Flexpoint Advances Automotive and Trucking and Relationships

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  Published in Science and Technology on Thursday, December 22nd 2011 at 10:42 GMT by Market Wire
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Flexpoint Advances Automotive and Trucking and Relationships -- DRAPER, Utah, Dec. 22, 2011 /PRNewswire/ --

DRAPER, Utah, Dec. 22, 2011 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) [ http://www.flexpoint.com ] today provided an update of their progress in the automotive industry.

The Company is diligently working with automotive manufacturers on a number of applications in the automotive industry.  We have now completed the preproduction requirements on one of these applications and are progressing on other applications and working toward a production contract with a major Tier 1 supplier for the first application. The Company anticipates that once these products are in production they will generate millions of dollars in annual revenue.

Clark Mower, President of Flexpoint stated, "I have never been more optimistic about the future of the Company, and the progress of the automotive contracts.  While the process has taken longer than originally anticipated, significant advances have and been made and we are moving forward with both the automotive and truck related contracts that have been previously disclosed. Because of the competitive nature of the automotive industry and the size of the Companies involved, we were required to execute confidentiality agreements that prevent us from disclosing details of our relationship, including specifics about the development of the product."

Mower further stated, The Company continues to actively work on a regular ongoing basis with the manufacturers and Tier 1 suppliers involved and have had discussions on advancing the products and production of the sensors involved even during this week when many in the industry are already beginning their Holiday vacation. 

In response to a number of recent inquiries I feel compelled to respond to our shareholders. In my nearly seven years as President of Flexpoint I believe that the opportunities that the company is developing with the automotive, trucking and at least a dozen other applications will result in our best year ever in 2012.  As for the ability of the Company to fulfill production orders, let me assure the shareholders that I feel confident that no matter what the size of the contracts or orders received that we have the ability to complete the transaction, and in fact have recently received and delivered a previously unannounced order from Bridgepoint.

I know that our shareholders are result oriented and at this point I feel confident that the Company will be able to deliver results in the near term.  We are excited as a Company to move into the New Year with its many opportunities." 

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.

RELATED LINKS
[ http://www.flexpoint.com ]