DRAPER, Utah, Dec. 20, 2012 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) today announced that it has initiated the patenting process for its innovative horn pad, which replaces costly, environmentally degrading springs, metals and heavy plastics with ultra-thin Bend Sensor ® technology. This new patent will expand the current patent for the horn sensor and pad design. Once issued, this intellectual property will be protected for twenty years from the filing date.
Given the numerous competitive advantages associated with the technology, Flexpoint has determined that it is in the Company's best interest to obtain additional protections against attempts to copy or pirate the innovative horn design. With the horn pad fully validated through rigorous industry-standard testing, Flexpoint is currently marketing the product to major automakers as a complete turnkey solution.
Comparisons between Flexpoint's horn pad and existing horn assemblies show that it can cut costs by up to 60% by eliminating costly mechanical bulk such as springs, brackets, heavy plastics, and metal. The Bend Sensor ® is also a more durable solution, with a lifecycle extending into millions of actuations without failure or change in performance. Several well known automotive brands have issued recalls due to faulty horn pad sensors which can affect air bag releases and other steering controls in addition to the horn. Although Bend Sensor ® technology is already under patent, this new patent will enhance the configurations for the horn pad designs which will be covered under patent protection. The horn pad features prominently in Flexpoint's auto industry expansion over the next several years.
"We have been working hard over the past few years to complete this horn pad design and we fully expect that it will help us rapidly expand our presence in the auto industry," said Flexpoint CEO Clark Mower. "We see a number of factors aligning that we believe will allow us to expand our revenues rapidly. The auto industry is recovering strongly and the demand for cost-effective, eco-friendly solutions has never been greater. We feel our technology is a perfect fit for these demands and patenting our horn pad design will enable us to adopt a more aggressive marketing approach. As the horn pad design utilizing our sensors is incorporated into a large number of automobiles in the upcoming months and years, it is important to make sure that the our proprietary innovations are protected."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 StatementsThis 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 PR Contact: Chris Mumford801-568-5111 Brokers and Analysts:Chesapeake Group410-825-3930
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