Message #29 From:
NewsBot Date: December 14, 2006 05:38:00 PM
MFIC News Taglich Brothers Issues Updated Research Report for MFIC Corporation and Significantly Raises 12 Month Price Target
NEWTON, Mass.--(BUSINESS WIRE)--MFIC Corporation (“MFIC”
or the “Company”) (OTCBB:MFIC)
announced today that Taglich Brothers on December 11, 2006 increased
its twelve month price target for MFIC to $2.80 while retaining its
rating of MFIC as a “Speculative Buy”
and published an updated research report for the Company (current price
$1.71).
MFIC’s Chairman and CEO, Irwin Gruverman,
commented “We are pleased to see an increase
in the target price for our shares. We note that Taglich has estimated
that MFIC’s audit fees will increase by
$400,000 in 2007 as a result of Sarbanes-Oxley compliance. We estimate
that such increase is more than twice the amount of the total
Sarbanes-Oxley related increase that we expect to experience in 2007 and
that only a relatively small portion of that amount will be attributable
to increased audit fees, while the balance will be allocated to
Sarbanes-Oxley compliance consultants for implementation and review.”
MFIC, through its wholly-owned subsidiary, Microfluidics Corporation,
produces and markets a broad line of proprietary fluid materials
processing systems used for a variety of mixing, microemulsion,
nanosuspension, encapsulation, and cell disruption applications.
Microfluidics offers Microfluidizer® high
shear fluid processor equipment capable of creating nanostructures, as
well as new Microfluidizer® Mixer/Reactor
Systems for continuous production of nanoparticles for applications in
drug delivery, catalysts, superconductors, high temperature ceramics,
coatings, and encapsulated active ingredients.
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TAGLICH BROTHERS
Taglich Brothers, Inc. is a full-service broker dealer focused
exclusively on microcap companies. Taglich Brothers defines the microcap
segment of the equity market as companies with less than $250 million in
market capitalization. Taglich Brothers currently offers institutional
and retail brokerage services, investment banking and comprehensive
research coverage to the investment community.
All research issued by Taglich Brothers, Inc. is based on public
information. Taglich Brothers, Inc. does not currently have an
Investment Banking relationship with the Company and was not a manager
or co-manager of any offering for the Company within the last three
years. The Company, for the creation and dissemination of research
reports for the first year, paid $19,500 (USD) on April 2004, and in
August 2005 the Company paid, for the creation and dissemination of
research reports for the second year, a monetary fee of $17,550. After
the second year of publication, the Company will pay a monthly monetary
fee of $1,462.50 (USD) to Taglich Brothers, Inc. for creation and
dissemination of research reports. All further disclosure and caveats
are contained in the Taglich Brothers full report.
MFIC Corporation, through its Microfluidics subsidiary, provides
patented and proprietary high performance Microfluidizer®
materials processing equipment to the biotechnology, pharmaceutical,
chemical, cosmetics/personal care, and food industries. The equipment
enables the manufacture and formulation of numerous nanomaterials and
nanoscale products. 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 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. For more information please visit http://www.microfluidicscorp.com/
