Ingen Technologies from a Buyout Prospective
Ingen Technologies, Inc. (IGNT) hired an investment bank for evaluation of all bids and acquisition proposals, while extinguishing all of its debts ahead of schedule.
Ingen Technologies, Inc. [[IGNT.PK]], a leading medical device manufacturer focused in the $8 billion respiratory markets, announced that it hired Pacific Pearl Group for evaluation of all bids and acquisition proposals. The company is also ahead of schedule in decreasing most of its debts before the end of this quarter, while focusing on profitability before the first quarter in August.
Ingen Technologies believes that the true value of the company lies in the intellectual property, public foundation and growing respiratory global markets. The $8 billion respiratory market, of which $4 billion may provide market applications for the company’s Oxyview, with the physician market continuing to have a growing interest in providing Oxyview units to patients.
Meanwhile, Ingen Technologies’ 10KSB filing with the SEC outlines its patent portfolio:
The company’s patent attorney has represented all of the US and Foreign Patents, and Trademarks for all of the company’s products since 2000. The first US Patent for OxyAlert(R) (formerly named BAFI(R)) was issued on October 24, 2000, US Patent no. 6,137,417 and expires May 24, 2019. A second US Patent was issued for OxyAlert(R) on December 4, 2001 and expires October 24, 2020, US Patent no. 6,326,896. Concurrently, the company received registered trademarks for BAFI(R) on November 21, 2000 registration no. 2,406,214, and for OxyAlert(R) on April 4, 2006, registration no. 3,076,716. In connection with the OxyAlert(R) trademark, the company received the registered trademark for GasAlert(R) on April 11, 2006, registration no. 3,079,488. The Oxyview(R) trademark was registered on May 20, 2008, registration no. 3,433,217. US patents for Oxyview(R) were filed June 16, 2006, pending serial no. 78-886168. Foreign patents for Oxyview(R) were filed in Japan, People’s Republic of China and the European Communities; reference Japanese Patent Application no. 2006-331151, People’s Republic of China Patent Application no. 200710005067.4, and European Patent Application no. 06,122,455.6. The Secure Balance(R) trademark was recently approved and published by the US Patents and Trademarks Office, no. 77-405551.
Ingen Technology also runs a public foundation called the National Home Oxygen Patients Association, www.homeoxygen.org, which helps inform the more than one million supplementary oxygen users in the United States. The organization remains relatively small, but continues to grow as it becomes better known throughout the pulmonary community.
From a financial prospective, Ingen Technologies saw revenues of $987 during the third quarter of 2008. However, SG&A and derivative liabilities led to a net loss of over $1.9 million, or $2.60 per share. Meanwhile, liabilities of $5.8 million outpaced assets of just $804,706. However, the company noted that it plans to extinguish its debts and work towards profitability.
In the end, Ingen Technologies has many assets that a potential buyer may be interested in obtaining, including its patent portfolio and public foundation. However, a lack of recent financial statements makes it hard for investors to come up with an estimated valuation. As a result, investors will have to just wait and see how much the bids turn out being.
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