Wednesday, April 14, 2004
Ingen Tecnologies, Inc. Signs Vendor Agreements for the U.S. Market With C.H. Distribution & Supply
For Release: Wednesday, April 14, 2004 at 10:00 AM (ET)
Calimesa, CA – April 14, 2004 - Ingen Technologies, Inc. announced today that it has finalized distribution agreements with C.H. Distribution & Supply in Beverly Hills, California for the domestic market. Ingen Technologies recently merged with Creative Recycling Technologies, Inc. which trades under the CRTZ symbol in the OTC Pink Sheets.
Commenting on the new agreements, Scott R. Sand, Chairman/CEO of Ingen Technologies, said: “We believe this will be a fruitful manufacturer/marketer relationship. Ingen will provide a patented product offering important and differentiated benefits to medical and industrial users of our oxygen warning device. C.H. Distribution brings demonstrated effectiveness in penetrating this type of product market. We expect to launch distribution in the April–June, 2004 quarter and anticipate that our sales in the domestic market alone can reach $5 million in the first twelve months and $22 million in the second full year. Our two existing products can boost sales close to $40 million in two years within the medical device market.”
With new development of the digital wireless technology, the company is engineering an even more compatible product that provides hospitals and medical facilities with a computerized monitoring system of multiple units. This wireless version will be made available to the end-user or individual caregiver. It is expected that patent applications will be submitted in the near future; however the existing patent issued for the product will secure the application of the wireless version. This is a monumental addition to the existing product, allowing for a strong increase in our target market. In addition, discussions have been held with large medical-equipment providers who have shown an interest in the oxygen warning products manufactured by Ingen Technologies, Inc.
Ingen Technologies offers a diverse and progressive service and product line. The company is the inventor and manufacturer of a patented medical safety device configured for removable mounting in combination with a high-pressure gas cylinder and regulator, used to regulate the gas supplied by medical remote oxygen delivery cylinders. The product is a warning device that communicates with the user or care giver when oxygen levels drop below the safe level of the oxygen cylinder. With millions of cylinders in the market used every day, Ingen Technologies can deliver the product to oxygen supply companies worldwide within this year. There are no other products or competition of this kind presently in existence. Ingen Technologies has developed its sales network of special medical instrument dealers, and expects to reach 10% of the domestic market within two years after initial delivery. The 10% market distribution level would represent close to $40 million in revenues to the company, with exceptional room for continued growth.
Ingen Technologies continues its research and development with medical device products that help people and reduce personal, insurer, and government spending. Currently new and exciting product development is underway. With the company’s network of physicians, engineers, administrative and marketing staff, we continue look into the future to bring new and better products to the marketplace.
SafeHarbor for Forward-Looking Statements: This news release includes forward-looking statements that are made pursuant to “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. 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 set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
Investor Relations Contact: Scott R. Sand, C.E.O & Chairman
Ingen Technologies, Inc.
285 E. County Line Road
Calimesa, CA 92320
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