TOPOUT PURCHASES OXYVIEW—INGEN MEDICAL PRODUCTS PURCHASED BY THE US DEPARTMENT OF INTERIOR AND HOMELAND SECURITY—TATA COMMUNICATIONS CONTRACTS EXPANDING REVENUES—CHINA UNICOM CONTRACTS EXPANDING REVENUES—PROJECTED REVENUES OF $25 MILLION EXPANSION—IGNT SETTLEMENT REDUCTION IN $2.4 MILLION—INGEN PREPARING FOR A SHARE BUY BACK PROGRAM AND DIVIDEND PROGRAM—IGNT PREPARES FOR MORE TELECOM ACQUISITIONS –TELECOM INDUSTRY REVENUES AT $4.7 TRILLION AND 3 PERCENT OF THE GROSS WORLD PRODUCT—INGEN AND ATMC TELECOM BUSINESS HAS CONTRACTS WITH GLOBAL TELECOM LEADERS
RIVERSIDE, Calif., Nov. 1, 2013 (GLOBE NEWSWIRE) -- Ingen Technologies Inc. (OTC:IGNT), (http://ingen-tech.com) a holding company with revenue generating subsidiaries in Medical Device Manufacturing and Telecom Services Industries announces today that the company has received more purchase orders and has delivered 100 more Oxyview units to the world renowned UK based Topout company and leader in high altitude oxygen delivery systems for serious mountain climbing adventures worldwide. Ingen's Oxyview product recently went to the top of Mt. Everest. http://topout.co.uk/
The results of hard work are beginning to pay off as Ingen's patented and proprietary medical products continue to gain global recognition for its application, technology and quality. The sales have been at a crawl the past few years while Ingen realigned the company, and the management team has pushed hard this year as there have been spikes in purchase orders from the US Department of the Interior, and the Department of Homeland Security.
The military market accounts for over 20 million consumers and spends over $1 trillion annually. Ingen's medical products have climbed Mount Everest, and is now sailing away on the worlds most advanced nuclear powered aircraft carrier.
"We are pushing real hard," said Gary Tilden, Chairman. "Government orders and high-end product manufacturers are now using our medical products with great satisfaction as the overall economy and Wall Street continue to improve. Recently our national distribution center for the medical division has upgraded their customer online purchasing systems to improve buying traffic for our products. The potential for our medical products is $50M in annual sales and Ingen plans to reach that goal. Although we have been approached by outside buyers to sell our medical division, if our medical product continues to show promise, we will have to make a decision whether to sell it or keep it, as our team is focused on our growing telecom business. Management continues to close major service contracts with large telecom carriers," stated Gary Tilden, Chairman.
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.