UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                          FORM 10-QSB/A
                         Amendment No. 1

[X]   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934

          For quarterly period ended September 30, 2004

[ ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934


               Commission file number: No. 0-24368

                  FLEXPOINT SENSOR SYSTEMS, INC.
          (Name of small business issuer in its charter)

      Delaware                                          87-0620425
(State of incorporation)                 (I.R.S. Employer Identification No.)

106 West Business Park Drive, Draper, Utah               84020
(Address of principal executive offices)                 (Zip code)

Issuer's telephone number:  801-568-5111

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes  [ ]   No  [X]

Check if the issuer has filed all documents and reports required to be filed
by Section 12, 13, 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court.  Yes [X]  No [ ]

As of October 20, 2004, Flexpoint Sensor Systems, Inc. had a total of
18,798,718 shares of common stock issued and outstanding.

Transitional small business disclosure format:  Yes [ ]  No [X]


  THIS QUARTERLY REPORT HAS BEEN AMENDED TO INCLUDE EXHIBIT 10.2


<PAGE>



                   PART II - OTHER INFORMATION

ITEM 6. EXHIBITS

Part I  Exhibits

31.1    Chief Executive Officer Certification
31.2    Principal Financial Officer Certification
32.1    Section 1350 Certification (Filed November 15, 2004)

Part II Exhibits

2.1     Order Confirming Plan, dated February 24, 2004 (Incorporated by
        reference to exhibit 2.1 for Form 8-K filed March 5, 2004)

2.2     Debtor's Plan of Reorganization, dated January 14, 2004 (Incorporated
        by reference to exhibit 2.2 for Form 8-K filed March 5, 2004)
2.3     Asset Purchase Agreement between Flexpoint Sensor and Flexpoint
        Holdings, LLC, dated March 31, 2004 (Incorporated by reference to
        exhibit 2.3 of Form 10-QSB, filed May 3, 2004)
3.1     Certificate of Incorporation of Nanotech Corporation (Incorporated by
        reference to exhibit 3.1 of Form 10-SB registration statement, filed
        June 17,1994.)
3.2     Certificate of Amendment to Certificate of Incorporation of Nanotech
        Corporation (Incorporated by reference to exhibit 3.1 of Form 8-K,
        filed April 9, 1998)
3.3     Certificate of Amendment to Certificate of Incorporation of Micropoint
        Inc. (Incorporated by reference to exhibit 3.3 of Form 10-QSB, filed
        May 3, 2004)
3.4     Restated bylaws of Flexpoint Sensor (Incorporated by reference to
        exhibit 3.4 of Form 10-QSB, filed May 3, 2004)
10.1    Credit Line Agreement between Flexpoint Sensor and Broad Investment
        Partners, LLC, dated January 14, 2004 (Incorporated by reference to
        exhibit 10.1 for Form 8-K filed March 5, 2004)
10.2    Lease Agreement between Flexpoint Sensor and F.G.B.P., L.L.C., dated
        July 12, 2004
10.3    Consulting Agreement between Flexpoint Sensor and Summit Resource
        Group, dated March 3, 2004 (Incorporated by reference to exhibit 10.3
        of Form 10-QSB, filed May 3, 2004)
21      Subsidiaries of Flexpoint Sensor Systems, Inc. (Incorporated by
        reference to exhibit 21 of Form 10-KSB, filed February 18, 2004)


                            SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, who is duly
authorized.

                                  FLEXPOINT SENSOR SYSTEMS, INC.


                                  /s/ John A. Sindt
Date: November 19, 2004       By: _______________________________________
                                  John A. Sindt
                                  President, Chairman of the Board,
                                  Chief Executive Officer and Principal
                                  Financial Officer


                                   /s/ Donald E. Shelley
Date: November 19, 2004       By: _______________________________________
                                  Donald E. Shelley
                                  Secretary and Director