Attached files
file | filename |
---|---|
8-K - MICROFLUIDICS INTERNATIONAL CORP | a8k122009.htm |
EX-10.1 - EXHIBIT - MICROFLUIDICS INTERNATIONAL CORP | mfamend.htm |
Exhibit
99.1
|
Microfluidics
Chairman James N. Little, Ph.D., Announces Retirement from Board of
Directors
|
Newton,
MA – December 8, 2009 – Microfluidics International Corporation (OTCBB: MFLU)
today announced that James N. Little, Ph.D., has informed the Company that he is
retiring from the Board of Directors effective December 31, 2009. Dr. Little has
served on the Microfluidics Board since December, 1995, and was appointed
chairman on December 13, 2007.
Current
Board member George Uveges, founder and principal of the Tallwood Group, will
take over the role of Chairman upon Dr. Little’s retirement. Mr. Uveges is also
a Director for Harvard Bioscience, Inc., and Director and Treasurer of Operation
A.B.L.E. of Greater Boston.
“On
behalf of Microfluidics, I would like to thank Dr. Little for his years of
service to the Company,” said CEO Michael C. Ferrara. “I look forward to working
closely with George and the rest of the Board to continue our strong momentum as
we drive toward sustained profitability and improved shareholder
value.”
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:
This
press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 as contained in Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. You can identify these statements by the fact that they use words such as
"anticipate," "believe," "estimate," "expect," "intend," "project," "plan,"
"outlook," and other words and terms of similar meaning. These
statements involve a number of risks and uncertainties that could cause actual
results to differ materially from the potential results discussed in the
forward-looking statements. Among the factors that could cause actual
results and outcomes to differ materially from those contained in such
forward-looking statements are the following: our ability to access sufficient
working capital, including our new working capital line; our continued
compliance with the representations, warranties and covenants under our new
working capital line and our existing convertible debenture; our continued
history of losses, which includes net losses in three of the last five fiscal
years; the timing and size of customer orders for our products; the adoption,
timing and performance of new technology and products developed by us; changes
and advances in technology that may make our products obsolete or reduce demand
for our products; our ability to protect and maintain the confidentiality of our
intellectual property; our ability to retain key employees and our reliance on a
new management team; changes in governmental rules and regulations, including
those regulating the exportation of goods; and general economic and business
conditions and the financial crisis, including those adversely effecting the
pharmaceutical and biotechnology industries. For a more detailed
discussion of risks and uncertainties which could cause actual results to differ
from those contained in our forward-looking statements, see Item 1A, "Risk
Factors" of our most recently filed Quarterly Report on Form 10-Q for the
quarter ended September 30, 2009 and our other periodic reports filed with the
SEC. You should not place undue reliance on our forward-looking
statements, which speak only as of the date they are made. We are
providing this information as of this date, and we do not undertake to update
the information included in this press release, whether as a result of new
information, future events or otherwise.