Ingen Accounting for Profits From Telecom Wireless Division
June 17 2014 - 10:14AM
Marketwired
Ingen Accounting for Profits From Telecom Wireless Division
Statement From the CEO
RIVERSIDE, CA--(Marketwired - Jun 17, 2014) - Ingen Technologies
Inc. (PINKSHEETS: IGNT) announced today that its new telecom
division is showing profits after several months testing.
"I am pleased to report that in 2013, Ingen commenced the final
phase of the acquisition of ATMC and its wireless telecom business,
as well as secured the funding partner to provide the cash required
for future acquisitions. To date, after months of project
coordination and with the proper funding, the company will be able
to account for profits and look forward at closing the
acquisition," commented David Hanson, CEO of Ingen.
"This performance is a testament to our strategic position and
capabilities, the discipline of our management systems, and the
acceptance of our products and services. Importantly, it
reflects the impact of a distinct choice we have made about Ingen's
business and marketing model."
"This is not the only path to success in our industry, and
definitely not the easiest one. This has been a very
challenging year for Ingen in terms of change and growth. The
company has been able to resolve debt issues, back due taxes, and
has established a funding partner; while continuing to demonstrate
growth in revenues."
"As a Board, we are always mindful of the duties we owe to the
Company's shareholders and key stakeholders to ensure the Company
has the right people, systems and processes in place to manage risk
and deliver the Group's agreed strategy. As Ingen's business
objectives continue to progress, this is even more
important. As CEO, I am responsible for ensuring that the
company operates effectively with well-informed directors asking
the right questions and setting the right tone from the
top. Ingen is working hard to achieve its goals with
increasing value and equity for all of our shareholders."
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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