Flexpoint Sensor Systems, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 16, 2020 at 09:19 pm
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Flexpoint Sensor Systems, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 24,938 compared to USD 54,209 a year ago. Operating loss was USD 200,487 compared to USD 167,948 a year ago. Net loss was USD 240,845 compared to USD 341,613 a year ago. For the nine months, sales was USD 106,236 compared to USD 691,250 a year ago. Operating loss was USD 556,569 compared to operating Income of USD 27,843 a year ago. Net loss was USD 674,451 compared to USD 500,950 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
Flexpoint Sensor Systems, Inc. is principally engaged in designing, engineering and manufacturing bend sensor technology and products using its patented Bend Sensor technology. The Bend Sensor is a flexible potentiometer; the bend sensor consists of a coated substrate, such as plastic, that changes electrical conductivity as it is bent in a consistent manner. The electronic systems connect to this sensor and measure in detail the amount of bending or movement that occurs in a predictable manner. It has developed various applications and devices using the Bend Sensor technology and is marketing these items: glove systems, automotive products, flow control applications, monitoring systems, swell sensor and other applications. These glove systems, combined with edge software applications, also adapt to a range of other applications, including health rehabilitation, unmanned systems control, smartphone interaction and professional training across multiple industries.
FLEXPOINT SENSOR SYSTEMS, INC. 
