IGTN PR....Ingen Technologies Audits Are Complete
- SEC Filing is Expected This Month -
Sep 14, 2005 9:45:00 AM
CALIMESA, Calif., Sept. 14 /PRNewswire-FirstCall/ -- Ingen Technologies, Inc. (OTC: IGTN), a medical device manufacturer of OxyAlert(TM), OxyView(TM), and Secure Balance(TM), and also a developer of Pure Produce(TM), announces that the Company was informed by Spector & Wong, LLP that the audits are complete and ready for filing.
Harold Spector, CPA and Principal of Spector & Wong, LLP has informed the Company that he would be delivering the financial audits on Wednesday, September 14, 2005. "The completion of the audits are a valuable step forward to becoming a reporting company with the SEC and making our way to the OTCBB. I look forward to meeting with Mr. Spector on Wednesday to receive the audits and to further discuss the ongoing requirements for our quarterly reporting." Said Scott Sand, CEO & Chairman.
The financial audits will be published early next week. In addition, attorney Peter J. Wilke will complete the due diligence and submit the documentation required by the SEC for filing. He has committed to submit the necessary filings in September. Upon approval, the Company financial data will be available through various trading websites and the SEC. Mr. Wilke has stated to take an aggressive action to move IGTN on to the OTCBB.
Upon unanimous vote, the Board of Directors have agreed and signed the Resolution to remove Mr. Chris Evans from the Board of Directors. This action is effective immediately.
About Ingen Technologies, Inc.
Ingen Technologies, Inc. is a public company trading under Nasdaq OTC: IGTN, which has been in business since 1999. IGTN is a medical device manufacturer and a growth-oriented company that owns US patent(s), trademarks, and proprietary medical products.
The Company's flagship product is OxyAlert(TM), a second-generation design of the Company's BAFI(TM) product line. Both of these products have been issued two US Patents: Patent No. 6,137,417 issued on October 24, 2000 and Patent No. 6,326,896 issued on December 4, 2001. Both of these products are low-oxygen safety warning devices used on remote oxygen cylinders for patients, commercial aircraft, military transport, and fire and safety equipment. OxyAlert(TM) technology encompasses the use of digital sensing and RF frequency transfer so that care givers can access a hand-held remote to monitor the actual oxygen level of any oxygen cylinder at a reasonable distance.
The newest product, OxyView(TM), has a patent pending, and is a pneumatic gauge that provides visual safety warning of oxygen flow to hospitalized patients. This product enhances the safety, assurance and accuracy of hospitalized patients being administered oxygen from any source. OxyView(TM) is a lightweight pneumatic gauge that is attached to the oxygen tubing just below the neck. It informs the nursing staff of oxygen flow rate near the patient. It could quickly inform the hospital staff of any leak or inaccuracy between the delivery source and the patient.
The Secure Balance(TM) product is a private-label product that includes a vestibular function testing system and balance therapy system. The vestibular function testing system is manufactured by Interacoustics LTD. in Denmark and is referred to as the VNG. The balance therapy system is manufactured by SportKAT(R), Inc. in San Diego, California. The Secure Balance(TM) program provides equipment, education and training about balance and fall prevention to physicians and clinicians worldwide.
The Pure Produce(TM) product is a continuing research & development program currently under design. This program uses hydroponics technology to grow various plants without the use of soil, fertilizer and water consumption. The Company anticipates entering the nutriceutical and pharmaceutical markets over the next two years.
"Our team of professionals has developed our medical products for the ever-increasing elderly population. Our products are superior to any of our competition and they allow for effective medical product availability to seniors, and at the same time the increasing senior population allows for a steady growth in sales and profits," said Scott Sand, CEO & Chairman of Ingen Technologies.
For more information, visit 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
scottsand@ingen-tech.com
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.
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Scott R. Sand
C.E.O & Chairman of Ingen Technologies
Inc.
+1-800-259-9622 or +1-951-675-3266
or fax
+1-800-777-1186
scottsand@ingen-tech.com
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