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News for 'IGTN' - (Ingen Technologies Enters Potential $400 Million Neurology Market)
CALIMESA, Calif., May 12, 2005 /PRNewswire-FirstCall via COMTEX/ -- Ingen Technologies (OTC: IGTN), a medical device manufacturer and service provider for medical and consumer markets, announced today that the Secure Balance(TM) products created sales of over $400,000 at the neurology annual meeting in Miami, indicating how successfully members of the American Academy of Neurology accepted Secure Balance(TM).
Ingen Technologies was one of the official Exhibitors at the annual meeting for the American Academy of Neurology in Miami, Florida from April 11th through April 14th, 2005. The annual meeting brings together more than 8,000 neurology professionals at the world's largest gathering of neurologists to share groundbreaking research and to participate in a comprehensive curriculum-based education program.
"The Company sales team sold several systems on the floor at the Miami convention center, as well as secured another 5 orders for capital equipment leasing. We also gave system demonstrations to more than 200 neurologists at the meeting. The majority of neurologists indicated a strong interest in providing Balance & Fall Prevention to their patients. The Secure Balance(TM) product line offers the neurologist a program to help their dizzy patients with balance problems, along with the clinical advantage to measure more accurate CNS oculomotor responses using our full-field technology while performing a complete vestibular function test. The response to our presentation was overwhelming. With the positive feedback received we expect major sales to come. Our sales team is now working hard to close more orders," said Scott Sand, CEO & Chairman. The company expects to place 200 Secure Balance(TM) systems over the next year, generating income of more than $10M.
The Company's brand, Secure Balance(TM), is now recognized by the American Academy of Neurology. The Secure Balance(TM) products will enhance the medical services provided by neurologists. "There are 11 million Americans who will complain of dizziness and balance disorders each year. The senior population is substantially increasing and the majority will be referred to a neurologist," said Joseph Warner, MD, Harvard Graduate and Leading Author of Neurological publications.
"The Secure Balance(TM) program was developed by neurologists, for neurologists, and for the treatment of vestibular diseases, and is endorsed by the American Academy of Balance Medicine," said Jacob Green, M.D., a Neurologist and founder of the Southeastern Neuroscience Institute.
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 an issued US Patent 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 the Secure Balance(TM) medical products for the growing elderly population. People experiencing vertigo, dizziness and other balance problems can be examined, diagnosed and treated with use of the Secure Balance(TM) products. These products are superior to any of our competition and they allow 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.
Investor Relations Contact: Scott R. Sand, C.E.O. & Chairman
Ingen Technologies, Inc.
285 E. County Line Road
Calimesa, CA 92320
800-259-9622
951-675-3266
800-777-1186 FAX
scottsand@ingen-tech.com
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 are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
SOURCE Ingen Technologies
CONTACT: Scott R. Sand, C.E.O. & Chairman of Ingen Technologies, Inc., +1-800-259-9622, o
+1-951-675-3266, or fax, +1-800-777-1186, scottsand@ingen-tech.com
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News expected this week. Should produce a nice pop. Same old story, it's cheap here and good for at least a double in my opinion...triple would be sweet
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