Microfluidics (MFLU.OB-$0.90) -a leader in advanced, nano-material, processing for a variety of industries
A turn-around play with value characteristics
This is a “heads-up” on a special report that we will issue post-earnings within two weeks on the nanotechnology small cap Microfluidics International Corp..
The Company sells high pressure microfluidic processors that are used to create materials on the micro-and nano-scale to achieve unique product characteristics and qualities.
The technology achieves the following functionality:
Particle size reduction
Bottom-up nanoparticle creation
Cell disruption
Nanoencapsulation
Nanoemulsions and dispersions.
Microfluidic applications are for the development and manufacturing of a variety of products in diverse industries such as biotechnology, pharmaceutical, cosmetics and nutraceuticals.
The products are not homogenizers but provide highest shear,uniform distribution, repeatable results and scale-up guaranteed. For example 17 of the top 20 pharmaceutical companies use
microfluidizer processors and are of particular benefit to manufacturers of vaccines who need to create stable microemulsions of vaccines with their adjuvants.
Third Quarter Financial Results released November 3, 2009 showed a Net Income of $450k on Revenue of $4.5M with a backlog of $4.75M. Sales were strong from vaccine developers and manufacturers.
Balance Sheet as of September 30 showed $1.7M in Cash with Long Term Convertible Debt of $4.7M. Stockholder Equity was $1.15M.
Assuming 10.5M shares outstanding with a stock price of $1.00 gives a Market Cap of $10.5M. Assuming Revenues of $18M for 2010 the Price to Sales Ratio would be 0.583.
(A more detailed updated report will be issued in about 2 weeks after the 2009 Financial Report)