Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) http://www.flexpoint.com
today announced that through a joint venture relationship, they have
completed the development of a sensor and integration of a housing
utilizing the patented Bend Sensor ® for use in multiple seat
related applications.
Clark Mower, President of Flexpoint stated, "The completion of the
development of this seat sensor is significant because it provides a
universal stock product that will meet the needs of many customers.
Previously the Company developed and produced specialized custom sensors
for each customer’s application. This is the first of many stock sensors
that can be utilized in a wide variety of applications and can be
produced in volume which allows for better pricing and availability of
the sensor. It will be a great benefit for the Company to have a sensor
for the many and varied requests we receive for a robust and accurate
seat occupancy detection device. This is the culmination of a
significant development effort and should lead to significant recurring
revenues as application of this sensor grows. We have a number of
customers who have been waiting for completion of the development of
this sensor. We are currently finalizing a Joint Venture Agreement which
will include ownership of the intellectual properties related to the
device. The Joint Venture Agreement is particularly exciting because it
brings a significant marketing and sales network for the device and
opens additional sales avenues for the sensor. I believe that this is a
significant step for the Company and its technology to reach a method of
producing and delivering sensors to mass markets.”
About Flexpoint
Flexpoint Sensor Systems (FLXT) is a leading supplier of thin film
sensing technology to many industries, including automotive, medical,
industrial controls, and consumer products.
Flexpoint manufactures a patented new 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. In addition, it has been tested to over
35 million cycles without failure. It can be used as a range of motion
sensor, or as a very durable, very reliable switch in most harsh
environments. The breadth of applications for our sensor is limited only
by one's imagination.
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About the Bend Sensor: www.flexpoint.com/companyInfo/bendSensor.htm
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Brochure: www.flexpoint.com/technicalDataSheets/FlexpointBrochure1.pdf
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.
