iGen Networks Corp (IGEN)

[Randy1111]

Well this makes feel confident. At least there is clarity to why the share price hasn’t moved.


These condensed consolidated interim financial statements have been prepared on a going concern basis, which imply the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, on the ability of the Company to grow its revenue base, on its ability to successfully grow the companies in which it is invested, and on the ability of the Company to obtain necessary equity financing to both support the latter objectives and to invest in and grow new companies. The Company has recurring losses since inception, and incurred a net loss of $810,097 during the nine-month period ended September 30, 2018, and had accumulated losses of $11,033,385 and a working capital deficit of $1,110,356 as at September 30, 2018. Although there are no assurances that management’s plans will be realized, management believes that the Company will be able to continue operations into the future. These condensed consolidated interim financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

I believe the shareholders have been more than patient watching IGEN burning up cash. 11M plus and the number keeps skyrocketing. 100 k well wasted on a convertible debenture . Wish I dumped when it was .15 way back. Got talked out of it which was unfortunate.
IGEN will have to do huge revenues without the losses to make money for its shareholders. Not seeing it.