ITEC .0011 x .0012. Should move up from here on todays news. Trades extra thin.
View Additional ProfilesYUCAIPA, Calif., Dec. 17, 2008 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:ITEC), manufacturer of Oxyview and OxyAlert respiratory products, announced today that it has developed and introduced the new Oxyview model 203A for the aviation markets. This new oxygen low-flow meter model will provide accurate and sensitive readings from 0-3 liters/minute. The company currently has global distribution of the Oxyview medical product that provides a flow rate reading from 0-6 liters/minute.
After serious negotiations with major aircraft oxygen suppliers, it was determined that they would require an oxygen flow meter that would provide readings from 0-3 liters/minute. Oxygen is required by private aircraft above 15,000 feet with a variable flow rate requirement for higher altitudes. "Ingen engineers were able to design the world's first technology to machine and tool a device with such demanding tolerances in order to have the capability to provide a stable and accurate reading at such a low gas flow," stated Chief Engineer, Richard Campbell.
The Oxyview(r) will be used as a part of the 2-6 place oxygen systems for private and commercial aircraft. The Oxyview model 206A reads from 0-6 liters/minute, and will be used for commercial aircraft on-board backup remote oxygen systems. The unique quality of Oxyview is that it is not gravity-dependent like other conventional flow meters, and can operate accurately under severe vibration, altitude, humidity and temperature variances while in flight.
According to the 2007 AOPA Statistics, there are 624,007 certified pilots in the United States. With a total of 221,943 active aircraft. Each pilot and aircraft are responsible to carry a portable emergency oxygen system. The commercial aircraft inventory is much higher. Expected sales of the aviation Oxyview model are $2-$5 million annually.
"We have already started our first Oxyview deliveries to Delta Technology, and expect to increase deliveries to several other major aircraft suppliers worldwide," stated Scott Sand, CEO and Chairman.
Ingen is an emerging medical device manufacturer that introduced Oxyview into the respiratory COPD market in late 2007 commencing registration and classification approval with the Food & Drug Administration. The company is expanding distribution and OEM partners in North America, Europe, Middle East and Asia. The company owns several issued and pending domestic and foreign patents and trademarks, and anticipates the introduction of its next respiratory product, OxyAlert, in 2009.
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.