DRAPER, UT — (Marketwired) — 07/02/13 — Flexpoint Sensor Systems, Inc. (OTCQB: FLXT), () today announced that following the recently announced favorable universal settlement in the legal case involving a series of products featuring technologies that use Bend Sensor® technology, Flexpoint has resumed development of two projects with BendTech, LLC, which feature Flexpoints- Patented Bend Sensor® technology.
BendTech is currently in the process of finalizing funding arrangements to complete the development and production for commercial launch early next year. BendTech envisions that the product will be marketed to and through a limited number of bed manufacturers. After a review of the current market, and the cost and time required to complete development and to have a product ready for market, BendTech has determined that they will focus on development of the following projects:
According to Pediatrics Journal, Nearly 10,000 children are taken to the emergency room each year — an average of one every hour — after falling or becoming wedged or caught in cribs, playpens, and bassinets that can easily be prevented.
SIDS or Sudden Infant Death Syndrome and SUDC or Sudden Unexplained Death in Childhood
Over 3000 infants die from SIDS and SUDC in the U.S. each year
We can help create a safe sleep environment, (as defined by the National Institute of Child Health and Human Development), by constant real time monitoring of infants sleeping positions, movement and temperature. We can send an alarm when sleeping environment has changed
Over 2.5 million adults are in assisted care facilities now
It is estimated that number will increase to over 3.3 million by 2020
Tony DeGreef of BendTech stated, “With the advantages available utilizing the Bend Sensor®, we believe that we can help create a safe sleep environment for infants in cribs, help parents monitor their infants and keep them safe at a low cost. With slight variations, the same technology can be adapted to monitor adults in assisted care facilities and assist medical workers maintain a proper standard of care for patients by monitoring and tracking patient activity. Since the technology of the products is so similar, development on both systems will take place simultaneously. Both of these systems will include interactive monitoring devices for real time monitoring of the infant or adult in the bed.”
Clark Mower, President of Flexpoint stated, “We are pleased to be involved again in the development and production of sensors for these innovative and creative products. There are significant advantages offered by the application of the Bend Sensor® technology in these products. The products involved represent years of innovative development, and we are excited to see them progress and be positioned to realize their significant market potential.”
Flexpoint Sensor Systems () 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.
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
801-568-5111
BendTech, LLC
Tony DeGreef
(801) 897-8669
Brokers and Analysts:
Chesapeake Group
410-825-3930
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