SOURCE: Ingen Technologies, Inc.

Ingen Technologies, Inc.

April 08, 2014 08:30 ET

Ingen Chairman Discusses Positive Growth in Medical and Telecom Divisions

2014 to Be a Stellar Year for Ingen Technologies

RIVERSIDE, CA--(Marketwired - Apr 8, 2014) - Ingen Technologies Inc's. (PINKSHEETS: IGNT) Chairman of the Board announced that 2014 should be a stellar year for Ingen with its near-closure of the acquisition of ATMC's wireless telecom business, and the new events leading to an increase in sales of its medical division.

Gary B. Tilden, Chairman stated, "As a Board, we are always mindful of the duties we owe to the Company's shareholders and key stakeholders to ensure the Company has the right people, systems and processes in place to manage risk and deliver the Group's agreed strategy. As the ATMC wireless business transformation continues to progress, this becomes even more important. As Chairman, I am responsible for ensuring that the Board operates effectively with well-informed directors asking the right questions and setting the right tone from the top."

"Ingen has a strategic funding partner that has financed the initial phase of the wireless division, which should result in the final closure of the acquisition along with, inheriting revenues that are being generated through the funding. The funding partner has agreed to fund up to $2.5 million to produce new telecom routes in order to expand and increase profitability for Ingen. The most current reports indicate that profits are now being generated, and the annual filing ending May 31, 2014 will include the new revenues and profits to be reported."

"Ingen has also seen a recent increase in product sales activities within its medical division. There are products being prepared for shipping, and revenues will continue to be generated for the Oxyview product line. Ingen's Board, however, has decided to consider selling the division in order to focus on the wireless telecom business and future acquisitions within the telecom industry. There are currently two interested parties in acquiring our medical division and the company will eventually make a decision through an announcement, when it makes that decision. The funds received from the acquisition will likely be used to purchase a west coast wireless telecom business that the company's CEO is currently negotiating. This spin-off should allow Ingen to dig-in its heels in the wireless industry in a big way in order to continue to develop shareholder equity and eventually a dividend program."

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.

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