DRAPER, Utah, April 8, 2014- Flexpoint Sensor Systems, Inc. (http://www.flexpoint.com/),
and Bend Tech LLC today announced they have executed an agreement for
completion of development for working prototypes of a shoe and golf
shaft that will utilize a series of bend sensors® in a high tech
training aid for golf.
Clark Mower,
President of Flexpoint stated, "We are excited to complete the
Development Agreement with Bend Tech which includes an aggressive
schedule for completion of the development and manufacturing of several
working prototypes that will be used in marketing of the training
device. This development agreement is unique because it is fully funded
by a third party and has a fast tracked schedule. The agreement calls
for the prototypes to be delivered before the end of the second quarter
of this year. Flexpoint will be paid upon completion of various
milestones during the development process. The agreement provides an
added source of income for the company during the second quarter of the
year. We should also have a completed Manufacturing Agreement with Bend
Tech during the next month."
Mower continued, "We had previously announced the alliance with Mitch Voges
who has tremendous experience and credibility in the golf industry and
has a great feel for what is needed. He has been extremely helpful as we
have defined the target audience and applicable technology for the
project. Completion of the working prototypes will give him the tools he
needs as he undertakes the marketing of the device and the creation of
alliances with major equipment manufacturers."
Mr.
Voges is a recognized expert in the golfing world, and has hands on
experience in the development of cutting edge golf simulators and
training devices. He pioneered the modern systems and methods for golf
club fitting and developed a number of original concepts resulting in
multiple U.S. Patents. His experience and contacts will prove invaluable
as the company completes development of the project and prepares to
launch the product into the golf industry.
Tony DeGreef,
manager of Bend Tech stated, "Based on the reaction to the discussions
we have had with major golf equipment and shoe manufacturers, we believe
that we will be able to market 100,000 units during the first six
months of our marketing effort and we should be able to sell a million
units over the next couple of years."
About Flexpoint:
Flexpoint Sensor Systems, Inc. (FLXT), (http://www.flexpoint.com/)
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's 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.
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.
Contact Information:Flexpoint Sensor Systems / Clark Mower, President / 801-568-5111
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