Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Microfluidics International Corporation Obtains New $2.5 Million Line of Credit in Support of Global Growth Strategy

Abstract:
Microfluidics International Corporation (OTCBB: MFIC) today announced that the Company has received a $2.5 million multi-year revolving line of credit from Silicon Valley Bank. The credit line will be used as working capital in support of the Company's global growth strategy.

Microfluidics International Corporation Obtains New $2.5 Million Line of Credit in Support of Global Growth Strategy

NEWTON, MA | Posted on July 2nd, 2008

"This financing is an important first step in the implementation of the Company's strategic global growth strategy," said Michael C. Ferrara, Chief Executive Officer of Microfluidics International Corporation. "Specifically, these financial resources will support key growth initiatives, including the development and launch of new products, ongoing improvements in product and service quality, increases in sales and distribution channels, and the implementation of targeted marketing and lead-generation programs."

"This credit facility replaces our prior bank financing arrangements and meets the cash requirements of our fiscal year 2008 operational plan," said Brian E. LeClair, Executive Vice President & Chief Financial Officer of Microfluidics International Corporation. "We are pleased to welcome Silicon Valley Bank as both our lending and business partner."

####

About Microfluidics International Corporation
Microfluidics International Corporation designs, manufactures and distributes proprietary high performance Microfluidizer® materials processing and formulation equipment to the biotechnology, pharmaceutical, chemical, cosmetics/personal care and food industries. Microfluidics applies its more than 20 years of high pressure processing experience to produce the most uniform and smallest liquid and suspended solid particles 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 Microfluidics’ equipment customers.

Forward-Looking Statement:

Management believes that this release contains forward-looking statements that are subject to certain risks and uncertainties including statements relating to our plan to achieve, maintain and/or increase growth in revenue and/or market share, to achieve, maintain, and/or increase operating profitability, and/or to achieve, maintain, and/or increase net operating profitability. Such statements are based on our current expectations and are subject to a number of factors and uncertainties that could cause actual results achieved by us to differ materially from those described in the forward-looking statements. We caution 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 our Microfluidizer materials processing equipment will be realized commercially or that a commercial market for the equipment will continue to develop, (ii) whether the timing of orders will significantly affect quarter to quarter revenues and resulting net income results for a particular quarter, which may cause increased volatility in our stock price, (iii) whether we will have access to sufficient working capital through continued and improving cash flow from sales and ongoing borrowing availability, the latter being subject to our ability to maintain compliance with the covenants and terms of our loan agreement with our senior lender, (iv) whether our Microfluidics Reaction Technology will be adopted by customers as a means of producing innovative materials in large quantities, (v) whether we are able to deploy prototype Microfluidics Reaction Technology systems for nanoparticle production and then manufacture and introduce commercial production Microfluidics Reaction Technology equipment, and (vi) whether we will achieve a greater proportion of our sales in the future through the sale of advanced processor production systems.

For more information, please click here

Contacts:
Microfluidics International Corporation
Brian E. LeClair
617-969-5452
or
MacDougall Biomedical Communications
Sarah Cavanaugh
781-235-3060

Copyright © Business Wire 2008

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

A Tougher Tooth: A new dental restoration composite developed by UCSB scientists proves more durable than the conventional material August 22nd, 2017

Nagoya physicists resolve long-standing mystery of structure-less transition: Nagoya University-led team of physicists use a synchrotron radiation X-ray source to probe a so-called 'structure-less' transition and develop a new understanding of molecular conductors August 21st, 2017

Tokai University research: Nanomaterial wrap for improved tissue imaging August 21st, 2017

Silk could improve sensitivity, flexibility of wearable body sensors August 20th, 2017

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

180 Degree Capital Corp. Appoints Investment Banking Veteran Parker Weil to Its Board of Directors August 2nd, 2017

Forge Nano 2017: 1st Quarter Media Update April 20th, 2017

180 Degree Capital Corp. Announces the Start of Kevin Rendino as Chairman and Chief Executive Officer and Completion of its Transition to a Registered Closed-End Fund March 31st, 2017

Microfluidics/Nanofluidics

Using light to propel water : With new method, MIT engineers can control and separate fluids on a surface using only visible light April 25th, 2017

Nano-SPEARs gently measure electrical signals in small animals: Rice University's tiny needles simplify data gathering to probe diseases, test drugs April 17th, 2017

Announcements

A Tougher Tooth: A new dental restoration composite developed by UCSB scientists proves more durable than the conventional material August 22nd, 2017

Nagoya physicists resolve long-standing mystery of structure-less transition: Nagoya University-led team of physicists use a synchrotron radiation X-ray source to probe a so-called 'structure-less' transition and develop a new understanding of molecular conductors August 21st, 2017

Tokai University research: Nanomaterial wrap for improved tissue imaging August 21st, 2017

Silk could improve sensitivity, flexibility of wearable body sensors August 20th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project