Micro Imaging Technology, Inc. (PINK:MMTC) share price fell down at market close yesterday, though it looks like the stock for now keeps the strong appreciation that started a couple of weeks ago. Yesterday’s session closed also with a new press release, which might have effect on the trading today as well. 
MMTC closed with a 9.26% loss from the previous day at $0.0098 for a share. Trading volume of 45.80 million shares was higher than the average, but less than that of the preceding sessions in which the share price was climbing up. Despite the lower closing price, MMTC still got a daily high of over $0.012 and it traded above the open of the previous day.
According to MMTC latest financial reports, the company does not have any operations currently, nor cash to start any business. On the other hand, MMTC hides high dilution risks due to its convertible debentures. So, it looks like it is news, press releases and some trading alerts that sustain interest and keep the liquidity of the stock.
Shortly before market close yesterday, one more press release came out. It gave further details on an announced at the end of July equity alliance with EPIC Corporation, namely that Principals of EPIC have invested personally in an MMTC Convertible Debenture and EPIC has entered into an MIT Stock Purchase Agreement. Also, according to the PR, EPIC has formed a new subsidiary with the only purpose to provide a sales channel for all MIT products.
Though the statement that MMTC has any marketable products that can be immediately ordered and delivered, which is not seen in the last 10-Q, it does not seem that probable that the company’s news and press releases are the real reason why the share price suddenly jumped up after going down for a whole year.
