, MIT’s Chairman and Chief Executive Officer. Mr. Brennan further stated, “The MIT 1000 System’s ability to conduct an ID test in under 5 minutes for less than 10 cents classifies it as both a rapid and economical ID test that may enable food processors to confirm a food contamination event before widespread distribution has occurred.”

MIT also announced plans to host a webinar later this month to provide a more detailed update of its current status, system and plans.

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Micro Identification Technologies, Inc. (MMTC.OB) Continues Overseas Expansion

Monday, September 13th, 2010

Micro Identification Technologies Inc., developer of the MIT 1000 pathogen identification system, the world’s only non-biological automated system for identifying bacteria, continues to make waves far from its California base. Having already been produced for the Japanese Ministry of Food Safety, the revolutionary system is now being distributed in Viet Nam by VIET BA. The company specializes in medical equipment and IT solutions in Vietnam, capitalizing on the established reputation of the Viet Nam healthcare industry.

On their website, VIET BA details the unique design and operation of the MIT 1000, and lists the features and benefits that have made the invention such a big breakthrough in the critical field of pathogen identification.

The device uses the principles of laser light scattering to discriminate various bacteria cells that are suspended in filtered water. Incident laser light both reflects off the bacteria’s outer surface and penetrates the body of the bacterium, interacting with any structural features, and eventually emerges from inside the cell. The resulting light patterns are unique for each species, creating a signature that is captured and stored in a computer data base.

The MIT 1000 features 35 photo detectors that surround the sample vial and collect light scattering intensities that are generated when a cell intersects the laser beam. The scattering values collected by the detectors are statistically analyzed by MIT’s proprietary software that contains an extensive database of values for each bacteria seen by the photo detectors. Analysis of only 10-50 organisms are needed for identification, and the process typically takes less than 10 minutes.

BENEFITS:

• Test time < 10 minutes
• Up to 50% culture time reduction as compared to standard methods
• Very low operating cost
• Uses no reagents
• A single test for identifying multiple microbes
• 23 species, & easily expandable
• Simple preparation and test procedure

FEATURES:

• Solid-state laser
- 660 nm wavelength
- 30 mW
- 100 micron diameter
• 35 detectors on 5 arcs
• Operates on standard Windows XP platform
• Proprietary software is easily expandable and upgradable
• Small footprint - occupies about 1.25 cubic feet of space
• Weighs less than 25 pounds
• Easily portable

APPLICATION

• Food & Beverage
- Food & process water quality control
- Source water quality control
- Complement and eventually replace expensive lab testing

• Pharmaceutical/PCP
- Process water quality control
- Source water quality control

• Hospitals
- Cooling tower water and condensation

• Semiconductor
- Wafer fabrication process water

• Water utilities
- Acts as an effective complement to regulated lab analysis when quick results are desired – can improve confirmation time from 3 days to 4 hours.

• Defense
- Periodic monitoring of water in remote or potentially hazardous environments

For more information, visit www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) Offers Best Solution to Major Problem

Tuesday, September 7th, 2010

If ever there was a company that has lived up to the old business adage “Find a good solution to an important problem”, it is California based Micro Identification Technologies Inc.

There’s little question about the importance of the issue they are addressing, the growing need for quicker and easier identification of potentially deadly bacteria. The increasing globalization and industrialization of the world’s food supply has made the potential for contamination a threat that can affect food consumers everywhere.

• Microbial contamination, in hospitals and food products, has grown in recent years.
• Accurate identification of contamination typically takes at least 1-3 days, and sometimes up to a week.
• Charges usually run over $100 per test.

A CDC report states that, in the U.S. alone, contaminated food is believed to cause 325,000 hospitalizations and 5,000 deaths annually, with 45% of the cases the result of bacterial contamination. The current egg scare is just the most recent in a string of major food contamination alerts:

• 2009 – E. coli in Nestle cookie dough sickened 69 people in 29 states.
• 2008 – Salmonella in peppers from Mexico sickened 1,400 people in 43 states.
• 2008 – Salmonella in peanut butter products infected 700 people and killed 9.
• 2007 – E. coli in beef prompted recall of 55 million pounds, with reported outbreaks across 28 states.

Add to all this the fact that pathogens are growing resistant, making a prompt response even more critical.

• S. aureus is a bacterium that lives on the skin or in the nose of a person, and can cause life-threatening diseases such as pneumonia and meningitis.
• MRSA strains of S. aureus are resistant to antibiotics such as methicillin and penicillin.
• In November 2007, the CDC reported that in 2005 over 278,000 people were diagnosed and hospitalized for MRSA related infections.
• CDC reports MRSA events are increasing at a rate from 6% to over 9% annually throughout the U.S.
• MRSA screening of new hospital patients is desired, but the cost and time is considered prohibitive.
• Invasive Infections occur in 94,000 persons each year in the U.S. resulting in roughly 19,000 deaths.

Micro Identification Technologies believes it has the single best solution to this growing concern in the form of a laser detection system called the MIT 1000. It’s the world’s only non-biological automated system for identifying bacteria, using proprietary software to analyze and interpret the complex patterns generated by laser light reflected off the microbes. Compared to traditional methods of identification, the MIT 1000 offers a far quicker, simpler, and less costly way of spotting potentially dangerous contaminates. The system has already been produced for major health agencies such as the U.S. Department of Agriculture and the Japanese Ministry of Food Safety.

The need for such improved pathogen identification is reflected in the marketplace, where the revenues for rapid testing methods have expanded at an annual rate of over 9% since 1998, and already exceed $5 billion annually. Current growth projections are at 10.2% annually, reaching $6.2 billion by 2013.

For more information, visit www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) Builds Manufacturing To Meet Growing Demand

Wednesday, September 1st, 2010

Micro Identification Technologies Inc., developers of the MIT 1000, a patented microbial identification system that can identify bacteria faster and less expensively than any other method available, today announced that it is making significant progress in the production of the MIT 1000. This is important, since demand for the revolutionary system, already used by the U.S. Department of Agriculture and the Japanese Ministry of Food Safety, has been building. Their success in growing manufacturing capability is due largely to the company’s recent manufacturing alliance with OSI Optoelectronics (OSIO), a subsidiary of OSI Systems (NASDAQ: OSIS), to produce the MIT 1000. OSIO has manufacturing facilities in California, Malaysia, and India.

There’s nothing like the MIT 1000. It can identify a wide range of potentially dangerous bacteria in minutes instead of days, without chemical or biological agents, without fluorescent tags, gas chromatography, or DNA analysis, saving money as well as time. With the increased calls for food safety, revenues for rapid testing methods have expanded at an annual rate of over 9% since 1998, and already exceed $5 billion annually. Current growth projections are at 10.2% annually, reaching $6.2 billion by 2013.

MIT’s Executive VP and COO, John Ricardi, commented on the manufacturing progress. “All of OSIO’s world class facilities are ISO 9001:2000 certified, FDA registered and GMP compliant making them the perfect company to fabricate MIT’s systems for food safety applications as well as planned pharmaceutical and clinical diagnostic applications. While we are predicting quantity deliveries of the MIT 1000 System by the end of this year, initially the systems will be built in OSIO’s California facility, as volume increases, fabrication will move to one of their lower cost overseas facilities enabling MIT to improve future profit margins.”

To help fund the growth, MIT has entered into a three-year $5 million equity agreement with Boston-based private equity firm Dutchess Capital. MIT CEO, Michael Brennan, stated, “We have been very pleased working with Dutchess, which has an excellent track record in the investment banking industry and has been a leading provider of private equity for over 10 years. Their successful background was the primary reason we selected them to be one of our partners.”

For more information, visit www.micro-identification.com.

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Micro Identification Technologies (MMTC.OB) Continues Scale Up for MIT 1000 Pathogen ID System

Tuesday, August 24th, 2010

When Micro Identification Technologies Inc., developer of the revolutionary MIT 1000 laser-based microbial identification system, indicated earlier that they were on track to begin quantity deliveries of their system in 4Q of 2010, they added something of an admonition. MIT’s Chairman, Michael Brennan, said that the company needs “to increase our system support and microbiological research capabilities in conjunction with supporting the food industry’s obvious safety requirements.” It was a way of saying that, although the future is bright, the company has more work to do.

There’s little question of a growing interest in their product, since it provides companies and agencies a much quicker and more cost effective way of identifying potentially harmful bacterial contamination before it spreads. To translate interest into dollars, the company is moving forward with plans for financing and production.

Today, with food safety concerns becoming front page news, MIT’s growth preparations are well under way. Underpinning these moves is the company’s important equity placement agreement along with their recent manufacturing contract with OSI Optoelectronics to produce its systems. MIT has already produced the MIT 1000 in limited quantities and has had several distinguished users, including the U.S. Department of Agriculture, Japanese Ministry of Food Safety, University Putra Malaysia, and various local contract laboratories. Results have been encouraging enough to begin working towards scaled up production.

With the FDA being given broader powers to oversee the way food is grown, harvested, processed, and delivered, the timing couldn’t be better for Micro Identification Technologies. The Washington Post recently 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.”

For more information on the company, visit www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) to Capitalize on Growth from Increased Food Poisoning Concerns

Wednesday, August 18th, 2010

Micro Identification Technologies Inc., developer of the groundbreaking MIT 1000 laser-based microbial identification system, says that they are now anticipating growth of 30 percent annually, due to increased demands in such areas as food safety. Their system uses lasers and advanced software to detect the presence of harmful bacteria far more easily and cost effectively than other methods, and is already being produced for major health agencies such as the U.S. Department of Agriculture and the Japanese Ministry of Food Safety.

Every time a new report comes out revealing weaknesses in consumer food safety, the need for a system like the MIT 1000 is brought home. The latest episode involves Taco Bell, part of fast food giant Yum! Brands. Taco Bell is the #1 Mexican fast food chain, with thousands of locations in 20 countries. According to the U.S. Centers for Disease Control and Prevention, the restaurant has recently been linked to outbreaks of Salmonella in 21 states, affecting more than 150 people.

Salmonella food poisoning comes from touching or eating contaminated foods, and can cause diarrhea, vomiting, abdominal cramps, and fever, over a period of several days. In some cases, it can cause severe dehydration, requiring medical help. In the worst situation, it can spread from the intestines to the bloodstream and then to other body sites and can cause death unless the person is treated promptly with antibiotics. Over 40 of the victims in this most recent outbreak have required hospitalization.

Affected states, from west to east, are Oregon, Washington, Montana, Colorado, Iowa, Minnesota, Wisconsin, Illinois, Indiana, Michigan, Ohio, Pennsylvania, New Hampshire, Massachusetts, Connecticut , New York, New Jersey, Kentucky, Georgia, North Carolina and South Carolina.

The MIT 1000 system makes it far easier and quicker for businesses and agencies to identify specific pathogenic microbes, and is seen as a major new tool in the war against bacteria and food poisoning.

For more information, visit www.micro-identification.com.

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Micro Identification Technologies (MMTC.OB) Creates Board of Science Advisors

Tuesday, August 3rd, 2010

Micro Identification Technologies Inc., developer of the MIT 1000, a groundbreaking new laser-based system for quickly and easily identifying pathogenic microbes, is in the process of forming a strong Science Advisory Board to give critical direction and advice on research and development objectives, and to provide oversight for the company’s technologies related to food safety and health.

The Board of Science Advisors will be chaired by Ralph Emerson, a noted microbiologist and a member of the company’s Board of Directors. Mr. Emerson has biotech product development and research affiliations with some of the world’s leading companies, including Cargill, Nestle Purina, and 3M. Additionally, he has held academic and research positions with the University of California’s Irvine Medical School and UC Davis, and has developed many patented products. He is president of Emovations Science & Technology, and is a partner with Anthony Frank in FREM Biosciences, as well as being a director of the Kary Mullis Research Foundation and Altermune, Inc.

Mr. Emerson has already nominated the following noted scientists to the MIT Board of Science Advisors:

• Kary B. Mullis, Ph.D. – Dr. Mullis is a Nobel Prize winning biochemist, who has consulted on nucleic acid chemistry for more than a dozen corporations, including Abbott Labs, Eastman Kodak, Milligen/Biosearch, Angenics, and Cytometrics. He has conducted research on oligonucleotide synthesis, and invented the polymerase chain reaction which resulted in the award of the Nobel Prize.
• Eric Ackerman, Ph.D. – Dr. Ackerman is a senior scientist at the Pacific Northwest National Laboratory, performing research on such things as DNA repair and proteins. He received his Ph.D. in Biophysics from the University of Chicago, and was a Helen Hay Whitney post-doctoral fellow at the MRC Laboratory of Molecular Biology in Cambridge, England. He became a Principal Investigator at the National Institute of Health, studying molecular mechanisms of toxins and DNA repair.

For more information, visit www.micro-identification.com

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Micro Identification Technologies, Inc. (MMTC.OB) Ramping Up

Monday, July 26th, 2010

Micro Identification Technologies Inc., developer of the revolutionary MIT 1000 patented microbial ID system, is targeting a rapidly growing market resulting from increased demands in the areas of food safety, general health, and homeland security. The company has already produced the system for a number of high-end organizations, including the U.S. Department of Agriculture, the Japanese Ministry of Food Safety, and even a university in Malaysia, and recently announced the initiation of an internal expansion program. The expansion is made possible by a manufacturing contract with OSI Optoelectronics to produce the systems, and an equity placement agreement from the private equity firm of Dutchess Capital.

The MIT 1000 represents a new paradigm in the critical detection of pathological microbes that kill countless people worldwide every year. The system intelligently leverages advanced software to read the patterns generated by reflected laser light illuminating the bacteria, and can quickly identify various pathogens without the need of expensive laboratory intervention.

MIT’s Chairman, Michael Brennan, spoke of the progress made. “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. 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.”

Emergence of the new technology has occurred at a time when concerns about food safety have significantly increased, and with the government approving the first major changes to food safety laws in 70 years. The Washington Post reported, “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.”

Revenues for all rapid testing methods total over $5 billion annually, with food safety totaling over $3 billion.

For more information, visit www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) – A Leader in Bacterial Detection and Food Safety

Monday, July 19th, 2010

Micro Identification Technologies Inc. is focused on becoming a global leader in developing and marketing products and processes that detect and identify microbial organisms for the food safety and health care industries.

The company believes that its MIT 1000 system will be able to replace current bacterial detection and identification methods. Current methods of taking a culture and sending it to a laboratory are both costly and time-consuming (48-72 hours). The portable MIT 1000 system will cut costs to only $0.10 a test and reduce the identification time down to mere hours.

The MIT 1000 system requires only a small sample of the culture to be placed into a test vial. Then laser light strikes the test material and an array of 35 photo-detectors collect data representing the light scattering pattern. These patterns are then compared, by computer, to a database of such patterns. Each pattern is unique to a species of bacteria – a sort of ‘fingerprint’ identifying the specific bacteria.

Micro Identification Technologies intends to first go after the food processing market. The company envisions massive growth in demand for testing due to the globalization of US food sources and mounting pressures for efficiency within the industry itself. The company is also targeting the health care field where the rising instances of MRSA bacterial infections is also increasing demand for rapid, cost-effective methods of detection.

The company plans to expand its distribution network beyond the United States into 10 countries internationally. This will allow Micro Identification Technologies to grow sales quickly and potentially make the company cash flow positive within a year. For more information on the company and the MIT 1000, please visit their website at www.micro-identification.com.

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Micro Identification Technologies, Inc. (MMTC.OB) Helps Fight the Deadly Bacteria War

Monday, July 12th, 2010

All of humankind’s destructive technologies are no match for nature’s microscopic killers – bacteria. These invisible “bugs” manage to kill several million people a year. Of course, not all bacteria are killers…many are very useful. In fact, there are ten times as many bacterial cells in your body as there are human cells. Many of these bacteria are vital to the life process.

Bacteria weren’t even known to exist until they were discovered in 1676 by Antonie van Leeuwenhoek, who observed them using a magnifying lens of his own design. And it wasn’t until 200 years later that the work Louis Pasteur and Robert Koch helped solidify the idea that such germs could be the cause of disease.

Since that time, science made great strides, resulting in an arsenal of chemical and other ‘weaponry’ to combat the worst bacteria. The relatively small number of dangerous bacteria continue to challenge our technologies and their application. The key is detection of harmful bacteria. Most current methods involve taking a sample and sending it off to a laboratory where it is analyzed by scientists. This is a very time-consuming and costly method.

Giant global pharmaceutical companies remain the biggest players in the war against bacteria. However, one of the most unique breakthroughs in the science of bacterial detection and identification belongs to a small but up-and-coming company out of San Clemente, California called Micro Identification Technologies (OTCBB: MMTC).

Micro Identification Technologies has developed a way to identify 23 different species of pathogenic bacteria, only 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 species of bacteria. The company’s proprietary software quickly analyzes the patterns to come up with a determination.

In addition, because the required sample is so small, the culturing time itself is cut in half. The bottom line is much faster processing, at a tiny fraction of the normal cost. One would think this will result in a lot of business in the years to come for Micro Identification Technologies.

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Micro Identification Technologies, Inc. (MMTC.OB) Gains Marketplace Traction

Tuesday, July 6th, 2010

Micro Identification Technologies Inc. may be getting some serious traction in its drive to introduce a revolutionary new way of identifying pathogenic microorganisms. The company has created the MIT 1000, the world’s only non-biological automated system for identifying bacteria, using proprietary software to analyze and interpret the complex patterns generated by laser light reflected off the microbes. Compared to traditional methods of identification, the MIT 1000 offers a far quicker, simpler, and less costly way of spotting potentially dangerous contaminates.

The federal government has called for the passage of tougher food safety regulations based upon dramatic numbers regarding the toll caused by food borne illness in the U.S., and yet another case of salmonella contamination found in a food processing plant. The national cost of food borne illness is estimated to be a staggering $152 billion every year, with approximately 76 million people experiencing some sort of food related illness. Of those people, nearly 325,000 require hospitalization and 5,000 of them die. Antiquated laws and a lack of enforcement are prime targets, but old and costly technologies are also considered to blame.

Standard approaches to contamination identification require lengthy culturing to produce a large enough sample to be tested and evaluated. The process calls for trained staff and specialized equipment, which often means shipping samples off to distant laboratories and waiting days or weeks for results. The MIT 1000, on the other hand, requires minimal sampling and no skilled laboratory staff. The equipment is compact and automated, and can be easily kept and operated on site. Samples are exposed to laser light, and the complex patterns generated by the reflection from the sample are quickly and automatically evaluated by the system, resulting in a quick and highly accurate reading identifying 23 species of pathogenic bacteria at a fraction of the normal cost.

The company has already taken steps to scale up production and large scale food processing operations are expected to be the first in line to take advantage of the new system. But the food industry is only one market taking a close look at the technology, which can be used anywhere bacterial contamination is a threat, including semiconductor processing.

For more information, see the company website at www.micro-imaging.com.

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