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Last updated on April 20, 2014 at 19:30 EDT

Flexpoint today announced an update on progress with automakers

June 5, 2012

DRAPER, Utah, June 5, 2012 /PRNewswire/ — Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) today announced that its patented Bend Sensor® has passed a Fortune 500 automaker’s difficult advanced-stage test for a major car component. Flexpoint is confident that its technology will clear the remaining hurdles and that a large annual contract will follow.

“This is one of the most demanding, limit-pushing testing cycles that this major automaker performs and we were gratified to see our technology perform so strongly,” said Flexpoint President Clark Mower.

Work with another Fortune 500 auto manufacturer also continues to progress, including discussions of new ways to incorporate Bend Sensor technology into more car components.

“Once our partners begin working with Bend Sensor technology, they often find ways to adapt it for new uses and to replace old, more expensive components,” Mower said. “This process of expansion, while exciting, spells more waiting time as new rounds of testing are required for each new use of our technology. But the potential for an expanded contract is well worth the wait.”

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.

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.

Flexpoint Sensor Systems

Clark Mower, President, 801-568-5111

Brokers and Analysts:

Chesapeake Group

410-825-3930

SOURCE Flexpoint Sensor Systems, Inc.


Source: PR Newswire