A government deal could be called the “Holy Grail” for a small cap company. Even if the original contract isn’t very large, it is a huge vote of confidence and legitimizes a company, not to mention the potential for future purchase agreements.
Flexpoint Sensor Systems, Inc. manufactures a patented flexible sensor that has also proven to be an extremely durable switch. The single layer Bend Sensor product is very versatile and has unlimited uses as it permits measurements of mechanical movement, air flow, water flow, or even vibration. Per Flexpoint, the sensor has been tested to over 35 million cycles without failure. The multi-use capacity of the sensor system is evident in the variety of companies that are using the Company’s flagship product.
As implied by the opening sentences, Flexpoint has now tapped into the U.S. government with its sensors. Today, the Company announced that it has received an order from the National Aeronautics and Space Administration (“NASA”) to supply their patented Bend Sensors®. Much to the chagrin of the investment community, details were not able to be released at this point.
Clark Mower, President of Flexpoint, commented, “It is exciting to receive a development order for our sensors from such a prestigious and forward-thinking organization. While we cannot currently disclose the application, it opens up a whole new and expansive area of potential use of our technology. It is gratifying to continue to receive validation of our technology from so many sources. This product will be delivered to NASA during the current quarter.”
This order comes on the heels of an announcement earlier this week that Flexpoint had received a follow-up order to supply their bi-directional Bend Sensors®. Again, details were sparse, but it was reported that the client company offers products used in industrial control, medical, consumer and building automation. Followers of Flexpoint know that the Company is short and sweet with their press releases, but the stock price of FLXT could grow long legs again with continued news of this nature. Shares began the week at 20 cents, but have risen to touch 35 cents in intraday trading today.
Interested parties can find more information on Flexpoint and its sensors at www.flexpoint.com