Micro Imaging terminates $2 million five-year convertibles placement

Investor Alpine MIT did not buy any 7% debentures under agreement

By Devika Patel

Knoxville, Tenn., May 4 - Micro Imaging Technology, Inc. terminated plans for a $2 million private placement of five-year 7% senior secured convertible debentures with Alpine MIT Partners, LLC on April 6, according to an 8-K filed Friday with the Securities and Exchange Commission.

The deal was negotiated on March 7, and no debentures were sold.

The San Clemente, Calif., company is developing fluid monitoring systems for water monitoring, food processing and clinical applications in the United States.

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