Ingen Technologies, Inc. Ramps Up Its Manufacturing for Its Initial Approximate $3 Million in Purchase Orders
Published: Jan 17, 2013
RIVERSIDE, CA--(Marketwire - January 17, 2013) - Ingen Technologies, Inc. (PINKSHEETS: IGNT), an emerging medical device manufacturer with patented proprietary medical technology for the growing $55 Billion US home healthcare industry, is pleased to announce that the company is making preparations for manufacturing large quantities of its products while its Quebec-Canada export distributor, MMT Inc., has verbal commitments of approximately $3 Million in product purchases for this month.
The company received notification from William Mourad, CEO of MMT, Inc., specifying that its export partners have agreed to purchase $3 Million of Ingen products, inclusive of the Smart Nasal Cannula and Oxyview Flow Meter. The notification further stated that the purchase orders will be sent later this month. Ingen is preparing to manufacture another 200,000 units of the Smart Nasal Cannula and the Oxyview flow meter with an approximate value of $2.5 Million.
The company's current warehouse inventory is adequate for immediate delivery of 140,900 units with an approximate value of $1.8 Million. These units include 53,500 Oxyview Flow Meters, and 87,400 Smart Nasal Cannulas. Ingen's medical technology applies to people suffering from COPD (Chronic Obstructive Pulmonary Disease). According to the most recent reports from the World Health Organization dated November 2012, there were 64 million people worldwide diagnosed with COPD in 2004. The company projects a potential world market share of 10% with annual sales of approximately $50 Million.
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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.
Ingen Technologies, Inc.