Flexpoint Expands
Business Model
February 3, 2010DRAPER, Utah--(BUSINESS WIRE)--Flexpoint Sensor Systems, Inc. (OTCBB:FLXT ) today
announced that the
Company has modified the
business model. In
addition to focusing on
large contracts in the
medical bed and
automotive industry, the
company is more
aggressively focusing on
smaller contracts and
production orders that
produce immediate income
for the Company.
Clark Mower,
President of Flexpoint
Sensor System, stated,
“We have recently
announced several
production contracts for
a variety of products
featuring Bend Sensor®
technology. The Company,
since the last quarter
of last year, has
focused on the
development of smaller
production contracts
that will introduce
products and our
technology into the
market. This will allow
the Company to produce
immediate income and
recurring orders.
Management’s decision
was not only driven by
the ability to produce
immediate revenue, but
by the sentiment that it
is critical to get our
technology into the
marketplace quickly. As
multiple customers
utilize the product, it
can be recognized and
accepted as a superior
technology. Management
feels that wide
utilization of the
technology is the best
marketing and sales tool
that the Company has.”
Flexpoint wants to be
proactive and this
additional direction is
allowing the Company to
generate new momentum
and interest in our
technology, while
simultaneously pursuing
the larger contracts.
The Company intends to
provide an update on the
status of our current
and potential products,
including automotive
products, in the near
future.
Mower continued, “We
have recently announced
several production
contracts that have
further substantiated
this model. They include
the rupture/bursting
disks, the emergency
vehicle safety product,
the air flow monitor,
the controller for
products in a major
theme park, and
additional orders from
the Rome Tor Vergata for
next generation
interactive gloves. We
expect recurring orders
on many of these
products and to be
announcing additional
new production contracts
in the near future. It
has been exciting to see
the acceptance of our
technology in so many
different industries.”
Flexpoint Sensor Systems, Inc.
Manufactures a patented cutting edge flexible sensor that has also proven to be an extremely durable switch. The single layer Bend Sensor® product allows for the measurement of mechanical movement, air flow, water flow or even vibration. It can be used as a range of motion sensor, or as a durable, & reliable switch in most harsh environments. Flexpoint serves numerous industries including automotive, medical, industrial controls & more.
Forward-Looking Statements
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Contact:
Flexpoint Sensor Systems
Clark Mower, 801-568-5111
or
Chesapeake Group
Kevin Holmes, (410) 825-3930
Source: Flexpoint Sensor Systems, Inc.
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