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Flexpoint Announces Universal Settlement Involving the Medical Bed and Related Technologies
Date:4/24/2013

DRAPER, Utah, April 24, 2013 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (OTCQB: FLXT) today announced that it has reached a favorable universal settlement in the legal case involving a series of products featuring  technologies that use Bend Sensor® technology.

Flexpoint led the complicated negotiations that culminated in the agreement which involved multiple parties and multiple issues.  The universal settlement reinforces Flexpoint's rights and gives the company new revenue from all sales of related products moving forward. 

Through the course of negotiations, it became clear that the medical bed and related applications have numerous interested potential customers who could move aggressively to bring these products to market. As part of the settlement, Flexpoint has reached a marketing agreement with Bend Tech, LLC, and Jules Anthony "Tony" DeGreef.  Mr. DeGreef has been involved with these products for years, and has previously successfully marketed the products and has already begun talks with new interested clients.     

The resolution of the issues involving the products utilizing Bend Sensor® technology represents a breakthrough for Flexpoint, as the products involved represent major revenue potential for the company moving forward.

"We are gratified to reach such a favorable settlement in this case," said Flexpoint President Clark Mower . "The products involved represent years of innovative development, and we are excited to see them progress and be positioned to realize their significant market potential. The talks that led up to this settlement have us feeling confident that we will see exciting movement on these products in the coming year. These products, which were essentially put on hold for several years pending the outcome of litigatio
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SOURCE Flexpoint Sensor Systems, Inc.
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