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October 02, 2007

Food Technology Service Ensures Food Safety

posted by MR WAVETHEORY at 10/02/2007 10:34:00 AM
Food Safety is a big important issue. In fact, the US government has setup a portal to to the nation's food supply at FoodSafety.gov and there is even legislation to ensure the safety of the nation's food in Congress according to the Washington Post especially with the rotten tofu and rotten beef scare from China. One day it is Chinese catfish, bass, eel and shrimp containing high levels of cancer-causing toxins. Another day it is toothpaste made from diethylene glycol—the poisonous chemical found in antifreeze. Even Chinese-made pet-food could not escape the wrath, with some animal feed containing melanie—an industrial chemical used to make plastics and fertilizer.

Considering that China feeds 1.3 billion people every day, the incidents are still uncommon in the grand scheme of things. However, the problem is still a major one.

That's where a little $9 million company is focusing on. It's called Food Technology Service (Nasdaq VIFL). According to their company profile, Food Technology Service, Inc. is engaged in the business of operating a gamma irradiation facility using Cobalt 60 for the sterilization of medical, surgical, pharmaceutical and packaging materials. It also disinfects fruits, vegetables and meat products, which extends their shelf life.

The stock is up 20% today and could go up more if we get more food scares which I am sure we will. That's great news because Food Technology keeps produce - fruits and vegetables - meat & poultry, shell eggs, crustacean and molluscan shellfish safe. Around 66,000 shares have traded so far and the float is only 1 million shares. It's a microcap and it's focused on a hot sector. All that's needed is another big food scare for this stock to rocket up. Can you believe this VIFL traded as high as $10? I didn't believe it either until I saw it.

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