Ingen reports 1,200% increase in sales for fiscal 2010

Ingen Technologies, Inc. (Pink Sheets:IGNT), an emerging medical device manufacturer developing innovative solutions for the respiratory market, with a new patented and proprietary medical product line targeting the $8 billion respiratory market, today announced that its Annual Report has been filed with the OTC Markets, while auditors have completed and filed required restatements needed to return to "fully reporting" status.

The Annual Report confirms that Ingen has filed two additional patents to protect its intellectual property, including a foreign patent during 2010. In addition, the report indicates that the company successfully achieved ISO 13485:2003 Certification as a requirement to sell its products outside the USA. Other highlights in the report discuss the GSA filing and progress made with regards to government contracts in VA Hospitals and the Department of Defense.

Ingen reported a 1,200% increase in sales to $128,917, compared to $10,401 in 2009, and an 865% increase in gross profit to $83,314, compared to $9,631 in fiscal 2009. The company's assets increased 227% to $497,124, compared to $218,415 in fiscal 2009, while its debt owed to note holder(s) decreased 60% from $5,000,000 to $2,000,000 since fiscal 2009. Finally, cash reserves increased 635% to $268,551, compared to $42,272 in fiscal 2009.

The company's auditing firm, Anton & Chia LLP, has completed the auditing required for Ingen to move forward towards achieving "fully reporting" status. On October 29, 2009 (the "Engagement Date"), the Registrant engaged Anton & Chia, LLP ("A&C") as its independent registered public accounting firm for the Registrant's fiscal year ended May 31, 2009. The decision to engage A&C as the Registrant's independent registered public accounting firm was approved by the Registrant's Board of Directors. Anon & Chia have now begun working on the 10-QSB's ending August 31, 2009, November 30, 2009, and February 28, 2010, as well as will complete and file the 10-KSB ending May 31, 2010.

"Ingen is diligently working to achieve rapid sales growth in both the U.S. and abroad, while balance sheet improvements give us the flexibility needed to truly unlock value for our shareholders," said Ingen Technologies, Inc. CEO Scott Sand. "Our initial government sales contract can be signed later this month, as we reach for the $1.4 million available through various government facilities for the remaining of this year. In addition, we continue pushing towards becoming a fully reporting, uplisted company by the end of this year."

Source Ingen Technologies, Inc.