Ingen's Telecom Division Ramps Up Revenues After Successful Testing
26 March 2014 - 2:04AM
Marketwired
Ingen's Telecom Division Ramps Up Revenues After Successful Testing
RIVERSIDE, CA--(Marketwired - Mar 25, 2014) - 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.
CONTACT: Gary Tilden Chairman 951-688-7840
www.ingen-tech.com
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