RIVERSIDE, CA--(Marketwired - April 02, 2013) - Ingen Technologies, Inc.'s (PINKSHEETS: IGNT) is pleased to announce that on April 1, 2013, Ingen and ATMC Inc. have executed the "Letter of Intent" to merge the two companies. Ingen has moved forward to acquire ATMC Inc.
The Southern California-based ATMC is an Inter-Exchange Carrier licensed by the FCC for domestic and International Telecommunications services, providing voice services serving Domestic and International Public and Private Telephone Companies. ATMC has been in business since 1989 and continues to provide services in the ever-changing digital communication industry. To learn more about ATMC please visit www.useatmc.com.
"I have a great deal of respect for Bob Ellis, who has been the acting President of ATMC for more than 20 years. He has agreed to accept $1.5 Million dollars and a benefit package for the purchase of ATMC, and he will continue to act as the President of the new wholly owned subsidiary. This merger will certainly broaden Ingen's horizons. We have started the process of consolidating the accounting in order to finalize the new merger. ATMC's new business plan calls for a $25M investment to expand routes and develop new contracts with various telephone companies," said Gary B. Tilden, Chairman of Ingen.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.