Ingen Technologies Inc. Holds Special Board Meeting
06 Março 2014 - 10:30AM
Marketwired
Ingen Technologies Inc. Holds Special Board Meeting
Wireless Telecom Division Holds a Promising Future
RIVERSIDE, CA--(Marketwired - Mar 6, 2014) - Ingen Technologies,
Inc. (PINKSHEETS: IGNT), announced today the results of a special
Board Meeting held on March 4, 2014.
Ingen's Board of Directors discussed the results of the initial
funding phase of its investment in the wireless business of ATMC,
Inc. and progress in attaining new routes in order to generate
bottom-line net profits for the company.
"Pursuant to executed agreements and initial funding on February
7, 2014, the Company and ATMC continue to move forward in a
positive direction as the process of testing the newly acquired
wireless telecom routes has demonstrated an increase in overall
usage. This is a very positive indication that revenues should
minimally remain steady and eventually increase as we anticipate
adding additional routes in the near future. Our funding
partner, JSJ Investments, Inc., has agreed to increase the line of
credit up to$2.5M as needed to acquire more of these routes,"
stated David S Hanson, CEO.
The funding recently allocated is opening new avenues for
ATMC. ATMC is actively working with many of its previous and
existing customers to continue the increase in traffic. "We
look forward to continued success within the telecom industry and
for our shareholders," added 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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