RIVERSIDE, Calif., Nov. 24, 2013 (GLOBE NEWSWIRE) -- -- 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 --
Ingen Technologies Inc. (OTC: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 telecom business providing services to major telecom companies worldwide, announces 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.
There continues to be promise in Ingen's patented Oxyview and Smart Nasal Cannula with the Department of Homeland Security as Ingen's medical device manufacturing division received a purchase order of 100 Oxyview Units for the US Coast Guard.
Recently the company announced the purchase order received with the Department of Interior's Naval Air Forces Atlantic Division of the US Military for the USS George Washington nuclear powered aircraft carrier that recently was appointed to the Super Typhoon Haiyan. US helicopters carrying emergency food supplies made their approach, the message reflected the desperation of the villagers 10 days after Typhoon Haiyan slammed into the central Philippines. The helicopter was one of many that have been flying continual sorties off the USS George Washington aircraft carrier since it arrived to spearhead a growing international relief operation.
"We are very slow coming out of the gate on the medical product side of our business, but recently there continues to be serious interest from the Department of Interior and Department of Homeland Security to continue to purchase and utilize our medical products. The technology is proprietary and has benefits in the respiratory sector. These benefits include better patient care, product durability, reliability, increased accuracy and low cost to the consumer. Our immediate focus with the company is to continue decreasing debts and convertible notes as we minimize share dilution on the way back to being fully reporting with OTC. Our plans are to buy back shares, increase share price and shareholder equity. We anticipate a stock holder dividend program in the future as we continue to head in this direction of growth," stated Gary 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.