CALIMESA, Calif., March 13 /PRNewswire-FirstCall/ -- Ingen Technologies, Inc. , a medical device manufacturer of OxyAlert(TM), OxyView(TM), and Secure Balance(TM), announced today the Chartered Financial Analyst Report developed by Empire Research Associates.
RECOMMENDATION: OTC: IGTG "AGGRESSIVE BUY": "We recommend the common shares of Ingen Technologies, Inc. ("Ingen" or the "Company") as an Aggressive Buy and therefore suitable for purchase by risk-oriented investors," said William Walling, Chartered Financial Analyst and former four-time member of the Institutional Investor Magazine All-America Research Team.
Further, CFA William Walling stated: "Ingen is a medical equipment company that currently sells a single product, its Secure Balance(TM) device, which diagnoses and treats balance disorders, which are a major source of falls in the elderly. Its sales have recently taken off. Ingen also claims to be close to offering two oxygen safety products -- OxyView(TM) and OxyAlert(TM) -- aimed primarily for hospitals, surgical centers, medical suppliers, emergency response and commercial applications for patients/people using oxygen. Both products stem from Ingen's BAFI technology, under which it holds two patents. Hence, we believe that Ingen's burgeoning product line will: (1) serve a large and growing population of the elderly, domestically and internationally, and (2) provide innovative and competitively attractive features, which should permit rapid market penetration. The outcome should be initially, rapid growth in revenues, followed by rising earnings, which heretofore have been understandably absent during Ingen's infancy. We can't yet quantify the expected increases in revenues and earnings, but are comfortable declaring we expect them to appear and to become substantial. In fact, our forecast of sustained revenue growth for Ingen should leverage its rate of profit growth, given the Company's low overhead format (largely due to major outsourcing)."
The key investment risks which stock purchasers must take into account are the likelihood of: (1) the sale of more common shares, or their convertible equivalent, to finance corporate growth, and (2) continuing share price volatility (which we expect to moderate).
Another key positive in our Ingen investment thesis is that we see little technological or commercial risk in Ingen's products (including the two forthcoming "Oxys"). This is highly unusual for a small corporation. We take this as a tribute to management's understanding of its niche medical equipment markets and what product features offer attractive benefits to its customers. Further, the matter of marketing execution is in the talented hands of CEO Scott Sand, who has a strong track record in this regard. That the targeted senior population is already large -- and growing -- is well known. President Bush noted in his State of the Union Speech (1/31/06) that: "This year, the first of about 78 million baby boomers turn 60..."
"Basically, we expect Ingen's product quality and marketing prowess to boost revenues, earnings, and its share price, despite the prospect of more shares being issued to finance growth. More specifically, we expect Ingen to raise sales to a $10 million annual run rate in 12 months, which would be a 12-fold increase over the $0.8 million of revenues for FY5/31/05. As a result, this should move Ingen into the black in FY5/31/07 -- for the first time. In turn, we would expect a favorable response from investors, moving IGTG's price up to an estimated $0.75 per share (even after an assumed 250% increase in shares). Thus, we think IGTG can approximately double in a year, providing it with a very attractive risk/return relationship. Continuing prospects of rapid growth should cause further appreciation thereafter, in our opinion," stated William Walling, Chartered Financial Analyst.
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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. Ingen Technologies, Inc. ("Ingen" or the "Company"), a Georgia Corporation, was formed as a result of a reverse merger in March 2004 whereby Ingen became a publicly-owned company and commenced trading in the Over-The-Counter market on the Pink Sheets. Ingen (GA) is a holding company which owns or has intellectual property rights to certain proprietary devices which primarily provide diagnostic and safety features to health practitioners and patients. Operations are conducted through a 100%-owned subsidiary, Ingen Technologies, Inc. of Nevada, which has been in business since 1999 when Chairman/CEO Scott R. Sand founded it. The principal executive office is in Yucaipa, CA, northeast of Los Angeles.
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 for patients in the hospital, surgical room, outpatient therapy, nursing homes and emergency response facilities. This product enhances the safety, assurance and accuracy of 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 the oxygen flow rate near the patient. It could quickly inform the physician or technician 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: Investor Relations, Scott R. Sand, C.E.O. & Chairman,+1-800-259-9622, or +1-909-790-7180, or fax, +1-800-777-1186, or+1-909-795-6340, Info@ingen-tech.com
