RIVERSIDE, CA -- (Marketwired) -- 02/07/14 -- Ingen Technologies, Inc. (PINKSHEETS: IGNT) today announced a funding partnership with JSJ Investments. JSJ is a privately held boutique investment firm specializing in the structuring and provision of capital to small and developing OTCQB/QX and PINK sheet companies. JSJ is uniquely positioned to fund long-term growth strategies through a variety of funding arrangements.
JSJ has committed up to $2,500,000 in funding agreements with ATMC and Ingen, whereby funds are being allocated for lines of credit to purchase wireless telecom routes. Ingen will partially utilize the funding to make the final $75,000 payment for the ATMC acquisition, in addition to securing auditing costs to help bring Ingen to a current status and a fully reporting company with the SEC. Additional funds will also be used to pay for other administrative financial obligations.
On April 29, 2013, the Registrant and its Board of Directors, and majority shareholders adopted the PURCHASE and AGREEMENT OF ACQUISITION of ATMC Inc., an Inter-Exchange Carrier licensed by the FCC for Domestic and International Telecommunications services, providing voice services serving Domestic and International Public and Private Telephone Companies. ATMC began business in 1989 and continues to provide services in the changing digital communication industry.
JSJ's relationship with Ingen's business will allow ATMC and Ingen to finalize the acquisition, and position the company with increased revenues. David Hanson, CEO stated, "One of the many advantages of our partnership with JSJ is that Ingen will be able to effectively move forward in several directions at once, thus aligning with better liquidity and protecting our shareholders. It is my job to resolve inherent problems, inclusive of DTCC clearing issues, judgments, and SEC reporting obligations that currently plague Ingen. My goal is to resolve these issues as quickly and efficiently as possible."
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