Today, Flexpoint Sensor Systems, Inc. announced that it has modified the company’s business model to focus aggressively on smaller contracts and production orders that can produce immediate income.
Flexpoint aims to take a proactive approach, and the new direction will allow the company to generate new momentum and interest in its technology, to complement pursuing the larger contracts. Flexpoint will provide an update on the status of its current and potential products (including automotive products) in the near future.
Clark Mower, President of Flexpoint Sensor System, stated, “We have recently announced several production contracts for a variety of products featuring Bend Sensor® technology. The Company, since the last quarter of last year, has focused on the development of smaller production contracts that will introduce products and our technology into the market. This will allow the Company to produce immediate income and recurring orders. Management’s decision was not only driven by the ability to produce immediate revenue, but by the sentiment that it is critical to get our technology into the marketplace quickly. As multiple customers utilize the product, it can be recognized and accepted as a superior technology. Management feels that wide utilization of the technology is the best marketing and sales tool that the Company has.”
Mower continued, “We have recently announced several production contracts that have further substantiated this model. They include the rupture/bursting disks, the emergency vehicle safety product, the air flow monitor, the controller for products in a major theme park, and additional orders from the Rome Tor Vergata for next generation interactive gloves. We expect recurring orders on many of these products and to be announcing additional new production contracts in the near future. It has been exciting to see the acceptance of our technology in so many different industries.”