YUCAIPA, Calif., June 15, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT - News) 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 expects to be profitable within the 4th quarter of this year.
The company accountants have initiated the preparation of the financial and disclosure statements for an early filing in June-2009. "Our accounting team has already begun the financial preparation for filing our May 31, 2009 Year-End statements and disclosure. This will be filed on or before the end of June-2009," stated Thomas J. Neavitt, Chief Financial officer of Ingen Technologies.
The company continues to make strong progress i.e. strengthening their intellectual property, export sales, and global distribution/OEM partnerships while introducing their new respiratory product line and reducing debt.
"Despite the economic challenges that we faced at the time we began to market our new respiratory products in 2008, we continue to make great strides to point Ingen in a direction of strong earnings and a more realistic market value. The global medical community has become aggressively responsive to the importance of Oxyview and the economical and therapeutic advantages it can offer to our ailing COPD patients worldwide. The company expects to be profitable in our upcoming fourth quarter," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
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. The company has also introduced the new Oxyview-Nasal Cannula in June-2009. 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 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
www.ingen-tech.com
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.
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