Flexpoint Sensor Systems Inc. (OTCBB: FLXT) was founded in 1995 to develop thick-film sensing technology for the automotive industry. Since then, the company has developed the thin-film Bend Sensor(R) for a myriad of applications targeting automotive, wearables, medical, industrial, and consumer markets. From its 14,000 sq. ft. HQ and manufacturing facility in Draper, UT, the company sells directly through global channels and via agreements with partners and an increasing list of distributors.
The company's primary end markets include:
These are just some of the many end markets that the company targets with its innovative Bend Sensor(R) technology. In the future, the company believes that the Internet of Things (IoT) and Industrial Internet of Things (IIot), where sensors are at the core, will become a large potential market.
Proprietary Technology. Flexpoint Sensor Systems' Bend Sensors(R) consist of a conductive silver ink that’s laid on a variety of substrates and, as part of its proprietary manufacturing process, micro-cracks are introduced at surface level. With motion, by sensing variation in the resistance between these cracks, the sensor can tell what kind of motion is occurring at a given point in time. The sensor technology performs equally well under normal or extreme environmental conditions and has proven to be extremely resilient. The Bend Sensor(R) is covered by five patents, including patents on specific devices incorporating the sensor, while the company continues to build its IP portfolio.
Diverse End Markets. Flexpoint Sensor Systems targets numerous end markets with its Bend Sensor(R) technology. In addition to its core automotive, consumer and medical end markets, the company is exploring IoT applications in conjunction with a specialty power plant equipment manufacturer and has established strategic relationships with IoT and IIoT software framework vendors in order to facilitate its breakthrough into the anticipated multi-billion-dollar market.
Predictable Revenue. Flexpoint Sensor Systems incorporates its sensor technology into third-party products. Under these agreements, the company generates either a royalty or sale for each of these product sales, which can create a predictable recurring revenue stream over time. Management anticipates revenue in excess of $1 million this year - over six times last year’s revenue - which will help it achieve positive cash flow over the near-term.
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