Letter to Shareholders From Chairman of Ingen Technologies, Inc.
July 8, 2009 4:15 PM EDT
YUCAIPA, Calif., July 8, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets: IGNT), a leading Medical Device Manufacturer focused in the $8 Billion global Respiratory Markets for the growing aging population and emerging markets for Home (DME), Hospital and Aviation Industries, announced today that the CEO and Chairman of the Board has made the following statement.
"We are experienced and committed to the success of this company. Ingen Technologies will continue moving forward in directions that is within the best interest of our shareholders. This company holds increased value within its intellectual property, research & development, new medical product lines in the ever expanding senior markets, inventory and other assets. Although we are receiving serious interest from larger companies regarding a buyout, we must also look at current opportunities in acquisitions of our own that can add value to our product line and our bottom line. The acquisition of Comfort Medical Supply, Inc., although small, would increase our net asset value, decrease our debt, add more revenues, and increase our acquisition value for any future buyout. This acquisition would add an immediate $300,000 to our bottom line, and increase a current buyout price to 10 cents per share. These types of opportunities are rare. Even more important, in the past 8 days we have received hundreds of orders of our new Oxyview Nasal Cannula. These new sales are currently supported by our website and word of mouth, and we expect even a much greater increase in new sales when the advertising programs begin this September, 2009 with COPD Digest and Medco Forum. Again, this could add value to our share price even more for any future buyout. With all of this in mind, the company is moving as quickly as possible to increase our distribution network and complete the ISO Certifications to market and sell our new products in qualified export countries. Ingen will be ISO certified within the next several months, and the Emergo Group is working on identifying and qualifying the necessary large distributors for China, Japan, Canada, Europe and Australia. The company and its management are comprehensively focused on new product sales and we recognize the importance of increased revenues and earnings. Ingen is an undervalued pink-sheet stock, and to increase the value we must increase our own revenues and recognize the value of any recent acquisitions that would strategically position Ingen with a higher buyout price. The company is committed to the success of Ingen and all of its shareholders. With everything combined, the company expects strong growth and increased earnings in the near future," stated Scott R. Sand, Chief Financial Officer and Chairman of the Board.
$0.0 (07/22/09)
