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News for 'IGTN' - (Ingen Technologies Prepares to Launch OxyAlert(TM) - OxyAlert(TM) Will Impact $45M in Sales First Part of Next Year -)
CALIMESA, Calif., June 21, 2005 /PRNewswire-FirstCall via COMTEX/ -- Ingen Technologies (OTC: IGTN), a medical device manufacturer for physicians and consumer markets, announced today that OxyAlert(TM) would be ready by January 1, 2006.
There are now 8M people prescribed oxygen each year. The OxyAlert(TM) will cost $300 per unit, and can function on any remote oxygen delivery system. The Company is prepared to sell 150,000 OxyAlert(TM) units the first part of next year. This represents revenues of $45M. With the rapid increase of our elderly population, sales are expected to experience a linear increase.
The Company is contracted with Lifetime Controls, Inc., in Arcadia, California, to complete the OxyAlert(TM) development. "Our company has seriously evaluated the OxyAlert(TM) technology and its functional abilities. We are now confident that the device will soon be completed and introduced to the marketplace," said David Kimmich, President of Lifetime Controls, Inc.
OxyAlert(TM) is the second generation of the Company's BAFI(TM) product and falls under both of the issued US patents held by the Company. "This has been a very positive experience for Ingen. We have had to invent new technology for the OxyAlert(TM) so that we could provide technologically advanced features for physicians, hospitals and patients. Lifetime Controls is a very experienced group of engineers with great knowledge in RF technology," said Scott Sand, CEO & Chairman.
The Company continues to increase earnings and launch new medical products in order to build investor confidence and shareholder value. The Company is now engaged in the SEC filings and a move to the OTCBB. "I can only expect a phenomenal increase in share price the day that IGTN is on the OTCBB," said Scott Sand, CEO & Chairman.
About Ingen Technologies
Ingen Technologies (OTC: IGTN), in business since 1999, is a medical device manufacturer and service provider for medical and consumer markets both domestic and abroad. Currently increasing revenues are generated from the Company's Secure Balance(TM) program; a medical product line for physicians and hospitals that provide patient services for Balance & Fall Prevention programs. The OxyAlert(TM) is another product line that has two issued US Patents and is a proprietary technology. This product is the second generation development of the Company's initial BAFI(TM) product; a medical safety device that provides wireless and remote monitoring of oxygen delivery systems for patients and small aircraft. Using the same patented and proprietary technology, the Company has the GasAlert(TM) product; a device that interfaces between any gas line and accessory, such as a water heater, dryer, stove or heater, to detect leaks. This is a mass consumer item expected to go to market in 2005.
"Our team of professionals developed medical products for the growing elderly population. These products are proprietary, as well as superior to any of our competition and they allow effective medical product availability to seniors; 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.
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News for 'IGTN' - (Ingen Technologies Announces the Acquisition of Land and Patents - The Company Increases Its Assets by $2M -)
CALIMESA, Calif., June 29, 2005 /PRNewswire-FirstCall via COMTEX/ -- Ingen Technologies (OTC: IGTN), a medical device manufacturer of OxyAlert(TM) and Secure Balance(TM) has announced the acquisition of 2 acres of land in Pitsgrove, New Jersey and two medical technology patents.
The Company will acquire 2 acres of land in Pitsgrove-New Jersey in value of about $1M. The property will be the new site of the Pure Produce(TM) facility. "This 12,000 sq-ft facility is scheduled to grow aeroponic produce. This organic produce will yield earnings in excess of $5,000,000.00 annually and move the company closer to the $30B neutricutical and pharmaceutical industry. After structuring this transaction with Mr. Nick Kontonicolas, the CEO of C-Trade USA, we can now secure greater value to our shareholders and investors." Said Scott Sand, CEO & Chairman.
Further, the Company has purchased patents related to OxyAlert(TM) and BAFI(TM) in order to add more value to shareholder interest prior to being listed on the OTCBB. The Company will now own the US Issued Patents No. 6,326,896 B1 (December 4, 2001) and No. 6,137,417 (October 24, 2000). "The Company has invested more than $4M in the development of BAFI(TM) and OxyAlert(TM), and holding the patents in the name of Francis McDermott allowed the US Patents Office to issue both patents more efficiently and faster. Mr. Pete Wilke, Attorney, has structured the acquisition of both Patents to be owned by the Company." Said Scott Sand, CEO & Chairman.
The acquisition of assets will be a big step in assisting the Company towards their quest to being listed on the OTCBB and can only help increase shareholder value and strengthen investor interest. Now with the audits complete, Spector & Wong, the auditors in Pasadena-CA, are working with Attorney Richard Weed of Newport Beach-CA to complete the necessary SEC filings for IGTN and moving the Company to the OTCBB.
"This transaction will add a substantial increase to our earnings way over our previous forecast. This should reassure our shareholders that Ingen is a strong investment to be a part of," said Thomas J. Neavitt, CFO of Ingen Technologies, Inc.
About Ingen Technologies
Ingen Technologies (OTC: IGTN), in business since 1999, is a medical device manufacturer and service provider for medical and consumer markets both domestic and abroad. Increasing revenues are generated from the Company's Secure Balance(TM) program; a medical product line for physicians and hospitals that provide patient services for Balance & Fall Prevention programs. The OxyALERT(TM) is another product line that has two issued US Patents and is a proprietary technology. This product is the second generation development of the Company's initial BAFI(TM) product; a medical safety device that provides wireless and remote monitoring of oxygen delivery systems for patients and small aircraft. Using the same patented and proprietary technology, the Company has the GasAlert(TM) product; a device that interfaces between any gas line and accessory, such as a water heater, dryer, stove or heater, to detect leaks. This is a mass consumer item expected to go to market in 2005.
"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.
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