MIT Welcomes New Board Member
May 09 2012 - 8:00AM
Marketwired
Micro Imaging Technology, Inc. (OTCBB: MMTC) (OTCQB: MMTC)
announced that Gregg J. Newhuis has accepted his nomination to
serve on its Board of Directors effective immediately.
"Gregg is an outstanding addition to MIT's Board," stated
Jeffrey Nunez, Chairman and CEO. "His background in business and
finance is a perfect fit as we expand our efforts to meet an
aggressive revenue plan for the coming year. Further, Gregg's
commitment to a significant investment in the Company speaks to his
support for and confidence in the Company and its growth
potential."
Mr. Newhuis brings over thirty years of equipment leasing,
asset-based financing as well as commercial and retail banking
experience to the Board. A 1981 graduate of Eastern Illinois
University, he earned a Bachelor of Science degree with a major in
Finance and minor in Economics.
Mr. Newhuis started his finance career in 1981 with Walter E.
Heller & Co., working in the Municipal Finance and the
Commercial Industries divisions. In 1987, he accepted a position
with Phoenixcor Financial, a New York-based finance company, to
open and manage an office for them in Hinsdale, IL. In 1991, Mr.
Newhuis accepted an offer from Toshiba Machine Co., America (a
seller of plastic injection molding machines, machine tools,
aluminum die cast machines and robotic equipment) to start and run
an in-house private label finance company. He currently continues
to operate in this capacity.
Mr. Newhuis' banking experience dates back to 2001 when he was
part of a group of eleven individuals that originated Advantage
National Bank and Trust Company, N.A., a de novo bank located in
Elk Grove Village, Il. In 2003, they successfully sold the bank to
Wintrust Financial Corporation (NASDAQ: WTFC). Mr. Newhuis
continues to serve on the surviving bank (Schaumburg Bank &
Trust Company, N.A.) Board of Directors and more specifically on
its Credit and Risk Committees.
About Micro Imaging Technology: MIT is a
California-based public company (OTCBB "MMTC") that has developed
and patented a rapid microbial identification system that can
revolutionize the bacteria identification market by annually saving
thousands of lives and tens of millions of dollars. The System
identifies bacteria in minutes, not days, and at a significant per
test cost savings when compared to any conventional method and is
the recipient of the prestigious AOAC RI Certification for the
identification of Listeria -- the bacteria responsible for
Listeriosis, a rare but lethal food-borne infection that has a
devastating fatality rate of 25 percent.
The System has numerous applications including: food safety,
clinical diagnostics, pharmaceutical quality assurance,
semiconductor processing control and water quality monitoring. MIT
has chosen to focus efforts on food quality control as recent
events have created an urgent demand for quicker and cheaper
testing for food safety.
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: Jeffrey G. Nunez Email: Email Contact
Telephone: (512) 266-3507
Wintrust Financial (NASDAQ:WTFC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Wintrust Financial (NASDAQ:WTFC)
Historical Stock Chart
From Jul 2023 to Jul 2024