Ingen Technologies Inc. Partners With Private Fund to Close ATMC Acquisition and Fund Business Expansion Program
February 07 2014 - 8:30AM
Marketwired
Ingen Technologies Inc. Partners With Private Fund to Close ATMC
Acquisition and Fund Business Expansion Program
RIVERSIDE, CA--(Marketwired - Feb 7, 2014) - 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."
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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