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$$$IGEN is reporting a net income and profit for the first time since company inception.
Turn around opportunety!!!
$$$IGEN is reporting a net income and profit for the first time since company inception.
Turn around opportunety!!!
Linkedin and igen home page under inveszors
Turn around
IGEN announces Net Profit for Second Quarter 2022
“Positioned for continued growth across consumer and commercial brands”
Lake Elsinore, CA – August 5, 2022 – IGEN Networks Corporation (OTC: IGEN, CSE: IGN), a leading innovator of Internet of Things (IoT) solutions for the consumer automotive and commercial fleet industries, today announced unaudited financial results for its second quarter ended June 30, 2022:
Second Quarter Financials and Recent Accomplishments:
As of June 30, 2022, the Company had total current assets of $252,227, a 45% increase from December 31, 2021.
Achieved recognized revenues of $91,976 compared to $82,998 from the prior year second quarter period
Grew total gross deferred revenue to $310,568 representing cash received and revenue to be recognized in future reporting periods
Gain on settlement of debt of $271,935
Net income of $10,582 compared to ($325,937) net loss from the prior year second quarter period
Expanded the subscriber base by 1680 new asset activations across consumer and commercial brands
Expanded Intellectual Property Portfolio for normalizing “big data” elements for the reduction of insurance rating-errors
Secured 11 new franchise and pre-owned dealerships located in 5 states with approximately 2000 vehicles under Nimbo Tracking inventory management services
Launched the CU Track program with Michigan Credit Union League Service Corporation in the Upper Peninsula region
Awarded exclusive contracts to provide Medallion GPS Fleet Services to New York State Counties
CEO Neil G. Chan stated, “IGEN is reporting a net income and profit for the first time since company inception. We are particularly excited with our new sales channels, partnerships, and patent portfolio created over the last several years. The development of the most cost efficient and scalable platforms in the industry has enabled the company to achieve profitability and improve our balance sheet in 2022. Our pipeline for the second half looks promising as our recurring and new business revenues will continue to drive growth for both the consumer and commercial IoT markets.”
Turn Around
IGEN announces Net Profit for Second Quarter 2022
“Positioned for continued growth across consumer and commercial brands”
Lake Elsinore, CA – August 5, 2022 – IGEN Networks Corporation (OTC: IGEN, CSE: IGN), a leading innovator of Internet of Things (IoT) solutions for the consumer automotive and commercial fleet industries, today announced unaudited financial results for its second quarter ended June 30, 2022:
Second Quarter Financials and Recent Accomplishments:
As of June 30, 2022, the Company had total current assets of $252,227, a 45% increase from December 31, 2021.
Achieved recognized revenues of $91,976 compared to $82,998 from the prior year second quarter period
Grew total gross deferred revenue to $310,568 representing cash received and revenue to be recognized in future reporting periods
Gain on settlement of debt of $271,935
Net income of $10,582 compared to ($325,937) net loss from the prior year second quarter period
Expanded the subscriber base by 1680 new asset activations across consumer and commercial brands
Expanded Intellectual Property Portfolio for normalizing “big data” elements for the reduction of insurance rating-errors
Secured 11 new franchise and pre-owned dealerships located in 5 states with approximately 2000 vehicles under Nimbo Tracking inventory management services
Launched the CU Track program with Michigan Credit Union League Service Corporation in the Upper Peninsula region
Awarded exclusive contracts to provide Medallion GPS Fleet Services to New York State Counties
CEO Neil G. Chan stated, “IGEN is reporting a net income and profit for the first time since company inception. We are particularly excited with our new sales channels, partnerships, and patent portfolio created over the last several years. The development of the most cost efficient and scalable platforms in the industry has enabled the company to achieve profitability and improve our balance sheet in 2022. Our pipeline for the second half looks promising as our recurring and new business revenues will continue to drive growth for both the consumer and commercial IoT markets.”
Turn around!
IGEN announces Net Profit for Second Quarter 2022
“Positioned for continued growth across consumer and commercial brands”
Lake Elsinore, CA – August 5, 2022 – IGEN Networks Corporation (OTC: IGEN, CSE: IGN), a leading innovator of Internet of Things (IoT) solutions for the consumer automotive and commercial fleet industries, today announced unaudited financial results for its second quarter ended June 30, 2022:
Second Quarter Financials and Recent Accomplishments:
As of June 30, 2022, the Company had total current assets of $252,227, a 45% increase from December 31, 2021.
Achieved recognized revenues of $91,976 compared to $82,998 from the prior year second quarter period
Grew total gross deferred revenue to $310,568 representing cash received and revenue to be recognized in future reporting periods
Gain on settlement of debt of $271,935
Net income of $10,582 compared to ($325,937) net loss from the prior year second quarter period
Expanded the subscriber base by 1680 new asset activations across consumer and commercial brands
Expanded Intellectual Property Portfolio for normalizing “big data” elements for the reduction of insurance rating-errors
Secured 11 new franchise and pre-owned dealerships located in 5 states with approximately 2000 vehicles under Nimbo Tracking inventory management services
Launched the CU Track program with Michigan Credit Union League Service Corporation in the Upper Peninsula region
Awarded exclusive contracts to provide Medallion GPS Fleet Services to New York State Counties
CEO Neil G. Chan stated, “IGEN is reporting a net income and profit for the first time since company inception. We are particularly excited with our new sales channels, partnerships, and patent portfolio created over the last several years. The development of the most cost efficient and scalable platforms in the industry has enabled the company to achieve profitability and improve our balance sheet in 2022. Our pipeline for the second half looks promising as our recurring and new business revenues will continue to drive growth for both the consumer and commercial IoT markets.”
IGEN announces Net Profit for Second Quarter 2022
“Positioned for continued growth across consumer and commercial brands”
Lake Elsinore, CA – August 5, 2022 – IGEN Networks Corporation (OTC: IGEN, CSE: IGN), a leading innovator of Internet of Things (IoT) solutions for the consumer automotive and commercial fleet industries, today announced unaudited financial results for its second quarter ended June 30, 2022:
Second Quarter Financials and Recent Accomplishments:
As of June 30, 2022, the Company had total current assets of $252,227, a 45% increase from December 31, 2021.
Achieved recognized revenues of $91,976 compared to $82,998 from the prior year second quarter period
Grew total gross deferred revenue to $310,568 representing cash received and revenue to be recognized in future reporting periods
Gain on settlement of debt of $271,935
Net income of $10,582 compared to ($325,937) net loss from the prior year second quarter period
Expanded the subscriber base by 1680 new asset activations across consumer and commercial brands
Expanded Intellectual Property Portfolio for normalizing “big data” elements for the reduction of insurance rating-errors
Secured 11 new franchise and pre-owned dealerships located in 5 states with approximately 2000 vehicles under Nimbo Tracking inventory management services
Launched the CU Track program with Michigan Credit Union League Service Corporation in the Upper Peninsula region
Awarded exclusive contracts to provide Medallion GPS Fleet Services to New York State Counties
CEO Neil G. Chan stated, “IGEN is reporting a net income and profit for the first time since company inception. We are particularly excited with our new sales channels, partnerships, and patent portfolio created over the last several years. The development of the most cost efficient and scalable platforms in the industry has enabled the company to achieve profitability and improve our balance sheet in 2022. Our pipeline for the second half looks promising as our recurring and new business revenues will continue to drive growth for both the consumer and commercial IoT markets.”
About IGEN Networks Corporation
IGEN Networks Corporation creates software services for the consumer automotive and commercial asset management industries enabling their customers to better manage their assets and protect their drivers. IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTC Markets under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information, please visit: www.igennetworks.net
What do you know what we do not know? A hint?
Out of ammo. I remember you bust it through 0.01 once.
I doubt it as CFGN as MM is gone. He is the diluting MM.
Defective Links on IGEN´s home page are repaired. No more left I think. Good.
L2 line up incl. depth please. Tia
Diluter took the chance when slightly up
Thanks
Nothing found so far on the augmented patent. Anyone els was successfull? TIA
No questin improvements are made but we can't put times when revenues will be generated behind the improvements and thats the problem here. In my opinion.
The share price will not stay in the region of 0.003 when they dilute the whole 200. We can not hold it by now with just 39 million diluted.
Thanks kayak
Follow the link in the updated posting
Sad ticker
L2 line up anyone please?
Bottom is just dependent from the grade of dilution these days.
Even if someone did no one will get any kind of response
Call out a bottom here is heavy and dependent from the amount tgey further dilute.
Dilution at 0.0026. Really?
You are welcome. I think so.
roughly 21 million shares were diluted last week. 21 million is almost 50% of the volume we saw last week. This would mean 67000US at an average price of 0.0032. But S1 states 88%. This means about 60000US. Hope this lasts a bit.
Last day of Q2 where the asessment of various patent infringements should be finished according to last Form 7.
Todays trading looks like dilution
Interesting is the following.
"...area of Artificial Intelligence (AI), in-particular as it pertains to electric vehicles (EV)..."
Tesla?
NEWS! GEN's CEO provides mid-year progress update for 2022
"Growth and market leadership across consumer and commercial brands"
Lake Elsinore, CA -- June 29, 2022 -- InvestorsHub Newswire -- IGEN Networks Corporation (OTC: IGEN, CSE: IGN), a leading innovator of Internet of Things (IoT) solutions for the consumer automotive and commercial fleet industries, today provides a mid-year progress update on key initiatives and opportunities for growth:
Intellectual Property Portfolio
IGEN's intellectual property portfolio will focus on normalizing the "big data" elements that influence driving habits along with correcting gross errors in assessing driver performance and driver behavior. Reducing what the insurance industry refers to as "rating-errors" is the single biggest opportunity for insurance companies. With an estimated $8B of annual rating-errors attributed to not understanding driver behavior, IGEN is positioned as a disruptive force in establishing actuarial metrics for the insurance industry along with providing a safer environment for drivers and their families. Key initiatives for IGEN for 2022 will be to strengthen its patent portfolio in the area of Artificial Intelligence (AI), in-particular as it pertains to electric vehicles (EV) and their inherent ability to collect data from a broad-range of external sources.
Consumer Product Brands and Markets
IGEN's consumer brands Nimbo Tracking, CU Trak, and FamilyShield have seen significant growth and channel expansion during the first six months of 2022. Nimbo Tracking sold through automotive dealerships and CU Trak marketed through Credit Unions are based on multi-year contracts with annual renewal options for the consumer. FamilyShield sold through Amazon.com was the industry's first direct-to-consumer brand.
Nimbo Tracking has secured 11 new franchise and pre-owned dealerships located in 5 states during the first six months of 2022 that account for approximately 2000 vehicles across a broad range of automotive brands. Through recently appointed distributors and agents, Nimbo Tracking has forecasted an expansion of 12 additional automotive dealerships during the second half of 2022 with monthly inventory levels reaching 5000 vehicles at penetration rates of 15% to 50% of vehicles sold with Nimbo Tracking services each month.
CU Track primarily marketed through Michigan Credit Union League Service Corporation (MCULSC) representing approximately 80 credit unions located in seven districts, successfully launched the CU Trak program in early 2022. Upper Peninsula credit unions were the first to deploy CU Trak services with ongoing expansion following the initial launch in April 2022. Post-COVID in 2022 looks very promising for CU Trak sales as Credit Union trends indicate an increase in higher risk loans for car purchases supported by Federal subsidy programs. Revenue contributions from CU Trak services are expected to increase several-fold with the addition of 8-10 Credit Unions from existing channels and the expected expansion of Latin American sponsored sales channels in the second-half of 2022.
FamilyShield sold directly to the consumer through Amazon.com and IGEN's Shopify website has been successful for customer renewals and B2B sponsored channels. In particular, driving schools across the US including government sponsored safety programs have offered the most promise for 2022 revenue contributions.
Commercial Fleets and Markets
IGEN's commercial fleet brands Medallion GPS and Medallion GPS PRO offer state-of-the-art fleet solutions for a complete range of Light-to-Heavy Duty commercial vehicles with its patented DTS capabilities to measure driver performance and safety. IGEN's recent award to provide Medallion GPS fleet services to New York State Counties offers an exclusive opportunity for Counties and State governments to manage their self-insured assets. The opportunity base for Medallion GPS with the Counties in NY State is estimated at 12,000 commercial vehicles. In addition, through IGEN's partnership agreement with the County Executives of America(CEA), Medallion GPS will be marketed to 700 CEA members that own and manage approximately 350,000 commercial vehicles across the US.
MM fill buy order on bid to mimik it as a sell. Manipulation never ends here it looks like.
No dilution since more than 2 month. Good to know.
According to https://www.otcmarkets.com/stock/IGEN/security no dilution happened on last friday. Good to hear. So maybe they really wait for a bigger bomb.
Or MM filling buys on bid to make it look a sell
10Q out
17 here
I know that as well.
Please tell us when you get something back from him.