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Flexpoint Announces Anticipated Milestones for 2011

^{Published on 2011-01-11 05:11:23 - Market Wire}
 

DRAPER, Utah--([ BUSINESS WIRE ])--Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) ([ http://www.flexpoint.com ]) announced anticipated milestones for this year.

The following are among the goals and milestones expected to be realized this year:

• Execution of at least one long term/multi-year production contract for the automotive industry
• Development of additional products for a major automotive supplier
• Execution of two more major production contracts with Fortune 500 Companies
• Being cash flow positive this year with continued growth in profitability each quarter of 2011
• Ramping up of employees to include the ability to produce the products which we expect to have under contract. Additions are expected to include at least the following:
  • Electrical Engineer
  • Mechanical Engineer
  • Production Employees as required

The company also looks forward to continuing to produce under several of the agreements announced during the past year.

The President of Flexpoint, Clark Mower, stated, aWe closed last year with significant momentum on several different products. I believe the Company is in the best position in its history for development and signing of significant multi-million dollar production contracts. What is particularly exciting is that this momentum has been built on several different products and with many different Companies. Last year we focused on building up a number of smaller production contracts to get the Bend Sensor^® and Bend Sensor^® technology before the public and potential customers. The success of this effort has placed us in a position where our technology has been accepted in many different industries. This validation by multiple companies of the feasibility, reliability and cost effectiveness of our sensors and applications has created a platform where we are now able to pursue the larger contracts. We are now in position to realize the rewards of those efforts.a

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.