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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Micromem Technologies Inc. Provides Update

Stocks in this article: MMTIF

Volume Production of MAST Hall Sensors

MAST has confirmed unit pricing and our ability to manufacture and deliver a required initial order of our standard Hall sensor valued $2M USD. Contract proposal is still under review by the client. Should current terms be accepted MAST is anticipating to begin delivery in July. Our highly sensitive Hall sensor was chosen based upon the client's validation of its linearity at 2.5 Tesla.

Miniature Current Sensing Device

Negotiations have been slower than anticipated due to the necessity to translate and deliver all documents in Japanese. MAST has submitted for approval our proposed design.

Wireless Power Transfer Device

Technical documents have been submitted under NDA to the client to aid in their final decision. MAST has received a revised RFQ that has gone to all short listed companies. The proposal is due by the end of May of this year.

Ability to Weigh Extremely Small Quantities in a Production Environment

MAST has been selected to demonstrate our ability to weigh a 750 ng item in a vacuum environment with a cycle time approaching 1 second. The client will be evaluating two different technologies head to head and the winning company will be contracted to integrate the winning technology into their new production line by the end of 2013.

Remote Monitoring of Elderly Home Care Patients

MAST has progressed to the next round of evaluation. There are now 5 remaining companies from the last round total of 12. We have been asked to submit costs and a timeline to produce a POC for a specific transdermal circuit capable of monitoring vital signs. The proposal is due by June 1 of this year.

Measuring Wall Thickness in Underground Pipes

MAST has been selected to begin discussions under NDA with a client for our innovative way of assessing anomalies in pipe thickness in underground pipes.

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