Innovative Micro Technology, Inc. designs and manufactures micro-electro-mechanical systems (MEMS) devices. MEMS devices are made using wafer-processing technology, similar to that used in making silicon electronic devices or thin-film recording heads for magnetic storage devices. Common uses for MEMS devices are automotive air-bag sensors (accelerometers), pressure and airflow sensors, and inkjet printer heads. The Company’s business activity is at the product development phase for most of its customers. It fabricates MEMS products on a six-inch silicon wafer, which depending upon the size of the individual part, is cut into multiple finished parts referred to as dies. Innovative Micro Technology, Inc.’s three additional lines of business include: Santa Barbara Tool & Die, IMT Analytical and leasing of excess space in its owned facility under long-term lease contracts.
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