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                                                                   Exhibit 99.1

                               MFIC CORPORATION

             Summary of Terms for Common Stock Purchase Obligation
             -----------------------------------------------------

     The following terms and conditions shall constitute a form of binding
contract or agreement between the parties and is intended to constitute a
definitive agreement among the parties superseding any and all prior
discussions, negotiations, and written or verbal offers.

Parties:       MFIC Corporation, a publicly held Delaware corporation (the
               "Company" or "MFIC")

                                      and

                              Irwin J. Gruverman
                              14 Tanglewood Road
                              Needham, MA 02494


Common Stock:  Common Stock, $.01 par value per share, of the Company

Common Stock
Purchase:      $250,000 of restricted Common Stock

Securities
Purchase:      1.   The Company shall have the right to sell to Mr. Gruverman
               and Mr. Gruverman shall have the obligation to purchase from the
               Company, through and including December 15, 1999, subject to
               certain conditions precedent set forth below, $250,000 of the
               Company's restricted Common Stock (the "Shares") at a per share
               purchase price equal to the lesser of: (i) the Average Closing
               Price of the Common Stock for the ten (10) business days
               beginning September 9, 1999 and ending September 22, 1999 less a
               20% discount, or (ii) the average closing price, less a 20%
               discount, for the ten (10) business days prior to of the
               Company's closing of a loan facility with a senior lender.

Conditions
Precedent:     Mr. Gruverman's obligation to purchase the Shares is conditioned
               upon the Company's closing of a credit facility with an
               institutional lender or lenders on or by December 15, 1999 in an
               amount providing advance formula availability to the Company of
               not less than $4.2 million and which credit facility provides
               excess borrowing availability of at least $500,000 above the
               Company's loan payoff liability to Comerica Bank, or such lesser
               amount as Mr. Gruverman shall reasonably deem to be adequate and
               sufficient for the Company's projected financial needs. If such
               credit facility is based upon a formula, the formula and
               availability thereunder shall exclude the proceeds resulting from
               Mr. Gruverman's purchase of the Shares.
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Right to Put
to Company:    Mr. Gruverman shall have the right to resell the Shares to the
               Company at any time after the closing of the Common Stock
               purchase transaction, at an aggregate purchase price of $1.00 for
               all such Shares.

Use of
Proceeds:      The proceeds from the sale of Shares will be used generally for
               working capital but is intended primarily for increased
               expenditure for Sales/Marketing, promotion and related staffing.
               Proceeds from the sale of the Shares may not be used for the
               repayment of non-trade related debt, or for the payment of
               deferred or accrued compensation owed to employees, consultants
               or professional advisors of the Company.

Lock-up
Agreement:     Mr. Gruverman shall not offer, pledge, sell, contract to sell,
               sell any option or contract to purchase, purchase any option or
               contract to sell, grant any option, right or warrant to purchase,
               lend, or otherwise transfer or dispose of, directly or
               indirectly, any of the Shares or enter into any swap or other
               arrangement that transfers to another, in whole or in part, any
               of the economic consequences of such ownership, for a period of
               two (2) years (the "Lock-up Restriction").

Legending
of Shares:     Mr. Gruverman acknowledges that he is acquiring the Shares for
               his own account, for the purpose of investment and is not
               acquiring the Shares with a view to, or for resale in connection
               with, a distribution, nor with any present intention of
               distributing or selling the Shares and understands that the
               Shares have not been registered under the Securities Act of 1933,
               as amended, and that the Shares shall bear a restrictive legend
               to that effect.

Expenses:      The Company will pay for the legal and other transaction related
               expenses.

Finders Fees/
Commissions:   There are no finders' fees payable in connection with the
               purchase of the Shares hereunder. The Company and Mr. Gruverman
               hereby indemnify each other for any finder's fees or commissions
               for which either are responsible.

Additional
Provision(s):  If the Company is to be consolidated with or acquired by another
               entity in a merger, sale of all or substantially all of the
               assets or otherwise, the Lock-up Restriction shall terminate.

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Nothing contained herein shall have any effect either upon the validity and
enforceability of nor shall anything contained herein modify or amend the
outstanding Warrant for the Purchase of Common Stock of MFIC Corporation
permitting Mr. Gruverman to purchase up to 100,000 shares of MFIC Common stock
at a per share price of $.52 and having an expiration date of July 2, 2004.


Agreed and accepted on this 23rd day of September, 1999.



                               MFIC Corporation,
                    as authorized by its Board of Directors
                with Irwin Gruverman, as a Director, abstaining
             from all aspects of the transaction and vote thereon


                   By: /s/ Michael A. Lento
                       -----------------------------------------
                       Michael A. Lento, President and Director



                   By: /s/ James N. Little
                       -----------------------------------------
                       James N. Little, Director


                   By: /s/ Vincent B. Cortina
                       -----------------------------------------
                       Vincent B. Cortina, Director



                                   Purchaser


                            /s/ Irwin J. Gruverman
                       ________________________________
                              Irwin J. Gruverman

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