(Pink Sheets: IGNT.PK) is a medical device manufacturer that develops medical respiratory and medical diagnostic technologies and products. Meanwhile, paying down debt “puts us on a growth path,” Sand said. Ingen, which went public in 2004, has 10 employees and uses 60 contractors. He said Yucaipa is helping the company consider a 20-acre site for the company’s possible expansion. The company is introducing a new product in April, but Sands wouldn’t comment on it. Companies – sometimes desperate – use a reverse split to increase the share price of their stock in hopes of attracting more investors. Sand also said rumors of a reverse stock split aren’t true. Moving from the OTC Bulletin Board to the American Stock Exchange is still another main goal, he said. “The idea is to have no debt six months from now and a higher share price with higher revenues,” Sand said. The product has huge potential in the export market, but the company is trying to pay down relatively large debts.Ī news release last week says Ingen has slashed its debt with a key creditor from $4.5 million to $2.2 million over the past five months. The product is a respiratory device that utilizes gas flow-meter technology to deliver supplemental oxygen to hospital patients. Ingen, based in Yucaipa, hopes to be selling its core product, Oxyview Nasal Cannula, in foreign countries by March – a first for the company. “But what you can control is making sure you’re still on your critical path.” By this time next year, Ingen Technologies Inc.’s leader is hopeful the company will be moving to a large facility and hiring more than 150 workers.īut big ideas face huge challenges for penny-stock companies like Ingen.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |