YUCAIPA, Calif., July 21, 2010 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), an emerging medical device manufacturer developing innovative solutions for the respiratory market, with a new patented and proprietary medical product line targeting the $8B respiratory market, announced today that the company revenues have increased from $10,401 reported in May 31, 2009, to $128,917 ending May 31, 2010. This is an increase of 1,139%.
The company will release its annual report next week, while it finalizes the audited restatements later this month as part of our return as a fully reporting company. Ingen delisted on December 4, 2008, at the cusp of the global recession, in order to file a Reg-D Registration and continue funding its product development and sales program. Although at the time it was a difficult decision to be made by management, it turned out to be a wise decision. The company was able to fund its ISO Certification, product inventory requirements, advertising campaign and government contract program.
"Our hard work and perseverance is beginning to show some results," said Scott Sand, CEO. Sand further stated, "The annual report will be published next week. Our cash reserves are steady, our sales are increasing, we've paid off the majority of our debt and shareholder support is strong. After the annual report is released I plan to make a public statement regarding the future growth of Ingen."
Investors can review our current fact sheet at the following link:
http://www.ingen-tech.com/PDFbin/FactSheet.pdf
http://www.smartnasalcannula.com/
http://www.ingenpulseoximeter.com/
About Ingen:
Ingen is an ISO Certified medical device manufacturer with an emerging new medical product line for the respiratory market worth an estimated $4 Billion in the US, and $8 billion globally. The company introduced Oxyview into the respiratory market in late 2007 after securing US and Foreign Patents and a successful registration with the Food & Drug Administration. The company is establishing domestic and global distribution with manufacture representative organizations, and OEM partners. In 2009 the SMART Nasal Cannula using Oxyview Technology was introduced as the world's first oxygen cannula with an in-line pneumatic oxygen flow meter. In 2010 the company introduced its new INGEN Pulse Oximeter. The Oxyview product line is available to the home care markets, commercial medical markets, aviation, automotive, and government sources. The company is licensed with the Department of Health and Human Services, and manufactures its products in the State of California. With approximately 32 million US patients with Chronic Obstructive Pulmonary Disease (COPD), and 600 million patients worldwide, Ingen Technologies is now the largest manufacturer of in-line gravity-independent oxygen flow meters.
The Ingen Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2472
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.