YUCAIPA, Calif., June 18, 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 ageing population and emerging markets for Home (DME), Hospital and Aviation Industries announced today that the company increased the first shipment of Oxyview-Nasal Cannula orders from 10,000 to 62,000 units, and increased production inventory for June to 100,000 units for a revenue value of $2.8 million.
The company notified Legend Medical Devices on Wednesday of this week that the first orders will be increased from 10,000 to 62,000 units for the new Oxyview-Nasal Cannula shipment. Bill Liang, President of Legend Medical Devices has agreed to prepare a revised delivery schedule. The company has received partial shipment and will start advertising the new Oxyview-Nasal Cannula next week. The company website will be updated and this new product will be available next week.
In addition, the company has notified their Corona-California based production facility, Accent Plastics Inc., to produce another 100,000 Oxyview units. The company will produce 30,000 new Oxyview model 203A units for aviation sales and 70,000 Oxyview model 206A. The new model 203A units will provide pilots with valuable and accurate oxygen readings between 0-3 liters/minute. The company is expecting additional orders from their aviation OEM partner, Delta Technology Inc.
"There is documented demand for our Oxyview products. We are working with COPD Digest on a full page color advertisement in their next edition as a part of our ad saturation campaign. Tom Pridonoff, President of Accent Plastics and Bill Liang, President of Legend Medical Devices have been extremely helpful in keeping on track with our upcoming new production order. More important is that we have completed our funding program under the Rule 504 Registration," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
The company filed a Form D registration under Rule-504 on April 6, 2009, and has recently completed the funding program. The company was notified by Worldwide Stock Transfer on Wednesday this week that the 504 registration had reached its limit. There is no longer a 504 registration or issuance of shares under Rule 504 being implemented at this time.
About Oxyview:
Oxyview is a proprietary medical device with U.S. issued patents that stands alone in an increasing patient home oxygen therapy market while there are 23 million patients diagnosed with chronic obstructive pulmonary disease (COPD) in the United States, according to the World Health Organization, and another 12 million patients that are undiagnosed in the U.S. COPD is the fifth leading cause of death in the U.S. and there are 600 million COPD patients worldwide where in most cases, COPD is either the first or second leading cause of death in other countries. The majority of COPD patients require continued home oxygen therapy, which includes all of the required equipment supplied by the home (DME) provider. With the new regulations for oxygen reimbursement in the U.S., the home (DME) providers need to cut costs to stay in business. Oxyview provides a substantial savings as a result of decreasing the number of service calls for the home (DME) provider. Oxyview is a pneumatic metering device that displays oxygen flow near the patient. The Oxyview flow meter easily and quickly installs on to the oxygen tubing nearest the patient where oxygen flow matters the most. Without the Oxyview, patients cannot confirm oxygen flow, and as a result there is an increase in anxiety and the patient calls the home (DME) provider with concerns. Oxyview also allows the home (DME) provider to trouble-shoot other equipment problems over the telephone which eliminates an on-site visit with the patient. More important, the Oxyview provides the patient with more assurance that they are receiving adequate and prescribed oxygen flow. The Oxyview cost less than a single service call.
www.ingen-tech.com
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.
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