RIVERSIDE, CA -- (Marketwired) -- 03/25/14 -- Ingen Technologies' Inc. (PINKSHEETS: IGNT) telecom division, ATMC, has begun generating additional revenues for the Company after a series of new route testing of its wireless telecom contracts. This materialized due to the first phase of funding Ingen received through JSJ Investments.
According to the Company, ATMC has shown a successful growth pattern in revenues since these contracts were initiated. During this initial time frame, ATMC has been offered routes to the following countries including: Gambia, Uganda, Cameron, St. Vincent, Honduras, Nepal, St. Barts, Bolivia, Guatemala, Pakistan, Zimbabwe, Zambia, and Bangladesh. Each of these routes have continuously been technologically proven for viability before traffic usage. ATMC has integrated the software enabling the switch to verify consistency in IP codes and usage. Revenues are already currently being generated on some of these routes with anticipated growth in the near future. These revenues will be reported in Ingen's next quarterly filing.
"We have put an amazing amount of effort into ATMC in a very short period of time and have made substantial progress to date," stated David Hanson, CEO. "It's only been a few months since Ingen announced its funding partner which has lead the company into the wireless industry which, in turn, has strengthened Ingen's balance sheet and greatly improved shareholder equity. My experience in the wireless technology industry has proven to be instrumental in spearheading the company's efforts in telecommunications."
"As we have previously reported, Ingen is also talking with various companies interested in purchasing its medical division of proprietary respiratory products. This would provide the means for Ingen's expansion into future wireless acquisitions."
"The medical division has been a special challenge for me, since we not only have had interest from larger medical manufacturers to acquire this division, but also because of the recent interest in bulk orders of our Oxyview products. Our decision to spin-off or keep the medical division will be based on the resulting values of each of the transactions. Whatever we decide to do will result in additional cash reserves to Ingen in order to continue to grow and strengthen its financial position," concluded Mr. Hanson.
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.