Very good PR just out. A stock repurchase plan with shareholders in mind, ISO certification in August, no threat of reverse split, all good to see and hear. Increasing my position on this tomorrow and switching gears to playing long on this one.
Always excersize Due Dilligence.
Ingen Moves Forward in $40B GSA Schedule for Military and Va Hospitals
25 minutes ago - Globenewswire
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CCWF 1.01 0.00%
IGNT 0.0058 0.00%
As of 3:57 PM ET 7/30/09
Ingen Technologies, Inc. (Pink Sheets:IGNT), 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 expects to be listed as a GSA contractor by the end of the year, and at the same time will finalize the ISO certification in order to export the new Oxyview Nasal Cannula to China, Japan, Canada and Europe.
Ingen has prepaid the fees required for the Texas based KGMA Business Solutions, Inc. to finalize the GSA Schedule 65IIA proposal for submission in August-2009. The GSA Schedule 65IIA allows Ingen to be listed under the U.S. General Services Administration as a contractor to sell medical products and services to the military and government owned VA Hospitals. With hundreds of VA Hospitals and more than 25 million veterans, the new Oxyview Nasal Cannnula will be sold into all of the respiratory departments at a contract price of $4.50 each. It is estimated that there are more than 2 million veterans prescribed home oxygen therapy. The company has already placed the new Oxyview Nasal Cannula with several VA Hospitals around the country. Projected GSA sales for Ingen are expected to be $2M annually.
Cheryl Fisher with the Texas based Emergo Group Inc. is scheduled to finalize ISO training on August 17, 2009. The International Standards Organization (ISO) required certification with manufacturers who sell products in designated countries outside the USA. Ingen is a licensed and FDA registered medical device manufacturer. ISO certification allows Ingen to market and sell the new Oxyview Nasal Cannula in China, Japan, Australia, Canada and Europe, with projected sales of $200M annually.
"Ingen will be GSA listed and ISO certified in time to launch the new Oxyview Nasal Cannula in to new government markets and world markets. This can only strengthen sales and earnings for our shareholders. The company is now preparing for a share buy-back program as a part of strengthening the share price. There are no reverse splits considered now or in the future. The shareholders must be considered first, and our products and revenues will blaze a new trail for this company," stated Scott R. Sand, Chief Financial Officer and Chairman of the Board.
http://www.gsa.gov/Portal/gsa/ep/con...ontentId=10645http://www2.va.gov/directory/guide/home.asp?isFlash=1http://www.emergogroup.com/http://www.iso.org/iso/home.htm
About Ingen/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. 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.
This news release was distributed by GlobeNewswire,
www.globenewswire.com
SOURCE: Ingen Technologies, Inc.
Ingen Technologies, Inc.
Chris Wirth
909-790-7180
info@ingen-tech.comwww.INGEN-TECH.COM
