RIVERSIDE, Calif., May 8, 2013 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (OTC Pink:IGNT) announces the $25 Million expansion plan for the newly acquired subsidiary, ATMC Inc., with projected annual revenues of $26.7 Million and approximate Net Profit of $13.9 Million. The expansion plan has been initiated and will commence on July 1, 2013.
"This is a great opportunity for Ingen. This expansion plan has been researched and developed by the ATMC management during the past 12 months. We have very strong relations and support with major carriers that extend over the past 20 years, and will expand our existing telecommunication routes for our Client-base of mobile carriers who provide services for prepaid mobile units. ATMC is responsible to assist the calling party in reaching family and friends in or out of the country they reside in. Our new operations center will answer all calls as if ATMC were the originating provider of the phone service. This is referred to as private branding," stated Bob Ellis, President of ATMC, a wholly owned subsidiary of Ingen Technologies.
ATMC plans to open its core operations in a 31,000 sq. ft. facility located in the Provo, Utah area. This location offers a variety of cost benefits, which compared to other locations, is priced at very reasonable rates. In addition, the facility includes a fiber ring which will serve our needs for bandwidth. This geographic location includes availability of an extensive labor pool with various tax benefits.
According to the expansion plan, a 15% allowance is allocated to cover the cost of advertising and marketing in the client's country where the calls will be originated. The estimated gross sales each year are $26,740,000 with an approximate net profit of $13.9 Million.
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.