Flexpoint Sensor Systems Inc. (OTCMKTS:FLXT) Talks about Successful Delivery
Flexpoint Sensor Systems, Inc. (OTCMKTS:FLXT) specializes in developing products featuring its patented Bend Sensor and related technology. Bend Sensor is a single-layer, thin film construction that minimizes costs and mechanical bulk while introducing a range of functions and stylistic design possibilities. It continues to work wonders in revolutionizing applications in the automotive, safety, medical and industrial industries.
Market Stats
On Wednesday, FLXT stock moved down 18.75% to $0.0260 with more than 396K shares, compared to its average volume of 157K shares. The stock moved within a range of $0.0260 – 0.0335 after opening trading at $0.0355.
Flexpoint Announces Delivery of Orders of Impact Detection Sensors to a Leading Manufacturer of Autonomous Vehicles
Flexpoint Sensor Systems, Inc. announced on August 03, 2022, about its initial deliveries under the second purchase order for an Impact Detection System. According to a prior announcement, the company has signed an agreement with a manufacturer/OEM to provide an impact detection system for their autonomous vehicles in the United States.
The company’s flagship product – Bend Sensor, continues to be highly sought after as the Virtual Reality (VR) market grows and demand for innovative medical equipment goes up. It is strategically placing the Bend Sensor throughout the vehicle so that it can play a crucial role in the advancement of autonomous vehicles in the marketplace. Autonomous vehicles are driverless and capable of sensing their environment and moving safely with little or no human input. After production starts, purchase orders are expected to escalate over the next several years.
Clark Mower, President of Flexpoint, has expressed great excitement to have their technology involved on the ground floor of this important achievement in the automotive industry. He added that they aren’t limited to an exclusive arrangement with this manufacturer, so they should be able to market a similar system to other autonomous vehicle manufacturers. The expansion of this application could boost annual revenues exponentially.
Flexpoint Announces Delivery of Orders of its Patented Bend Sensor(R) to Top Virtual Reality Leaders of the Glove Sector
On July 28, 2022, Flexpoint Sensor Systems had announced the timely delivery of previously mentioned orders from top virtual reality leaders, Manus VR and Neofect. Clark Mower had commented that they are happy with the reception of our sensor technology in so many varied and diverse applications. It is an illustration of the development cycle and possibilities that exist with this technology. There have been numerous advancements in the gaming and medical glove sectors and it is amazing that Flexpoint’s patented Bend Sensor technology continues to be a leader in these industries.
According to projections and forecasts from The Future of Autonomous Vehicles, McKinsey had come up with an estimate that 15% of new vehicles sold in 2030 could be fully autonomous, while Accenture suggested that by 2035; as many as 23 million autonomous vehicles will be on US highways- just under 10% of all registered cars and trucks. On the other hand, the value of the global autonomous vehicles market, projected by Goldman Sachs, should be $96 billion by 2025.
Traders Corner
FLXT stock is trading below the 20-Day and 50-Day Moving averages of $0.0283 and $0.0292. Moreover, the stock is trading below the 200-Day moving average of $0.0484.
