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
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www.ingen-tech.com
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.
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CONTACT: Ingen Technologies, Inc.
Jeff Morgan
909-790-7180
www.info@ingen-tech.com
