RIVERSIDE, Calif., July 31, 2013 (GLOBE NEWSWIRE) -- Ingen Technologies Inc. (OTC:IGNT) (http://ingen-tech.com) a holding company of two subsidiaries: developer, manufacturer and marketer of medical equipment and telecom services, is pleased to announce its first purchase order with the Naval Air Forces Atlantic Division of the US Military.
Specifically, a purchase order was received and fulfilled on July 16, 2013 for the Naval Air Forces. The USS George Washington is a nuclear powered aircraft carrier with all of the most state of the art technology aboard, including Ingen's medical products used for oxygen delivery. Our proprietary patented technology allows for surveillance of oxygen flow in the most extreme conditions. There are over 6,000 men and women aboard the ship and the medical technology must be dependable and durable.
"The company is moving forward in a stable direction with its medical division. Our Telecom division is doing very well with increased revenues, and the company will file its annual report later this week. More important is that we will be removing the $2.4M convertible debt with AJW Partners as we have verbally agreed to a buyout at a substantially lower amount. We anticipate resolving this matter in August," stated Gary B. Tilden, Chairman.
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.
Source:Ingen Technologies, Inc.