Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I’ve been hearing that for over four years now, hard to get in the least bit excited anymore, nothing comes to fruition,The company Is in dire need of some talented young blood.
Long holders will be rewarded, buckel up. Per the last financial statement there's alot of money to be made. I'm sure an news update is imminent.
CEO must pass the torch, he seems in capable of closing any contracts at this point.
From recent 10q- May 2021, Flexpoint announced that they have formalized a Joint Development and Supply Agreement between Flexpoint Sensor Systems, Inc. and De Amertek Corporation. The companies will work together and collaborate to develop electronics with integrated sensor technologies for an occupant classification system and other automotive products. We are currently collaborating on three separate projects with domestic and foreign automotive manufacturers. De Amertek is a leading designer and manufacturer of microelectronics and one of the most specialized sources of custom-made electronic modules. Headquartered in Chicago, IL, its world-class manufacturing facility and supply chain network exceeds customer expectations in quality, delivery, service and time to market. De Amertek is making way for futuristic developments and setting trends in the technology world.
In July 2021 we announced the addition of key resellers and partners in the Pacific Rim. These are companies Flexpoint has done business with in the past, and these moves strengthen and expand the strategic nature of the relationships. We are realizing new orders from them and anticipate additional immediate and significant volume purchases which will propel us further into existing key markets, as well as expand the reach of the Bend Sensor® technology into new vertical markets and geographies.
In July 2021 we announced that we are continuing to work closely with a Fortune 50 automotive company on the integration of a system utilizing Flexpoint’s patented Bend Sensor® technology which was included in a patent issued to the major automotive manufacturer. By utilizing Flexpoint’s technology, this manufacturer, along with Flexpoint, has created an innovative application for automobiles and trucks which allows them to optimize the ride quality of the vehicle. Flexpoint is actively working with the manufacturer on implementation of this new technology in vehicles.
In August 2021 we announced that the Company has entered into an agreement with a leading manufacturer of autonomous vehicles for the design and production of an impact detection system utilizing Flexpoint’s patented Bend Sensor® technology. This manufacturer is a significant player in autonomous vehicle development and production. The initial order will be delivered within 45 days with the probability of larger scale production occurring during 2022.
In September 8, 2021, we announced that they have recently entered into a new agreement with a major automotive manufacturer for the design and production of parts to be utilized in the finalization of an innovative application of Flexpoint’s technology for cars and trucks to maximize the ride quality of the vehicle. We believe this application will provide significant cost savings over existing systems and lead to wide spread application of this technology.
Additionally, we have seen significant market interest and the recent adoption of a variety of sensor applications including the Flexpoint seat occupancy sensor and the companies’ more sophisticated, Occupant Classification System (OCS), along with integration of the Impact Detection System. We are currently working with both North American and foreign automotive manufacturers on these systems. These companies include Fortune 50 automotive manufacturers as well as new, well financed companies in the EV and Autonomous Driving vehicle market spaces. We look forward to announcing production agreements with our partners and their anticipated production schedules as the agreements are formalized. We are also working on entering into an arrangement with a large after-market seller for seat products.
We also announced that Flexpoint continues to work with Resellers/Channel partners such as RobotShop, which has been a steady contributor of purchase orders throughout the past three years. We also receive orders from others such as Shopify, PayPal, Amazon and from orders placed on our website. Flexpoint is currently in the process of formalizing reseller agreements with international partners that have committed to develop markets for our sensors in their countries. We are working to increase this market area as it provides effective and significant growth and scale.
In the rapidly growing and emerging wearables space, Flexpoint has recently received additional purchase orders from multiple glove manufacturers across various market sub-segments, including medical, gaming and virtual reality. The “speed to market” commercialization plans of these companies are driving this increased order volume. Flexpoint is aggressively going after this evolving market. The Pandemic has slowed the orders and, while we cannot predict when the influence of the Pandemic will end, we have seen a recent increase in both the size and number of orders and expect this pattern to continue and increase throughout the remainder of 2021 following a return to business. In aggregate, Bend Sensor® wearables order volumes are expected to number in the tens of thousands in 2021. The wearables market segment is clearly one where our technology is easily adapted and truly illustrates our technological differentiation. Flexpoint’s willingness and ability to customize sensors for these innovative companies and deliver them at a competitive price point allows us to deliver real value to our customers. Again, the Global COVID-19 Pandemic has had a dramatic impact on the orders we have received.
On June 15, 2020, Flexpoint announced its largest order from Manus VR https://manus-vr.com/, consisting of 1,000 pairs of sensors for gloves to be phased into three deliveries. All of the products ordered have been delivered. We have recently received an even larger order for3,200 sensors from Manus VR. We delivered the first 800 sensors during the second quarter of 2021 and the remaining 2,400 sensors were produced and delivered during the third quarter of 2021. The Company’s Bend Sensor® continues to be a part of the world’s most trending sectors, one being the VR/AR market. The VR/AR industry is predicted to reach more than $25 billion by 2025 and show steady growth, thereafter.
Manus VR has many clients of large industries such as Netflix, Google, and Rolls Royce. Manus VR is widely known for its role in virtual reality gaming and recently announced its newest design, Manus Polygon. Manus Polygon is a tracking system that eliminates the need for any kind of full-body suit, providing a full-body solution for enterprise VR. Manus Polygon is the latest in real-time software to enable fluid full-body motion within any virtual environment.
These groundbreaking glove systems, combined with unique, leading edge software applications, also adapt to a wide range of other applications, including health rehabilitation, unmanned systems control, smartphone interaction and professional training across multiple industries. In addition to producing an array of Bend Sensors®, the Company is under agreement to supply integrated assemblies comprised of multiple sensor types and associated electronics.
In the VR/VA marketspace, orders of increasing size and frequency were received during 2020 from Manus VR and Neofect as they strive to fulfill production orders. Flexpoint also received orders from other global VR/AR customers during 2021. It is expected those orders will increase as the impact of the Pandemic enables business to resume operations.
16
Li-ion and Li-polymer batteries are used today in everything from phones to electric cars. Flexpoint’s technology included in the provisional patent provides a method to protect these batteries, their products and those who use them every day, measuring the expansion or swelling of the battery effectively stopping a potentially dangerous state.
Batteries become over heated, over charged, or simply fail due to old age. When this occurs, it is possible for the inner cells of the battery to outgas a flammable electrolyte mixture, causing the battery to swell. The Flexpoint Sensor addresses the swollen battery effect, as batteries are designed to contain as a failsafe the measure of out gassing. The Flexpoint Swell Sensor detects the condition, effectively shutting down the short circuit. Without this type of detection, some batteries can eventually reach temperatures over 1000º F. Designed to detect the dangerous expansion and stop a Lithium ion or Lithium polymer battery from charging or discharging, the Flexpoint battery expansion sensor was created to prevent thermal runaway—how most battery fires occur. The battery expansion sensor can detect a swollen battery and take appropriate action, effectively shutting it down and sending a notice to the user that the battery is no longer safe.
October 18, 2018, the Company announced it had signed a five-year manufacturing and supply agreement with Counted LLC. Counted LLC conceived of a medication delivery monitoring system and dispensing monitoring system. Flexpoint designed and produced the monitoring system with Flexpoint features, Flexpoint technology and Flexpoint designed electronics to track and report the dispensing of medications in real time. The information has the potential to be transmitted to physicians, pharmacists and government agencies. Prototypes have been built and successfully tested with additional production and testing continuing. Currently Counted has recently indicated that they have financing and are moving forward on the project...
Good Jesus, could something just once, launch this damn company, The never-ending story.
I called their Investors relations group listed on otcmarkets.com, they said they're working on an update to be released soon.
Did Clark PASS no new since big
Talk about fortune 50 co.
More B.S from him!!
Some people believe if you set a high GTC limit sell order for your shares that are unlikely to be triggered, that doing so will prevent market makers from lending your shares to short sellers. This is what locking your shares means. Some traders believe if enough long term holders do this, especially on low float stocks, that there could be a share supply shock causing a quick rise in price and short squeeze.
Is anyone going to answer my question?
Did mower say fortune 50 company
Or fortune cookie… all B.S
WHAT THE LOSERS SHOULD BE TALKING ABOUT IS REAL PURCHASE ORDERS
FROM THE AUTO COMPANY.
True, then also losses aren't real when buying pressure elevates the price
The gains aren't real if any selling pressure tanks the price..
Because everyone was enjoying their gains on this, myself included. Until some weakhanded punk dropped the price, came on here to find out why.
Added another 60kshares just now, volume is obviously light.. I have faith they will make a big deal in the near future
I have a million shares.. holding.
The guys name was John Kelly, he owned 5 million shares plus he was the one who injected 500 K into the flex coffers, I spoke with him on the phone a couple of times
That big influx of cash was when they were supposed to have the deal with the sensors to illuminate distortion and speakers, that fell apart, and that principle Had 5 million shares as well
I'm still holding, but I don't have a huge amount of faith in this company. I've been in and out of this stock several times since 2015. In that time they have had "deals in the works" for VR/AR gloves, medical applications, and seat occupancy detection for commercial trucks that I don't recall ever amounting to much of anything. One of those led to a large one time receipt of cash but no meaningful recurring revenue. I don't recall which one off the top of my head. I'll put faith in one of their "deals" when it shows up on a quarterly report.
The only thing I can say about today’s action that’s far, it’s probably just another person who got tired of waiting
I believe we will be repaid generously, it’s the time factor that pisses me off, I’m 76 I want it to happen while I’m still here lol
Don't feel bad. I held a bunch of shares through the run up to the high teens in 2016 thinking it was only the beginning. I used that as an expensive learning opportunity.
Probably, sad to say
I think you picked up some of my shares. I had 14k and change sell at $0.119 on 8/14/2019
Which one of y'all dumped 30k shares on the open to drop the price by 50%?
Is there any new posts on internet?
THE DEAL IS ALIVE
IT'S JUST MANAGEMENT THAT DOESN'T GIVE A CRAP ABOUT SHAREHOLDERS
Looks as if the for? Deal is dead… no
News for 7 weeks as usual!!
Fortune 50… need update ,goings on 4 weeks!! No news
I agree, but they were probably locked into a long-term not well negotiated lease, I was trying to think on the positive side that it was additional warehouse space and they were ramping up for large production of whatever, if nothing happens within six months I have no choice but to pull out of this loser.
SHOULD HAVE DONE IT YEARS AGO AND SAVE $. LOSERS.
FARMING OUT MAJOR MANUFACTURING LIKE AUTO NOW ANYWAY IF THEY CAN EXECUTE
IN HOUSE STUFF PROBABLY GLOVES, 3D STUFF ETC. HOPEFULLY NEW SPACE HAS BIG EXIT DOOR FOR PRESENT MANAGEMENT. WAY PAST DUE JUST LIKE OFFICE SPACE.
Thanks, well I’m sure they’re glad to be done with that lease, as most of us shareholders are, hopefully some really good news is right around the corner
It's for their new location. Their lease with add ons was $14,635 at their old location. Their new location's lease is $3,786. That's a savings of $10,848 a month, $130,176 annually
New Filing today , not sure if it’s a New Warehouse/office, or an additional warehouse/office
IMO The share structure is amazing, it'll move fast when buyers come in and beer money flippers come to their senses and hold longer term.
Yup, I have average down to .085/ share I got in about four years ago when it was running high. Hoping for a big pay off for all this money being tied up for four years, as long as it happens I’ll be happy
Followers
|
32
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
2350
|
Created
|
10/19/08
|
Type
|
Free
|
Moderators |
FLXT SHARE STRUCTURE, as of May 14, 2015
Outstanding shares 58,827,114
Authorized shares 100,000,000
Contact Information | Business Description |
Flexpoint Sensor Systems, Inc. 106 West Business Park Drive Draper, UT 84020
| Flexpoint Sensor Systems (FLXT) was founded in 1995 to develop thick–film sensing technology for the automotive industry. In 1995, Flexpoint was a Sensitron company and became part of the operations of Micropoint, Inc. through a merger in April 1998. Soon after, Flexpoint’s principal members saw a potential application for the more sophisticated Bend Sensor in “smart” airbag development. They trademarked the new technology as the Bend Sensor. Flexpoint will continue to produce the Bend Sensor for other applications, including those in the medical, industrial controls, consumer products and toy industries at its 14,000 square foot manufacturing facility in Draper, Utah. The company is also developing a line of products that will be widely available through manufacturer’s representatives and online at this site. |
From 10-Q dated 5/14/15 (Please read document in its entirety as this is just a part of the entire disclosure)
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
EXECUTIVE OVERVIEW
Flexpoint Sensor Systems, Inc. is an innovative technology firm specializing in developing products that feature the Company’s patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automobile, safety, medical and industrial industries. The Bend Sensor’s single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. We currently own six patents and through our research and development, efforts are in the process of filing for more that include fully integrated products being sold and supplied to our limited customer base. We have also jointly developing additional commercially viable products, including a universal sensor that will be used in the automotive, medical and industrial industries.
Our plan for the balance of 2015 is to concentrate our marketing efforts and limited financial resources on current projects that we believe can be brought to market in the shortest period of time. We anticipate having additional products featuring our patented Bend Sensor® technology on the market over the next 8 to 12 months including products in the medical, sport shoe, residential home care and industrial control industries.
Over the past year we have been enhancing our relationships with various automotive Tier 1 suppliers as they have continued testing and proving our patented horn and seat switch reliability. Previously we announced that our steering wheel horn pad received implementation ready status for a U.S. Fortune 100 automaker that has also identified up to four vehicle platforms being considered for the Company’s longer lasting and more cost effective horn switch. The horn system has successfully completed in-vehicle testing which requires that the system be installed in a vehicle and driven for 150,000 miles without failure. The horn passed the extensive testing process without failure.
We continue to develop new types of products for our Bend Sensor® technologies and continue to receive small repeat production orders from existing customers. We have made improvements on our initial prototype for a Home Monitoring Presence Detection System using our Bend Sensor® technologies and have received development and design orders from various industries. In addition to the horn switch, we have continued to work with market makers and Tier I automotive suppliers in the U.S and Europe on numerous other applications for our sensors and devises. Based upon our discussions within the automotive industry in the U.S. and Europe our unique sensor systems meet the requirements for manufacturers to have lighter weight, more fuel efficient cars. Our Bend Sensor®is lighter in weight, has fewer moving parts than conventional sensing devices, is more versatile and, due to its unique design is more cost effective. Product and design changes in the automotive industry are slow, averaging two to three years before actually being incorporated into a commercially viable automotive platform. Because of our recent work with several Tier 1 suppliers, we have shown the Bend Sensor® to be viable as the next generation of sensing devises to the industry. Due to the advanced technology of the Bend Sensor® and its versatility of applications, we anticipate being a part of the changes taking place in the automotive, energy and technological industries.
We previously announced that we had completed the electronics and software that will be used in a running shoe and other sports related products. It also is a critical piece of the golf training aid that Bend Tech LLC will market. Beyond its sport and recreational value, golf is a major industry that generates jobs, commerce, economic development and tax revenues for communities throughout the country. The total size of the golf economy nationally was estimated at $68.8 billion in 2011, up from $62 billion in 2000.
As part of the golf training project the Company entered into a development agreement with Bend Tech, LLC to manufacture working prototypes of a golf shoe and golf shaft that will utilize a series of Bend Sensors® in a high tech training aid for golf. Flexpoint was paid upon completion of various milestones during the development process. The agreement provided an added source of income for the Company during the 2014 year. In July, the Company and Bend Tech announced that all work under the development agreement has been successfully completed and that they were working on finalizing a manufacturing agreement.
In January 2015, at the CES show in Las Vegas, Nevada, Veristride received an award for a shoe utilizing our sensors. The use of sensors in wearable shoes and devices is a significant market. In March 2015, we announced the finalization of a manufacturing and distribution agreement with Bend Tech LLC for the company’s smart shoe insole system. We will produce and distribute sensors to Bend Tech which will be used to create the Mettis Trainer.
We successfully completed PhaseTwo of the disposable directional colonoscope for Haemoband Surgical, Ltd, a Northern Ireland based company that specializes in unique medical devices last year. We subsequently made a partial delivery of the products required by Phase Three and completed the delivery of all products for Phase Three by the end of the 2014 fourth quarter. Under the terms of the agreement, we received a milestone payment upon completion of delivery for Phase Three. We are now proceeding through Phase Four and Phase Five, the final phases that will bring the project to completion and commercialization. With the successful completion of Phase Three management believes the Company moves closer to an agreement for a long-term contract with Haemoband. The estimated volumes quoted for this device are between 500,000 to 1 million sensors annually. The application will use a sensor that is an adaptation of a sensor that we already have commercially available; therefore, the cost associated with the development of this medical application has been marginal. It is estimated that the annual demand for colonoscopy procedures ranges from 2.21 to 7.96 million in the United States and as the overall population continues to age more procedures will be required. One of the difficulties with the procedure is providing an inexpensive means of locating the exact position of the colonoscopes. With the use of our sensor array and monitoring equipment, the initial testing has shown that with the Bend Sensor® technology it is possible to locate the positioning of the colonoscopes. It is anticipated that completion and commercialization of this product will open up significant other markets for additional products that uses similar equipment for other unrelated products in the medical industry.
The Company continues working with HTK Engineering, LLC and Vista Brake who are currently marketing their safety mechanisms specifically designed for garbage trucks and other large commercial and emergency vehicles. Most commercial vehicles have an "air braking system" which can lose pressure and disengage the brakes while the vehicle is still running. Our Bend Sensor® technology is the key component of the HTK and Vista's systems, which provide a backup braking system preventing the vehicle from inadvertently rolling into people, buildings or other vehicles. Part of the marketing effort has been to involve insurance companies who have paid claims related to the initial brake failure. Because our jointly designed systems are easily installed and adaptable to most vehicles, insurance companies have indicated they would provide a reduction in premiums should their customers install one of these systems. There are over 179,000 garbage and recycling trucks in use in the United States and HTK is also pursuing opportunities for the system throughout Europe and Asia.
We continue to receive development orders from Intertek Industrial Corp. for their ProTek System. The ProTek System is an automotive seat-monitoring device integrated into emergency response vehicles. This monitoring device places the Company’s Bend Sensors® in each rear passenger seat with a monitor viewable to the vehicle’s driver. The foolproof system informs the driver if the emergency medical technicians are seated and properly secured prior to departure and while the vehicle is in motion. The system is installed in the seats of the rear compartments of the emergency vehicle and provides the driver with constant feedback as to the “seated and secured” status of passengers and personnel in the rear of the vehicle. The system is currently installed in ambulances and is being tested for use in other types of emergency vehicles. Through its relationship with Intertek, the Company has further validated its technology in the automotive and safety industries and is currently working with other companies on similar systems for buses, cabs and heavy equipment operators to ensure the safety of the their passengers and drivers. A national surge in ambulance accidents has called for increased safety standards for emergency vehicles. Due to the rise in injuries and fatalities that result from these accidents, the National Fire Protection Association (NFPA) has taken on the task of rewriting the ambulance standard. The proposed legislation will require a safety system similar to Intertek's ProTek System, which will give Intertek a significant competitive advantage being first to market with an already proven system that will meet the legislative requirements.
Using our Bend Sensor® technology the Company has developed a patented medical bed and with the settlement with R&D Products and Mr. deGreef we are now able to openly market this unique bed. Because of the Bend Sensor’s® predictability the accompanying electronics of the bed are able to determine the position of the person in the bed and how they are moved. The bed has the ability to roll a patient left or right to relieve pressure areas that can cause bed sores or other life threatening complications for patients that are bed ridden as well as facilitate dressing changes. Needed adjustments can be programmed into the bed to relieve pressure areas to meet the required standards for patient care and comfort. We anticipate that progress on this application will follow completion of the running shoe application. Our Bend Sensor® technology has many other medical applications that the Company is pursuing.
The Company anticipates marketing a similar bed as part of an in-home specialty mattress. The specialty (non-innerspring) segment of the bedding market has been growing rapidly over the past six to seven years. With the increasing demand of specialty mattresses, almost every commercial mattress company has a specialty bed they promote. The Company has had some discussions with mattress companies who have expressed interest in the concept. Mr. deGreef has been intimately involved with the medical mattress and other products that have been placed on hold during the lawsuit, and has successfully marketed these products in prior years. Mr. deGreef is currently in discussions with additional interested clients.
Our patented technology continues to gain recognition in various markets and industries as evidenced by the recent receipt of an initial production order from CPS Color Equipment S.p.A Italy and orders from a Fortune 100 automotive maker for our horn system. Although, so far the volumes for our applications and devises have been relatively small we continue to receive follow up orders for the universal sensor that we jointly developed last year. We expect to receive additional orders from other customers for this sensor as it becomes more recognizable in the market. Currently our customers for this type of sensor include companies in the following industries: automobiles, trucking, emergency vehicles, public transportation, military and other governmental entities. As anticipated, the Company is beginning to see the potential for more significant volumes and revenues from the sale of this sensing devise over the next year and beyond.
Finalizing additional long-term revenue generating production contracts with other customers remains our greatest challenge because our on-going business is dependent on the types of revenues and cash flows generated by such contracts. Cash flow and cash requirement risks are closely tied to, and are dependent upon, our ability to attract significant long-term production contracts. In the short term, we must continue to obtain funding to operate and expand our operations so that we can deliver our unique Bend Sensor® and Bend Sensor® related technologies and products to the market. Management believes that even though we have made positive strides forward with our business plan, it is likely that significant progress may not occur for the next three to six months, primarily due to the time it takes for negotiating such contracts. Accordingly, we cannot guarantee that we will realize significant revenues or that we will become profitable over the next six to nine months.
Management believes with the signing of the development agreement with Bend Tech and receiving the exclusive rights to a group of products that have proven in the past to generate revenue streams, and the recent orders received for its automotive and industrial control devises, the Company is on the threshold of growing its customer base that should help in producing long-term production contracts that will be sustainable in the near future.
.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |