Here's the full message as posted on IHub IGTN board. This is interesting as it details issues re revenues that have been raised by bashers.
Posted by: bigarow
In reply to: None Date: 9/21/2005 8:58:24 AM
Post # of 2092
READ THIS FROM MR. SANDS!
From a RB poster!
I sent Scott an email last night asking him about what I felt was the discrepancy between the 2005 numbers alluded to in a June press release (700k in the first two quarters) and the numbers recently reported (less than that) for the entire year of 2005. In other words, I was concerned that we as investors had somehow been misled. Here is his very prompt response and I would highly recommend that all concerned investors read it at once. This guy and his company are for real, people. If you're nervous, just chill. The PPS WILL rebound. If it goes down further, just pick up more shares. This is a temporary situation and if you have the guts and foresight to take advantage of this manipulated panic then you will thank yourself later! Anyway, here's what SCOTT WRITES THIS MORNING...
Stephen,
Income is based on Secure Balance orders. Please see attached sample sheet "quote". We have accepted orders, however some hospitals and medical facilities have signed invoices with delivery schedules into next year, as they are building special facilities for the equipment. we cannot accept advanced payment for a $53,000 medical diagnostic system until delivery is accepted. This is very standard in the medical equipment industry. For example, Siemens or GE Medical will sell MRI systems and carry the invoices for 2 years until delivery is met !
My advice is to stay away from any "message boards"; as they are used as bait by various day-traders and market makers who make money on naked shorting of the stock.
I have NO control over the direction of the stock. However, the above day-traders can create emotional reaction and cause shareholders to sell their positions.
Let's dissect this situation:
1. Ingen Technologies commences business in 1999 as a PRIVATE company, incorporated in Nevada, after thorough research on OxyAlert and OxyView. We invest well over several million dollars to actually build and place over 200 production models of OxyAlert (formerly known as BAFI). Inclusive of extensive research, patent searches and patents.
2. Spector & Wong (Auditors) keep very accurate records of all financial activity (Filing all tax returns with State and Federal Agencies from 1999 through the current), and the management continue to invest their own money towards R&D and operational expenses.
3. In 2002, Ingen decides to create Secure Balance, as a means to increase actual sales and earnings in order to "think ahead", and continue to feed R&D and operational expenses. Again, the management INVEST their own money and launch a national sales campaign with Secure Balance. There are sales in 2002, 2003, 2004 and 2005.
4. In 2004, Ingen decides to go PUBLIC, and merges with a public shell (Creative Recycling Technologies, Inc. - OTC:CRTZ, a Public Georgia Corporation). The merger requires that Ingen pays off various debts associated with CRTZ in the amount of $277,000. AGAIN, the management pay off the debts with their own money, thus keep tangible assets and earnings untouched for the sake of stronger financials for SEC Filing. In addition, after the debts are paid off, CRTZ now owns 100% of Ingen Technologies, Inc. (the Nevada Corp), and management approves to rename CRTZ to IGTN, and also rename the Georgia Corp to Ingen Technologies, Inc.
5. In 2005, IGTN, now a public company OTC:IGTN:PK engages Spector & Wong to perform the audits, engages attorney Richard Weed as council to assist with the corporation reorganization, and engages attorney Peter J. Wilke to perform the SEC filings, and move to the OTCBB.
6. During this process, the Company continues to provide up-to-date news to shareholders and investors. The PR's include exact information (as received by the auditors and legal council) so as the investor and/or shareholder can actually verify the same, easily.
7. In 2005, Ingen completes the audits; showing increased profits and no debt. (2005 was lower in revenues than 2004, but profits were higher in 2005 !!!).
In summary, IGTN and its' Management have delivered a "Profitable" company with proprietary patented medical products (with management investing their personal money); as well as invested over $150,000 in accounting/legal costs for SEC filings and continues to move forward in SEC Filings and move to the OTC:BB.
I, personally, do not pay any attention to "message boards", nor do I watch the stock from a day-to-day basis. You should consider that very few PINK SHEET companies are in our position, nor do they offer such frequent news to its' audience. The day-traders, market makers and shorter's are paid to twist, distort and take out of context any/all published news. Further, if you called the auditors, lawyers, advertising agencies, Investor Relations Firms, and many other entities engaged by IGTN of which we have published their names, address and telephone numbers, you would find that the naked-shorters (i.e., the predators on the message boards who continue to scare everyone with deceit) will be out of business very soon; as you will find that Mr. Pete Wilke will submit the SEC Filings within the next 2 weeks. IGTN will be a REPORTING company soon, and this will force the "shorter's" to cover their positions. IGTN will be on the OTC:BB very soon, and within the next 2 years we should be listed and trading well over $5 per share.
If you are in this for the short term, I sympathize.
PLEASE POST THIS, AS I STAND STRONG AND CONFIDENT !
Regards,
Scott Sand, CEO & Chairman
Ingen Technologies, Inc.
ScottSand@Ingen-Tech.Com
www.ingen-tech.com
800-259-9622 Sales & Support
800-777-1186 FAX
951-675-3266 Administrative
Ingen Technologies, Inc. is a Public Company
NASDAQ OTC:IGTN
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