This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Flexpoint Integrating Bus Occupancy Solution With Pink Power Technology

DRAPER, Utah, Nov. 13, 2012 /PRNewswire/ --  Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) today announced that it is finalizing work necessary for inclusion of its sensors in a seat occupancy system for buses with Pink Power Technology (PPT), a luxury technology company based in Mumbai, India.  Please see www.pinkpowertech.com for more information.   

India has one of the most extensive busing systems in the world, with some 2,000 different carriers serving tens of millions of passengers on a daily basis.  Many times these seats are sold out months in advance.  Earlier this year, the government announced plans to roll out at least 85,000 buses in the next five years in its bid to improve public transport. PPT is well-connected in India's bus industry and has been eager to develop a system that will meet clients' demands for occupancy detection on their bus fleets.

Development has already progressed rapidly since PPT first contacted Flexpoint two months ago seeking their partnership for development. In particular, PPT was impressed by Flexpoint's thin-film Bend Sensor ® technology and the ease with which it can be installed in virtually any seat.  PPT is  an enthusiastic  partner and  is pleased by the Bend Sensor's ® many competitive advantages, most notably durability and reliability. Flexpoint has since been working closely with PPT executives and engineers on the passenger detection system, which utilizes Flexpoint's Universal Sensor. The companies are now exploring the means through which data from the sensors will be aggregated and transmitted for monitoring. Several solutions have already been identified .   

"This system should be completed and ready for rollout by late 2012/early 2013.  Flexpoint currently anticipates that an initial order could fall in the $250,000 - $1,000,000 range and could escalate substantially from there as PPT outfits more and more buses with our combined system.  They are looking at placing sensors in tens of thousands up to hundreds of thousands of seats. We are excited to be working with PPT on this system, which utilizes one of our innovative plug-and-play solutions to meet the demands of their clients," said Clark Mower, Flexpoint CEO. "We have been impressed with their diligence on this project and are gratified to see it moving along so quickly. This project represents progress in our business strategy and we look forward to providing further updates as they become available.  We have had numerous inquiries for similar systems from companies located in a variety of international destinations and this system will enhance our opportunities for these other areas as well."   

About Flexpoint:

Flexpoint Sensor Systems (OTCBB: 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'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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,154.77 +123.63 0.73%
S&P 500 1,998.89 +14.76 0.74%
NASDAQ 4,544.59 +25.6880 0.57%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs