MFIC Corporation Featured at WallStreetCorner
Thursday December 16, 8:00 am ET
NEWTON, Mass.--(BUSINESS WIRE)--Dec. 16, 2004--MFIC Corporation (Nasdaq OTCBB Symbol: MFIC - News) announced today it is the current "Stock Pick" of Larry Oakley, Editor-in-Chief of WallStreetCorner - www.WallStreetCorner.com.
Oakley calls MFIC a successful turnaround. He said: "I'm impressed with MFIC's substantial progress." He liked the fact that MFIC has been able to concentrate on its core business by divesting its Morehouse-COWLES Division, further develop its technology, & expand its marketing & sales activities, enabled in part through both debt reduction and equity infusion. He added: "The results are outstanding. For example, in the last six weeks, it received a series of significant orders totaling about $2,900,000. The backlog for Microfluidics products increased from about $2,288,000 at 9/30/2004 to $4,660,210 at 11/16/2004, a new record."
Oakley concluded with his opinion: "I feel MFIC has substantial mid-term & long-term appreciation potential. I'm pleased that I had the opportunity to interview Irv Gruverman, MFIC's CEO & Chairman. My opinion is that his company is on the verge of an explosive period of growth."
MFIC CORPORATION: Through its Microfluidics Division, MFIC provides patented and proprietary high performance Microfluidizer® 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.
WallStreetCorner: Formed six years ago as a venue for the Conservative Speculator newsletter, published since 1987, WallStreetCorner -- including Conservative Speculator and Oakley's "Stock Pick," "Opinion," "Comment," and "Bold Ventures" editorial columns -- is now regularly read by investors in 78 countries.
Management believes that this release contains forward-looking statements that are subject to certain risks and uncertainties including statements relating to the Company's ability to achieve attain and/or increase operating profitability, and/or to achieve and/or improve net income 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 materials processing equipment will be realized commercially or that a commercial market for the equipment will continue to develop, (ii) 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 the Company's loan agreement with its senior lender, (iii) whether the Company will be able to produce and make timely delivery of equipment under accepted purchase orders and outstanding sales quotations, and (iv) whether the Company will experience an exceptional rate of growth.
Contact:
MFIC Corporation
Irwin Gruverman, 617-969-5452
CEO & Chairman
or
Robert P. Bruno, 617-969-5452
President & COO
or
Jack M. Swig, 617-969-5452
Investor Relations
info@mfics.com
Source: MFIC Corporation |
