Message #23 From:
NewsBot Date: September 5, 2006 05:00:00 AM
MFIC News Wall Street Reporter Focuses on MFIC's Market Position, Technology, Progress, Equipment Enhancements and Recent Record Quarterly Sales Results; New Interview with MFIC CEO, Irwin Gruverman - Full Interview Available at WSR Website
NEWTON, Mass.--(BUSINESS WIRE)--Sept. 5, 2006--At the request of the Wall Street Reporter Magazine, Irwin Gruverman, CEO and Chairman of MFIC Corporation (OTCBB:MFIC) was interviewed on the subject of MFIC's leadership position in nanomanufacturing and its ongoing contribution to leading products in vaccines, inkjet ink, carbon nanotubes and many other products. Also discussed was the record sales quarter ending June 30, 2006.
The interview can be heard online at www.wallstreetreporter.com and serves to familiarize investors with MFIC, giving them insight into the background, performance, products and management team of the Company. The in-depth interviews conducted by WSR are geared toward sophisticated investors who require unbiased, unscripted first-hand perspective to assist them in making informed investment decisions. The interview can be retrieved on the site by scrolling down the right-hand column of companies covered until you locate MFIC, which is listed under the OTCBB section.
Mr. Gruverman focused on the new equipment enhancements developed in 2005, which resulted in fully automated fluid processors with total control and instrumentation capabilities. Interest in these new systems has been strong and promises improving sales and profit performance in 2006 and beyond. He discussed new equipment for continuous chemical reactors, which can produce nanomaterials, pharmaceuticals, catalysts and other chemically created products economically, with better control, and with less energy consumption. He described senior staff additions in product engineering, sales management and R&D, which promise accelerated product enhancement, application development and market penetration well beyond the present level of a few percent of potential users.
Mr. Gruverman indicated that the value proposition for MFIC equity has been improved by the strong 2006 first half performance which follows a reinvestment effort in 2004 and 2005, and which continues. "MFIC's operating performance in 2006 and the value of the new product enhancements and chemical reaction application systems appear to be having the desired effects. The strategic relationship with the Nanomanufacturing Center at University of Massachusetts at Lowell is progressing and we are about to enter into a collaboration with a recognized and innovative food ingredient company. When our stock price warrants it we will continue efforts to resume listing on a National exchange."
MFIC Corporation, through its Microfluidics Division, provides patented and proprietary high performance Microfluidizer(R) materials processing equipment to the biotechnology, pharmaceutical, chemical, cosmetics/personal care, and food industries. MFIC applies its 20 years of high pressure processing experience to produce the most uniform and smallest liquid and suspended solid structures available, and has provided manufacturing systems for nanoparticle products for more than 15 years.
The Company is a leader in advanced materials processing equipment for laboratory, pilot scale and manufacturing applications, offering innovative technology and comprehensive solutions for nanoparticles and other materials processing and production. More than 3,000 systems are in use and afford significant competitive and economic advantages to MFIC equipment customers.
FORWARD LOOKING STATEMENT:
Management believes that this release and the referenced interview may contain forward-looking statements that are subject to certain risks and uncertainties including statements relating to the Company's plan to attain and/or increase operating profitability and/or to achieve net profitability. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results achieved by the Company to differ materially from those described in the forward-looking statements. The Company cautions investors that there can be no assurance that the actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including but not limited to the following risks and uncertainties: (i) whether the performance advantages of the Company's Microfluidizer(R) materials processing equipment or that a commercial market for the equipment will continue to develop, (ii) whether the performance advantages of the Company's MMR nanoparticle production systems will be realized commercially, (iii) whether the Company will be able to increase its market penetration and market share, (iv) whether the timing of orders will significantly affect revenues and resulting net income results for particular quarters which may cause increased volatility in the Company's stock price, and (v) whether the Company will have access to sufficient working capital through continued and improving cash flow from sales, and ongoing borrowing availability, the latter being subject to the Company's ability to comply with the covenants and terms of its loan agreement with its senior lender.
