iGen Networks Corp (IGEN)

[Power of Emouna]

Conclusion

IGEN has cleared most of its convertible notes from last year and is sitting with 717 million shares issued. They are authorized to issue 1.49 billion shares but it seems like their need for capital has quieted as they shift toward large revenue growth. With the threat of dilution diminished investors have found the courage to step back into this name following in the footsteps of the insider buying. IGEN’s core business is recession proof yet it has great prospects with respect to revenue generation in view of its subscription model, its innovative products and the strategic sales and marketing agreements it has signed so far. Its patented technology for measuring and scoring driver performance and behavior could also unlock new opportunities in the lucrative usage-based auto-insurance space in coming years. This stock is being lifted by three hypergrowth sectors, large insider purchases, and top line revenue growth.