Ingen Technologies, Inc.'s Chairman Issues Statement Regarding Recent Corporate Progress
Published: Aug 29, 2012
RIVERSIDE, CA--(Marketwire - August 28, 2012) - Ingen Technologies, Inc. (PINKSHEETS: IGNT), an emerging medical device manufacturer with proprietary patented medical products for the growing $4 Billion respiratory markets, announced today that the company has followed through with its promise to secure a national distributor for the new Oxyview product line. The first purchase order of 7,760 Oxyview units and Smart Nasal Cannulas has been delivered while Ingen prepares for more deliveries. Ingen offers the only respiratory product of this kind, with a market potential of $50 Million in annual sales. With the sales support of the largest home healthcare distributor in the world, Ingen gains to benefit with sales through e-commerce and B2B services that are provided through this national distribution program. The product is expected to reach millions of patients suffering with chronic obstructive pulmonary disease who are prescribed home oxygen therapy. The Oxyview products improve home oxygen therapy.
"I am pleased to report that Ingen had a strong first quarter ending on August 31, 2012," stated the Chairman of Ingen, Gary B. Tilden. "We continued to outperform our original projections and met our promise to locate and secure a national distributor; in addition to finding new medical technologies through various acquisition partners, our first pending acquisition being SomaLife LLC. We have also strengthened our Board of Directors with new, experienced individuals that will contribute support and input additional, proactive goals to add stimulus to the growth of the company. At the same time, we continue to stay on track with our plan of reorganization as our responsibility to our shareholders, and for the overall good of the company. Most importantly, we are well positioned to grow as the global economy recovers. These results were made possible by decisions and actions that we undertook six months ago, based on how we believed the world was shifting and to adjust for that change in a manner that would add to our bottom line. But in addition to that, this is a reflection of the mindset, ambitions and values that have guided Ingen during this quarter. As such, our performance in 2012 marks a fitting conclusion to our corporation, and a promising start to our second quarter. Long-term thinking and management that Ingen has practiced this year have positioned this company advantageously for the next five years and beyond."
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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.