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 company has hired Pacific Pearl Group for evaluation of all bids and proposals to acquire Ingen Technologies.
The pacific Pearl Group is a licensed FINRA dealer-broker, headquartered in Los Angeles, California. CRD no. 148077. They are a Sino-specialist consulting company serving investors with some of the best investment and business opportunities between the U.S. and China with experienced private equity and banking experts.
Ingen CEO, Scott R. Sand, had a meeting with David T. Yang, Senior Vice President of the Pacific Pearl Group. Mr. Yang has a solid health and medical background and has proposed to evaluate all bids and focus on the best way to extract Ingen's value through the intellectual property and public foundation built over the past five years.
The company is ahead of schedule in decreasing most of its debts before the end of this quarter, while focused on profitability before the end of the first quarter in August 31, 2009. Worldwide Stock Transfer and Vintage Filings will handle the dissemination of material for the company's Annual Shareholder Meeting scheduled for September 22, 2009.
"I look forward to working with David Yang of the Pacific Pearl Group. We both have parallel ideas on maximizing share value for a buyout and agree that the true value is in the intellectual property, public foundation and growing respiratory global markets. The Pacific Pearl Group brings both value and growth to all of our shareholders," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
http://www.pacpearl.com/
About Ingen Technologies/Oxyview:
Ingen is an established medical device manufacturer with an emerging new medical product line for the respiratory market worth an estimated $4 Billion in the U.S., and $8 billion globally. The company introduced Oxyview into the respiratory market in late 2007 after securing U.S. and Foreign Patents and successful licensing with the Food & Drug Administration, and has commenced domestic and global distribution with manufacture representative organizations, and OEM partners. In addition to selling its respiratory products within the global medical industry, the company is selling the same products within other industries that include aviation, automotive, emergency response, military and government transportation. The company holds a Device Manufacturing License with the State of California, Department of Public Health, Food and Drug Branch as it manufactures all of its respiratory products in the United States. There are 32 million U.S. 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.
$0.0 (07/22/09)
