Ingen expects to realize about 1-2% of those markets within 24 months, which would result in a $10 million revenue stream during 2009 and 2010.
The company, recognizing the immediate economic advantages, has put together aggressive marketing opportunities that have resulted in the signing of these two distribution agreements, with others now being negotiated.
Thomas Neavitt, CFO of Ingen, said: “Oxyview is a major product in the $8 billion global respiratory markets. The company has strengthened its financial position in the past several weeks, which will increase production sufficiently to handle the recently secured contracts for the Middle East and Asia. The company is now evaluating European distribution.”