Micromem Technologies Inc (MMTIF)

Micromem Technologies Inc is a Corporation formed under the laws of the Province of Ontario, Canada, and was incorporated on October 21, 1985 as Mine Lake Minerals Inc. The Company is engaged in the development of memory technology having the characteristic of non-volatility, which is the ability to retain information after power has been shut off. The Company through its wholly owned subsidiary, Micromem Applied Sensor Technologies, Inc. focuses on developing and marketing the delivery of innovative magnetic sensor applications in industries including Defence, Life Sciences, Automotives, Consumer and Mining. The Company's technology is based on its ability to use magnetic materials in combination with a sensor to record the 'state of magnetization. Each magnetic element stores one bit of data based on its ability to alternate between states of magnetic polarization, which states are determined by a sensor. Its technology represents '1's and '0's by the different polarization of magnets. The magnetic field strength and direction do not decay when power is switched off, and, therefore, the memory is non-volatile. The Company has a portfolio of patents and patent applications protecting the technology that it is developing. Its magnetic patent portfolio comprises separate series of patents and patent applications. The semiconductor industry is intensely competitive. Both low-density and high-density nonvolatile memory products are manufactured and marketed by major Corporations possessing worldwide wafer manufacturing and integrated circuit production facilities and by specialized product companies. The Company is subject to various environmental protection regulations imposed by the government in the jurisdiction where it conducts its development work.