Micro Imaging Technology, Inc. (OTCPK:MMTC) announced a private placement of 105,883,353 class A common stock of $0.0017 per share with existing investor Anthony M. Frank for gross proceeds of $180,001.70 on February 6, 2013. The investor will subscribe for the shares through March 2013.

On the same day, the investor subscribed for 35,294,118 shares for gross proceeds of $60,000 in the first tranche. The investor now holds 6.7% stake in the company.

On February 28, 2013, the investor subscribed for 35,294,118 shares for gross proceeds of $60,000 in the second tranche. The investor now holds 8% stake in the company.

On April 3, 2013, Micro Imaging Technology, Inc. closed the transaction.