RIVERSIDE, CA--(Marketwired - April 01, 2013) - Ingen Technologies, Inc. (PINKSHEETS: IGNT) is pleased to announce that is currently negotiating terms to merge with ATMC, Inc., a seasoned and licensed telecommunications company in the multi-billion dollar telecommunications market.
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 began business in 1989, and continues to provide services in the changing digital communication industry. To learn more about ATMC please visit www.useatmc.com.
"Bob Ellis, long-time President of ATMC, has agreed to merge his company with Ingen in an effort to diversify and strengthen the public company's position, as we continue to struggle within the economically challenged medical industry. Late last year we began acquisition negotiations with SomaLife products, and those negotiations have been on hold while SomaLife resolves certain liability issues. Although we continue to make sales and expand our respiratory medical products and have confirmation from MMT regarding the pending purchase orders with our medical subsidiary, we now must expand the holding company's position in various market sectors. The merger with ATMC is a great opportunity, and a Letter of Intent should be signed later this week with ATMC. We will make more announcements as we finalize this merger," stated 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.