Flexpoint Sensor Systems Receives Purchase Orders as Sales Continue to Accelerate

Flexpoint Sensor Systems, Inc.

Companies Mentioned:

Primary Exchange: OTC PINK
Under the Symbol: FLXT

$0.08

$0.0024

2.92%


Flexpoint Sensor Systems Receives Purchase Orders as Sales Continue to Accelerate

Thursday, August 29, 2019 8:00 AM

Flexpoint Sensor Systems Receives Purchase Orders as Sales Continue to Accelerate

DRAPER, UT / ACCESSWIRE / August 29, 2019 / Flexpoint Sensor Systems, Inc. (OTC PINK:FLXT) is pleased to announce it has recently received multiple, follow-on production orders from global market virtual reality leader, Manus VR. The orders, totaling nearly $40,000, are for a new production variation of their glove, allowing them to continue to be a market leader. Manus VR recently launched the brand new Manus Hand Mount, made to position the tracker on the hand, improving the native accuracy significantly. Using the new hand mounts removes the need for calibration, as well as drift. The sensors are expected to ship during the current quarter. As expected, the orders from Manus VR continue to grow in size and frequency.

Manus VR and their award-winning technology are at the forefront of this fast-growing industry. Manus VR is the world’s leading company for data gloves and is one of the few companies that measures the orientation of your hand, which allows full finger tracking. The glove is completely wireless and along with Flexpoint’s sensors, includes other technology partners. The product provides plugins for many of the major platforms. The Manus VR gloves bring solutions for VR simulations, motion capture, robotics and healthcare.

Established in 2016, Manus VR successfully brought to market a feature-rich glove offering. The glove integrates a number of technologies into a unique and truly inspired design. Manus VR has further realized their vision in supplying the industry’s finest components that integrate with various hardware platforms offered by such notable companies as HTC, Vicon, Xsens and others. Some of their more recent visionary partners include ESI Group and WorldViz.

“Flexpoint is proud to be fully integrated into the virtual reality product from a prestigious firm like Manus VR. These orders are important while we continue to work with several companies in other industries. We still anticipate larger orders across a variety of applications in the near term, but these orders with ongoing customers validate our technology. We continue to appreciate the long-term business partnership that is mutually beneficial. This relationship grows stronger as we continue to enhance and improve the technology. This reinforces our unique position in the rapidly evolving VR market,” stated Clark Mower, CEO Flexpoint Sensor Systems, Inc.

VR/AR will be an $80 billion market by 2025 according to Goldman Sachs. By comparison the TV market is $99 billion, the tablet PC market is $63 billion and the video game industry is $11 billion.

In addition to the gloves, Manus VR has developed a software development platform (SDK) that enables customers like those named above to design and build applications that extend far beyond virtual reality. This opens up a strong portion of the market that includes manufacturing, retail, healthcare, engineering, military and real estate applications.

Please visit http://www.flexpoint.com/ for more information or https://manus-vr.com/.

About Manus VR

The Manus VR glove will revolutionize the VR market. It is set to play a huge role in the virtual reality revolution. Manus VR believes in open innovation through sharing knowledge and experience. The possibilities of the Manus VR gloves are virtually endless and extend far beyond virtual reality.

In October 2014, Manus VR was selected from 10,000 candidates who took part in the Dutch StartupBootcamp HighTechXL, together with eleven other participants. The program helped Manus VR accelerate and build the business in just three months. After the program’s Demo Day in February 2015, the company signed up leading development partners and clients. Furthermore, it was fully funded at record speed, enabling the company to further develop the product.

Since developing the first working prototype in 2014, Manus VR has been a fast-growing company. It has grown around 300% and developed a functioning product in combination with a strong development platform.

About Flexpoint Sensor Systems, Inc.

Flexpoint Sensor Systems, Inc. (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® 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.

Contact Information:

Flexpoint Sensor Systems
Clark Mower, President
801-568-5111

Brokers and Analysts
Chesapeake Group
410-825-3930

SOURCE: Flexpoint Sensor Systems, Inc.


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