Micromem Technologies Inc. Awards Second Patent for Fluid Condition Sensor Platform
Oct 29 14
Micromem Technologies Inc. through its wholly owned subsidiary, Micromem Applied Sensor Technologies Inc. announced that the United States Patent and Trademark Office advised Micromem of a second Notice of Allowance allowing all of the claims on Micromem's Multi-Modal Fluid Condition Sensor Platform and System Therefor (the Product) has been sent. It is expected that the remaining four Notices of Allowance will follow over the next 5-7 weeks. This is the second of six patents Micromem has filed in this field to be accepted. This series of patents covers more than technology licensed to Flextronics to measure oil condition in automobile oil pans. It is a broad based patent that provides Micromem protection under a wide range of uses for Smart Bolt technologies, essentially it has been granted the patent to Smart Bolt technology that can be used on any fluid in any industry. From oil condition sensing to any number of fluids, this smart technology can be utilized in many other applications. Its license to Flextronics (announced September 10, 2014) grants use for automotive engine oil as the fluid medium to be measured. The opportunities to market a Smart Bolt, a device capable of measuring any fluid in any application, not just an automobile, is a major advantage as its partnerships continue to grow.
Micromem Technologies Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended April 30, 2014
Jun 27 14
Micromem Technologies Inc. announced unaudited consolidated earnings results for the second quarter and six months ended April 30, 2014. For the quarter, the company reported loss from operations of $922,183 against $591,372 a year ago. Net loss before income taxes was $922,183 against $17,012 a year ago. Net loss and comprehensive loss was $922,183 against $17,012 a year ago. Basic and diluted loss per share was $0.01 against $0.00 a year ago. Net cash used in operating activities was $733,892 against $746,624 a year ago. Purchase of property and equipment was $6,090 against $10,495 a year ago.
For the six months, the company reported loss from operations of $1,474,306 against $1,319,936 a year ago. Net loss before income taxes was $1,474,306 against $433,090 a year ago. Net loss and comprehensive loss was $1,474,306 against $433,090 a year ago. Basic and diluted loss per share was $0.01 against $0.00 a year ago. Net cash used in operating activities was $1,269,694 against $1,360,550 a year ago. Purchase of property and equipment was $15,546 against $10,495 a year ago.
Micromem Technologies Inc. Announces Manufacturing of Nanoparticle Detection Platform
Apr 21 14
Micromem Technologies Inc. through its wholly owned subsidiary Micromem Applied Sensor Technologies Inc. announced manufacturing has begun for client orders of nanoparticle detection platform (the “Detector”). This patented Detector developed by MAST, includes a magnetic nano-sieve mechanism designed to capture, from a flowing stream of oil, gas or other fluids, 20 nanometer magnetic nanoparticles on a target that is illuminated by a laser. Using patented resonance wave technology the concentration of the particles is measured to a repeatable accuracy of better than 1 part per billion. MAST has functionalized chemically the surfaces of the magnetic nanoparticles so as to respond to specific wavelengths of the laser and technology is unaffected by the opaque nature of oil and gas streams. The Detector was originally contracted by and designed for the International Oil Company for use in water flood oil well production. It has also gained traction in interwell tracer studies and most recently in environmental applications of tracking carcinogenic chemicals in groundwater. The Company maintains Intellectual Property (IP) control of the detector. The present system is designed for two modes in a lab environment. One, a cuvette mode where a small sample from a core flood analyzer effluent stream and the like can be rapidly evaluated for presence of nanoparticles, and; the other, a powerful method of operation that allows for a flow through mechanism from larger field samples. This product was designed for clients that are investigating the growing use of nanoparticles to help solve critical process and environmental problems. Also, MAST is expanding the functionality of this product by converting it for hazardous environments including direct measurement in real time on producing oil well sample lines.