Ingen Technologies Inc (IGNT)

[tonyt]

IGTN Financials PR for Sept 19.

http://www.ingen-tech.com/press/detail.asp?ArticleID=63


Ingen Technologies Prepares to Move to OTCBB
-Increased Profits and Decreased Losses-



For Immediate Release:

Calimesa, CA – September 19, 2005 for 10:00AM EST - Ingen Technologies, Inc. (OTC: IGTN), a medical device manufacturer of OxyAlert™, OxyView™, Secure Balance™, and Pure ProduceTM, announces that the SEC Filings to become a reporting company and move to the OTCBB has commenced.

“The meeting this past Wednesday with the auditors, Spector & Wong, resulted in the completion of the audits and commencement with the SEC Filings and move to the OTCBB.” Said Thomas Neavitt, CFO and Corporate Secretary.

“IGTN is a start-up company with promising success. The purpose of this audit is not only to disclose the numeric results, but to indicate that we have completed a major milestone in moving forward with becoming a reporting company and moving to the OTCBB. I currently receive every week hundreds of shareholder emails complimenting Ingen’s success and the satisfaction they have with the results of their investment and direction the company is moving. It is unusual to find a newly formed public company with patented and proprietary products, earnings and profits in such a short time period. This is a great indication of strong growth and future shareholder value.” Said Scott Sand, CEO & Chairman.

The year ending May 31, 2004 resulted with sales of $901,542 and a gross profit of $410,509. The total net loss after taxes was ($357,601). Paid in capital was $4,783,471. There was $5,664,634 invested into Research & Development for Secure Balance™, OxyAlert™ and OxyView™. This investment resulted as a NOL (net operating loss) and/or Accumulated Deficit according to standard accounting principals. The NOL can be carried from one year to the other and used to offset taxes.

The year ending May 31, 2005 resulted with sales of $794,314 with a gross profit of $497,749. The total net loss after taxes was only ($11,113). Paid in capital was $4,890,671. There was $5,708,891 accumulated for invested into Research & Development for Secure Balance™, OxyAlert™ and OxyView™. This investment resulted as a NOL (net operating loss) and/or Accumulated Deficit according to standard accounting principals. The NOL can be carried from one year to the other and used to offset taxes.

To date, the company has $575,000 in cash reserves, with an increase in sales for the first quarter-2005.

“In summary, the company continues to show an increase in profits and margins, with a decrease in losses; and continues to move forward with the introduction of new medical products. We can expect to have a bonanza year in 2006 with the introduction of OxyView™ in the first quarter-2006, the introduction of OxyAlert in the second quarter-2006 and the increase in sales of our Secure Balance™ systems due to a smart and aggressive advertising campaign.” Said Chris Wirth, Director.

Attorney, Peter Wilke, is now compiling the audits and documentation for SEC filings, and will submit the documents to the SEC this month. Further, he will focus on moving IGTN to the OTCBB quickly and smoothly. The entire audit will be made available upon approval of the SEC filings via various trading websites and the SEC.

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™, a second-generation design of the Company’s BAFI™ 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™ 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™, 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™ 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™ 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®, Inc. in San Diego, California. The Secure Balance™ program provides equipment, education and training about balance and fall prevention to physicians and clinicians worldwide.

The Pure Produce™ product is a continuing research & development program currently under design. This program uses hydroponic and airoponic technology to grow various produce and other 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 continues to develop medical products for the ever-increasing elderly population. Our products offer cost-containment for Medicare costs, and are superior to any of our competition as 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. - Administrative Office
35193 Avenue "A", Suite-C
Yucaipa, California 92399
Phone: [phone] or [phone]
Fax: [phone] or [phone]
Email: [e-mail]
A Member of the Better Business Bureau
A Member of the Chamber of Commerce
A Licensed Business in the City of Yucaipa

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.

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