The stock price of Micro Imaging Technology Inc (PINK:MMTC) has been flying up since the beginning of this week. On 
Monday, the stock gained 127% on the market, and yesterday it added another 28% to its price. Along with the price jump, trading volume of MIT reached the phenomenal 112 million shares for a day, which immediately stoke investors’ attention.
No wonder the stock is flying up, considering the fact that it has been recently promoted. The campaign took place on Monday, when MIT was promoted by Microcap Millionaires. No compensation for the alert was listed, however, it looks like Micro Imaging has ordered the promotion by itself, as there was no third party involved in it. Anyways, the company’s move appeared to be successful as MIT keeps climbing up.
However, it wasn’t the only effort made by the company to get the gain. Over the past couple of days, Micro Imaging has been releasing good news on its business, which apparently has inspired investors.
First, on Monday, Epic Corp. and Micro Imaging Technology announced an equity alliance. Then, yesterday the company re-announced the news and MIT stock price increased even more than the previous day. As there are neither promotions, nor news today, it is interesting which way MIT will take.[BANNER]
Micro Imaging Tech. is a California-based public company that has developed and patented a Rapid Microbial Identification System that revolutionizes the pathogenic bacteria diagnostic process. Though, according to its last 10-Q report, the company’s financials are not inspiring at all:
* $144,086 total assets
* $2,149,059 total liabilities
* $2,004,973 stockholders’ deficit
* $0.00 sales & gross profit
Having in mind these numbers, as well as the substantial accumulated deficit from previous operating activities and during the development stage period, even with the loan ensured MIT is not able to cover its losses. Thus, the management claim that they will be required to raise substantial amounts of new financing for the company. Otherwise, they might not be able to continue operating.
