Wall Street Reporter Issues a New Interview With MFIC CEO, Irwin Gruverman

[MFIC via BizWire]

Wall Street Reporter Issues a New Interview With MFIC CEO, Irwin Gruverman; Full Interview Available at WSR Website
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NEWTON, Mass.--(BUSINESS WIRE)--April 29, 2004--At the request of
the Wall Street Reporter Magazine, Irwin Gruverman, CEO and Chairman
of MFIC Corporation (OTCBB: MFIC) was interviewed by Scott Banks on
the subject of MFIC's recent completion of its successful financial
restructuring and its ongoing contribution to American manufacturing
excellence in a range of products. MFIC provides the leading edge high
performance mixing and formulation equipment available to the biotech,
pharmaceuticals, coatings, paint, chemical and food industries.
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 focussed on the financial re-engineering of MFIC
which occurred in the last few months. As described in recent press
releases, the Morehouse-COWLES Division assets were sold to allow a
focus on the core Microfluidizer systems business; restructured bank
lines moved from an asset-based line which limited investment in new
initiatives to a four-year term loan and cash-flow based credit line;
a completed a PIPE financing to raise $2.9MM net, with Warrants
outstanding now which could raise an additional $3MM. The company is
now out of debt and can commit more than $2MM to new initiatives.
Proceeds will be committed to several programs. Mr. Gruverman
stated "We have hired and will continue to seek key people in
engineering, marketing/sales and R&D functions. We are initiating
several exciting projects using our Multiple Stream Mixer/Reactor
(MMR) technology, and plan a multi-year effort to establish MFIC as
the leader in nanotechnology materials manufacturing. Marketing and
development of systems and applications will be included in this
effort.
Our core Microfluidizer(R) processing system business will commit
to increase our market penetration from the few percent we now enjoy
to several times that level. We plan to have industry specialists to
find applications in many industries for our unique high pressure
fluid processing technology."
The Board of Directors includes individuals with banking,
marketing, technical and financing expertise and is active in
enhancing a skilled management team in its performance.
Marketing and sales are centralized and a strong core team leads
an extensive network of agents and distributors in North America,
Europe and Asia. About 80% of Microfluidizer processor system sales
are to the pharmaceutical and biotech industries. Most sales are to
Fortune 500 companies.
"We have restarted our Investor Relations efforts to create an
awareness of our new position as a financially-sound business with a
strong core and a new proprietary MMR component with the potential to
propel us to a much higher value level over time," commented Mr.
Gruverman. "We are seeking to resume listing on a National exchange."

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(R)
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, and (iii) whether the Company will
be able to produce and make timely delivery of equipment under
accepted purchase orders and outstanding sales quotations.

MFIC CORPORATION

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.