DRAPER, Utah, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Flexpoint Sensor Systems, Inc. (FLXT) today announces the receipt of purchase orders from multiple customers for the utilization of its’ Bend Sensor® technology in production of Medical/Medical IoT devices and VR/AR glove controllers. The company continues to target markets where the Bend Sensor® technology is differentiated and delivers real value. We anticipate a significant increase in revenue and product use as demand further accelerates.
Flexpoint has received multiple purchase orders from NEOFECT and other manufacturers, consisting of substantial size and volume in the fourth quarter. These purchase orders are from manufacturers of rehabilitation devices throughout Europe and are expected to be delivered before the end of year. NEOFECT is a 2018 CES, Innovation award winner, expanding their reach globally with their FDA approved RAPAEL Smart Glove rehabilitation support technology.
“We continue to be impressed with the size and quantities of purchase orders and feel it is a great kick-off for the first quarter of 2019. We expect to see this trend carry on throughout the following year,” said Paul Sexauer, Flexpoint’s Vice President of Sales and Marketing. “We anticipate a ramp up in revenue as the demand for our Bend Sensor® technology is on the rise and continues to enhance many segments worldwide,” concluded Sexauer.
Flexpoint is proud to announce the addition of a relatively new VR/AR/MR technology provider based in France - Bigger Inside; a full-body, immersive MR experience technology vendor Flexpoint began working with in 2018. Bigger Inside merges the real environment with that of a video game. The company very effectively launches a new type of a video game that uses large spaces like laser game rooms where the players are totally immersed into an imaginary world. Sexauer added, “This rapidly growing, dynamically evolving marketspace is not new to Flexpoint, and we are proud to continue to work with unique solution providers to deliver exciting new technologies to their customers.” Bigger Inside, featuring the Bend Sensor®, will be on display at the 2019 CES Conference (Las Vegas, NV) in Jan. 2019.
Flexpoint continues to work with popular vendors such as MANUS VR and others which have established market presence in this rapidly growing marketspace. They rely on the Bend Sensor® as integral components of their solutions. These relationships continue to have a significant impact on Flexpoint financial performance and show signs of tremendous growth on the horizon.
Please visit http://www.flexpoint.com/ for more information.
About Flexpoint Sensor Systems, Inc.
Flexpoint Sensor Systems, Inc. (FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor® single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
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
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