10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended January 31, 2013 Commission file number 0-16416

MICRO IMAGING TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

California	33-0056212
(State or Other Jurisdiction of Incorporation or Organization)	(IRS Employer Identification No.)

970 Calle Amanecer, Suite F, San Clemente, California 92673

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (949) 388-4547

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, par value $0.01 per share

(Title of Class)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [  ].

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated  filer	[  ]	Accelerated filer	[  ]	Non-accelerated filer	[  ]	Smaller reporting company	[X]
		(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act. Yes [  ] No [X].

At March 8, 2013, there were 4,874,225 shares of the Registrant’s common stock outstanding.

DOCUMENTS INCORPORATED BY REFERENCE: NONE

TABLE OF CONTENTS

		Page
PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements
	Condensed Consolidated Balance Sheet as of January 31, 2013 and October 31, 2012	3
	Condensed Consolidated Statements of Operations for the Three months Ended January 31, 2013 and January 31, 2012 And the Cumulative Period November 1, 2005 to January 31, 2013	4
	Condensed Consolidated Statements of Cash Flows for the Three months Ended January 31, 2013 and January 31, 2012 And the Cumulative Period November 1, 2005 to January 31, 2013	5
	Notes to Condensed Consolidated Financial Statements	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Plan of Operations	16
Item 3.	Controls and Procedures	18
PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	18
Item 2.	Changes in Securities	19
Items 3 through 5.	Omitted as not applicable	19
Item 6.	Exhibits and Reports on Form 8-K	19
SIGNATURES		20

2

Micro Imaging Technology, Inc. and Subsidiary
(A Development Stage Company)

Condensed Consolidated Balance Sheet

January 31, 2013 and October 31, 2012

(Unaudited)

’	January 31, 2013			October 31, 2012
ASSETS
Current assets:
Cash	$	2,962		$	90,132
Related party receivables		12,015			15,269
Inventory		67,487			25,600
Prepaid expenses		16,141			31,120
Total current assets		98,605			162,121
Fixed assets, net		113,777			123,041
Total assets	$	212,382		$	285,162
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Liabilities:
Current liabilities:
Notes payable to stockholder, net of unamortized discount of $4,263 and $5,536 in 2013 and 2012, respectively	$	137,737		$	136,464
Convertible notes payable, net of unamortized discount of $0 and $3,202 in 2013 and 2012, respectively		77,368			74,166
Accounts payable - trade		216,743			171,578
Accounts payable to officers and directors		62,218			45,583
Accrued payroll		157,362			139,040
Anti-dilution liability		65,401			65,401
Other accrued expenses		61,167			58,555
Total current liabilities		777,996			690,787
Long term liabilities:
Note payable to stockholder, net of unamortized discount of $262 and $844 in 2013 and 2012, respectively		24,188			46,106
Redeemable convertible preferred stock, $0.01 par value; 5,200 shares authorized, issued and outstanding at January 31, 2013 and October 31, 2012		26,000			26,000
Total long term liabilities		50,188			72,106
Total liabilities		828,184			762,893
Commitments and contingencies
Stockholders’ deficit:
Common stock, $0.01 par value; 25,000,000 shares authorized; 4,725,048 and 4,473,715 shares issued and outstanding at January 31, 2013 and October 31, 2012, respectively		47,250			44,737
Additional paid-in capital		45,043,499			44,889,013
Accumulated deficit from previous operating activities		(27,809,201	)		(27,809,201	)
Deficit accumulated during the development stage		(17,897,350	)		(17,602,280	)
Total stockholders’ deficit		(615,802	)		(477,731	)
Total liabilities and stockholders’ deficit	$	212,382		$	285,162

The accompanying notes are an integral part of the condensed consolidated financial statements.

3

Micro Imaging Technology, Inc. and Subsidiary

(A Development Stage Company)

Condensed Consolidated Statements of Operations

Three months Ended January 31, 2013 and January 31, 2012

And the Cumulative Period November 1, 2005 to January 31, 2013

(Unaudited)

							Cumulative period
							from
	Three months ended						November 1, 2005
	January 31,						through
	2013			2012			January 31, 2013
Sales	$	-		$	-		$	58,000
Cost of Sales		-			-			29,886
Gross profit		-			-			28,114
Operating costs and expenses:
Research and development		143,310			102,564			5,574,638
Sales, general and administrative		142,236			137,385			8,053,316
Total operating expenses		285,546			239,949			13,627,954
Loss from operations		(285,546	)		(239,949	)		(13,599,840	)
Other income (expense):
Interest income		11			-			11,462
Interest expense		(7,935	)		(110,644	)		(4,918,525	)
Gain on derivative instruments		-			28,574			149,304
Other income, net		-			762			473,049
Total other income (expense), net		(7,924	)		(81,308	)		(4,284,710	)
Loss from operations:
Before provision for income tax		(293,470	)		(321,257	)		(17,884,550	)
Provision for income tax		(1,600	)		(1,600	)		(12,800	)
Net loss		(295,070	)		(322,857	)		(17,897,350	)
Net loss attributable to:
Non-controlling interest		(39,955	)		(30,818	)		(1,289,717	)
Micro Imaging Technology, Inc. stockholders		(255,115	)		(292,039	)		(16,607,633	)
Net loss	$	(295,070	)	$	(322,857	)	$	(17,897,350	)
Net loss per share, basic and diluted	$	(0.06	)	$	(0.31	)
Shares used in computing net loss per share, basic and diluted		4,623,019			1,030,017

The accompanying notes are an integral part of the condensed consolidated financial statements.

4

Micro Imaging Technology, Inc. and Subsidiary

(A Development Stage Company)

Condensed Consolidated Statements of Cash Flows

Three months ended January 31, 2013 and January 31, 2013

And the Cumulative Period November 1, 2005 to January 31, 2013

(Unaudited)

							Cumulative period
							from
	Three months ended						November 1, 2005
	January 31,						to
	2013			2012			January 31, 2013
Cash flows from operating activities:
Net loss	$	(295,070	)	$	(322,857	)	$	(17,897,350	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		12,764			7,145			189,137
Gain on extinguishment of debt		-			-			(288,192	)
Amortization of costs and fees related to convertible debentures		5,057			85,486			1,165,291
Common stock issued for services		-			-			2,144,790
Common stock issued to officers, directors and consultants for services		-			906			3,211,491
Common stock issued for shares of subsidiary stock		-			-			254,000
Common stock of subsidiary issued to employees and consultants		-			-			2,815
Common stock issued as a commission		-			-			3,000
Common stock issued for accounts payable		-			-			296,583
Common stock issued to former licensee		-			-			41,319
Common stock issued/recovered on cancelled agreements		-			-			20,478
Non-cash compensation for stock options and warrants		-			-			631,923
Costs and fees related to issuance of convertible debt		-			-			542,540
Interest expense related to beneficial conversion feature		-			-			1,944,800
Interest paid with common stock		-			2,700			118,487
Interest on notes receivable for common stock		-			-			(1,373	)
(Increase) decrease in assets:
Related party receivables		3,254			-			(12,015	)
Prepaid expenses		14,979			-			9,450
Inventory		(41,887	)		-			(143,275	)
Increase (decrease) in liabilities:
Derivate liability		-			(27,028	)		-
Trade accounts payable		57,165			57,905			542,059
Accounts payable to officers and directors		16,635			62,549			769,258
Accrued payroll and other expenses		20,933			30,845			454,582
Net cash used in operating activities		(206,170	)		(102,349	)		(6,000,202	)
Cash flows from investing activities:
Purchase of fixed assets		(3,500	)		-			(220,643	)
Net cash used in investing activities		(3,500	)		-			(220,643	)

The accompanying notes are an integral part of the condensed consolidated financial statements.

5

Micro Imaging Technology, Inc. and Subsidiary

(A Development Stage Company)

Condensed Consolidated Statements of Cash Flows (Continued)

Three months ended January 31, 2013 and January 31, 2013

And the Cumulative Period November 1, 2005 to January 31, 2013

(Unaudited)

							Cumulative period
							from
	Three months ended						November 1, 2005
	January 31,						to
	2013			2012			January 31, 2013
Cash flows from financing activities:
Principal payments on notes payable to stockholder		(22,500	)		-			(1,296,000	)
Proceeds from common stock subscription		-			(1,250	)		-
Proceeds from issuance of notes payable to a related party		-			-			1,119,800
Proceeds from issuance of notes and convertible notes payable		-			32,500			1,604,234
Proceeds from issuance of common stock		145,000			70,181			3,600,475
Net cash provided by financing activities		122,500			101,431			5,028,509
Net change in cash		(87,170	)		(918	)		(1,192,336	)
Cash at beginning of period		90,132			5,206			1,195,298
Cash at end of period	$	2,962		$	4,288		$	2,962
Supplemental Disclosure of Cash Flow Information
Interest paid	$	-		$	664		$	10,985
Income taxes paid	$	1,600		$	1,600		$	21,840
Supplemental Schedule of Non-Cash Investing and Financing Activities
Conversion of convertible notes payable to shares of common stock	$	-		$	80,500
Common stock issued in consideration for accounts payable	$	12,000		$	-

The accompanying notes are an integral part of the condensed consolidated financial statements.

6

MICRO IMAGING TECHNOLOGY, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Unaudited)

1. Nature of our Business, Development Stage Company and Continuance of Operations

These unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America applicable to a going concern which contemplated the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. Since inception, the Company has incurred substantial losses and there is substantial doubt that the Company will generate sufficient revenues in the foreseeable future to meet its operating cash requirements. Accordingly, the Company’s ability to continue operations depends on its success in obtaining additional capital in an amount sufficient to meet its cash needs. This raises substantial doubt about its ability to continue as a going concern. These financial statements do not include any adjustments that might result from this uncertainty.

Our independent registered public accounting firm has included an explanatory paragraph in its report on the financial statements for the year ended October 31, 2012 which raises substantial doubt about our ability to continue as a going concern.

Micro Imaging Technology, Inc. (the “Company”), a California corporation, is a holding company whose operations are conducted through its Nevada subsidiary, Micro Imaging Technology (“MIT”). As of January 31, 2013, the Company owned eighty point seven percent (80.7%) of the issued and outstanding stock of MIT.

The losses incurred to date which are applicable to the minority stockholders of the Company’s consolidated subsidiary, MIT, exceed the value of the equity held by the minority stockholders. Such losses have been allocated to the Company as the majority stockholder and are included in the net loss and accumulated deficit in the condensed consolidated financial statements for the three months ended January 31, 2013. Any future profits reported by our subsidiary will be allocated to the Company until the minority’s share of losses previously absorbed by the Company have been recovered.

In 1997, the Company began marketing a small, point-of-use water treatment product aimed at the high purity segment of commercial and industrial water treatment markets. In February 2000, the Company formed Electropure EDI, Inc. (EDI), a wholly-owned Nevada subsidiary, through which all manufacturing and sales of its proprietary water treatment products were then conducted. In October 2005, the Company sold the assets of the EDI subsidiary and discontinued operations.

The Company acquired, in October 1997, an exclusive license to the patent and intellectual property rights involving laser light scattering techniques to be utilized in the detection and monitoring of toxicants in drinking water. In February 2000, the Company formed Micro Imaging Technology (MIT), a majority-owned Nevada subsidiary, to conduct research and development based upon advancements developed and patented from the licensed technology. The technology being developed is a non-biologically based system utilizing both proprietary hardware and software to rapidly (near real time) determine the specific specie of an unknown microbe present in a fluid with a high degree of statistical probability (“MIT system”). It will analyze a sample presented to it and compare its characteristics to a library of known microbe characteristics on file. At present, it is the Company’s only operation.

Effective with the sale of its EDI operation in October 2005, the Company’s planned principal operation, the further development and marketing of its remaining technology, has not produced any significant revenue and, as such, the Company, beginning with the fiscal year starting November 1, 2005, is considered a development stage enterprise.

2. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include all adjustments, consisting solely of normal recurring adjustments which management believes are necessary for a fair presentation of the Company’s financial position at January 31, 2013 and results of operations for the periods presented.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted.

7

MICRO IMAGING TECHNOLOGY, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. The accompanying condensed consolidated financial statements should be read in conjunction with our audited financial statements and footnotes as of and for the year ended October 31, 2012, included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on January 29, 2013.

Changes in Capitalization and Reverse Stock Split

On February 8, 2013, the Company effectively amended its Articles of Incorporation and decreased the authorized number of shares of Common Stock from 2.5 billion to 25 million shares. At the same time, the Company underwent a one-for-five hundred (1:500) reverse stock split of its Common Stock and Redeemable Convertible Preferred Stock. For purposes of this Quarterly Report, all issuances of common stock and options or warrants to purchase common stock, if any, are reflected retroactively in post-reverse split amounts. As of January 31, 2013, the reverse split effected by the Company resulted in a reduction in capital stock and an increase in additional paid-in capital in the amount of $23,577,990. See also Item 12 – “Subsequent Events.”

Reclassification of Prior Year Presentation

Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations. This change in classification does not materially affect previously reported cash flows in the Consolidated Statement of Cash Flows, and had no effect on the previously reported Consolidated Statement of Operations for any period.

Going Concern

The accompanying financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. The Company has not generated revenue, and has negative cash flows from operations, which raise substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern and appropriateness of using the going concern basis is dependent upon, among other things, additional cash infusion. The Company has obtained funds from several shareholders and believes this funding will continue. Management believes the existing shareholders will provide the additional cash needed to meet the Company’s obligations as they become due, and will allow the development of its core business.

3.	Concentration of Credit Risk and Other Risks and Uncertainties
	Accounts Payable – Trade

As of January 31, 2013, the amount due to a former consultant to the Company, $112,000, represented 52% of the total amount due for accounts payable to non-affiliates.

Litigation and Claims

On May 16, 2012, Alpine MIT Partners, LLC (Plaintiffs) filed a civil action against the Company and its Chairman and Chief Executive Officer, Jeffrey G. Nunez, (collectively, the Company), in the Texas District Court, Travis County. Plaintiffs alleged breach of contract and civil conspiracy, as well as tortious interference with contractual relations and prospective business relations. The lawsuit alleges that the Company breached certain provisions of a March 7, 2012 Securities Purchase Agreement the Company executed with the Plaintiff to sell up to $2.0 million of 7% Senior Secured five-year Convertible Debentures convertible into shares of common stock at a conversion rate of $.003 per share. The purchase and sale of the first $1.0 million Debenture was scheduled to close on or before April 6, 2012 and was subject to, among other things, Alpine closing the necessary equity funding to consummate the transactions. No money was ever received by the Company from Alpine.

8

MICRO IMAGING TECHNOLOGY, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Unaudited)

The lawsuit also suggests that the Company’s Chairman and Chief Executive Officer, Jeffrey G. Nunez, has a history of regulatory and securities law violations. The Company’s Board of Directors has researched the matter and understands that in January 2004, Mr. Nunez was requested by the NASD to appear and provide testimony pursuant to NASD Rule 8210. Mr. Nunez did not appear, but agreed not to associate in any capacity, in the future, with NASD member firms. The Company’s Board of Directors believes this to be of no consequence with respect to Mr. Nunez’ qualifications to serve as a board member and chief executive officer of the Company.

The Company argued that the lawsuit was improperly filed in Texas and that the Texas court had no jurisdiction over the Company in this matter. At a hearing on March 7, 2013, the court upheld the Company’s position and dismissed the case against the Company.

On January 10, 2013, the Company learned that Plaintiffs had filed a lien against the Company’s patents on May 8, 2012 with the California Secretary of State under the Uniform Commercial Code. On or about January 29, 2013, the Company filed suit against Alpine MIT Partners, LLC in the Orange County, California Superior Court alleging, among other claims, that the UCC filing is unauthorized. The lawsuit also names the managing director and managing member of Alpine as Defendants and alleges that they made false promises, intentional misrepresentations and breached the contract which is the subject of the Texas suit. The Company is seeking damages of $1.6 million.

In accordance with accounting standards regarding loss contingencies, the Company accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated, and the Company discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if such disclosure is necessary for its financial statements not to be misleading. The Company does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated, or when the liability is believed to be only reasonably possible or remote.

Because litigation outcomes are inherently unpredictable, the Company’s evaluation of legal proceedings often involves a series of complex assessments by management about future events and can rely heavily on estimates and assumptions. If the assessments indicate that loss contingencies that could be material to any one of its financial statements are not probable, but are reasonably possible, or are probable, but cannot be estimated, then the Company discloses the nature of the loss contingencies, together with an estimate of the range of possible loss or a statement that such loss is not reasonably estimable. Since the lawsuit filed against the Company in Texas has been dismissed, no loss contingency has been accrued.

Antidilution Liability

The Company has recorded a $65,401 liability to allow for the possible dilutive impact of equity issuances that alter or effect conversion or exchange rates existing on the various dates of conversion or exercise of securities having adjustable conversion rates.

Accrued Payroll, Payroll Taxes and Benefits

From April 2010 through March 2012, payments made to two employees were recorded as reductions in accrued and unpaid payroll. In April 2012, the Company reclassified such payments as net payroll payments; calculated and recorded the employer and employee taxes that should have been withheld on such payment. Federal and state payroll tax returns have been filed for the last three quarters of 2010, all of 2011 and the first quarter of 2012. Estimated penalties and interest on the late filings and payments, in the sum of $27,029, have been accrued as of January 31, 2013. On September 20, 2012, the Internal Revenue Service filed a Notice of Federal Tax Lien against the Company assessing $58,857.60 for unpaid taxes, penalties and interest. A Notice of Tax Lien was also filed by the State of California on November 9, 2012 in the amount of $8,206, including penalty and interest, The Company has been in contact with the respective tax authorities in an effort to negotiate a payment arrangement for the taxes due.

Accrued Payroll and Benefits consist of the above payroll taxes and salaries, wages, and vacation benefits earned by employees, but not disbursed as of January 31, 2013. Accrued Payroll also includes the above estimated penalties and interest due on such unpaid payroll taxes. Liability for vacation benefits is accrued when earned monthly and reduced when taken. At the end of each fiscal period, the balance in the accrued vacation benefits liability account is adjusted to reflect current pay rates. Annual leave earned but not taken is considered an unfunded liability since this leave will be funded from future appropriations when it is actually taken by employees.

9

MICRO IMAGING TECHNOLOGY, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Unaudited)

4. Related Party Receivables

Receivables from related parties are non-interest bearing, uncollateralized obligations and consist of a $2,000 advance to one recently hired employee in October 2012 to assist with moving expenses. The balance of $10,015 represents the amount which the Company’s President, Jeffrey Nunez, has received in excess of fees and expenses due to him since becoming employed by the Company in April 2012. The preparation of financial statements requires our management to make estimates and assumptions relating to the collectivity of our accounts receivable. Management believes that the referenced receivables are collectible and as of October 31, 2012 and January 31, 2012, the Company has determined that no Allowance for Doubtful Accounts was required.

See also Note 11 – “Securities Transactions.”

5. Inventory

Inventory is stated at the lower of cost or market and comprised entirely of finished goods. Cost is determined on a first-in, first-out (FIFO) basis. The Company’s management monitors inventory for excess and obsolete items and makes necessary valuation corrections when such adjustments are required.

6. Property and Equipment

Property and equipment are recorded at cost and are depreciated using the straight-line method over an expected useful life of 3 or 5 years. Effective October 31, 2011, the Company reclassified and capitalized as machinery and equipment eight of its MIT 1000 Systems that it had carried as finished goods valued at $75,788. A revised model of the systems has been designed and the Company will utilize these eight first generation models as laboratory testing equipment. Commencing November 1, 2011, these systems are being depreciated over an expected useful life of 3 years.

The production tooling for the Company’s revised MIT 1000 has been capitalized and the $14,000 cost is being amortized over an estimated useful life of 3 years.

Expenditures for normal maintenance and repairs are charged to operations. The cost and related accumulated depreciation of assets are removed from the accounts upon retirement or other disposition, and the resulting profit or loss is reflected in the Statement of Operations. Renewals and betterments that materially extend the life of the assets are capitalized.

7. Summary of Significant Accounting Policies

The accounting policies followed are as set forth in Note 1 of the Notes to Financial Statements in the Company’s 2011 Annual Report on Form 10-K. The Company has not experienced any material change in its critical accounting policies since November 1, 2011. The Company’s discussion and analysis of its financial condition and results of operations are based upon its consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires the Company to make estimates and judgments regarding uncertainties that affect the reported amounts of assets, liabilities, revenues and expenses. On an ongoing basis, the Company evaluates its estimates, which are based upon historical experience and on other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. The Company considers the following accounting policies to be most critical in their potential effect on its financial position or results of operations.

10

MICRO IMAGING TECHNOLOGY, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Unaudited)

New Accounting Pronouncements

The following accounting standards updates were recently issued and have not yet been adopted by us. These standards are currently under review to determine their impact on our consolidated financial position, results of operations, or cash flows. There were various other updates recently issued which represented technical corrections to the accounting literature or application to specific industries. None of the other updates are expected to a have a material impact on our consolidated financial position, results of operations or cash flows.

January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.

On February 7, 2013, the FASB issued Accounting Standards Update [ASU] 2013-03, entitled Clarifying the Scope and Applicability of a Particular Disclosure to Nonpublic Entities. The guidance in ASU 2013-03 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 825, entitled Financial Instruments. The objective associated with issuing this amended guidance is to clarify the scope and applicability of a particular disclosure for nonpublic entities [nonissuers] that resulted from the issuance of ASU 2011-04, entitled Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs, where that amended guidance essentially served to rewrite the guidance in FASB ASC 820, entitled Fair Value Measurement. The ASU 2013-03 amendments to FASB ASC 825 became effective upon issuance of the guidance. Since the amendments were issued on February 7, 2013, that date serves as the effective date of the amended guidance. The adoption of ASU 2013-03 is not expected to have a material effect on the Company’s operating results or financial position.

Earnings Per Share

Basic earnings per share are based on the weighted average number of shares outstanding for a period. Diluted earnings per share are based upon the weighted average number of shares and potentially dilutive common shares outstanding. Potential common shares outstanding principally include convertible notes payable and stock options under our stock plan. Since the Company has incurred losses, the effect of any common stock equivalent would be anti-dilutive.

Stock Based Compensation

Stock-based compensation costs for stock options issued to employees is measured at the grant date, based on the fair value of the award using the Black Scholes Option Pricing Model, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity grant).

No stock-based compensation was recognized during the three months ended January 31, 2013.

On February 14, 2012, the Board of Directors adopted the 2012 Employee Benefit Plan which is authorized to grant up to 120,000 shares of common stock or options to purchase common stock to eligible employees, directors, officers, consultants or advisors. Eligibility is determined by the Board of Directors. On January 16, 2013, the Company issued 8,000 shares of common stock under the Plan to legal counsel for services rendered. The value of the shares was $12,000, or $1.50 per share. See also Note 12 – “Subsequent Events.”

11

MICRO IMAGING TECHNOLOGY, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Unaudited)

The following table summarizes information about options granted under the Company’s equity compensation plans through January 31, 2013 and otherwise to employees, directors and consultants of the Company. Generally, options vest on an annual pro rata basis over various periods of time and are exercisable, upon proper notice, in whole or in part at any time upon vesting. Typically, in the case of an employee, vested options terminate when an employee leaves the Company. The options granted have contractual lives ranging from two to ten years.

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at October 31, 2012		5,600		$	40.00		1.2	$	—
Granted		—			—
Exercised		—			—
Expired		(1,000	)		145.00
Canceled		—			—
Outstanding at January 31, 2013		4,600		$	19.29		1.2	$	—

Summary information about the Company’s options outstanding at January 31, 2013 is set forth in the table below. Options outstanding at January 31, 2013 expire between August 2013 and January 2016.

Range of Exercise Prices	Options Outstanding January 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Options Exercisable January 31, 2013		Weighted Average Exercise Price
$ 1.00-$70.00		4,400		1.2	$	13.50		4,400	$	13.50
$150.00		200		0.5	$	150.00		200	$	150.00
TOTAL:		4,600						4,600

As of January 31, 2013, all outstanding options had fully vested and there was no estimated unrecognized compensation from unvested stock options.

The following table summarizes the information relating to warrants granted to non-employees as of October 31, 2011 and changes during the three months ended January 31, 2013:

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at October 31, 2012		146,667		$	1.00		1.8	$	—
Granted		—			—
Exercised		(40,000	)		1.00
Expired		—			—
Canceled		—			—
Outstanding at January 31, 2013		106,667		$	1.31		1.2	$	—

Summary information about the Company’s warrants outstanding at January 31, 2013 is set forth in the table below. Warrants outstanding at January 31, 2013 expire between September 2013 and April 2015. See also Note 12 – “Subsequent Events.”

12

MICRO IMAGING TECHNOLOGY, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Range of Exercise Prices		Warrants Outstanding January 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Warrants Exercisable January 31, 2013		Weighted Average Exercise Price
$	1.00		40,000		2.2	$	1.00		40,000	$	1.00
$	1.50		66,667		0.6	$	1.50		66,667	$	1.50
			106,667						106,667

8. Convertible Debentures

On November 10, 2010, the Company entered into a convertible note for $64,868 with a stockholder. The Note matured on May 31, 2012 and bears interest at the rate of ten percent (10%) per annum. The Note is convertible into shares of common stock at a forty two percent (42%) discount to the average of the lowest three (3) closing bid prices of the common stock during the ten (10) trading days prior to the conversion date. The note holder may convert any or all of the unpaid principal note prior to the maturity date. The Company calculated the intrinsic value of the conversion feature to be $46,973 as of the date of issuance of the debentures using the same criteria as noted above, which amount has been fully amortized as of January 31, 2013. The Company has expensed $14,449 in accrued interest on the note as of January 31, 2013. If the note had been converted as of January 31, 2013, the Company would have issued a total of 117,728 shares of common stock the value of which would exceed, by $117,610 the principal balance due on the note. The Company is currently negotiating with the lender to settle or renegotiate the Note.

On November 27, 2009, the Company borrowed $25,000 from an unaffiliated lender. In September 2011, the lender converted $12,500 of the principal and $2,876 in accrued interest into 17,084 shares of common stock. The Company issued an Amended and Restated Convertible Note for the $12,500 principal balance of the loan. The amended note matured on December 31, 2012 and bears interest at 6% and is convertible into common shares at a 55% discount to the average of the lowest three (3) closing bid prices of the common stock during the ten (10) trading days prior to the conversion date. The Company calculated the intrinsic value of the conversion feature on the remaining balance to be $10,507 as of the date of issuance of the amended note which has been fully amortized as of January 31, 2013. As of January 31, 2013, the Company had expensed a total of $1,021 in accrued interest on the remaining principal balance of $12,500. If the $12,500 balance of the note had been converted as of January 31, 2013, the Company would have issued a total of 29,240 shares of common stock.

At January 31, 2013 and October 31, 2012, without taking into effect any unamortized discounts, convertible debentures consisted of the following:

			October 31, 2012
	January 31, 2013		(Audited)
Convertible note payable to stockholder; principal and interest at 10% due on May 31, 2012.	$	64,868		64,868
Convertible notes payable to various stockholders; principal and interest at 6% maturing on December 31, 2012.	$	12,500		12,500
		77,368		77,368
Less current maturities	$	77,368		77,368
Long term portion of Convertible and Series 1 notes payable	$	—	$	—

13

MICRO IMAGING TECHNOLOGY, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Unaudited)

9. Notes Payable

At January 31, 2013 and October 31, 2012, without taking into effect any unamortized discounts, notes payable to an officer and to stockholders consisted of the following:

			October 31, 2012
	January 31, 2013		(Audited)
Unsecured, interest-free convertible notes payable to former officer/director of the Company; principal due on payment schedule through May 2014.	$	114,450	$	136,950
Unsecured convertible note payable to various stockholders; principal and interest at 6% due between December 9, 2010 and April 20, 2011.		52,000		52,000
		166,450		188,950
Less current maturities		142,000		142,000
Long term portion of notes payable	$	24,450	$	46,950

Concurrent with his April 13, 2012 resignation as Chairman of the Board of Directors and Chief Executive Officer, the Company agreed to repay a total of $160,000 in principal loans, $24,339 in accrued interest and $13,120 in unpaid fees and expenses due Michael Brennan over a 25-month payment schedule commencing May 1, 2012. As of January 31, 2013, payments have been made to Mr. Brennan to reduce the principal balance to $114,450.

With the exception of the above $114,450 in notes payable to a former officer and director, all of the above notes payable were past due as of January 31, 2013. The Company is currently negotiating with holders of the remaining $52,000 in principal notes to either extend the maturity date or convert the notes into shares of common stock.

10. Employee Retirement Plan

Commencing on January 1, 2005, the Company sponsored a Simple IRA retirement plan which covers substantially all qualified full-time employees. Participation in the plan is voluntary and employer contributions are determined on an annual basis. Employer contributions would be made at the rate of three percent (3%) of the employees’ base annual wages. However, the Company made no contributions to the IRA plan during the three months ended January 31, 2013 and 2012.

11. Securities Transactions

Common Stock Issued in Private Placement Transactions

On May 8, 2012, Board member, Gregg J. Newhuis, entered into a Subscription Agreement, as amended on October 31, 2012, to purchase a total of 1,800,000 shares of the Company’s common stock at $0.50 per share over a six-month period. Mr. Newhuis also received a one-year option to purchase up to an additional 266,667 shares of common stock at $1.50 per share in September 2012. This option was cancelled in October 2012. The Company received the final $100,000 from Mr. Newhuis on November 29, 2012 pursuant to his May 2012 subscription arrangement. Giving effect to the February 8, 2013 reverse stock split, the Company issued a total of 200,000 shares of common stock at $0.50 per share for the November 29, 2012 purchase.

On April 20, 2012, the Company granted three-year warrants to purchase 80,000 shares of common stock to a major shareholder as part of a Subscription Agreement for the purchase of 80,000 shares of common stock at $0.75 per share. The warrants are exercisable at $1.00 per share within one year of the subscription; $2.50 per share within two years; and at $5.00 per share during the third year of the warrant. On January 11, 2013, the warrant holder exercised his right to purchase one half of the warrants granted and paid $40,000. Giving effect to the February 8, 2013 reverse stock split, the Company issued 40,000 shares of common stock at $1.00 per share on this transaction.

14

MICRO IMAGING TECHNOLOGY, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Unaudited)

On January 11, 2013, Victor Hollander, a Director and the Company’s Chief Financial Officer, purchased 3,333 shares of common stock for proceeds of $5,000, at the fair market value of $1.50 per share.

Pursuant to an April 1, 2012 consulting arrangement, the Company agreed to pay Jeffrey Nunez a five percent (5%) transaction fee on all proceeds received by the Company during the one year term of such agreement. The fee is payable in shares of the Company’s common stock which are to be valued as the average closing price of the common stock for the five (5) trading days prior to the transaction which triggers the fee. Between April 20 and October 31, 2012, the Company issued Mr. Nunez a total 35,512 shares of common stock valued at $53,000 pursuant to the transaction fee arrangement. As of January 31, 2013, an additional $7,000 was due Mr. Nunez under this arrangement at which time the transaction fee arrangement was terminated by mutual agreement. See also Note 4 – “Related Party Receivables.”

Common Stock Issued in Cancellation of Debt

On January 16, 2013, the Company issued its legal counsel a total of 8,000 shares of common stock in payment for $12,000 in legal services rendered for $1.50 per share.

12. Subsequent Events

On February 6, 2013, the Company entered into a Subscription Agreement with a major stockholder, Anthony Frank, to purchase up to $180,000 in shares of common stock at a purchase price of $0.85 per share over a three month period. Mr. Frank purchased 70,588 shares of common stock on February 6, 2013 and paid $60,000. An additional 70,588 shares were purchased under this arrangement on February 28, 2013 for $60,000.

On May 21, 2012, the Company entered into a Subscription Agreement with a major stockholder to purchase a total of 400,000 shares of the Company’s common stock at $0.50 per share, for a total of $200,000 which the Company received during fiscal 2012. As additional consideration, the purchaser was granted a one-year option to purchase up to an additional 66,667 shares of common stock at $1.50 per share commencing on the date the final dollars are invested. On February 6, 2013, this stockholder surrendered his rights to the referenced warrants in full.

On February 8, 2013, pursuant to a Written Consent of a Majority of Shareholders, the Company voted to amend its Articles of Incorporation to:

● Decrease the authorized number of Common Stock of the Company from 2.5 billion to 25 million shares; and

● Effect a 500-to-1 reverse split of all classes of its issued and outstanding shares of stock such that the following classes of shares would be reconstituted as of February 8, 2013 as follows:

	NUMBER OF SHARES ISSUED AND OUTSTANDING
TITLE OF SECURITIES	PRE-REVERSE SPLIT		POST-REVERSE SPLIT
Common Stock		2,397,818,199		4,795,636
Class B Common Stock		None		None
Convertible Preferred Stock		2,600,000		5,200
Preferred Stock		None		None

On February 22, 2013, the Company issued its legal counsel a total of 8,000 shares of common stock in payment for $8,000 in legal services rendered for $1.00 per share.

15

Item 2. Management’s Discussion and Analysis of Financial Condition and Plan of Operation

Forward-Looking Statements

This Quarterly Report, including the Notes to the Condensed Consolidated Financial Statements and the Management’s Discussion and Analysis of Financial Condition and Results of Operations, contains forward-looking statements. The words “believe,” “expect,” “anticipate,” “intends,” “projects,” and similar expressions identify forward-looking statements. Such statements may include, but are not limited to, projections regarding demand for the Company’s products, the impact of the Company’s development and manufacturing process on its research and development costs, future research and development expenditures, and the Company’s ability to obtain new financing as well as assumptions related to the foregoing. Readers are cautioned not to place undue reliance on forward-looking statements. They reflect opinions, assumptions, and estimates only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements in this Quarterly Report, whether as a result of new information, future events or circumstances, or otherwise.

Results of Operations

References to fiscal 2013 and fiscal 2012 are for the three month period ended January 31, 2013 and 2012, respectively.

The Company had no sales revenue during the three months ended January 31, 2013 or 2012.

Research and development expenses for the three month period ended January 31, 2013 increased by $40,746 compared to the prior year. These expenses arose from the program which the Company initiated in December 1997 to develop the micro imaging technology for detecting and identifying contaminants in fluids. The overall increase mainly reflects additional expenditures for salaries and related costs, consulting and marketing related expenses and modest increases in overall operating costs, i.e., utilities, supplies and software related to the development program for the Company’s technology.

Sales, general and administrative expenses increased by $4,851 for the three months ended January 31, 2013 compared to the prior year period. The increase, though minimal, reflects expanded operational activities resulting in higher costs for salaries and temporary labor, offices supplies, postage, utilities, etc. These increases were partially offset by reductions in consulting expenses, legal fees, shareholder relations expenses, as well as reduced expenditures for research and development supplies..

The Company realized negligible interest income during the three months ended January 31, 2013 as all available capital was utilized to sustain operations. Interest expense for the three month period ended January 31, 2013 decreased by $102,709 compared to the prior period reflecting the conversion of outstanding debt to equity in the past year.

The Company recognized $28,574 in non-cash gain for the three months ended January 31, 2012, related to certain convertible notes with beneficial conversion features (the Series 1 Notes) that were fully converted as of the fiscal year ended October 31, 2012.

Components of other income and expense reflect a gain of $762 in fiscal 2012 on writing off old debt.

The Company recorded the minimum state income tax provision in fiscal 2013 and 2012 as the Company had cumulative net operating losses in all tax jurisdictions.

Liquidity and Capital Resources

At January 31, 2013, the Company had working capital deficit of $679,391. This represents a working capital decrease of $150,725 compared to that reported at October 31, 2012. The decrease primarily reflects overall modest increases in current liabilities, i.e., accounts payable and accrued payroll, while utilizing available cash for operating activities.

16

Our only source of cash during the three months ended January 31, 2013 has been from the sale of common stock totaling $145,000, including $40,000 received upon the exercise of warrants. Management estimates that it utilized $64,600 per month in working capital on operations for the three months ended January 31, 2013, compared to the approximate $28,500 per month expended during the three month period ended January 31, 2012.

Plan of Operation

Our independent registered public accounting firm has included an explanatory paragraph in its report on the financial statements for the year ended October 31, 2012 which raises substantial doubt about our ability to continue as a going concern.

The Company is in the process of identifying commercial, technical and scientific partners that can aid in advancing the MIT expertise, provide external endorsements of the technology, and accelerate introduction to the market. This strategy is dependent upon our ability to identify and attract the right customers and partners over the next six month period and to secure sufficient additional working capital in a timely manner. There can be no assurances that our efforts will be successful or that the Company will be able to raise sufficient capital to implement our plans or to continue operations.

In April 2012, the Company commenced the production phase of its MIT 1000 Rapid Microbial Identification System with its Hawthorne, California-based manufacturing partner. The first of twenty Systems were received in July 2012, with three additional Systems received in November 2012. The Company participated in several food safety conferences during 2012 and brought significant attention to its MIT 1000 which has led to follow-up contacts from several high profile laboratories and research institutes. The Company continues to develop promotional materials and enhance its website with a view toward generating sales in the near future.

During the latter part of 2008, the Company appointed an exclusive distributor to sell our MIT products in Taiwan and China. The Company has entered into similar arrangements with five other companies granting distribution rights in Turkey, Bulgaria, the United Kingdom, Ireland, Puerto Rico and the Caribbean. In October 2009, the Company entered into a distribution agreement with a Biotek Sdn Bhd, a Malaysian distributor of research and scientific products for the Association of Southeast Asian Nations (ASEAN) (namely Malaysia, Singapore, Thailand, Brunei, Indonesia, Philippines, Vietnam, Cambodia, Laos and Myanmar). All of our distribution agreements remain in effect at this time.

The Company is in the process of developing and marketing and sales strategies with these and other future distributors which the Company believes will assist in generating sales revenues in the near future.

In April 2012, the Company submitted applications to the Association of Advanced Communities Research Institute (AOAC RI) for Performance Test Method Certification for the MIT 1000 System’s for accurate bacterial identifications of the pathogens E. coli and Salmonella. In June 2009, the Company received AOAC RI Certification for the identification of the Listeria bacteria species, a rare but lethal food-borne infection. When certified for certification for the two additional pathogenic bacteria identification processes, the Company’s System will have the proven capability of identifying over 90 percent of all bacteria-causing, food-related illnesses.

In the opinion of management, available funds and funds anticipated from forthcoming loans and equity sales are expected to satisfy our working capital requirements through April 2013. However, no assurances can be given that the Company will secure additional financing or revenues in a timely manner, if at all, or that such funds would be sufficient to achieve our intended business objectives.

17

The Company will be required to raise substantial amounts of new financing in the form of additional equity investments, loan financings, or from strategic partnerships, to carry out our business objectives. There can be no assurance that the Company will be able to obtain additional financing on terms that are acceptable to us and at the time required by us, or at all. Further, any financing may cause dilution of the interests of our current stockholders. If the Company is unable to obtain additional equity or loan financing, our financial condition and results of operations will be materially adversely affected. Moreover, estimates of our cash requirements to carry out our current business objectives are based upon various assumptions, including assumptions as to our revenues, net income or loss and other factors, and there can be no assurance that these assumptions will prove to be accurate or that unbudgeted costs will not be incurred. Future events, including the problems, delays, expenses and difficulties frequently encountered by similarly situated companies, as well as changes in economic, regulatory or competitive conditions, may lead to cost increases that could have a material adverse effect on us and our plans. If the Company is not successful in obtaining financing for future developments, whether in the form of loans, licenses or equity transactions, it is unlikely that the Company will have sufficient cash to continue to conduct operations, particularly research and development programs, as currently planned. The Company believes that in order to raise needed capital, the Company may be required to issue debt at significantly higher interest rates or equity securities that are significantly lower than the current market price of our common stock.

No assurances can be given that currently available funds will satisfy our working capital needs for the period estimated, or that the Company can obtain additional working capital through the sale of common stock or other securities, the issuance of indebtedness or otherwise or on terms acceptable to us. Further, no assurances can be given that any such equity financing will not result in a further substantial dilution to the existing stockholders or will be on terms satisfactory to us.

Item 3. Controls and Procedures

The Company’s management has carried out an evaluation, under the supervision and with the participation of the Company’s principal executive officer and principal financial officer, of the effectiveness of the Company’s “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Based on this evaluation, the Company’s principal executive officer and principal financial officer concluded that, as of the end of the period covered by this report, the Company’s disclosure controls and procedures were effective for the purpose of ensuring that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act, (1) is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms, and (2) is accumulated and communicated to the Company’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

In addition, based on that evaluation, there has been no change in the Company’s internal control over financial reporting that occurred during the Company’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

On May 16, 2012, Alpine MIT Partners, LLC (Plaintiffs) filed a civil action against the Company and its Chairman and Chief Executive Officer, Jeffrey G. Nunez, (collectively, the Company), in the Texas District Court, Travis County. Plaintiffs alleged breach of contract and civil conspiracy, as well as tortious interference with contractual relations and prospective business relations. The lawsuit alleges that the Company breached certain provisions of a March 7, 2012 Securities Purchase Agreement the Company executed with the Plaintiff to sell up to $2.0 million of 7% Senior Secured five-year Convertible Debentures convertible into shares of common stock at a conversion rate of $.003 per share. The purchase and sale of the first $1.0 million Debenture was scheduled to close on or before April 6, 2012 and was subject to, among other things, Alpine closing the necessary equity funding to consummate the transactions. No money was ever received by the Company from Alpine.

The lawsuit also suggests that the Company’s Chairman and Chief Executive Officer, Jeffrey G. Nunez, has a history of regulatory and securities law violations. The Company’s Board of Directors has researched the matter and understands that in January 2004, Mr. Nunez was requested by the NASD to appear and provide testimony pursuant to NASD Rule 8210. Mr. Nunez did not appear, but agreed not to associate in any capacity, in the future, with NASD member firms. The Company’s Board of Directors believes this to be of no consequence with respect to Mr. Nunez’ qualifications to serve as a board member and chief executive officer of the Company.

18

At a hearing on March 7, 2013, the court dismissed the lawsuit against the Company upholding its motion that the Texas court had no jurisdiction over the matter.

On January 10, 2013, the Company learned that Plaintiffs had filed a lien against the Company’s patents on May 8, 2012 with the California Secretary of State under the Uniform Commercial Code. On or about January 29, 2013, the Company filed suit against Alpine MIT Partners, LLC in the Orange County, California Superior Court alleging, among other claims, that the UCC filing is unauthorized. The lawsuit also names the managing director and managing member of Alpine as Defendants and alleges that they made false promises, intentional misrepresentations and breached the contract which is the subject of the Texas suit. The Company is seeking damages of $1.6 million.

Item 2. Changes in Securities

On November 29, 2012, the Company issued 200,000 shares of common stock to Gregg Newhuis, a Director of the Company, for proceeds of $100,000, or $0.50 per share.

On January 11, 2013, a major stockholder of the Company exercised a warrant to purchase 40,000 shares of common stock at $1.00 per share and the Company received $40,000 pursuant to the exercise.

On January 11, 2013, the Company’s Chief Financial Officer, Victor Hollander, purchased 3,333 shares of Common Stock for proceeds of $5,000, or $1.50 per share.

On January 16, 2013, the Company issued 8,000 shares of common stock in payment for legal services rendered valued at $12,000.

Items 3 through 5. Omitted as not applicable.

Item 6. Exhibits and Reports on Form 8-K

(a) Exhibits:

31.1	Certification of Chief Executive Officer *
31.2	Certification of Chief Financial Officer *
32.1	906 Certification of Chief Executive Officer *
32.2	906 Certification of Chief Financial Officer *
101**	Interactive Data Files of Financial Statements and Notes formatted in Extensible Business Reporting Language (XBRL).

_______________

* Filed herewith

** XBRL information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Exchange Act of 1933, as amended, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

(b) Reports on Form 8-K.

None.

19

SIGNATURES

Pursuant to the requirements of the Securities Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: March 18, 2013	MICRO IMAGING TECHNOLOGY, INC.
	By	/s/ Victor A. Hollander
		Victor A. Hollander
		(Chief Financial Officer with responsibility to sign on behalf of Registrant as a duly authorized officer and principal financial officer)

20

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER
PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Jeffrey G. Nunez, certify that:

1.        I have reviewed this quarterly report on Form 10-Q for the three months ended January 31, 2013, of Micro Imaging Technology, Inc.;

2.        Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.        Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.        The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the Registrant and have:

(a)        Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated Subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)        Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)        Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)        Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5.        The Registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of Registrant’s board of directors (or persons performing the equivalent functions):

(a)        All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

(b)        Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Dated: March 18, 2013
	/s/ Jeffrey G. Nunez
	Jeffrey G. Nunez
	Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Victor A. Hollander, certify that:

1.        I have reviewed this quarterly report on Form 10-Q for the three months ended January 31, 2013, of Micro Imaging Technology, Inc.;

2.        Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.        Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.        The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the Registrant and have:

(e)        Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated Subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(f)        Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(g)        Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(h)        Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5.        The Registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of Registrant’s board of directors (or persons performing the equivalent functions):

(a)        All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

(b)        Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Dated: March 18, 2013
	/s/ Victor A. Hollander
	Victor A. Hollander
	Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

Pursuant to 18 U.S.C. 1350

(Section 906 of the Sarbanes-Oxley Act of 2002)

In connection with the Quarterly Report of Micro Imaging Technology, Inc. (formerly, Electropure, Inc.) (the “Company”) on Form 10-Q for the three months ended January 31, 2013 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Jeffrey G. Nunez, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the consolidated financial condition and results of operations of the Company.

/s/ Jeffrey G. Nunez

Jeffrey G. Nunez

President and Chief Executive Officer

March 18, 2013

EX-32.2

EXHIBIT 32.2

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

Pursuant to 18 U.S.C. 1350

(Section 906 of the Sarbanes-Oxley Act of 2002)

In connection with the Quarterly Report of Micro Imaging Technology, Inc. (formerly, Electropure, Inc.) (the “Company”) on Form 10-Q for the three months ended January 31, 2013 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Victor A. Hollander, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(3) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(4) The information contained in the Report fairly presents, in all material respects, the consolidated financial condition and results of operations of the Company.

/s/ Victor A. Hollander

Victor A. Hollander

Chief Financial Officer

March 18, 2013

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Employee Retirement Plan (Details Narrative)	3 Months Ended
	Jan. 31, 2013
Compensation and Retirement Disclosure [Abstract]
Percentage of employer contribution	3.00%

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Convertible Debentures (Details Narrative) (USD $)	0 Months Ended	3 Months Ended	0 Months Ended	3 Months Ended
	Nov. 10, 2010	Jan. 31, 2013	Nov. 27, 2009 Unaffiliated Lender [Member]	Jan. 31, 2013 Unaffiliated Lender [Member]
Borrowed from related parties	$ 64,868		$ 25,000
Percentage of convertible notes interest rate	10.00%		6.00%
Percentage of discount on price of common stock	42.00%		55.00%
Intrinsic value of conversion feature		46,973	10,507
Accrued interest		14,449	2,876	1,021
Maturity date		Jan. 31, 2013	Dec. 31, 2012	Jan. 31, 2013
Shares of common stock on conversion		117,728	17,084	29,240
Principal amount		$ 117,610	$ 12,500	$ 12,500

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Concentration of Credit Risk and Other Risks and Uncertainties (Details Narrative) (USD $)	0 Months Ended
	Jan. 10, 2013	Sep. 20, 2012	May 16, 2012	Apr. 06, 2012	Jan. 31, 2013	Oct. 31, 2012	Sep. 09, 2012
Amount due to former consultant					$ 112,000
Percentage of amount due for accounts payable to non-affiliates					52.00%
Senior secure convertible debentures			2,000,000
Percentage of seior secured convertible debentures			7.00%
Purchase and sale of debenture				1,000,000
Damages paid	1,600,000
Anti-dilution liability					65,401	65,401
Estimated penalties and interest accrued					27,029
Unpaid tax, penaties and interest		58,857.6
Loss contingency accrued tax penalty and interest							$ 8,206

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Subsequent Events - Schedule of Common Stock Reverse Split (Details)	3 Months Ended
	Jan. 31, 2013
Common Stock [Member]
Number of shares issued and outstanding pre-reverse split
Number of shares issued and outstanding post-reverse split
Preferred Stock [Member]
Number of shares issued and outstanding pre-reverse split
Number of shares issued and outstanding post-reverse split
Class B Common Stock [Member]
Number of shares issued and outstanding pre-reverse split	2,397,818,199
Number of shares issued and outstanding post-reverse split	4,795,636
Convertible Preferred Stock [Member]
Number of shares issued and outstanding pre-reverse split	2,600,000
Number of shares issued and outstanding post-reverse split	5,200

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Notes Payable - Schedule of Unamortized Discounts, Notes Payable to Officers and Stockholders (Details) (USD $)	Jan. 31, 2013	Oct. 31, 2012
Notes payable gross	$ 188,950	$ 166,450
Less current maturities	142,000	142,000
Long term portion of notes payable	46,950	24,450
Unsecured, Interest-Free Convertible Notes Payable To Former Officer/Director Of The Company; Principal Due On Payment Schedule Through May 2014 [Member]
Notes payable gross	114,450	136,950
Unsecured Convertible Note Payable To Various Stockholders; Principal And Interest At 6% Due Between December 9, 2010 And March 31, 2011 [Member]
Notes payable gross	$ 52,000	$ 52,000

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Related Party Receivables

3 Months Ended

Jan. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions

4. Related Party Receivables

Receivables from related parties are non-interest bearing, uncollateralized obligations and consist of a $2,000 advance to one recently hired employee in October 2012 to assist with moving expenses. The balance of $10,015 represents the amount which the Company’s President, Jeffrey Nunez, has received in excess of fees and expenses due to him since becoming employed by the Company in April 2012. The preparation of financial statements requires our management to make estimates and assumptions relating to the collectivity of our accounts receivable. Management believes that the referenced receivables are collectible and as of October 31, 2012 and January 31, 2012, the Company has determined that no Allowance for Doubtful Accounts was required.

See also Note 11 – “Securities Transactions.”

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Summary of Significant Accounting Policies - Schedule of Options Granted Under the Company's Equity Compensation Plans (Details) (USD $)	3 Months Ended
	Jan. 31, 2013
Accounting Policies [Abstract]
Number of Options, Outstanding, Balance	5,600
Number of Options, Granted
Number of Options, Exercised
Number of Options, Expired	(1,000)
Number of Options, Canceled
Number of Options, Outstanding, Balance	4,600
Weighted Average Exercise Price, Outsatnding, Balance	$ 40.00
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Expired	$ 145.00
Weighted Average Exercise Price, Canceled
Weighted Average Exercise Price, Outstanding, Balance	$ 19.29
Weighted Average Remaining Contractual Term (in years), Outstanding, Balance	1 year 2 months 12 days
Weighted Average Remaining Contractual Term (in years), Outstanding, Balance	1 year 2 months 12 days
Aggregate Intrinsic Value, Outstanding, Balance
Aggregate Intrinsic Value, Outstanding, Balance

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Summary of Significant Accounting Policies (Details Narrative) (USD $)	0 Months Ended								3 Months Ended	87 Months Ended
	Feb. 22, 2013	Feb. 08, 2013	Feb. 06, 2013	Jan. 16, 2013	Jan. 16, 2013	Nov. 29, 2012	May 21, 2012	Apr. 20, 2012	Jan. 31, 2012	Jan. 31, 2013	Feb. 14, 2012
Accounting Policies [Abstract]
Employee Benefit Plan, shares authorized											120,000
Stock issued for consideration of services render, shares	8,000			8,000	8,000
Stock issued for consideration of services render	$ 8,000			$ 12,000	$ 12,000				$ 906	$ 3,211,491
Stock issued for consideration of services render, price per share	$ 1.00	$ 1.00	$ 1.50	$ 1.50	$ 1.50	$ 0.50	$ 0.50	$ 0.75

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Summary of Significant Accounting Policies - Schedule of Stock Options Outstanding (Details) (USD $)	3 Months Ended
	Jan. 31, 2013	Oct. 31, 2012
Options outstanding	4,600	5,600
Weighted Average Remaning Contractual Life	1 year 2 months 12 days
Weighted Average Exercise Price	$ 19.29	$ 40.00
Options Exersable	4,600
Range One [Member]
Range of Exercise Prices, lower limit	$ 1.00
Range of Exercise Prices, upper limit	$ 70.00
Options outstanding	4,400
Weighted Average Remaning Contractual Life	1 year 2 months 12 days
Weighted Average Exercise Price	$ 13.50
Options Exersable	4,400
Weighted Average Exercise Price, Exersable	$ 13.50
Range Two [Member]
Range of Exercise Prices, lower limit
Range of Exercise Prices, upper limit	$ 150.00
Options outstanding	200
Weighted Average Remaning Contractual Life	6 months
Weighted Average Exercise Price	$ 150.00
Options Exersable	200
Weighted Average Exercise Price, Exersable	$ 150.00

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Summary of Significant Accounting Policies - Schedule of Warrants Granted to Non-employees (Details) (USD $)	3 Months Ended
	Jan. 31, 2013
Number of Warrants, Outstanding, Balance	106,667
Warrant [Member]
Number of Warrants, Outstanding, Balance	146,667
Number of Warrants, Granted
Number of Warrants, Exercised	(40,000)
Number of Warrants, Expired
Number of Warrants, Canceled
Number of Warrants, Outstanding, Balance	106,667
Weighted Average Exercise Price, Outstanding, Balance	$ 1.00
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Exercised	$ 1.00
Weighted Average Exercise Price, Expired
Weighted Average Exercise Price, Canceled
Weighted Average Exercise Price, Outstanding, Balance	$ 1.31
Weighted Average Remaining Contractual Term (in years), Outstanding, Balance	1 year 9 months 18 days
Weighted Average Remaining Contractual Term (in years), Outstanding, Balance	1 year 2 months 12 days
Aggregate Intrinsic Value, Outstanding, Balance
Aggregate Intrinsic Value, Outstanding, Balance

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Concentration of Credit Risk and Other Risks and Uncertainties

3 Months Ended

Jan. 31, 2013

Risks and Uncertainties [Abstract]

Concentration of Credit Risk and Other Risks and Uncertainties

3.	Concentration of Credit Risk and Other Risks and Uncertainties
	Accounts Payable – Trade

As of January 31, 2013, the amount due to a former consultant to the Company, $112,000, represented 52% of the total amount due for accounts payable to non-affiliates.

Litigation and Claims

On May 16, 2012, Alpine MIT Partners, LLC (Plaintiffs) filed a civil action against the Company and its Chairman and Chief Executive Officer, Jeffrey G. Nunez, (collectively, the Company), in the Texas District Court, Travis County. Plaintiffs alleged breach of contract and civil conspiracy, as well as tortious interference with contractual relations and prospective business relations. The lawsuit alleges that the Company breached certain provisions of a March 7, 2012 Securities Purchase Agreement the Company executed with the Plaintiff to sell up to $2.0 million of 7% Senior Secured five-year Convertible Debentures convertible into shares of common stock at a conversion rate of $.003 per share. The purchase and sale of the first $1.0 million Debenture was scheduled to close on or before April 6, 2012 and was subject to, among other things, Alpine closing the necessary equity funding to consummate the transactions. No money was ever received by the Company from Alpine.

The lawsuit also suggests that the Company’s Chairman and Chief Executive Officer, Jeffrey G. Nunez, has a history of regulatory and securities law violations. The Company’s Board of Directors has researched the matter and understands that in January 2004, Mr. Nunez was requested by the NASD to appear and provide testimony pursuant to NASD Rule 8210. Mr. Nunez did not appear, but agreed not to associate in any capacity, in the future, with NASD member firms. The Company’s Board of Directors believes this to be of no consequence with respect to Mr. Nunez’ qualifications to serve as a board member and chief executive officer of the Company.

The Company argued that the lawsuit was improperly filed in Texas and that the Texas court had no jurisdiction over the Company in this matter. At a hearing on March 7, 2013, the court upheld the Company’s position and dismissed the case against the Company.

On January 10, 2013, the Company learned that Plaintiffs had filed a lien against the Company’s patents on May 8, 2012 with the California Secretary of State under the Uniform Commercial Code. On or about January 29, 2013, the Company filed suit against Alpine MIT Partners, LLC in the Orange County, California Superior Court alleging, among other claims, that the UCC filing is unauthorized. The lawsuit also names the managing director and managing member of Alpine as Defendants and alleges that they made false promises, intentional misrepresentations and breached the contract which is the subject of the Texas suit. The Company is seeking damages of $1.6 million.

In accordance with accounting standards regarding loss contingencies, the Company accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated, and the Company discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if such disclosure is necessary for its financial statements not to be misleading. The Company does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated, or when the liability is believed to be only reasonably possible or remote.

Because litigation outcomes are inherently unpredictable, the Company’s evaluation of legal proceedings often involves a series of complex assessments by management about future events and can rely heavily on estimates and assumptions. If the assessments indicate that loss contingencies that could be material to any one of its financial statements are not probable, but are reasonably possible, or are probable, but cannot be estimated, then the Company discloses the nature of the loss contingencies, together with an estimate of the range of possible loss or a statement that such loss is not reasonably estimable. Since the lawsuit filed against the Company in Texas has been dismissed, no loss contingency has been accrued.

Antidilution Liability

The Company has recorded a $65,401 liability to allow for the possible dilutive impact of equity issuances that alter or effect conversion or exchange rates existing on the various dates of conversion or exercise of securities having adjustable conversion rates.

Accrued Payroll, Payroll Taxes and Benefits

From April 2010 through March 2012, payments made to two employees were recorded as reductions in accrued and unpaid payroll. In April 2012, the Company reclassified such payments as net payroll payments; calculated and recorded the employer and employee taxes that should have been withheld on such payment. Federal and state payroll tax returns have been filed for the last three quarters of 2010, all of 2011 and the first quarter of 2012. Estimated penalties and interest on the late filings and payments, in the sum of $27,029, have been accrued as of January 31, 2013. On September 20, 2012, the Internal Revenue Service filed a Notice of Federal Tax Lien against the Company assessing $58,857.60 for unpaid taxes, penalties and interest. A Notice of Tax Lien was also filed by the State of California on November 9, 2012 in the amount of $8,206, including penalty and interest, The Company has been in contact with the respective tax authorities in an effort to negotiate a payment arrangement for the taxes due.

Accrued Payroll and Benefits consist of the above payroll taxes and salaries, wages, and vacation benefits earned by employees, but not disbursed as of January 31, 2013. Accrued Payroll also includes the above estimated penalties and interest due on such unpaid payroll taxes. Liability for vacation benefits is accrued when earned monthly and reduced when taken. At the end of each fiscal period, the balance in the accrued vacation benefits liability account is adjusted to reflect current pay rates. Annual leave earned but not taken is considered an unfunded liability since this leave will be funded from future appropriations when it is actually taken by employees.

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Summary of Significant Accounting Policies - Schedule of Warrants Outstanding (Details) (USD $)	3 Months Ended
	Jan. 31, 2013
Warrants Outstanding	106,667
Warrants Exersable	106,667
Range One [Member]
Range of Exercise Prices, lower limit	$ 1.00
Warrants Outstanding	40,000
Weighted Average Remaining Contractual Life	2 years 2 months 12 days
Weighted Average Exercise Price	$ 1.00
Warrants Exersable	40,000
Weighted Average Exercise Price	$ 1.00
Range Two [Member]
Range of Exercise Prices, lower limit	$ 1.50
Warrants Outstanding	66,667
Weighted Average Remaining Contractual Life	6 months
Weighted Average Exercise Price	$ 1.50
Warrants Exersable	66,667
Weighted Average Exercise Price	$ 1.50

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Securities Transactions (Details Narrative) (USD $)	0 Months Ended									3 Months Ended	87 Months Ended		0 Months Ended				1 Months Ended	6 Months Ended	0 Months Ended	6 Months Ended
	Feb. 22, 2013	Feb. 08, 2013	Feb. 06, 2013	Jan. 16, 2013	Jan. 16, 2013	Jan. 11, 2013	Nov. 29, 2012	May 21, 2012	Apr. 20, 2012	Jan. 31, 2012	Jan. 31, 2013	Nov. 10, 2010	Apr. 20, 2012 Year One [Member]	Apr. 20, 2012 Year Two [Member]	Apr. 20, 2012 Year Three [Member]	Nov. 29, 2012 Gregg J. Newhuis [Member}	Sep. 30, 2012 Gregg J. Newhuis [Member}	Oct. 31, 2012 Gregg J. Newhuis [Member}	Jan. 11, 2013 Victor Hollander [Member]	Oct. 31, 2012 Jeffrey Nunez [Member]	Jan. 31, 2013 Jeffrey Nunez [Member]
Sale or issuance of common stock in private placement, shares																		1,800,000
Sale of common stock, price per share																		$ 0.50	$ 1.50
Stock options grants in during period for purchase of common stock, number																	266,667
Stock options grants in during period for purchase of common stock, price per share																	$ 1.50
Mr. Newhuis payment to Company																$ 100,000
Common stock issued, reverse stock split		40,000					200,000
Common shares price per share	$ 1.00	$ 1.00	$ 1.50	$ 1.50	$ 1.50		$ 0.50	$ 0.50	$ 0.75
Warrants issued to purchase of common stock, number									80,000
Warrants exercisable price													$ 1.00	$ 2.50	$ 5.00
Exercise of warrants, reverse split						80,000
Warrants granted and paid						40,000
Sale of stock to officers																			3,333
Proceeds from sale of common stock																			5,000
Percentage of transaction fee																				5.00%
Common stock during period issued for transaction fees, shares																				35,512
Ccommon stock issued during period for transaction fees																				53,000
Additional due to related parties												64,868									7,000
Stock issued for services, shares	8,000			8,000	8,000
Stock issued for services	$ 8,000			$ 12,000	$ 12,000					$ 906	$ 3,211,491

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Consolidated Balance Sheets (Unaudited) (USD $)	Jan. 31, 2013	Oct. 31, 2012
Current assets:
Cash	$ 2,962	$ 90,132
Related party receivables	12,015	15,269
Inventories	67,487	25,600
Prepaid expenses	16,141	31,120
Total current assets	98,605	162,121
Fixed assets, net	113,777	123,041
Total assets	212,382	285,162
Current liabilities:
Notes payable to stockholder, net of unamortized discount of $4,263 and $5,536 in 2013 and 2012, respectively	137,737	136,464
Convertible notes payable, net of unamortized discount of $0 and $3,202 in 2013 and 2012, respectively	77,368	74,166
Accounts payable - trade	216,743	171,578
Accounts payable to officers and directors	62,218	45,583
Accrued payroll	157,362	139,040
Anti-dilution liability	65,401	65,401
Other accrued expenses	61,167	58,555
Total current liabilities	777,996	690,787
Long term liabilities:
Note payable to stockholder, net of unamortized discount of $262 and $844 in 2013 and 2012, respectively	24,188	46,106
Redeemable convertible preferred stock, $0.01 par value; 5,200 shares authorized, issued and outstanding at January 31, 2013 and October 31, 2012	26,000	26,000
Total long term liabilities	50,188	72,106
Total liabilities	828,184	762,893
Stockholders' deficit:
Common stock, $0.01 par value; 25,000,000 shares authorized; 4,725,048 and 4,473,715 shares issued and outstanding at January 31, 2013 and October 31, 2012, respectively	47,250	44,737
Additional paid-in capital	45,043,499	44,889,013
Accumulated deficit from previous operating activities	(27,809,201)	(27,809,201)
Deficit accumulated during the development stage	(17,897,350)	(17,602,280)
Total stockholders' deficit	(615,802)	(477,731)
Total liabilities and stockholders' deficit	$ 212,382	$ 285,162

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Nature of our Business, Development Stage Company and Continuance of Operations

3 Months Ended

Jan. 31, 2013

Nature Of Our Business Development Stage Company And Continuance Of Operations

Nature of our Business, Development Stage Company and Continuance of Operations

1. Nature of our Business, Development Stage Company and Continuance of Operations

These unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America applicable to a going concern which contemplated the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. Since inception, the Company has incurred substantial losses and there is substantial doubt that the Company will generate sufficient revenues in the foreseeable future to meet its operating cash requirements. Accordingly, the Company’s ability to continue operations depends on its success in obtaining additional capital in an amount sufficient to meet its cash needs. This raises substantial doubt about its ability to continue as a going concern. These financial statements do not include any adjustments that might result from this uncertainty.

Our independent registered public accounting firm has included an explanatory paragraph in its report on the financial statements for the year ended October 31, 2012 which raises substantial doubt about our ability to continue as a going concern.

Micro Imaging Technology, Inc. (the “Company”), a California corporation, is a holding company whose operations are conducted through its Nevada subsidiary, Micro Imaging Technology (“MIT”). As of January 31, 2013, the Company owned eighty point seven percent (80.7%) of the issued and outstanding stock of MIT.

The losses incurred to date which are applicable to the minority stockholders of the Company’s consolidated subsidiary, MIT, exceed the value of the equity held by the minority stockholders. Such losses have been allocated to the Company as the majority stockholder and are included in the net loss and accumulated deficit in the condensed consolidated financial statements for the three months ended January 31, 2013. Any future profits reported by our subsidiary will be allocated to the Company until the minority’s share of losses previously absorbed by the Company have been recovered.

In 1997, the Company began marketing a small, point-of-use water treatment product aimed at the high purity segment of commercial and industrial water treatment markets. In February 2000, the Company formed Electropure EDI, Inc. (EDI), a wholly-owned Nevada subsidiary, through which all manufacturing and sales of its proprietary water treatment products were then conducted. In October 2005, the Company sold the assets of the EDI subsidiary and discontinued operations.

The Company acquired, in October 1997, an exclusive license to the patent and intellectual property rights involving laser light scattering techniques to be utilized in the detection and monitoring of toxicants in drinking water. In February 2000, the Company formed Micro Imaging Technology (MIT), a majority-owned Nevada subsidiary, to conduct research and development based upon advancements developed and patented from the licensed technology. The technology being developed is a non-biologically based system utilizing both proprietary hardware and software to rapidly (near real time) determine the specific specie of an unknown microbe present in a fluid with a high degree of statistical probability (“MIT system”). It will analyze a sample presented to it and compare its characteristics to a library of known microbe characteristics on file. At present, it is the Company’s only operation.

Effective with the sale of its EDI operation in October 2005, the Company’s planned principal operation, the further development and marketing of its remaining technology, has not produced any significant revenue and, as such, the Company, beginning with the fiscal year starting November 1, 2005, is considered a development stage enterprise.

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Convertible Debentures - Schedule of Convertible Debentures (Details) (Parenthetical)	3 Months Ended		3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2013	Nov. 10, 2010	Jan. 31, 2013 Convertible Note Payable at 10% Due on May 31, 2012 [Member]	Oct. 31, 2012 Convertible Note Payable at 10% Due on May 31, 2012 [Member]	Jan. 31, 2013 Convertible Notes Payable at 6% Maturing on December 31, 2012 [Member]	Oct. 31, 2012 Convertible Notes Payable at 6% Maturing on December 31, 2012 [Member]
Convertible notes payable, interest rate		10.00%	10.00%	10.00%	6.00%	6.00%
Convertible notes payable, maturity date	Jan. 31, 2013		May 31, 2012	May 31, 2012	Dec. 31, 2012	Dec. 31, 2012

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Subsequent Events (Tables)

3 Months Ended

Jan. 31, 2013

Subsequent Events Tables

Schedule of Common Stock Reverse Split

	NUMBER OF SHARES ISSUED AND OUTSTANDING
TITLE OF SECURITIES	PRE-REVERSE SPLIT		POST-REVERSE SPLIT
Common Stock		2,397,818,199		4,795,636
Class B Common Stock		None		None
Convertible Preferred Stock		2,600,000		5,200
Preferred Stock		None		None

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Notes Payable (Details Narrative) (USD $)	Jan. 31, 2013	Apr. 13, 2013 Chief Executive Officer [Member]	Jan. 31, 2013 Officer And Director [Member]
Principal loans amount		$ 160,000
Accrued interest		24,339
Unpaid fees and expenses		13,120
Outstanding principal balance	$ 117,610		$ 114,450

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Basis of Presentation (Details Narrative) (USD $)

0 Months Ended

3 Months Ended

Feb. 08, 2013

Jan. 31, 2013

Oct. 31, 2012

Common stock reverse stock split

 Effect a 500-to-1 reverse split of all classes of its issued and outstanding shares of stock such that the following classes of shares would be reconstituted as of February 8, 2013

 one-for-five hundred (1:500) reverse stock split

Decreased in authorized common stock

25,000,000

25,000,000

Increase in additional paid in capital

$ 23,577,990

Maximum [Member]

Decreased in authorized common stock

25,000,000

Minimum [Member]

Decreased in authorized common stock

2,500,000,000

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Basis of Presentation

3 Months Ended

Jan. 31, 2013

Basis Of Presentation

Basis of Presentation

2. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include all adjustments, consisting solely of normal recurring adjustments which management believes are necessary for a fair presentation of the Company’s financial position at January 31, 2013 and results of operations for the periods presented.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted.

Results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. The accompanying condensed consolidated financial statements should be read in conjunction with our audited financial statements and footnotes as of and for the year ended October 31, 2012, included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on January 29, 2013.

Changes in Capitalization and Reverse Stock Split

On February 8, 2013, the Company effectively amended its Articles of Incorporation and decreased the authorized number of shares of Common Stock from 2.5 billion to 25 million shares. At the same time, the Company underwent a one-for-five hundred (1:500) reverse stock split of its Common Stock and Redeemable Convertible Preferred Stock. For purposes of this Quarterly Report, all issuances of common stock and options or warrants to purchase common stock, if any, are reflected retroactively in post-reverse split amounts. As of January 31, 2013, the reverse split effected by the Company resulted in a reduction in capital stock and an increase in additional paid-in capital in the amount of $23,577,990. See also Item 12 – “Subsequent Events.”

Reclassification of Prior Year Presentation

Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations. This change in classification does not materially affect previously reported cash flows in the Consolidated Statement of Cash Flows, and had no effect on the previously reported Consolidated Statement of Operations for any period.

Going Concern

The accompanying financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. The Company has not generated revenue, and has negative cash flows from operations, which raise substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern and appropriateness of using the going concern basis is dependent upon, among other things, additional cash infusion. The Company has obtained funds from several shareholders and believes this funding will continue. Management believes the existing shareholders will provide the additional cash needed to meet the Company’s obligations as they become due, and will allow the development of its core business.

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Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Jan. 31, 2013	Oct. 31, 2012
Statement of Financial Position [Abstract]
Notes payable, unamortized discount, current	$ 4,263	$ 5,536
Convertible notes payable, unamortized discount, current	0	3,202
Notes payable, unamortized discount, noncurrent	$ 262	$ 844
Redeemable convertible preferred stock, par value	$ 0.01	$ 0.01
Redeemable convertible preferred stock, shares authorized	5,200	5,200
Redeemable convertible preferred stock, shares issued	5,200	5,200
Redeemable convertible preferred stock, shares outstanding	5,200	5,200
Common stock, par value		$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	4,725,048	4,473,715
Common stock, shares outstanding	4,725,048	4,473,715

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Subsequent Events

3 Months Ended

Jan. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

12. Subsequent Events

On February 6, 2013, the Company entered into a Subscription Agreement with a major stockholder, Anthony Frank, to purchase up to $180,000 in shares of common stock at a purchase price of $0.85 per share over a three month period. Mr. Frank purchased 70,588 shares of common stock on February 6, 2013 and paid $60,000. An additional 70,588 shares were purchased under this arrangement on February 28, 2013 for $60,000.

On May 21, 2012, the Company entered into a Subscription Agreement with a major stockholder to purchase a total of 400,000 shares of the Company’s common stock at $0.50 per share, for a total of $200,000 which the Company received during fiscal 2012. As additional consideration, the purchaser was granted a one-year option to purchase up to an additional 66,667 shares of common stock at $1.50 per share commencing on the date the final dollars are invested. On February 6, 2013, this stockholder surrendered his rights to the referenced warrants in full.

On February 8, 2013, pursuant to a Written Consent of a Majority of Shareholders, the Company voted to amend its Articles of Incorporation to:

● Decrease the authorized number of Common Stock of the Company from 2.5 billion to 25 million shares; and

● Effect a 500-to-1 reverse split of all classes of its issued and outstanding shares of stock such that the following classes of shares would be reconstituted as of February 8, 2013 as follows:

	NUMBER OF SHARES ISSUED AND OUTSTANDING
TITLE OF SECURITIES	PRE-REVERSE SPLIT		POST-REVERSE SPLIT
Common Stock		2,397,818,199		4,795,636
Class B Common Stock		None		None
Convertible Preferred Stock		2,600,000		5,200
Preferred Stock		None		None

On February 22, 2013, the Company issued its legal counsel a total of 8,000 shares of common stock in payment for $8,000 in legal services rendered for $1.00 per share.

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Document and Entity Information	3 Months Ended
	Jan. 31, 2013	Mar. 08, 2013
Document And Entity Information
Entity Registrant Name	MICRO IMAGING TECHNOLOGY, INC.
Entity Central Index Key	0000808015
Document Type	10-Q
Document Period End Date	Jan. 31, 2013
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		4,874,225
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2013

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Jan. 31, 2013

Accounting Policies [Abstract]

New Accounting Pronouncements

New Accounting Pronouncements

The following accounting standards updates were recently issued and have not yet been adopted by us. These standards are currently under review to determine their impact on our consolidated financial position, results of operations, or cash flows. There were various other updates recently issued which represented technical corrections to the accounting literature or application to specific industries. None of the other updates are expected to a have a material impact on our consolidated financial position, results of operations or cash flows.

January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.

On February 7, 2013, the FASB issued Accounting Standards Update [ASU] 2013-03, entitled Clarifying the Scope and Applicability of a Particular Disclosure to Nonpublic Entities. The guidance in ASU 2013-03 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 825, entitled Financial Instruments. The objective associated with issuing this amended guidance is to clarify the scope and applicability of a particular disclosure for nonpublic entities [non issuers] that resulted from the issuance of ASU 2011-04, entitled Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs, where that amended guidance essentially served to rewrite the guidance in FASB ASC 820, entitled Fair Value Measurement. The ASU 2013-03 amendments to FASB ASC 825 became effective upon issuance of the guidance. Since the amendments were issued on February 7, 2013, that date serves as the effective date of the amended guidance. The adoption of ASU 2013-03 is not expected to have a material effect on the Company’s operating results or financial position.

Earnings Per Share

Earnings Per Share

Basic earnings per share are based on the weighted average number of shares outstanding for a period. Diluted earnings per share are based upon the weighted average number of shares and potentially dilutive common shares outstanding. Potential common shares outstanding principally include convertible notes payable and stock options under our stock plan. Since the Company has incurred losses, the effect of any common stock equivalent would be anti-dilutive.

Stock Based Compensation

Stock Based Compensation

Stock-based compensation costs for stock options issued to employees is measured at the grant date, based on the fair value of the award using the Black Scholes Option Pricing Model, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity grant).

No stock-based compensation was recognized during the three months ended January 31, 2013.

On February 14, 2012, the Board of Directors adopted the 2012 Employee Benefit Plan which is authorized to grant up to 120,000 shares of common stock or options to purchase common stock to eligible employees, directors, officers, consultants or advisors. Eligibility is determined by the Board of Directors. On January 16, 2013, the Company issued 8,000 shares of common stock under the Plan to legal counsel for services rendered. The value of the shares was $12,000, or $1.50 per share. See also Note 12 – “Subsequent Events.”

The following table summarizes information about options granted under the Company’s equity compensation plans through January 31, 2013 and otherwise to employees, directors and consultants of the Company. Generally, options vest on an annual pro rata basis over various periods of time and are exercisable, upon proper notice, in whole or in part at any time upon vesting. Typically, in the case of an employee, vested options terminate when an employee leaves the Company. The options granted have contractual lives ranging from two to ten years.

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at October 31, 2012		5,600		$	40.00		1.2	$	—
Granted		—			—
Exercised		—			—
Expired		(1,000	)		145.00
Canceled		—			—
Outstanding at January 31, 2013		4,600		$	19.29		1.2	$	—

Summary information about the Company’s options outstanding at January 31, 2013 is set forth in the table below. Options outstanding at January 31, 2013 expire between August 2013 and January 2016.

Range of Exercise Prices	Options Outstanding January 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Options Exercisable January 31, 2013		Weighted Average Exercise Price
$ 1.00-$70.00		4,400		1.2	$	13.50		4,400	$	13.50
$150.00		200		0.5	$	150.00		200	$	150.00
TOTAL:		4,600						4,600

As of January 31, 2013, all outstanding options had fully vested and there was no estimated unrecognized compensation from unvested stock options.

The following table summarizes the information relating to warrants granted to non-employees as of October 31, 2011 and changes during the three months ended January 31, 2013:

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at October 31, 2012		146,667		$	1.00		1.8	$	—
Granted		—			—
Exercised		(40,000	)		1.00
Expired		—			—
Canceled		—			—
Outstanding at January 31, 2013		106,667		$	1.31		1.2	$	—

Summary information about the Company’s warrants outstanding at January 31, 2013 is set forth in the table below. Warrants outstanding at January 31, 2013 expire between September 2013 and April 2015. See also Note 12 – “Subsequent Events.”

Range of Exercise Prices		Warrants Outstanding January 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Warrants Exercisable January 31, 2013		Weighted Average Exercise Price
$	1.00		40,000		2.2	$	1.00		40,000	$	1.00
$	1.50		66,667		0.6	$	1.50		66,667	$	1.50
			106,667						106,667

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Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		87 Months Ended
	Jan. 31, 2013	Jan. 31, 2012	Jan. 31, 2013
Income Statement [Abstract]
Sales			$ 58,000
Cost of Sales			29,886
Gross profit			28,114
Operating costs and expenses:
Research and development	143,310	102,564	5,574,638
Sales, general and administrative	142,236	137,385	8,053,316
Total operating expenses	285,546	239,949	13,627,954
Loss from operations	(285,546)	(239,949)	(13,599,840)
Other income (expense):
Interest income	11		11,462
Interest expense	(7,935)	(110,644)	(4,918,525)
Gain on derivative instruments		28,574	149,304
Other income, net		762	473,049
Total other expense, net	(7,924)	(81,308)	(4,284,710)
Loss from operations:
Before provision for income tax	(293,470)	(321,257)	(17,884,550)
Provision for income tax	(1,600)	(1,600)	(12,800)
Net loss	(295,070)	(322,857)	(17,897,350)
Net loss attributable to:
Non-controlling interest	(39,955)	(30,818)	(1,289,717)
Micro Imaging Technology, Inc. stockholders	(255,115)	(292,039)	(16,607,633)
Net loss	$ (295,070)	$ (322,857)	$ (17,897,350)
Net loss per share, basic and diluted	$ (0.06)	$ (0.31)
Shares used in computing net loss per share, basic and diluted	4,623,019	1,030,017

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Summary of Significant Accounting Policies

3 Months Ended

Jan. 31, 2013

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

7. Summary of Significant Accounting Policies

The accounting policies followed are as set forth in Note 1 of the Notes to Financial Statements in the Company’s 2011 Annual Report on Form 10-K. The Company has not experienced any material change in its critical accounting policies since November 1, 2011. The Company’s discussion and analysis of its financial condition and results of operations are based upon its consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires the Company to make estimates and judgments regarding uncertainties that affect the reported amounts of assets, liabilities, revenues and expenses. On an ongoing basis, the Company evaluates its estimates, which are based upon historical experience and on other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. The Company considers the following accounting policies to be most critical in their potential effect on its financial position or results of operations.

New Accounting Pronouncements

The following accounting standards updates were recently issued and have not yet been adopted by us. These standards are currently under review to determine their impact on our consolidated financial position, results of operations, or cash flows. There were various other updates recently issued which represented technical corrections to the accounting literature or application to specific industries. None of the other updates are expected to a have a material impact on our consolidated financial position, results of operations or cash flows.

January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.

On February 7, 2013, the FASB issued Accounting Standards Update [ASU] 2013-03, entitled Clarifying the Scope and Applicability of a Particular Disclosure to Nonpublic Entities. The guidance in ASU 2013-03 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 825, entitled Financial Instruments. The objective associated with issuing this amended guidance is to clarify the scope and applicability of a particular disclosure for nonpublic entities [nonissuers] that resulted from the issuance of ASU 2011-04, entitled Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs, where that amended guidance essentially served to rewrite the guidance in FASB ASC 820, entitled Fair Value Measurement. The ASU 2013-03 amendments to FASB ASC 825 became effective upon issuance of the guidance. Since the amendments were issued on February 7, 2013, that date serves as the effective date of the amended guidance. The adoption of ASU 2013-03 is not expected to have a material effect on the Company’s operating results or financial position.

Earnings Per Share

Basic earnings per share are based on the weighted average number of shares outstanding for a period. Diluted earnings per share are based upon the weighted average number of shares and potentially dilutive common shares outstanding. Potential common shares outstanding principally include convertible notes payable and stock options under our stock plan. Since the Company has incurred losses, the effect of any common stock equivalent would be anti-dilutive.

Stock Based Compensation

Stock-based compensation costs for stock options issued to employees is measured at the grant date, based on the fair value of the award using the Black Scholes Option Pricing Model, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity grant).

No stock-based compensation was recognized during the three months ended January 31, 2013.

On February 14, 2012, the Board of Directors adopted the 2012 Employee Benefit Plan which is authorized to grant up to 120,000 shares of common stock or options to purchase common stock to eligible employees, directors, officers, consultants or advisors. Eligibility is determined by the Board of Directors. On January 16, 2013, the Company issued 8,000 shares of common stock under the Plan to legal counsel for services rendered. The value of the shares was $12,000, or $1.50 per share. See also Note 12 – “Subsequent Events.”

The following table summarizes information about options granted under the Company’s equity compensation plans through January 31, 2013 and otherwise to employees, directors and consultants of the Company. Generally, options vest on an annual pro rata basis over various periods of time and are exercisable, upon proper notice, in whole or in part at any time upon vesting. Typically, in the case of an employee, vested options terminate when an employee leaves the Company. The options granted have contractual lives ranging from two to ten years.

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at October 31, 2012		5,600		$	40.00		1.2	$	—
Granted		—			—
Exercised		—			—
Expired		(1,000	)		145.00
Canceled		—			—
Outstanding at January 31, 2013		4,600		$	19.29		1.2	$	—

Summary information about the Company’s options outstanding at January 31, 2013 is set forth in the table below. Options outstanding at January 31, 2013 expire between August 2013 and January 2016.

Range of Exercise Prices	Options Outstanding January 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Options Exercisable January 31, 2013		Weighted Average Exercise Price
$ 1.00-$70.00		4,400		1.2	$	13.50		4,400	$	13.50
$150.00		200		0.5	$	150.00		200	$	150.00
TOTAL:		4,600						4,600

As of January 31, 2013, all outstanding options had fully vested and there was no estimated unrecognized compensation from unvested stock options.

The following table summarizes the information relating to warrants granted to non-employees as of October 31, 2011 and changes during the three months ended January 31, 2013:

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at October 31, 2012		146,667		$	1.00		1.8	$	—
Granted		—			—
Exercised		(40,000	)		1.00
Expired		—			—
Canceled		—			—
Outstanding at January 31, 2013		106,667		$	1.31		1.2	$	—

Summary information about the Company’s warrants outstanding at January 31, 2013 is set forth in the table below. Warrants outstanding at January 31, 2013 expire between September 2013 and April 2015. See also Note 12 – “Subsequent Events.”

Range of Exercise Prices		Warrants Outstanding January 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Warrants Exercisable January 31, 2013		Weighted Average Exercise Price
$	1.00		40,000		2.2	$	1.00		40,000	$	1.00
$	1.50		66,667		0.6	$	1.50		66,667	$	1.50
			106,667						106,667

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Property and Equipment

3 Months Ended

Jan. 31, 2013

Property, Plant and Equipment [Abstract]

Property and Equipment

6. Property and Equipment

Property and equipment are recorded at cost and are depreciated using the straight-line method over an expected useful life of 3 or 5 years. Effective October 31, 2011, the Company reclassified and capitalized as machinery and equipment eight of its MIT 1000 Systems that it had carried as finished goods valued at $75,788. A revised model of the systems has been designed and the Company will utilize these eight first generation models as laboratory testing equipment. Commencing November 1, 2011, these systems are being depreciated over an expected useful life of 3 years.

The production tooling for the Company’s revised MIT 1000 has been capitalized and the $14,000 cost is being amortized over an estimated useful life of 3 years.

Expenditures for normal maintenance and repairs are charged to operations. The cost and related accumulated depreciation of assets are removed from the accounts upon retirement or other disposition, and the resulting profit or loss is reflected in the Statement of Operations. Renewals and betterments that materially extend the life of the assets are capitalized.

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Nature of our Business, Development Stage Company and Continuance of Operations (Details Narrative)	Jan. 31, 2013
Accounting Policies [Abstract]
Percentage of interest owned by the company	80.70%

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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Jan. 31, 2013

Accounting Policies [Abstract]

Schedule of Options Granted Under the Company's Equity Compensation Plans

The options granted have contractual lives ranging from two to ten years.

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at October 31, 2012		5,600		$	40.00		1.2	$	—
Granted		—			—
Exercised		—			—
Expired		(1,000	)		145.00
Canceled		—			—
Outstanding at January 31, 2013		4,600		$	19.29		1.2	$	—

Schedule of Stock Options Outstanding

Summary information about the Company’s options outstanding at January 31, 2013 is set forth in the table below. Options outstanding at January 31, 2013 expire between August 2013 and January 2016.

Range of Exercise Prices	Options Outstanding January 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Options Exercisable January 31, 2013		Weighted Average Exercise Price
$ 1.00-$70.00		4,400		1.2	$	13.50		4,400	$	13.50
$150.00		200		0.5	$	150.00		200	$	150.00
TOTAL:		4,600						4,600

Schedule of Warrants Granted to Non-employees

The following table summarizes the information relating to warrants granted to non-employees as of October 31, 2011 and changes during the three months ended January 31, 2013:

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at October 31, 2012		146,667		$	1.00		1.8	$	—
Granted		—			—
Exercised		(40,000	)		1.00
Expired		—			—
Canceled		—			—
Outstanding at January 31, 2013		106,667		$	1.31		1.2	$	—

Schedule of Warrants Outstanding

Summary information about the Company’s warrants outstanding at January 31, 2013 is set forth in the table below. Warrants outstanding at January 31, 2013 expire between September 2013 and April 2015. See also Note 12 – “Subsequent Events.”

Range of Exercise Prices		Warrants Outstanding January 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Warrants Exercisable January 31, 2013		Weighted Average Exercise Price
$	1.00		40,000		2.2	$	1.00		40,000	$	1.00
$	1.50		66,667		0.6	$	1.50		66,667	$	1.50
			106,667						106,667

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Employee Retirement Plan

3 Months Ended

Jan. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Employee Retirement Plan

10. Employee Retirement Plan

Commencing on January 1, 2005, the Company sponsored a Simple IRA retirement plan which covers substantially all qualified full-time employees. Participation in the plan is voluntary and employer contributions are determined on an annual basis. Employer contributions would be made at the rate of three percent (3%) of the employees’ base annual wages. However, the Company made no contributions to the IRA plan during the three months ended January 31, 2013 and 2012.

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Convertible Debentures

3 Months Ended

Jan. 31, 2013

Convertible Notes Payable [Abstract]

Convertible Debentures

8. Convertible Debentures

On November 10, 2010, the Company entered into a convertible note for $64,868 with a stockholder. The Note matured on May 31, 2012 and bears interest at the rate of ten percent (10%) per annum. The Note is convertible into shares of common stock at a forty two percent (42%) discount to the average of the lowest three (3) closing bid prices of the common stock during the ten (10) trading days prior to the conversion date. The note holder may convert any or all of the unpaid principal note prior to the maturity date. The Company calculated the intrinsic value of the conversion feature to be $46,973 as of the date of issuance of the debentures using the same criteria as noted above, which amount has been fully amortized as of January 31, 2013. The Company has expensed $14,449 in accrued interest on the note as of January 31, 2013. If the note had been converted as of January 31, 2013, the Company would have issued a total of 117,728 shares of common stock the value of which would exceed, by $117,610 the principal balance due on the note. The Company is currently negotiating with the lender to settle or renegotiate the Note.

On November 27, 2009, the Company borrowed $25,000 from an unaffiliated lender. In September 2011, the lender converted $12,500 of the principal and $2,876 in accrued interest into 17,084 shares of common stock. The Company issued an Amended and Restated Convertible Note for the $12,500 principal balance of the loan. The amended note matured on December 31, 2012 and bears interest at 6% and is convertible into common shares at a 55% discount to the average of the lowest three (3) closing bid prices of the common stock during the ten (10) trading days prior to the conversion date. The Company calculated the intrinsic value of the conversion feature on the remaining balance to be $10,507 as of the date of issuance of the amended note which has been fully amortized as of January 31, 2013. As of January 31, 2013, the Company had expensed a total of $1,021 in accrued interest on the remaining principal balance of $12,500. If the $12,500 balance of the note had been converted as of January 31, 2013, the Company would have issued a total of 29,240 shares of common stock.

At January 31, 2013 and October 31, 2012, without taking into effect any unamortized discounts, convertible debentures consisted of the following:

			October 31, 2012
	January 31, 2013		(Audited)
Convertible note payable to stockholder; principal and interest at 10% due on May 31, 2012.	$	64,868		64,868
Convertible notes payable to various stockholders; principal and interest at 6% maturing on December 31, 2012.	$	12,500		12,500
		77,368		77,368
Less current maturities	$	77,368		77,368
Long term portion of Convertible and Series 1 notes payable	$	—	$	—

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Notes Payable

3 Months Ended

Jan. 31, 2013

Debt Disclosure [Abstract]

Notes Payable

9. Notes Payable

At January 31, 2013 and October 31, 2012, without taking into effect any unamortized discounts, notes payable to an officer and to stockholders consisted of the following:

			October 31, 2012
	January 31, 2013		(Audited)
Unsecured, interest-free convertible notes payable to former officer/director of the Company; principal due on payment schedule through May 2014.	$	114,450	$	136,950
Unsecured convertible note payable to various stockholders; principal and interest at 6% due between December 9, 2010 and April 20, 2011.		52,000		52,000
		166,450		188,950
Less current maturities		142,000		142,000
Long term portion of notes payable	$	24,450	$	46,950

Concurrent with his April 13, 2012 resignation as Chairman of the Board of Directors and Chief Executive Officer, the Company agreed to repay a total of $160,000 in principal loans, $24,339 in accrued interest and $13,120 in unpaid fees and expenses due Michael Brennan over a 25-month payment schedule commencing May 1, 2012. As of January 31, 2013, payments have been made to Mr. Brennan to reduce the principal balance to $114,450.

With the exception of the above $114,450 in notes payable to a former officer and director, all of the above notes payable were past due as of January 31, 2013. The Company is currently negotiating with holders of the remaining $52,000 in principal notes to either extend the maturity date or convert the notes into shares of common stock.

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Securities Transactions

3 Months Ended

Jan. 31, 2013

Equity [Abstract]

Securities Transactions

11. Securities Transactions

Common Stock Issued in Private Placement Transactions

On May 8, 2012, Board member, Gregg J. Newhuis, entered into a Subscription Agreement, as amended on October 31, 2012, to purchase a total of 1,800,000 shares of the Company’s common stock at $0.50 per share over a six-month period. Mr. Newhuis also received a one-year option to purchase up to an additional 266,667 shares of common stock at $1.50 per share in September 2012. This option was cancelled in October 2012. The Company received the final $100,000 from Mr. Newhuis on November 29, 2012 pursuant to his May 2012 subscription arrangement. Giving effect to the February 8, 2013 reverse stock split, the Company issued a total of 200,000 shares of common stock at $0.50 per share for the November 29, 2012 purchase.

On April 20, 2012, the Company granted three-year warrants to purchase 80,000 shares of common stock to a major shareholder as part of a Subscription Agreement for the purchase of 80,000 shares of common stock at $0.75 per share. The warrants are exercisable at $1.00 per share within one year of the subscription; $2.50 per share within two years; and at $5.00 per share during the third year of the warrant. On January 11, 2013, the warrant holder exercised his right to purchase one half of the warrants granted and paid $40,000. Giving effect to the February 8, 2013 reverse stock split, the Company issued 40,000 shares of common stock at $1.00 per share on this transaction.

On January 11, 2013, Victor Hollander, a Director and the Company’s Chief Financial Officer, purchased 3,333 shares of common stock for proceeds of $5,000, at the fair market value of $1.50 per share.

Pursuant to an April 1, 2012 consulting arrangement, the Company agreed to pay Jeffrey Nunez a five percent (5%) transaction fee on all proceeds received by the Company during the one year term of such agreement. The fee is payable in shares of the Company’s common stock which are to be valued as the average closing price of the common stock for the five (5) trading days prior to the transaction which triggers the fee. Between April 20 and October 31, 2012, the Company issued Mr. Nunez a total 35,512 shares of common stock valued at $53,000 pursuant to the transaction fee arrangement. As of January 31, 2013, an additional $7,000 was due Mr. Nunez under this arrangement at which time the transaction fee arrangement was terminated by mutual agreement. See also Note 4 – “Related Party Receivables.”

Common Stock Issued in Cancellation of Debt

On January 16, 2013, the Company issued its legal counsel a total of 8,000 shares of common stock in payment for $12,000 in legal services rendered for $1.50 per share.

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Convertible Debentures - Schedule of Convertible Debentures (Details) (USD $)	Jan. 31, 2013	Oct. 31, 2012
Convertible notes payable		$ 77,368
Less current maturities	77,368	74,166
Long term portion of Convertible and Series 1 notes payable
Convertible Note Payable at 10% Due on May 31, 2012 [Member]
Convertible notes payable	64,868	64,868
Convertible Notes Payable at 6% Maturing on December 31, 2012 [Member]
Convertible notes payable	$ 12,500	$ 12,500

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Notes Payable (Tables)

3 Months Ended

Jan. 31, 2013

Debt Disclosure [Abstract]

Schedule of Unamortized Discounts, Notes Payable to Officers and Stockholders

At January 31, 2013 and October 31, 2012, without taking into effect any unamortized discounts, notes payable to an officer and to stockholders consisted of the following:

			October 31, 2012
	January 31, 2013		(Audited)
Unsecured, interest-free convertible notes payable to former officer/director of the Company; principal due on payment schedule through May 2014.	$	114,450	$	136,950
Unsecured convertible note payable to various stockholders; principal and interest at 6% due between December 9, 2010 and April 20, 2011.		52,000		52,000
		166,450		188,950
Less current maturities		142,000		142,000
Long term portion of notes payable	$	24,450	$	46,950

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Related Party Receivables (Details Narrative) (USD $)	3 Months Ended
	Jan. 31, 2013	Oct. 31, 2012
Related Party Transactions [Abstract]
Receivables from related parites	$ 2,000
Proceeds from excess of fees and expense received	10,015
Allowance for doubtful accounts	$ 0	$ 0

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Subsequent Events (Details Narrative) (USD $)

0 Months Ended

3 Months Ended

87 Months Ended

0 Months Ended

Feb. 22, 2013

Feb. 08, 2013

Feb. 06, 2013

Feb. 08, 2013

Jan. 16, 2013

Jan. 16, 2013

Nov. 29, 2012

May 21, 2012

Apr. 20, 2012

Jan. 31, 2013

Jan. 31, 2012

Jan. 31, 2013

Oct. 31, 2012

Jan. 31, 2013

Minimum [Member]

Jan. 31, 2013

Maximum [Member]

Feb. 28, 2013

Anthony Frank [Member]

Feb. 06, 2013

Anthony Frank [Member]

Feb. 06, 2013

Anthony Frank [Member]

Minimum [Member]

Common stock issued

$ 200,000

$ 60,000

$ 60,000

$ 180,000

Common stock issuance price per share

$ 1.00

$ 1.00

$ 1.50

$ 1.50

$ 1.50

$ 0.50

$ 0.50

$ 0.75

$ 0.85

Common stock issued, shares

400,000

70,588

70,588

Stock options granted in during period for additional purchase of common stock, number

66,667

Stock options granted in during period for purchase of additional common stock, price per share

$ 0.003

Common stock, shares authorized

25,000,000

25,000,000

25,000,000

2,500,000,000

25,000,000

Common stock reverse stock spilit

 Effect a 500-to-1 reverse split of all classes of its issued and outstanding shares of stock such that the following classes of shares would be reconstituted as of February 8, 2013

 one-for-five hundred (1:500) reverse stock split

Stock issued for services, shares

8,000

8,000

8,000

Stock issued for services

$ 8,000

$ 12,000

$ 12,000

$ 906

$ 3,211,491

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended		87 Months Ended
	Jan. 31, 2013	Jan. 31, 2012	Jan. 31, 2013
Cash flows from operating activities:
Net loss	$ (295,070)	$ (322,857)	$ (17,897,350)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	12,764	7,145	189,137
Gain on extinguishment of debt			(288,192)
Amortization of costs and fees related to convertible debentures	5,057	85,486	1,165,291
Common stock issued for services			2,144,790
Common stock issued to officers, directors and consultants for services		906	3,211,491
Common stock issued for shares of subsidiary stock			254,000
Common stock of subsidiary issued to employees and consultants			2,815
Common stock issued as a commission			3,000
Common stock issued for accounts payable			296,583
Common stock issued to former licensee			41,319
Common stock issued/recovered on cancelled agreements			20,478
Non-cash compensation for stock options and warrants			631,923
Costs and fees related to issuance of convertible debt			542,540
Interest expense related to beneficial conversion feature			1,944,800
Interest paid with common stock		2,700	118,487
Interest on notes receivable for common stock			(1,373)
(Increase) decrease in assets:
Related party receivables	3,254		(12,015)
Prepaid expenses	14,979		9,450
Inventories	(41,887)		(143,275)
Increase (decrease) in liabilities:
Derivate liability		(27,028)
Trade accounts payable	57,165	57,905	542,059
Accounts payable to officers and directors	16,635	62,549	769,258
Accrued payroll and other expenses	20,933	30,845	454,582
Net cash used in operating activities	(206,170)	(102,349)	(6,000,202)
Cash flows from investing activities:
Purchase of fixed assets	(3,500)		(220,643)
Net cash used in investing activities	(3,500)		(220,643)
Cash flows from financing activities:
Principal payments on notes payable to stockholder	(22,500)		(1,296,000)
Proceeds from common stock subscription		(1,250)
Proceeds from issuance of notes payable to a related party			1,119,800
Proceeds from issuance of notes and convertible notes payable		32,500	1,604,234
Proceeds from issuance of common stock	145,000	70,181	3,600,475
Net cash provided by financing activities	122,500	101,431	5,028,509
Net change in cash	(87,170)	(918)	(1,192,336)
Cash at beginning of period	90,132	5,206	1,195,298
Cash at end of period	2,962	4,288	2,962
Supplemental Disclosure of Cash Flow Information
Interest paid		664	10,985
Income taxes paid	1,600	1,600	21,840
Supplemental Schedule of Non-Cash Investing and Financing Activities
Conversion of convertible notes payable to shares of common stock		80,500
Common stock issued in consideration for accounts payable	$ 12,000

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Inventory

3 Months Ended

Jan. 31, 2013

Inventory Disclosure [Abstract]

Inventory

5. Inventory

Inventory is stated at the lower of cost or market and comprised entirely of finished goods. Cost is determined on a first-in, first-out (FIFO) basis. The Company’s management monitors inventory for excess and obsolete items and makes necessary valuation corrections when such adjustments are required.

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Property and Equipment (Details Narrative) (USD $)	3 Months Ended
	Jan. 31, 2013
Finished goods	$ 75,788
Expected useful life	3 years
Production tooling cost capitalized, amortized	$ 14,000
Minimum [Member]
Expected useful life	3 years
Maximum [Member]
Expected useful life	5 years

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Notes Payable - Schedule of Unamortized Discounts, Notes Payable to Officers and Stockholders (Details) (Parenthetical)	3 Months Ended		3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2013	Nov. 10, 2010	Jan. 31, 2013 Unsecured, Interest-Free Convertible Notes Payable To Former Officer/Director Of The Company; Principal Due On Payment Schedule Through May 2014 [Member]	Oct. 31, 2012 Unsecured, Interest-Free Convertible Notes Payable To Former Officer/Director Of The Company; Principal Due On Payment Schedule Through May 2014 [Member]	Jan. 31, 2013 Unsecured Convertible Note Payable To Various Stockholders; Principal And Interest At 6% Due Between December 9, 2010 And March 31, 2011 [Member]	Oct. 31, 2012 Unsecured Convertible Note Payable To Various Stockholders; Principal And Interest At 6% Due Between December 9, 2010 And March 31, 2011 [Member]
Debt instrument interest rate		10.00%			6.00%	6.00%
Maturity date	Jan. 31, 2013		May 31, 2014	May 31, 2014	Dec. 09, 2010	Apr. 20, 2011

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Convertible Debentures (Tables)

3 Months Ended

Jan. 31, 2013

Accounting Policies [Abstract]

Schedule of Convertible Debentures

At January 31, 2013 and October 31, 2012, without taking into effect any unamortized discounts, convertible debentures consisted of the following:

			October 31, 2012
	January 31, 2013		(Audited)
Convertible note payable to stockholder; principal and interest at 10% due on May 31, 2012.	$	64,868		64,868
Convertible notes payable to various stockholders; principal and interest at 6% maturing on December 31, 2012.	$	12,500		12,500
		77,368		77,368
Less current maturities	$	77,368		77,368
Long term portion of Convertible and Series 1 notes payable	$	—	$	—