Flexpoint Sensor Systems (OTC:FLXT) is a supplier of sensor technology. The company manufactures a patented flexible sensor, which allows for the measurement of a wide range of events.
The price of FLXT has been volatile of late. Yesterday, it gained 26.67% on 209 thousand shares. The closing price reached $0.38.
The announcement behind the price jump was issued before the market opened yesterday. FLXT said it was working with “a leading producer” of wireless technology to develop wireless capability for its product.[BANNER]
The PR doesn’t reveal the name of the producer. Additionally, it doesn’t provide much in the way of concrete information. The President of FLXT stated he were excited about the potential of such a product. He went on to say the company had received inquiries on the technology, but fails to specify any names.
The press release did give a time frame for the product. FLXT anticipates beginning production and marketing of the system at some point in late 2012.
Other than promising forward-looking statements, FLXT doesn’t have too much to offer at this point. It is still a development-stage company, in the sense that it has no significant production or revenue. It is not surprising then that it has negative working capital and recurring losses.
If FLXT succeeds in implementing its plan, shareholders could get some return on their investment, but short term the most probable thing shareholders will get is dilution due to the lack of funding for day-to-day operations.
