Flexpoint Sensor Systems, Inc. (FLXT)

[chinzel1]

I'm guessing that the call-in concerns Flexpoint's Annual Meeting on Friday, December 28, 2018, & their input on why you should vote in favor of:

1)To amend Flexpoint’s Certificate of Incorporation to effect an increase of the authorized common stock from One Hundred Million (100,000,000) to Two Hundred Million (200,000,000); &


2)To amend Flexpoint’s Certificate of Incorporation to effect a reverse split (the “Reverse Split”) of the Company’s issued and outstanding common stock by a ratio of 1-for-50.

There's more, but the 1st 2 are big 1s. I've rarely seen either of these work. By voting yes you're basically authorizing the company to reduce the number of authorized shares from 100,000,000 to 2,000,000; then up to 200,000,000 which is equivalent to 10,000,000,000 shares at pre-reverse split pricing.

The companies always present the line that by increasing the share price (e.g. by 50 fold) through a reverse split the stock becomes more attractive to investors, & more. What usually happens is that immediately following the reverse split as that the stock begins a free-fall to pre-reverse split price levels. & the company then begins to issue more shares to raise funds because their shares aren't worth as much.

I urge all shareholders to vote "NO" on both of the aforementioned. Flexpoint is making good strides, & if they're going to continue to make strides, they need to do it the old fashion way & earn it.