OTC Bulletin Board S & P Company Insight for FLEXPOINT SENSOR SYS
Profile
	Business Summary: Flexpoint Sensor Systems, Inc., a development stage company, focuses on designing, engineering, and manufacturing sensor technology and equipment using its Bend Sensor technology in the United States.   Address   106 W Business Park Dr   Draper , UT 84020   Phone: 801-568-5111   Website: http://www.flexpoint.com Transfer Agent   Colonial Stock Transfer Co. Employees:  8 ShareHolders:  465 Founded:  1992 Domicile:  Delaware
Background
	Flexpoint Sensor Systems, Inc., a development stage company, focuses on designing, engineering, and manufacturing sensor technology and equipment using its Bend Sensor technology in the United States. The company's Bend Sensor technology, a flexible potentiometer bend sensor product consisting a coated substrate, such as plastic, which changes electrical conductivity as it is bent, has applications in medical bed, pedestrian impact detection sensors, seat belt reminders, theater seats, emergency vehicles, flow control applications, and humidity sensors. The company was founded in 1992 and is based in Draper, Utah. History:  INCORPORATED in Delaware June 11, 1992, as Nanotech Corp.; name changed to Micropoint, Inc. Feb. 24, 1998, and to Flexpoint Sensor Systems, Inc. June 18, 1999. In April 1998, acquired Sensitron, Inc. The company also acquired Sensitron's wholly owned subsidiary, Flexpoint, Inc. July 3, 2001, the company filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Utah. On Feb. 24, 2004, the company's Plan of Reorganization was confirmed by the U.S. Bankruptcy Court. The Plan became effective Mar. 5, 2004. Under the Plan, the Common shares outstanding prior to the confirmation were reverse split on a 1-for-7 basis; the company cancelled 714,286 Common shares issued to an officer during 2001; convertible debentures of $3,681,280 were forgiven in exchange for the company's agreement not to contest the issuance of 7,142,087 Common shares that were issued to Aspen Capital based upon the exercise of warrants prior to the bankruptcy petition; the company converted $194,620 of claims into 377,682 Common shares; the company exchanged $1,230,218 of notes payable to a stockholder for 2,387,382 Common shares; a lease obligation of $574,255 was exchanged for 1,114,410 Common shares; and the company borrowed $1.4 million under a convertible note, which was converted into 2,800,000 Common shares.   Subsidiaries: Flexpoint International, LLC Flexpoint, Inc. Sensitron, Inc.     Capital Expenditures, thousand. US Dollars   Year   Amount   2008   0   2007   0   2006   2   Research and Development Expenditures, thousand. US Dollars   Year   Amount   2008   500   2007   485   2006   492
Management
	Management Officers Position  John A. Sindt Chairman  Clark M. Mower President & Chief Executive Officer  Thomas N. Strong Chief Financial Officer & Controller  Thomas N. Strong Investor Relations Contact Directors  Ruland J. Gill, Jr.  Clark M. Mower  John A. Sindt
Annual Report
	Annual Report   Income Statement   2008 2007 REVENUES Engineering, Contract and Testing Revenue 175,858 31,495 EXPENSES Cost of Revenues (13,533) (11,093) Administrative and Marketing Expenses (1,275,820) (1,566,991) Research and Development Expenses (500,086) (484,987) Amortization of Patents and Proprietary Technology (137,022) (152,968) Impairment of Long-lived Assets (246,764) (299,798) Interest Expense (13,286) - Interest Income 9,691 21,831 Sublease Rent Income - 3,564 Other Income/expense - 478 Earnings before Taxes (2,000,962) (2,458,469) TAXES AND OTHER EXPENSES Net Income (Loss) (2,000,962) (2,458,469) SUPPLEMENTARY INFO Basic Eps-continuing Operations (0.08) (0.10)   Balance Sheet   2008 2007 CURRENT ASSETS Cash and Cash Equivalents 178,158 1,058,135 Deposit & Prepaid Expenses 30,717 27,224 Trade Accounts Receivables 32,551 6,933 Inventory 10,016 - Total Current Assets 251,442 1,092,292 NON CURRENT ASSETS Property and Equipment 560,161 792,535 Goodwill, Net of Accumulated Amortization 5,356,414 5,356,414 Patents & Proprietary Technology 929,237 1,216,233 Deposits 6,500 6,500 Total Assets 7,103,754 8,463,974 CURRENT LIABILITIES Accounts Payable 34,072 15,588 Accrued Liabilities 159,196 34,237 Convertible Notes Payable to Related Party 250,000 - Deferred Revenue - 50,000 Total Current Liabilities 443,268 99,825 SHAREHOLDERS' EQUITY Common Stock-par Value 24,792 24,792 Additional Paid in Capital 17,851,492 17,791,492 Deficit Accumulated during the Development Stage (13,253,013) (11,252,051) Warrants and Options Outstanding 2,037,214 1,799,915 Total Shareholders Equity 6,660,486 8,364,149 Total Liabilities & Shareholders Equity 7,103,754 8,463,974
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2009   1 30,000   2009   2 10,000   2008   1 10,000   2008   3 100,000   2008   4 60,000   2008   Full Year 180,000   2007   1 10,000   2007   2 10,000   2007   3 10,000   2007   Full Year 30,000   2006   1 Nil   2006   2 50,000   2006   3 40,000   2006   4 10,000   2006   Full Year 100,000   2005   1 20,000   2005   2 Nil   2005   3 Nil   2005   4 (10,000)   2005   Full Year 10,000   2004   1 20,000   2004   2 40,000   2004   3 50,000   2004   4 310,000   2004   Full Year 410,000     Quarterly Net Income, US$ Year Quarter Revenue   2009   1 (440,000)   2009   2 (450,000)   2008   1 (520,000)   2008   2 (460,000)   2008   3 (540,000)   2008   4 (480,000)   2008   Full Year (2,000,000)   2007   1 (610,000)   2007   2 (410,000)   2007   3 (590,000)   2007   4 (850,000)   2007   Full Year (2,460,000)   2006   1 (560,000)   2006   2 (900,000)   2006   3 (490,000)   2006   4 (560,000)   2006   Full Year (2,512,800)   2005   1 (370,000)   2005   2 (400,000)   2005   3 (520,000)   2005   Full Year (1,770,000)   2004   1 (600,000)   2004   2 (520,000)   2004   3 (510,000)   2004   Full Year (4,510,700)     Quarterly EPS, US$ Year Quarter Revenue   2009   1 (.02)   2009   2 (.02)   2008   1 (.02)   2008   2 (.02)   2008   3 (.02)   2008   4 (.02)   2008   Full Year (.08)   2007   1 (.03)   2007   2 (.02)   2007   3 (.02)   2007   4 (.03)   2007   Full Year (.10)   2006   1 (.02)   2006   2 (.04)   2006   3 (.02)   2006   4 (.03)   2006   Full Year (.11)   2005   1 (.02)   2005   2 (.02)   2005   3 (.02)   2005   4 (.02)   2005   Full Year (.08)   2004   1 (.04)   2004   2 (.03)   2004   3 (.03)   2004   4 (.20)   2004   Full Year (.24)
Stock Data
	Capitalization as of 03/31/2009:     Authorized Shares Outstanding Shares Preferred $0.001 par 1,000,000 None Common $0.001 par 100,000,000 24,792,887   LONG TERM DEBT: None.   Common $0.001 par   Stockholders:  03/27/2009, 465. PRINCIPAL STOCKHOLDERS: March 2, 2009, First Equity Holdings Corp. owned or controlled 23.6% of the Common, and John A Sindt 6.5%.   Transfer Agent:  Colonial Stock Transfer Co.   Salt Lake City , UT   OTC Bulletin Board( Primary): FLXT   Exchange Year High Low OTC Bulletin Board 2008 1.1000 0.2200 OTC Bulletin Board 2007 1.5600 0.8000 OTC Bulletin Board 2006 2.3100 0.9500 OTC Bulletin Board 2005 2.6800 1.4000 OTC Bulletin Board 2004 2.4000 0.6300 Over The Counter 2003 0.2500 0.0350   DIVIDENDS: Common $0.001 par: No cash. Common reverse split 1-for-7, Mar. 5, 2004.