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Flexpoint Sensor Systems, Inc.
Symbol:  FLXT


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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
 
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Flexpoint Sensor Systems, Inc.
Symbol:  FLXT


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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
 
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Flexpoint Sensor Systems, Inc.
Symbol:  FLXT


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Management
OfficersPosition
 John A. SindtChairman
 Clark M. MowerPresident & Chief Executive Officer
 Thomas N. StrongChief Financial Officer & Controller
 Thomas N. StrongInvestor Relations Contact

Directors
 Ruland J. Gill, Jr.
 Clark M. Mower
 John A. Sindt
 
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Flexpoint Sensor Systems, Inc.
Symbol:  FLXT


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Capitalization as of 03/31/2009:
 
 Authorized SharesOutstanding Shares
Preferred $0.001 par1,000,000None
Common $0.001 par100,000,00024,792,887
 
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
 
ExchangeYearHighLow
OTC Bulletin Board20081.10000.2200
OTC Bulletin Board20071.56000.8000
OTC Bulletin Board20062.31000.9500
OTC Bulletin Board20052.68001.4000
OTC Bulletin Board20042.40000.6300
Over The Counter20030.25000.0350
 
DIVIDENDS: Common $0.001 par: No cash. Common reverse split 1-for-7, Mar. 5, 2004.
 
 
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Flexpoint Sensor Systems, Inc.
Symbol:  FLXT


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Annual Report
 
Income Statement
  20082007
REVENUES
Engineering, Contract and Testing Revenue175,85831,495
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 Income9,69121,831
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
  20082007
CURRENT ASSETS
Cash and Cash Equivalents178,1581,058,135
Deposit & Prepaid Expenses30,71727,224
Trade Accounts Receivables32,5516,933
Inventory10,016-
Total Current Assets251,4421,092,292
NON CURRENT ASSETS
Property and Equipment560,161792,535
Goodwill, Net of Accumulated Amortization5,356,4145,356,414
Patents & Proprietary Technology929,2371,216,233
Deposits6,5006,500
Total Assets7,103,7548,463,974
CURRENT LIABILITIES
Accounts Payable34,07215,588
Accrued Liabilities159,19634,237
Convertible Notes Payable to Related Party250,000-
Deferred Revenue-50,000
Total Current Liabilities443,26899,825
SHAREHOLDERS' EQUITY
Common Stock-par Value24,79224,792
Additional Paid in Capital17,851,49217,791,492
Deficit Accumulated during the Development Stage(13,253,013)(11,252,051)
Warrants and Options Outstanding2,037,2141,799,915
Total Shareholders Equity6,660,4868,364,149
Total Liabilities & Shareholders Equity7,103,7548,463,974
 
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Flexpoint Sensor Systems, Inc.
Symbol:  FLXT


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Interim Report   
 
Data Not Available
 
 
 
 
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Flexpoint Sensor Systems, Inc.
Symbol:  FLXT


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Pro Forma Report   
 
Data Not Available
 
 
 
 
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Flexpoint Sensor Systems, Inc.
Symbol:  FLXT


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   130,000
  2009   210,000
  2008   110,000
  2008   3100,000
  2008   460,000
  2008   Full Year 180,000
  2007   110,000
  2007   210,000
  2007   310,000
  2007   Full Year 30,000
  2006   1Nil
  2006   250,000
  2006   340,000
  2006   410,000
  2006   Full Year 100,000
  2005   120,000
  2005   2Nil
  2005   3Nil
  2005   4(10,000)
  2005   Full Year 10,000
  2004   120,000
  2004   240,000
  2004   350,000
  2004   4310,000
  2004   Full Year 410,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  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$
YearQuarterRevenue
  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)
 
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