IGNT Ingen technologies this year has PR'd two $100,000 sales to Medox corporation. This is nearly ALL of Ingen's sales.
Medox has received nearly $500,000 in payments from Ingen and has received 500 million out of Ingen's 3 Billion shares of stock
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ITEM IV - MANAGEMENT’S DISCUSSION
RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED AUGUST 31, 2009
COMPARED TO THE THREE MONTHS ENDED AUGUST 31, 2008
We reported gross sales of $106,483 in the quarter ended August 31, 2009. This represented an
increase from sales of $987 in the quarter ended August 31, 2008. This increase was primarily the
result of one sale of 40,000 for $100,000. Our sales were further sparked by the introduction of
an “all-in-one” Oxyview Nasal Cannula unit that includes a cannula with our Oxyview unit.
Additional capital also enabled us to increase our advertising and marketing of our Oxyview
products. We anticipate that our sales of Oxyview will increase from the current quarter’s sales
as we expand sales channels. Of our sales in the current quarter, $100,000 of sales were from one
customer, Medox Corporation, with whom we have entered into other transactions, including
sales of Series A preferred stock to both Medox and its President. We had also previously issued
to Medox convertible debentures on June 1, 2004 for $225,000, March 15, 2007 for $200,000,
September 1, 2008 for $225,000 and on September 1, 2009 for $300,000 in consideration for
services rendered to the Company in assisting with its sales and marketing of Oxyview. The
former two notes were converted into common stock and paid in full in 2009 (the Company has
issued 515,040,412 shares of its common stock to retire these obligations). As of December 15,
2009, Mr. Gleckman directly or indirectly (through Medox Corporation) owned 80,008,851
shares of our common stock (2.66% of the outstanding shares of common stock) and 2,500,00
shares of our Series A preferred stock (2.55% of the outstanding shares of preferred stock). |
