Ingen Technologies, Inc. Revenues Increase More Than 300%
CALIMESA, Calif., Jan. 13 /PRNewswire-FirstCall/ -- Ingen Technologies, Inc. , a medical device manufacturer of OxyAlert(TM), OxyView(TM), and Secure Balance(TM), announces substantial increases in revenues and gross profits.
The revenues for the six months ended November 30, 2005 were $767,084, as compared to the previous year of $223,293. Gross Profits for the six months ended November 30, 2005 were $573,025 as compared to the previous year of $128,046.
The company has invested more than $6,000,000 in the research and development of the product lines, including OxyView(TM) and OxyAlert(TM). During the six months ended November 30, 2005, the company incurred substantial costs to complete OxyView(TM) and continue completion of the OxyAlert(TM) products.
Scott Sand, CEO & Chairman stated: "The revenues for Secure Balance(TM) sales have increased more than 300%, and the Gross Profits have increased even greater. With a focused emphasis on completing all of the SEC Filings, we anticipate a very smooth transition to the OTCBB."
"The reason for the change in retail pricing of the OxyView(TM) was due to the unexpected change in manufacturing costs for OxyView(TM). The current retail pricing of $14.95 is a result of the decrease in manufacturing costs. The company has created a 4+4 Class-A steal mold with special features that have substantially decreased manufacturing costs as compared to the costs published last July-2005 when we released a retail price of $75. This change in retail pricing allows for a more affordable product for hospitals, surgical centers and patients, as well as a higher margin and profit for the company," said Thomas Neavitt, Chief Financial Officer.
About Ingen Technologies, Inc.
Ingen Technologies, Inc. is a public company trading under NASDAQ OTC: IGTG, which has been in business since 1999. IGTG is a medical device manufacturer and a growth-oriented company that owns US patent(s), trademarks, and proprietary medical products.
The Company's flagship product is OxyAlert(TM), a second-generation design of the Company's BAFI(TM) product line. Both of these products have been issued two US Patents: Patent No. 6,137,417 issued on October 24, 2000 and Patent No. 6,326,896 issued on December 4, 2001. Both of these products are low-oxygen safety warning devices used on remote oxygen cylinders for patients, commercial aircraft, military transport, and fire and safety equipment. OxyAlert(TM) technology encompasses the use of digital sensing and RF frequency transfer so that care givers can access a hand-held remote to monitor the actual oxygen level of any oxygen cylinder at a reasonable distance.
The newest product, OxyView(TM), has a patent pending, and is a pneumatic gauge that provides visual safety warning of oxygen flow to hospitalized patients. This product enhances the safety, assurance and accuracy of hospitalized patients being administered oxygen from any source. OxyView(TM) is a lightweight pneumatic gauge that is attached to the oxygen tubing just below the neck. It informs the nursing staff of oxygen flow rate near the patient. It could quickly inform the hospital staff of any leak or inaccuracy between the delivery source and the patient.
The Secure Balance(TM) product is a private-label product that includes a vestibular function testing system and balance therapy system. The vestibular function testing system is manufactured by Interacoustics LTD. in Denmark and is referred to as the VNG. The balance therapy system is manufactured by SportKAT(R), Inc. in San Diego, California. The Secure Balance(TM) program provides equipment, education and training about balance and fall prevention to physicians and clinicians worldwide.
The Pure Produce(TM) product is a continuing research & development program currently under design. This program uses hydroponics technology to grow various plants without the use of soil, fertilizer and water consumption. The Company anticipates entering the nutriceutical and pharmaceutical markets over the next two years.
"Our team of professionals has developed our medical products for the ever-increasing elderly population. Our products are superior to any of our competition and they allow for effective medical product availability to seniors, and at the same time the increasing senior population allows for a steady growth in sales and profits," said Scott Sand, CEO & Chairman of Ingen Technologies.
For more information, visit www.ingen-tech.com Investor Relations Contact: Scott R. Sand, C.E.O & Chairman Ingen Technologies, Inc. - Administrative Office 35193 Avenue "A", Suite-C Yucaipa, California 92399 Phone: (800) 259-9622 or (909) 790-7180 Fax: (800) 777-1186 or (909) 795-6340 Email: Info@ingen-tech.com A Member of the Better Business Bureau A Member of the Chamber of Commerce A Licensed Business in the City of Yucaipa
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements that are made pursuant to "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. 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 will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.Ingen Technologies, Inc.
CONTACT: Scott R. Sand, C.E.O & Chairman of Ingen Technologies, Inc.,+1-800-259-9622, or +1-909-790-7180, or fax, +1-800-777-1186, or+1-909-795-6340, Info@ingen-tech.com
Web site: http://www.ingen-tech.com//