Ingen Technologies Inc (IGNT)

[TechStock]

Stockmaster!
Thank your for research and update! Have a wonderful weekend!
Tech

[stockmasterflash]

the law firm is taking 50% discounted shares

and on contingency???

Adam Tracy???
https://twitter.com/tracyfirm

http://www.otcmarkets.com/research/service-provider/Securities-Compliance-Group-Ltd.?id=4847

The fee for this matter will be based upon an hourly rate of Three Hundred Fifty and 00/100 Dollars ($350/00) (the “Fee”). The Fee shall be payable in shares of the Client’s common stock. For purposes herein, each share of common stock shall be valued at fifty (50%) percent of the trailing thirty day average bid price as quoted on OTC Link as of the date hereof. The Fee shall only become due upon the successful removal of the Global Lock/Chill on the Client’s securities. All reasonable costs related to this engagement, if any, shall be borne by Client.

http://www.sec.gov/Archives/edgar/data/861058/000101968715001106/ingen_8k-1001.htm

http://www.sec.gov/Archives/edgar/data/861058/000101968715001106/0001019687-15-001106-index.htm

[jjj373]

"corporate objectives" 1. make every effort to perpetuate the scam.
2. make every effort to milk whatever we can get out of it.
3. create more shares in order to accomplish 1. and 2.

"current business operations" Duh???????????

IF IT WASN'T SO SAD IT WOULD BE FUNNY.

Oh yes - JMO.

[stockmasterflash]

2500-1 Reverse split

and a name change among other things. ROTFL



1.01 Entry into a Material Definitive Agreement



On January 21, 2015 the company entered into a legal retainer agreement with the Securities Compliance Group LTD authorizing their legal representation to successfully provide corporate legal services to petition the SEC in relation to the final requirements of removing the Global Lock/Chill imposed upon the Client’s securities by the Depository Trust Company. The Company has previously fully complied with the DTC as in reference to the 8K filing on October 22, 2014. Refer to Exhibit 10.1



According to the Board of Director meeting on March 19th, 2015, the Board unanimously agreed to revise any/all Director Agreements for David S Hanson, Gary B Tilden, Richard G Campbell and Donn W Miller. The Directors Agreements were revised to insure accuracy and updated to comply with corporate objectives. Refer to Exhibit 10.2



According to the Board of Director meeting on March 19th, 2015, the Board unanimously agreed to offer revised Employment Agreements for David S Hanson, CEO and Gary B Tilden, COO. The Employment Agreements were revised to insure accuracy and updated to correspond with the current business operations. Refer to Exhibit 10.3



5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.



In connection with the Board Meeting on March 19, 2015 of Ingen Technologies, Inc., a Georgia corporation, held on March 19, 2015, the majority of stockholders re-elected Directors David Hanson, Gary Tilden, Richard Campbell and Donn Miller. Further, the Board appointed David Hanson as the CEO and Gary Tilden as the COO.



5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year



According to the Board of Director meeting on February 20th, 2015, the Board unanimously agreed to do the following:



1. Facilitate a name change of the existing corporation.



2. Amending our Certificate of Incorporation ("Certificate of Incorporation") to effect a reverse stock split of our currently issued and outstanding shares of each class of Capital Stock, mainly our Common Stock Series by a ratio of twenty five hundred for-one (2500:1), or as soon as it is approved by FINRA without reducing the number of our authorized shares of capital stock (the "Reverse Stock Split"). Refer to Exhibit 10.9



8.01 Other Events



According to the Board of Director meeting on January 15, 2015 the Company has agreed to retire certain debt(s) owed to Gary Tilden, the Chairman and COO of the company. Ending November 30, 2014 the company owed an aggregate amount of salary to Mr. Tilden in the principal amount of $348,000, plus unpaid expenses of $18,130. This unpaid salary and expenses has accrued at an interest rate of 6%, with an outstanding interest of $21,652 for salary and another $1,269 for expenses. Further, in accordance to Mr. Tilden’s Employment Agreement, the Company owes him an additional $50,000 each in Preferred Series-A Stock for the past two years for a total of $100,000. The company has agreed to convert the Salary and Expenses to an 6% convertible note in total value of $389,051 with 40% discount to the average of the three lowest trades in the previous 10 days to conversion.. Further, the company has agreed to convert the $100,000 to Shares. The Articles of Incorporation state that the Preferred Series-A shares can be converted to Common Shares at a rate of 1 Preferred Share for 10 Common Shares. There will be two issuances for a total of $100,000 whereas; the company has agreed to issue 500,000,000 common shares, in lieu of Preferred Shares at a price of $.0001 for $50,000, and 50,000,000 Preferred Series-A Shares at a price of $.001 for $50,000. Refer to Exhibit 10.4



2




According to the Board of Director meeting on January 15, 2015 the Company has agreed to retire certain debt(s) owed to David Hanson, the CEO of the company. Ending November 30, 2014 the company owed an aggregate amount of salary to Mr. Hanson in the principal amount of $130,500, plus unpaid expenses of $7,695. This unpaid salary and expenses has accrued at an interest rate of 6%, with an outstanding interest of $2,772 for salary and another $192 for expenses. Further, in accordance to Mr. Hanson’s Employment Agreement, the Company owes him an additional $62,500 in Preferred Series-A Stock during the past year. The company has agreed to convert the Salary and Expenses to a 6% convertible note in total value of $141,159 with 40% discount to the average of the three lowest trades in the previous 10 days to conversion. Further, the company has agreed to convert the $62,500 to Shares. The Articles of Incorporation state that the Preferred Series-A shares can be converted to Common Shares at a rate of 1 Preferred Share for 10 Common Shares. There will be two issuances for a total of $62,500 whereas; the company has agreed to issue 500,000,000 common shares at a price of $.0001 for $50,000, and 12,500,000 Preferred Series-A Shares at a price of $.001 for $12,500. Refer to Exhibit 10.5



According to the Board of Director meeting on January 15, 2015 the Company has agreed to retire certain debt(s) owed to Richard Campbell, the Director of the company. Ending November 30, 2014 the company owed an aggregate amount of Expenses to Mr. Campbell in the principal amount of $43,759, inclusive of $4,500 in expenses and $39,259 owed for Engineering Services under RC Product Development and Engineering of Which Richard Campbell is President. This unpaid expense has not accrued interest. Further, in accordance to Mr. Campbell’s Director Agreement, the Company owes him an additional 500,000 each in Preferred Series-A Stock for the past two years for a total of 1,000,000 shares. The company has agreed to convert the Salary and Expenses to an 6% convertible note in total value of $43,759 with 40% discount to the average of the three lowest trades in the previous 10 days to conversion. Further, the company has agreed to issue 1,000,000 Preferred Series-A Shares. The Articles of Incorporation state that the Preferred Series-A shares can be converted to Common Shares at a rate of 1 Preferred Share for 10 Common Shares. Refer to Exhibit 10.6



According to the Board of Director meeting on January 15, 2015 the Company has agreed to retire certain debt(s) owed to Donn Miller, the Director of the company. Ending November 30, 2014 the company owed an aggregate amount of Expenses to Mr. Miller in the principal amount of $4,500. This unpaid expense has not accrued interest. Further, in accordance to Mr. Miller’s Director Agreement, the Company owes him an additional 500,000 each in Preferred Series-A Stock for the past year for a total of 1,000,000 shares. The company has agreed to convert the Expenses to an 6% convertible note in total value of $4,500 with 40% discount to the average of the three lowest trades in the previous 10 days to conversion. Further, the company has agreed to issue 1,000,000 Preferred Series-A Shares. The Articles of Incorporation state that the Preferred Series-A shares can be converted to Common Shares at a rate of 1 Preferred Share for 10 Common Shares. Refer to Exhibit 10.7



According to the Board of Director meeting on January 15, 2015 the Company has agreed to retire certain debt(s) owed to Scott Sand, a beneficial note holder of the company. Mr. Sand loaned cash to the company between April of 2012 and November 30, 2014. Ending November 30, 2014 the company owed a total principal amount of $148,235. This principal amount accrued interest at a rate of 6% for a total amount of $48,733. The Board of Directors have agreed to convert a total amount of $196,968 to a 6% convertible note with discount features of 40% of the average lowest three trades in the previous 20 days to conversion. The maturity date of this note is January 15, 2016. Refer to Exhibit 10.8



3




According to the Board of Director meeting on March 19, 2015 the Company has agreed to renew the Employment Agreement with Scott Sand. Mr. Sand had an Employment Agreement dated February 4, 2014 whereas SAND will receive an annual salary of $100,000 in the form of a convertible note with conversion features of 50% discount and 12% interest. Ending February 3, 2015 the company owed a total principal amount of $100,000 to Mr. Sand under the terms of his Employment Agreement. This principal amount accrued interest at a rate of 12% for a total amount of $12,000. The Board of Directors have agreed to convert a total amount of $112,000 to an 6% convertible note with discount features of 40% of the average lowest three trades in the previous 20 days to conversion. The maturity date of this note is March 20, 2016. Refer to Exhibit 10.8



According to the Board of Director meeting on January 15, 2015 the Company agreed to cancel certain Preferred Series-A Stock owned by Scott Sand, a Beneficial Owner, in the aggregate amount of 62,294,293 shares. Specifically, as reference to the attached copy; certificate(s) no. 24 in the amount of 246,667 shares issued on May 16, 2008, certificate(s) no. 28 in the amount of 1,047,626 issued on November 3, 2008, certificate(s) no. 41 in the amount of 50,000,000 issued on January 21, 2009, and certificate no. 58 in the amount of 11,000,000 issued on June 23, 2009, The Board of Directors authorized a resolution stating that the shares would be canceled and replaced with a Convertible Note. According to the Articles of Incorporation, the Preferred Series-A shares have a conversion feature of 10 common shares for each Preferred Series-A share. The company has agreed to convert these shares at an equivalent amount of 622,942,930 common shares at a common share price of $.005, which is equivalent to $3,114,714.65. The interest rate on this note will be 6%, and the conversion feature will be 40% discount to the average of the three lowest trade in the previous 10 days to conversion. This note will have a maturity date of January 15, 2016. Refer to Exhibit 10.8

[mythical_phenix]

Billion new shares. Just too funny! Thanks goodness for the global lock...

Shares Outstanding 1,671,460,801 a/o Mar 04, 2015

Shares Outstanding 671,460,837 a/o Jun 29, 2014

[stockmasterflash]

I was unaware

that Sand was CEO of Medcentrex at the same time he was CEO here. Hey--it's on Linkedin, it must be true!

https://www.linkedin.com/pub/scott-sand/67/705/85a

[DFDBTB]

Dinosaurs.

InGen

CEO John Hammond

Jurassic WORLD

[stockmasterflash]

Dick Weed

Was IGNT's attorney. At one time, due to IGNT paying him in anti dilutive shares, owned over 70% of the company.

California lawyer charged in Boston stock case

Dec 5, 2014, 9:17am EST
Staff Boston Business Journal
http://www.bizjournals.com/boston/news/2014/12/05/california-lawyer-charged-in-boston-stock-case.html

A California attorney has become yet the latest person charged in a stock scam case that partly involves a shell company secretly controlled by the Federal Bureau of Investigation.

Richard Weed, an attorney in Newport Beach, Calif., was indicted on multiple counts of securities and wire fraud for his alleged involvement in a conspiracy to sell unauthorized over-the-counter stocks and cover up a pump-and-dump stock schemes.

In a filing at the U.S. District Court in Massachusetts, federal officials charge that Weed regularly conspired to conceal the true ownership and intent of a publicly traded Nevada company that went under the various names of CitySide, Causeway and UBEX.

And he's charged with similar fraud activities involving a company called Amogear Inc., a purported Boston-based sports apparel firm that was actually owned and controlled by the FBI through an unnamed co-conspirator. From September 2013 through February 2014, an undercover FBI agent even served as Amogear's chief executive officer, according today's indictment filing.

The undercover operation allowed the FBI to have a bird's-eye view of the sometimes-shady world of over-the-counter stocks.

Last summer, federal officials announced charges against two South Carolina stock promoters for running a stock scam, also around the FBI's Amogear shell company, as part of an overall operation called "Operation Pennypincher."

http://www.bizjournals.com/boston/news/2014/12/05/california-lawyer-charged-in-boston-stock-case.html

[jjj373]

Yes - read the 8K filed 10/22 and don't invest or trade in SCAMS.

[stockmasterflash]

Yes, IGNT gave up on it

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=107434714

Item 8.01 Other Events

The following events conclude the Company’s matter regarding the DTC Global Lock and Chill.

[inthesky]

Any update here on a lock release?

[mythical_phenix]

Dick Weed (lol!) in some trouble. Courtesy of samsamsamiam:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=107926936

SEC Charges California Lawyer and Two Massachusetts Men Behind Scheme to Manipulate Stock of Sports Ticket Broker

http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370543376662#.VFwqpvnF9Pc
FOR IMMEDIATE RELEASE
2014-250
Washington D.C., Nov. 6, 2014 — The Securities and Exchange Commission today charged an attorney in Orange County, Calif., and two men in Massachusetts behind a pump-and-dump scheme that defrauded investors in a Boston-based ticket brokering business.
The SEC alleges that Richard Weed, a partner in a Newport Beach law practice, facilitated a scheme to pump and dump the stock of CitySide Tickets Inc., which he helped structure into a publicly traded company through reverse mergers. Weed created backdated promissory notes and authored false legal opinion letters that enabled Thomas Brazil and Coleman Flaherty to obtain millions of purportedly unrestricted shares of stock in the company. Investors were then blitzed with a false and misleading promotional campaign touting CitySide Tickets as a budding national leader on the verge of acquiring smaller ticket firms across the country and positioning itself as an attractive takeover target for Ticketmaster. As the company’s stock price increased on the false hype, Brazil and Flaherty sold their shares to unsuspecting investors for illicit proceeds of approximately $3 million, and Weed was well-compensated for his role in the scheme. Shortly thereafter, the market for CitySide Tickets stock collapsed and the company eventually went out of business.

In a parallel case, the U.S. Attorney’s Office for the District of Massachusetts today announced criminal actions against Weed, Brazil, and Flaherty.

“CitySide was billed as the hottest ticket in town and investors were encouraged to get in the game when the playing field was actually tilted against them,” said Paul G. Levenson, Director of the SEC’s Boston Regional Office. “Weed exploited his position of legal authority to enable Brazil and Flaherty to get the stock needed to pull off the scheme, and he served as an officer and director of CitySide to help them secretly control the company.”

According to the SEC’s complaint filed in federal court in Boston, all of the false promotions painted a rosy, optimistic picture of a company that was actually in dire financial straits. For example, one promotional alert falsely claimed that CitySide Tickets was “in the process now of swallowing up 5 smaller ticket resellers that could send next year’s profits through the roof.” In reality, CitySide Tickets lacked the means for such acquisitions. The alert further embellished that the company’s growth from purportedly swallowing up smaller fish in the ticket-selling market would make CitySide Tickets “an irresistible takeover target for Ticketmaster, the biggest fish of all.” The alert estimated that a Ticketmaster acquisition of CitySide Tickets “could easily jump this under-50-cent stock to $2.50 - $3.50 overnight.”

The SEC’s complaint charges Brazil, Flaherty, and Weed with violating antifraud provisions of the federal securities laws and related rules. The SEC is seeking disgorgement of ill-gotten gains from the scheme plus interest and penalties as well as penny stock bars and permanent injunctions against further violations of the securities laws. The SEC also is seeking to bar Weed from serving as an officer or director of any public company. Weed lives in Newport Beach, Brazil lives in Topsfield, Mass., and Flaherty lives in Hingham, Mass.

The SEC’s investigation was conducted by Andrew J. Palid and Mark Albers of the SEC’s Boston Regional Office and supervised by Michele T. Perillo. The SEC’s litigation will be led by Martin F. Healey. SEC attorney Eric A. Forni has been appointed a Special Assistant U.S. Attorney in the parallel criminal case. The SEC appreciates the assistance of the U.S. Attorney’s Office for the District of Massachusetts, Federal Bureau of Investigation, and Financial Industry Regulatory Authority.
###
=====

http://www.sec.gov/litigation/complaints/2014/comp-pr2014-250.pdf

[jjj373]

Apparently simply paying an Attorney to write a letter to the FINRA and/or SEC stating that "all is well" doesn't cut it anymore?

[stockmasterflash]

Finra may be getting more aggressive in regulation of microcaps
by Bill Meagher | Published November 3, 2014 at 3:10 PM

http://www.thedeal.com/content/regulatory/finra-may-be-getting-more-aggressive-in-regulation-of-microcaps.php

When Michael Siegel, CEO of EcoloCap Solutions Inc. (ECOS), signed an agreement last year to sell convertible notes to Asher Enterprises Inc., he knew the money could dilute his shareholders, but he had no idea that months later the agreement would keep his company from completing a 1-for-2,000 reverse share split.

But a Sept. 16 letter from the Financial Industry Regulatory Authority says that the agreement between EcoloCap and microcap financier Asher and a 2013 SEC enforcement action against Asher president Curt Kramer caused Finra to deny the fairly common corporate action.

The denial could be a sign that Finra is now using more discretion and doing more due diligence when considering even the most common corporate actions of microcap companies.

A securities lawyer who has had at least 10 such applications before Finra in the last three months says the securities industry regulator is moving in a more deliberate fashion.

"It doesn't make any difference whether it was a name change, a ticker symbol or reverse or forward splits. Finra is looking at these things more deeply," the attorney said. "They are looking at who the officers are, who the directors are. It doesn't matter what kind of application is being considered. Companies that have solid balance sheets won't have problems, but companies that are shaky are going to be looked at closely."

Finra is responsible for regulating broker-dealers and transfer agents and for tracking trades that take place on domestic securities exchanges and OTC Markets Group Inc.'s (OTCM) platforms, where a substantial number of microcap stocks are listed.

Finra spokeswoman Nancy Condon said the time it takes the regulator to process applications is a reflection of whether the companies provide complete information. She declined to comment on whether Finra was performing more due diligence or whether it had adopted new or different standards for review or enforcement.

EcoloCap, based in Barrington, Ill., describes itself as a network of companies using nanotechnology to develop alternative energy products.

In its second-quarter financial statement, EcoloCap reported no revenue and losses of $622,042 for the first half of the year, and zero cash on hand at the end of the quarter. The company also had $1.88 million in notes outstanding.

Prior to submitting its reverse-split application to Finra, EcoloCap had processed the change with the state of Nevada, where the company is registered, and obtained shareholders' permission to reduce its number of shares.

Finra stated in its letter denying the reverse split that it had "actual knowledge" that the company or people connected to the company or its proposed corporate action "are the subject of a pending, adjudicated or settled regulatory action or investigation by a federal, state or foreign regulatory agency, or a self-regulatory organization; or a civil or criminal action related to fraud or securities laws violations."

The person that Finra was referring to is Kramer, by virtue of the convertible note agreement.

Last November, the SEC announced a settlement with Kramer and his companies Mazuma Holding Corp., Mazuma Funding Corp. and Mazuma Corp. over allegations that they had purchased 2 billion unregistered shares of Laidlaw Energy Group Inc. and more than 1 billion shares of Bederra Corp. Inc. at significant discounts and sold the unregistered shares into the market, making more than $1 million on the transactions.

Without admitting or denying the allegations, Kramer and the Mazuma companies agreed to pay $1.4 million in disgorgement of profits plus interest and penalties.

Finra noted that Asher controls 640.5 million EcoloCap shares and a $32,500 promissory note that will be convertible into stock in January. Converting the note would give Asher about a 10% stake in EcoloCap, Finra said.

An attorney who represents EcoloCap says that the regulator is wrong.

"The magic word is, 'connected,'" said Conrad Lysiak with the Law Office of Conrad C. Lysiak PS in Spokane, Wash. "What does that mean exactly? Kramer is not an officer, a director, a promoter, advisor or transfer agent. Does the company have a debtor-creditor relationship? Sure. But is he connected? Let me ask you this: What if ECOS had filed for a name change? Would Finra be holding that up as well?"

A securities lawyer who is familiar with Finra said the regulator would likely process the name change application because a name change doesn't affect the market, but a change in outstanding shares and share value does.

EcoloCap submitted a notice of appeal of Finra's decision, but failed to pay the $4,000 filing fee, according to a Sept. 30 filing with the SEC.

"I literally had to decide whether to pay my mortgage or pay the $4,000 to Finra," EcoloCap CEO Siegel said.

Lysiak questions why it costs so much to appeal a decision with Finra.

"You can bring an appeal in federal court for no more than $500," he said. "Why is Finra charging so much? It's because they don't want to see any appeals."

Siegel has said in a blog post on EcoloCap's website and in SEC filings that Kramer wasn't connected to the company.

In an interview, Siegel said that the agreement between Asher and EcoloCap is perfectly legal. Siegel said that Kramer paid his fine to the SEC and was not subject to any sort of ban.

"They were looking for any reason to say no to the split," Siegel said. "That's how it feels."

Asher and Kramer, along with related entities like Mazuma, are active providers of convertible debt financing to microcap companies. Kramer, based in Great Neck, N.Y., typically offers high-interest loans that he can convert into stock at deep discounts to market price. Free trading shares can be picked up by Asher at discounts as deep as 70% to the companies' recent trading lows. This structure is often referred to as toxic or death spiral financing.

The companies that avail themselves of this type of finance are aware of how it is viewed by investors. On at least half a dozen occasions in the last year, companies took the unusual step of issuing press releases to let the market know that convertible debt held by Asher had been paid off in full.

Siegel defended his company's use of financing from Asher.

"If it wasn't for guys like Asher, companies like us would be out of business," he said. "They do a service."

Kramer did not respond to a request for a comment.

Laura Anthony, founding partner of law firm Legal & Compliance LLC in West Palm Beach, Fla., said in a recent blog post that Finra's denial of EcoloCap's proposed transaction shows a split between state and federal law.

Before 2010, states had the main authority to approve or disapprove of actions such as reverse splits by companies whose shares were traded over the counter.

But then the SEC approved Finra Rule 6490, which required companies to notify Finra of actions such as reverse splits, dividends or name changes. It also gave Finra power to conduct reviews when such actions were proposed and to refuse to allow the actions when it received incomplete paperwork or when it saw indications of potential fraud.

Finra used its authority under Rule 6490 to deny EcoloCap's reverse split, even though the company had already amended its articles of incorporation on file with the state of Nevada, making the reverse split effective under state law, Anthony wrote.

"Clearly it is problematic when state and federal rules and regulations cause a conflicting result, leaving a board of directors, shareholders and the investing public in a state of flux," she stated. "What is the capitalization of ECOS? In accordance with the state law, the company has approximately 3.4 million shares issued and outstanding; however, according to the over-the-counter marketplace, the company has approximately 6.8 billion shares outstanding. Legally it seems the company has 3.4 million shares of stock outstanding at a trading price of $.0001 and that Finra's refusal to process relates solely to a refusal to re-price the stock as a result of the reverse split and not a broader refusal to recognize the validity of the share reduction itself."

A former Finra enforcement official said that cases like EcoloCap's may become more common.

"They are concerned with the bad actors and they are looking more closely at this niche. I think that is fair to say," the former official said.

OTC Markets CEO Cromwell Coulson said he welcomes Finra looking more closely at companies whose shares trade over the counter.

"Having a more active regulator in this niche will be a good thing for everyone," he said.
- See more at: http://www.thedeal.com/content/regulatory/finra-may-be-getting-more-aggressive-in-regulation-of-microcaps.php#sthash.2JbJ98EI.dpuf

[stockmasterflash]

Friendly lawsuit settlements

are a method to circumvent registration requirements

IGNT used NIR group as a lender previously and they were famous for that. Look at the NY Supreme court website for cases involving AJW/NIR. They couldn't possibly be involved in that many adversarial suits.

they sued IGNT and settled

The tactic may be used here again.

[Meatball40]

I noticed that as of Aug. 28 ATMC is no longer part of the company and that WJS is demanding their full $70,000 as per settlement agreement. Interesting!

[stockmasterflash]

http://investorshub.advfn.com/The-Real-DTCC-Discussion-23867/

[Meatball40]

Got a question, If IGNT or Ingen Tech is under this freeze, then why is it that every now and again I notice shares of stock being traded?

[jjj373]

Good Luck with that. You'll need it.

[betterdaze]

Can't wait til chill is lifted, still believe in Oxyview $$

[jjj373]

Doesn't sound as if anything is concluded. However, I can understand the frustration. The Piggy Bank broke and they can't fix it.
Bah Waaaaaaaaaaaaa!

[stockmasterflash]

Kind of a Pissy opening line

Sounds semi illiterate too. Who wrote it? Sand? Medley?

Item 8.01 Other Events

The following events conclude the Company’s matter regarding the DTC Global Lock and Chill.


Ok, so.....what's the next step guys? Whatever happened to "Ingen's Telecom division"? You announce that INGEN's telecom division is reporting record revenues, but then you disclose Ingen still didn't buy their telecom dicvision yet.

And you wonder why the SEC, DTC, and Finra have it in for you (besides the bribing the FBI agent part)

[stockmasterflash]

whiny scammers

http://www.sec.gov/Archives/edgar/data/861058/000101968714003928/ingen_8k.htm

Item 8.01 Other Events



The following events conclude the Company’s matter regarding the DTC Global Lock and Chill.



On October 20, 2009 the Company was notified by DTC’s Deputy General Counsel, Isaac Montal, that there was a Chill placed on Ingen’s securities.



On October 20, 2009 the Company’s General Counsel, Richard Weed, contacted DTC’s Deputy General Counsel to confirm the reasons for DTC’s decision to place a Chill, and requested the information required to remove the Chill.



On October 23, 2009 Attorney Richard Weed, along with the assistance of Ingen’s transfer agent, Worldwide Stock Transfer, provided all information to Mr. Montal as requested by DTC’s Deputy General Counsel, Isaac Montal.



Between October 23, 2009 and February 20, 2014, the Company did not receive any communication from DTC, despite multiple requests from Ingen to remove the Chill.



On February 20, 2014 the Company hired Attorney John Root to make contact with DTC regarding the status of removing the Chill. Between February 20, 2014 and June 19, 2014 Mr. Root was engaged with providing various information with DTC required to remove the Chill.



On June 9, 2014 Attorney John Root was directly notified by DTC of a Global Lock related to a Chill from 2009. DTC neglected to notify Ingen of the Global Lock, and attorney John Root was unaware of any notification sent by Federal Express due to a personal illness.



On June 10, 2014 Ingen sent a formal request to DTC requesting an update, unknowingly that DTC had sent notification to John Root on June 9, 2014. DTC responded to Ingen, informing and providing Ingen’s Chairman, Gary Tilden, with a copy of the letter that was sent to John Root on June 9, 2014. Based on the communication, DTC agreed to allow Ingen additional time to respond to removing the Global Lock and Chill.



On June 19, 2014 the Company replaced Attorney John Root with Attorney William Haseltine in order to resolve all matters related to the Company and the Depository Trust Company concerning removal of the Global Lock and Chill.



On July 8, 2014 Attorney William Haseltine submitted all of the required documents and responses to the Depository trust Company in order to remove the Global Lock and terminate the restrictions placed on the Company’s securities.



On July 29, 2014 the company received a request from DTC for additional modifications to the DTC Response Letter.



On August 26, 2014 Attorney William Haseltine provided the final opinion and response to DTC in order to lift the Global Lock.



On October 15, 2014, the Company sent a letter to the Depository Trust & Clearing Company requesting that the DTC recognize their responsibility to lift any/all restrictions placed upon Ingen’s Common Stock for the good of Ingen’s 671 shareholders.

[stockmasterflash]

Wonder how those profits from Ingen's wireless division are going?

Without a "quarterly" kid of hard to tell, isn't it. Yo, Scott Sand....time to have your puppet release a quarterly....

http://www.otcmarkets.com/stock/IGNT/filings

[stockmasterflash]

So am i

Disgusted that the guy can be sent to prison for running a fraud company, yet come back and be an employee and controlling shareholder in the same scam company

[jjj373]

Thank you for the excellent DD. Personally, I am surprised that this POS is still listed.

[mythical_phenix]

Anyone else still waste their time reading Bustlin' Ingen's filings? Annual report out. Same ole Same ole.

Who thought the ATMC aquisition was consumated and that 'Ingen Accounting for Profits From Telecom Wireless Division' was happening? [not me]:

On April 29, 2013, the Registrant and its Board of Directors, and majority shareholder(s) adopted the PURCHASE and AGREEMENT OF ACQUISITION (the "Acquisition") dated April 29, 2013, with ATMC Inc., a Nevada corporation (“ATMC”).
ATMC Inc. (A Nevada Corporation) is an Inter
...
As of May 31, 2014, the Company is considering abandoning this acquisition

Who thought the AJW debt had been settled? [actually, I did. Silly me]:

Third Party accredited investor has agreed under the AGREEMENT FOR SETTLEMENT, RELEASE, AND ASSIGNMENT OF NOTES to acquire the Notes, in full for $300,000 and to make payments on behalf of Ingen to the Funds to induce the Funds to discontinue and/or release claims they have or may have against Ingen. Both parties have agreed to resolve this agreement once Ingen has resolved its matter with DTCC regarding removing DTCC “Chill”. The Company has hired legal counsel that has satisfied the DTCC request and is now waiting for DTCC to remove the “Chill”.

Chill? LOL! They've been 'global locked'. That's a total freeze out.


Who thought the annual report, which winds up 31 May 2014, might mention some subsequent events?

Subsequent Events

Ingen evaluated subsequent events through the date these financial statements were issued for disclosure purposes.

Who knew Sand was still on the dole?

On February 4, 2014, the Company entered into an employment agreement with Mr. Sand issuing him a convertible note in the amount of $100,000 in exchange for employment services over a 12 month period. The note bears an interest rate of 12% and is convertible into the Company’s common stock at a discount rate of 50% to the market trading price of the security at the time of conversion. The Company booked this issuance as a prepaid expense and is deducting the $100,000 over a 12 month period. As of May 31, 2014, the prepaid amount for the services is $66,667 and the Company has accrued $4,000 in interest on the note

Who knows this company has trouble with figures?

 
 NOTE 4 - PROPERTY AND EQUIPMENT 
 Property and equipment is summarized as follows: 
 Dies, Molds & Tooling           143,908 
 Leasehold Improvements           44,796 
 --------------------------------------- 
                                 285,359 
 Less accumulated depreciation ( 143,908) 
 --------------------------------------- 
 Property and Equipment, net $ - 0 - 
 

--

[goodplenty100]

Thank you Blue

[jjj373]

Appears that x-con Scott Sand & Company pushed their little SCAM a bit too far.

[kintail]

Did I miss the memorial service? I know my money was part of the cremation.

[mythical_phenix]

New shares just tricklin' out now. Only a few million in a five weeks or so. Not much use for those shares now, eh? LOL!

IGNT Security Details
Share Structure
Market Value1 $268,584 a/o
Shares Outstanding 671,460,837 a/o Jun 29, 2014
Float 602,286,922 a/o Jun 29, 2014
Authorized Shares 8,000,000,000 a/o Aug 28, 2013
Par Value No Par Value
Shareholders
Shareholders of Record 671 a/o Jun 15, 2014

[mythical_phenix]

Courtesy of BigBake1, in a response to my question of 'what exactly does the suspension of all services with the exception of Custody Services' mean:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103730113

The Suspension of all DTCC services is not a TRADING RESTRICTION, it is simply a denial of SETTELEMENT services at the DTCC. However, many brokers can clear their own trades in a security as they have their own clearing services. These brokers tend to close out their open positions for their customers and clear only trades that were already in the system before the suspension notice took effect. You will see some volume for a few days and then it gets pretty illiquid quite quickly.

There will be spurts of volume for a few months as some shareholders will in fact write off the worthless security stuck in their account. These "penny for the lot" transactions must be recorded to FINRA on the consolidated tape.

Take a look at any previously Global Lock security and you will find the same pattern of volume the first few days and then it bleeds right off to absolutely nothing.

These recent suspension are due to a FINRA action in which someone was issued shares by the company or shell, the company provided opinion to convert to free trading using an exemption from registration. Turns out these shells (companies) have no exemptions available due to their shell status and thus the shares sold into the market are illegal. I have forgotten how many different shells are involved at this point, but I think it is somewhere close to 20 at this point.

[jjj373]

Yep.....and I received a PM recently accusing me of "causing people to loose money". Unfortunately there are too many people who profit from scams like Ingen.

[integral]

Soon as Alpine, Scottsdale, and Wilson Davis are gone, the non reporting pink sheet triple zero stocks will disappear. No Congressional legislation required.

DTCC is making it harder and harder for these scams to operate.

[stockmasterflash]

The sad part is

a lot of the "investors" playing the .000 game don't have $700 to pay.

Makes me cringe whenever those clowns say to "mind your own business"...."just walk away" Stealing money from those who can least afford to lose it.

Brokerages wised up here long ago...

""On July 17, 2013, the Company received notice from Mr. Chicola, Managing Partner of Sage Marketing Advisors, that he was unsuccessful with depositing the shares with any of his brokers. Due to this matter Sage Marketing Advisors was unable to perform any services under the terms and conditions set forth within the Agreement. ""

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90351795

[integral]

DTCC suspended clearing. Wait til shareholders get letters from their brokers clearing firm demading to physically deliver the cert out of the account and pay the nice big fat fee. A nice kick for shareholders in the rear from the dumpster hucksters running this scam. Nothing like having to pay more money after they became stuckholders. Bad enough to lose all of your investment, but then have your broker charge you $700 to get this garbage out of your account. If you don't they will force you. And bill you. If you don't pay the bill, they will file in most likely small claims court. You wont show and then will get a default and lien on you.

Nice CEO, very nice person.

[stockmasterflash]

Ogclip © Member Level Wednesday, 05/20/09 04:20:21 PM
Re: stockmasterflash post# 5209
Post # of 10937
How could the OS have grown 200M in 45 days if NOWHERE near that volume traded?

Could your numbers be off? ITs only been 2 months since the R/S

As of the 13th of May only LESS than 100M shares were traded prior to the May 13th update... Your figures must be off..

Outstanding Shares
268,675,075 as of May 13, 2009

EDIT

I see now.. Your just another disgruntled shareholder.. Buy some shares now and sell for a 100% gain.. make back the money you lost.. Rule #1 bud.. DONT FALL IN LOVE

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37996283

stockmasterflash Wednesday, 05/20/09 04:05:38 PM
Re: None
Post # of 10937
If the shares outstanding

grew from 50 million to 250 million in just 45 days

and the company has no cash

and the company has $5 million in debt

and the company has no sales

and the company and CEO have numerous judgements against it

and the company has had 3 reverse splits in the last 2 years

What makes you think this is going to do anything other than what it is doing right now???

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37995698

[stockmasterflash]

We noted how fast it was going in realtime back then

http://investorshub.advfn.com/Ingen-Technologies-Inc-IGNT-4020/?NextStart=5070

Right after the reverse split it went from 30 cents to sub penny in less than a month.

Looks like WI got some shares out into the market

[jjj373]

Very interesting indeed! Page 19 Customer WI [?]

108,205,303 shares IGNT Received between April 2 and June 8 2009.

SOLD ALL April 8 thru June 12 2009.

1. Be interesting to know who WI is.
2. Will go back and check "who posted what" on the message boards during that time period.
3. Boca Raton Florida pops up again. People laugh when I refer to Boca Raton as Scam Central but I am dead serious. It is.

Referring to #2, doesn't seem to matter who posts what anyway.

[mythical_phenix]

LOL! Instead of a thaw, it got the big 'ole freeze-out!

Remember this ridiculous press release from 30 December 2013?

RIVERSIDE, CA--(Marketwired - Dec 30, 2013) - Ingen Technologies Inc. (PINKSHEETS: IGNT) (http://ingen-tech.com), the holding company of two subsidiaries; a medical device manufacturing company selling its patented medical products worldwide, and a newly acquired growing wireless telecom business providing services to major telecom companies worldwide, announced the results of the shareholder conference held on December 16th, 2013.

The major highlight of the shareholder teleconference was the approval to accept the option of taking the company to the OTCQB. Gary Tilden, Chairman, and David Hanson, Director conducted the shareholder meeting.

More recently, the company is also strongly considering a listing on the American Stock Exchange (AMEX) pursuant to discussions and the evaluation of a Memorandum of Understanding with Benchmark Advisory Partners.

"This teleconference was an opportunity to reach out to our shareholders and investors to discuss specific changes that, over time, will create better liquidity and exposure of Ingen. The company has resolved the majority of its debt issues, as well as being in the process of removing the DTCC 'CHILL' on its stock," stated Gary Tilden, Chairman. Mr. Tilden further stated, "Both of our subsidiaries are in profitable market sectors with growing industry economics, where increased revenues are beginning to become apparent. This growth should result in stronger shareholder value for our current and future shareholders. The move to the OTCQB or AMEX will only enhance the progress already being made."

[mythical_phenix]

Courtesy of Renee:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103659877

June 23rd, 2014: IGNT, CTYX, LVGI: Please be advised that effective June 23, 2014 DTC has suspended all services, with the exception of Custody Services, for the below referenced issues.

http://www.dtcc.com/~/media/Files/pdf/2014/6/23/1286-14.ashx

There's a link in the DTCC doc to an underlying court case. Good read there. It would be nice if this would simply prevent all further sales of this turd, but that may be wishful thinking. I'm not sure what the suspension of services even means.
--

[BLULLISH]

YEP-SELL AT 0.0005 AND GO BUY ANOTHER STOCKS TRADING @0.0002-AND FLIP FOR 4'S OR 6'S OR EVEN 0.002 INSTEAD OF SITTING HER FOR MONTHS WHILE THIS HEADS TO 0.0001

[BLULLISH]

I SOLD ALL MY SHARES-SITTING HERE-IS A WASTE-OF TIME-GOING TO 0.0001

[Meatball40]

Wonder who is unloading their shares, SCOTT?

[stockmasterflash]

Kind of

Being the largest shareholder of IGNT, he needs a source of income to bolster the claim he has no affiliation with IGNT. Also, the claim that he is a penny stock financing wizard may get traction and he might pick up some business along the way. Most dopes involved in pennystocks would be wholly unable to figure out the guy spent a year in prison for pennystock fraud. People were throwing money at him at IGNT after the Medcentrix medicaid fraud incident. We were posting it here. And still they dumped money into this.

Think about what IGNT was. A nasal cannula with a steel spring inserted in it.

Also, remember, Sand's dad was an employee and investor here too.

[Meatball40]

Do you get the feeling that Scott Sands has moved on and created a new bogus company to support his need for cash?

[stockmasterflash]

Giving a distributor a quote

on 5 year old cannulas just doesn't have the impact one would expect

[jjj373]

Agreed - as the modus operandi (aka MO) is the same. Creating the illusion of marketing, manufacturing and selling a product and thus producing revenue (income). My opinion is that it ain't happening.

[Meatball40]

I have a feeling that the Gary Tilden quotes are actually coming from the puppet master, Scott Sand.

[jjj373]

"submitted a quote" to an unidentified party. So what? Desperate people say and do desperate things and apparently there were no lessons learned here from what happened before.