CEO Talks About Increased Sales and Corporate Dedication to Growth
YUCAIPA, Calif., Oct. 22, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT - News), a leading global Medical Device Manufacturer focused on the $4B Respiratory market with their Oxyview products for the growing aging population and emerging markets for Home (DME), Hospital and Aviation industries announced today that the CEO, Scott Sand, will present the Sales and Marketing program for the new Oxyview Nasal Cannula on the live broadcast of The Money Channel's American Scene Radio scheduled later today at 11:34 AM eastern standard time.
On October 31, 2009, Medco Forum will introduce the Oxyview Nasal Cannula at the 2009 Annual Meeting of the American College of Chest Physicians in San Diego-California. The American College of Chest Physicians (ACCP) is a multidisciplinary international medical society with more than 16,000 active members representing more than 100 countries.
On November 18, 2009, Emergo Group will introduce the new Oxyview Nasal Cannula at MEDICA in Germany. MEDICA is the center of attraction for all those involved in the health care industry. More than 135,000 visitors from over 100 countries are expected to again obtain information on all the current and future trends in in-patient and out-patient care at this annual event. With its extensive ancillary program, numerous special events, two major congresses and the largest product display in the industry, MEDICA is the hub of the medical trade.
On January 25, 2010, the Emergo Group will introduce the new Oxyview Nasal Cannula at Arab Health in Dubai. The Arab Health Exhibition & Congress is the largest healthcare exhibition in the Middle East, and the second largest in the world. Arab Health is viewed as a must-attend global event in the healthcare calendar. Established 35 years ago, it provides a platform for the world's leading manufacturers, wholesalers and distributors to meet the medical and scientific community in the Middle East and beyond.
The company advertising in COPD Digest was released on September 14, 2009 to approximately 185,000 clinicians, patients and medical managers and will continue throughout 2010 with a full page editorial and a second full page color ad for every issue. COPD Digest is published with the support of, and contributions from, organizations representing the entire COPD community with a national subscriber base of more than 180,000.
The advertising for Today's Senior Magazine was released September 28, 2009 to approximately 180,000 subscribers. The next issue will feature an introductory price of the Oxyview Nasal Cannula. Today's Senior Magazine is a senior magazine that provides important information, plus local and national products and services for people fifty and over, with 150,000 California subscribers and 30,000 Texas subscribers.
The company has front cover full page editorials with Medco Forum for the fall. Medco Forum is a well-respected medical newsletter written and edited by a select editorial team composed of both physicians and professional medical journalists. Its purpose is to provide healthcare professionals with an exclusive preview of the latest innovations in their medical field prior to their annual conference.
The company reported gross sales of $106,483 in the quarter ended August 31, 2009. This represented an increase from sales of $987 in the quarter ended August 31, 2008. Sales were further sparked by the introduction of an "all-in-one" Oxyview Nasal Cannula unit that includes a cannula with the Oxyview unit. Additional capital also enabled Ingen to increase the advertising and marketing of the Oxyview products. The company anticipates sales of Oxyview to increase from the current quarter's sales as they expand sales channels.
The total cost of sales was $38,804 in the quarter ended August 31, 2009 and the gross profit was $67,679 (a gross margin of 63.6%).
The selling, general and administrative expenses were $598,442 in the quarter ended August 31, 2009. This was an increase of approximately 53.79% from the selling, general and administrative expenses of $276,933 reported in the quarter ended August 31, 2008. The increase in SG&A was due, in part, to additional advertising and marketing fees and increased amounts paid for outside services.
The largest components of the SG&A are advertising, legal and professional services, travel associated with both sales and business development, outside services and salaries. Advertising expense increased from zero in the quarter ended August 31, 2008 to $67,679 in the quarter ended August 31, 2009. The company expects to continue advertising at current levels as the company promotes the new Oxyview Nasal Cannula.
The amounts paid for outside services increased to $163,922 in the quarter ended August 31, 2009 from $61,276 in the quarter ended August 31, 2008 (an increase of 168%). The company is utilizing more outside services for office growth and in the development of a sales and support staff for anticipated increases in sales.
The Company has recorded patents at a cost of $67,345. There are 3 issued patents (2 in the U.S. and 1 in China), and there are 7 pending patents combined in the U.S., Canada, Japan and Europe expected to be granted and issued in 2010. The patents have added value to the intellectual property and will strengthen the market share for the new Oxyview Nasal Cannula.
http://www.medcoforum.com/about.php
http://www.chestnet.org/
http://www.copddigest.org/
http://todayssenior.homestead.com/
http://www.mdna.com/shows/medica.html#page=page-1
http://www.arabhealthonline.com/congress/
www.ingen-tech.com
About Ingen: 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 2009, the company introduced the new Oxyview Nasal Cannula for adult, children and infants. 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 manufacturers 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.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment