YUCAIPA, Calif., Nov. 10, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), a leading global Medical Device Manufacturer focused on the $4B Respiratory market with their Oxyview products for the growing aging population and emerging markets for Home (DME), Hospital and Aviation industries, announced today that the company has engaged CDM Capital, LLC to assist with the internal financial reporting and controls as they are related to the most current SEC reporting obligations. In addition to this news, CEO Scott Sand will discuss why the company is focused on its investor needs later today, November 10, 2009 at 11:34AM eastern standard time on The Money Channel's American Scene Radio with host Steve Crowley.
The Newport Beach-California based CDM Capital LLC offers a wide range of pre and post public entity support services in areas such as structuring, capitalization, public relations, investor relations, financial reporting, compliance, market support and exit strategies. The firm provides additional services related to increasing the valuation, and access the U.S. capital markets by listing it as an Over-the-Counter (OTC) publicly traded company.
Specifically, the company and CDM Capital have engaged in a two month contract where CDM shall render financial consulting services to Ingen in matters relating to the restatement, as necessary, of Ingen's financials for the year ended May 31, 2007 and May 31, 2008, working with Ingen's accounting department, outside service providers, and its auditor to prepare and submit the delinquent SEC Reports (Form 10-Q for the period ended November 30, 2008, Form 10-Q for the period ended February 28, 2009, Form 10-K for the year ended May 31, 2009, and Form 10-Q for the period ended August 31, 2009) and prepare reports and financial statements for posting on www.pinksheets.com.
"The company is focused on finalizing the SEC filings and the reports required with the OTC Pinks. The new auditors and CDM Capital have reviewed the events with our previous auditors and are comfortable with preparing the filings that are required. The company has heavily invested in improving its SEC reporting for its shareholders, investors and future shareholders. We will also consider extending CDM Capital's services to include working with our investment banking group, Pacific Pearl Group, with increasing the company's valuation. Keep in mind that there are several opportunities for an acquisition of Ingen by other candidates currently in discussions with Pacific Pearl Group. Part of increasing shareholder value by improving our financial team of experts and moving to the OTC-Bulletin Board," stated Scott R. Sand, Chief Executive Officer and Chairman of the Board.
http://www.cdmcap.com/services.html
About Ingen: Ingen is an established medical device manufacturer with an emerging new medical product line for the respiratory market worth an estimated $4 Billion in the U.S., and $8 billion globally. The company introduced Oxyview into the respiratory market in late 2007 after securing U.S. and Foreign Patents and successful licensing with the Food & Drug Administration, and has commenced domestic and global distribution with manufacture representative organizations, and OEM partners. In 2009, the company introduced the new Oxyview Nasal Cannula for adult, children and infants. In addition to selling its respiratory products within the global medical industry, the company is selling the same products within other industries that include aviation, automotive, emergency response, military and government transportation. The company holds a Device Manufacturing License with the State of California, Department of Public Health, Food and Drug Branch as it manufacturers all of its respiratory products in the United States. There are 32 million U.S. patients with Chronic Obstructive Pulmonary Disease (COPD), and 600 million patients worldwide. Ingen Technologies is now the largest manufacturer of in-line gravity-independent oxygen flow meters.
The Ingen Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2472
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.