Flexpoint Sensor Systems Inc. (OTCMKTS:FLXT) announced on August 25, 2022, that it is actively working with a new manufacturer on an aggressive program for an Occupant Classification System, (OCS), for their automotive seats.
Trading Data
On Thursday, FLXT stock ended flat at $0.0250 with more than 157.76K shares, compared to its average volume of 188.73K shares. The stock moved within a range of $0.0226 – 0.0269 after opening trade at $0.0226.
Key Quote
Clark Mower, President of Flexpoint stated, “We recently announced ‘we are excited to have our technology implemented into the traditional automotive industry, but even more excited to have it implemented into the new and growing markets in the EV and autonomous vehicle space.’ I am now pleased to announce that we are currently actively working with a new automobile manufacturer to get working prototypes in a vehicle for testing by year end. This is a very fast and aggressive development project that Flexpoint and DeAmertek are working hard to complete in this manufacturer’s timeframe.”
Flexpoint Receives Significant Interest in OCS System from the Automotive Sector
On August 11, 2022, the company had announced about receiving multiple requests for an OCS for automotive seats. Since requirements have changed on the federal level, and with the advent and growing interest in electronic vehicles and autonomous vehicles, there is considerable market interest in its OCS, for seats in automobiles.
Clark Mower, President of Flexpoint, has said that they are thrilled that this technology is being implemented into the traditional automotive industry, along with new and growing markets in the electric and autonomous vehicle space. As of now, they are working with a new automobile manufacturer to get working prototypes in a vehicle for testing by year end.
This is indeed a rapid and aggressive development project that Flexpoint and DeAmertek are working hard to complete in this manufacturer’s timeframe. De Amertek is a leading designer and manufacturer of microelectronics and one of the most specialized sources of custom-made electronic modules. Headquartered in Chicago, Illinois, its world-class manufacturing facility and supply chain network exceeds customer expectations in quality, delivery, service and time to market. De Amertek is making way for futuristic developments and setting trends in the technology world.
Technical Data
FLXT stock is trading below the 20-Day and 200-Day Moving averages of $0.0267 and $0.0276 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0452. The company has a total market capitalization of $3.15 million. The stock is down 17% over the past month.
