Thursday, November 11, 2004
Ingen Technologies Receives First Round of $250,000 Funding
IGTN -- Ingen Technologies, Inc.Com (No Par)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
CALIMESA, Calif., Nov 11, 2004 /PRNewswire-FirstCall via COMTEX/ -- Ingen Technologies, Inc. (OTC:
Khoo Yong Sin, the managing partner of the investment group, stated, "We have spent several months evaluating the Ingen Technologies product line and are excited and comfortable in making this investment. Our intentions are long term."
Khoo Yong Sin is an engineer and investor who represents various investment groups throughout Asia. Ingen CEO, Scott Sand, had a meeting with Khoo Yong Sin and his associates in October-2004 to discuss growth opportunities. As a result, the investment group has funded the Company and shown an interest in providing the next round financing of $3 million.
"We have several milestones to accomplish in order to launch the new wireless Oxyalert(TM). The company has a strong team of professionals. Our Board of Directors has accepted to appoint Khoo Yong Sin as one of our Board of Directors. Khoo Yong Sin offers the company a dynamic investment program and distribution ties to Asia," said Scott Sand, CEO and Chairman.
Ingen Technologies has diverse product lines and currently has a revenue stream from the Secure Balance(TM) product line. "Khoo Yong Sin and his investor groups allow the company to accelerate development and sales of the Oxyalert(TM) product, which will penetrate a variety of markets worldwide," said Scott Sand, CEO & Chairman of Ingen Technologies, Inc.
About Ingen Technologies
Ingen Technologies, Inc. is a Public Company trading under OTC: IGTN. In business since 1999, Ingen Technologies is a growth-oriented technology company that offers a diverse and progressive service and product line.
The Company's flagship product is its BAFI (TM) product, the world's first wireless digital low gas warning system for pressurized gas cylinders. The BAFI(TM) received a US Patent on October 24th, 2000, Patent No. 6,137,417. BAFI(TM), now in its second generation, is an accurate and cost-effective, real-time pressurized gas warning system that will alert users when gas levels are approaching empty.
The BAFI(TM) line has multiple applications, inclusive but not limited to, the Medical Industry, Home Consumer, Residential Development Industry, Safety & Protection (fire and police), Aircraft Industry, and the Recreational Vehicle Industry. BAFI(TM) is a patented product that meets or exceeds regulatory compliance of this type of product and is completed and in production.
The successful Secure Balance(TM) program is equipment, training and an educational support system available to physicians throughout the United States. During the initial twelve months, the Secure Balance(TM) system generated approximately $1 million in revenues for Ingen and is now being aggressively marketed throughout the United States. More recently, the company's sales have increased in proportion to the expansion of the Company's marketing network. Its marketing strength is based upon superior products and an experienced professional team.
The Secure Balance(TM) program offers the most sophisticated clinical products for vestibular function testing and balance therapy compared to any of their competitors. "We offer the most medically accepted, comprehensive product line for vestibular function testing and balance therapy, at prices lower than our competition," said Scott Sand, CEO of Ingen Technologies. With more than two million people visiting their doctor each year complaining of dizziness and vertigo; the Secure Balance (TM) program can substantially help patients regain their balance and decrease the number of fall related injuries. The elderly population is expected to double over the next decade and comprise the majority of balance disorder patients. This is an expanding market.
For more information, visit: www.otcfn.com/crtz and http://www.ingen-tech.com/ Investor Relations Contact: Scott R. Sand, C.E.O & Chairman Ingen Technologies, Inc. 285 E. County Line Road Calimesa, CA 92320 800-259-9622 951-675-3266 800-777-1186 FAX [email protected] Rick McCaffrey, Investor Relations OTC Financial Network 781-444-6100 x625 781-444-6101 FAX [email protected]Safe Harbor 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.
SOURCE Ingen Technologies, Inc.
CONTACT: Scott R. Sand, C.E.O & Chairman of Ingen Technologies, Inc., +1-800-259-9622, +1-951-675-3266, fax, +1-800-777-1186, [email protected]; or Rick McCaffrey, Investor Relations of OTC Financial Network, +1-781-444-6100, ext. 625, fax, +1-781-444-6101, [email protected], for Ingen Technologies, Inc. URL: http://www.otcfn.com/crtz http://www.ingen-tech.com/ http://www.prnewswire.com/
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KEYWORD: California INDUSTRY KEYWORD: CPR TLS OIL OTC SUBJECT CODE: FNC OTC
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