Epic and Micro Imaging Technology Announce a Significant Equity Alliance
July 25 2011 - 8:30AM
Marketwired
EPIC Corporation (PINKSHEETS: EPOR) (the "Company"), announced that
it has entered into a significant long-term equity alliance with
Micro Imaging Technology, Inc. Under the terms of the signed
Memorandum of Understanding, EPIC has committed to purchasing a
substantial equity position in MIT and as a healthcare products and
services company, it will receive the benefits of MIT's
revolutionary technology.
"EPIC is fortunate to become a part of Micro Imaging
Technology," said Ronald Tucker, CEO of EPIC. "We believe that
Micro Imaging is undervalued. The Company's balance sheet fails to
reflect the value of the commercialized device for identifying
bacteria and the 20 or more libraries that can be used to identify
other bacterium, including MRSA."
ABOUT MICRO IDENTIFICATION TECHNOLOGIES:
MIT is a California-based public company that has developed and
patented a Rapid Microbial Identification System that
revolutionizes the pathogenic bacteria diagnostic process. The
System identifies bacteria in minutes and at a significant per test
cost savings when compared to any conventional methods. It does not
rely on chemical or biological agents, conventional processing,
fluorescent tags, gas chromatography or DNA analysis. The process
requires only clean water and a sample of the unknown bacteria.
MIT previously completed an extensive evaluation by the AOAC RI
Institute which included rigorous independent testing and thorough
reviews by its expert examiners, including the U.S. Department of
Agriculture.
MIT has also demonstrated the ability to detect and identify,
within several minutes, the microbes Escherichia coli, Listeria,
Salmonella, Staphylococcus aureus, and other pathogenic bacteria.
The System can currently identify 23 species of bacteria and its
capabilities are easily expanded. The identification process has
been verified by North American Science Associates, Inc. (NAMSA),
an independent and internationally recognized microbiological
testing laboratory. See www.micro-imaging.com.
About EPIC Our business plan is to enter
into agreements with companies like Micro Imaging who are
developing technology to provide people with better healthcare. The
essence of these agreements is to provide the companies with
funding for regulatory approval, if necessary, product
commercialization, product procurement, marketing and distribution.
See www.epiccor.com.
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CONTACT: Ronald Tucker CEO Email: Email Contact
Telephone: (760) 771-0036
Micro Imaging Technology (CE) (USOTC:MMTC)
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