RIVERSIDE, Calif., Sept. 5, 2013 (GLOBE NEWSWIRE) -- Ingen Technologies Inc. (OTC:IGNT), (http://ingen-tech.com) the holding company of two subsidiaries; a medical device manufacturing company selling its proprietary patented medical products worldwide, and a newly acquired growing telecom business providing services for major telecom companies worldwide, announced today that the Department of Homeland Security submitted a Purchase Order on August 31, 2013 to purchase Ingen's patented respiratory medical products for the US Coast Guard.
The Department of Interior and Department of Homeland Security have a serious eye to continue to purchase and utilize Ingen's medical products due to the benefits of better patient care, product durability, reliability, increased accuracy and low cost to the consumer. There is great revenue potential with the products being shipped to the US Military, US Coast Guard and the US Forest Service.
There may be promise in Ingen's patented Oxyview and Smart Nasal Cannula with the Department of Homeland Security as Ingen's medical device manufacturing division just received a purchase order of 100 more Oxyview Units for the US Coast Guard, while this past June the Department of the Interior purchased 150 Oxyview Units for the Naval Air Forces Atlantic Division of the US Military for the USS George Washington nuclear powered aircraft carrier.
"Although we are very slow coming out of the gate on the medical product side of our business there is a very strong and serious interest from the Department of Interior and Department of Homeland Security to continue to purchase and utilize our medical products for the Coast Guard, Military and Forest Department. The technology is proprietary and has benefits in the respiratory sector. Ingen has now positioned itself at its most important reflex point of rapid growth, where we our focused on decreasing debts and convertible notes, minimizing share dilution and on the way back to being fully reporting with OTC. Our plans are to buy back shares in the near future to increase share price and shareholder equity. We anticipate a successful stockholder dividend program in the future as we continue to head in this direction of growth," stated Gary Tilden, Chairman.
--Oxyview – Smart Nasal Cannula – Durable, Reliable, More Accurate, Cost Competitive – Respiratory $8 Billion Dollar a Year Business – Ingen Projects $50M Potential Annual Sales in Respiratory Market Sector—Department of Interior and Homeland Security Purchase Orders for IGNT with US Coast Guard and Naval Air Forces--
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.