For those who are not familiar with the County Executives of America deal let me help you understand it better. In February of 2020 we signed a partnership agreement with the County Executives of America to provide our tracking systems to the assets of over 700 counties across the U.S. This would mean that IGEN would potentially be installing approximately 350,000 units in the county vehicles. The revenue from this one agreement, based on only $100 per unit, would be $35,000,000. That number is based on a conservative price. Then if you factor in the reoccurring revenue from the annual renewals you can see that this CEA deal in a monster deal for IGEN. Here are some highlights of that press release.
February 2020 press release:
County Executives of America brands IGEN's Fleet Solution "County Fleet Management"
County Fleet Management to offer fleet management and maintenance services to more than 700 Counties across the USA
"This exclusive partnership with the County Executives of America represents an opportunity for IGEN to offer fleet management solutions for an estimated 350,000 assets utilized across 700 Counties in the USA," said Neil G Chan, CEO of IGEN Networks Corp. The diversity of these assets along with the self-insurance of these assets creates an excellent fit with the capabilities of the County Fleet Management Platform.
“Mr. Michael Griffin, Executive Director of the County Executives of America said: "The County Executives of America that represent over 700 Counties and Consolidated City/Counties across America's Heartland endorses IGEN's Fleet Platform and have decided to brand it specifically to address the needs of the Counties and management of the diverse fleets. The County Fleet Management Platform offers a wide range of innovative features that will offer significant improvement in productivity, management, and safety for the Counties, their drivers and mobile assets." Mr. Griffin continued with the statement "The Counties and Consolidated City/Counties have some of the largest fleets of automobiles, trucks, motorized equipment and school buses in the United States. The care for this equipment is a very large expense to the taxpayer and it's our duty to help secure and maintain these valuable assets."
As you all know, shortly after this press release the Corona virus pretty well shut down the country and the CEA deal was put on hold. Most of these counties were struggling just to function due to massive tax revenue losses and they didn’t spend money on anything that wasn’t 100% necessary to the basic needs of the counties themselves. Unfortunately for IGEN that meant the CEA deal would be put on hold until later. So, slowly as the time went by IGEN was working on other revenue streams to keep building the business and were successful in securing many deals with credit unions and dealerships across America. The CEA deal was still waiting on financing of some sort. Then we found out that the funding for the CEA deal would be coming from the Biden administration. These are excerpts from the form 7’s concerning the CEA deal.
February 2020 form 7
“County Executives of America signs exclusive partnership agreement with IGEN Networks Corporation to offer Medallion GPS Pro to over 700 counties across the USA – see press release”
April 2020 form 7
“Medallion GPS PRO was launched this month across 700 counties – discussions for trials have commenced”
May 2020 form 7
“Launch plan with video tutorials ready to be released to the County Executives of America – completed”
June 2020 form 7
“Assessing New Castle County, Albany County, New York, and Leehigh County for possible trial sites for Medallion GPS PRO”
July 2020 form 7
“Preparing for trial deployments of Medallion GPS PRO targeting New Castle County, Albany County, New York, and Leehigh County.”
December 2020 form 7
“ATT Airtime Wholesale Agreement for County Executives of America”
March form 7
“Counties and local governments will take more active roles in managing their INFRASTRUCTURE , assets, and services as additional funding is realized from the new administration.”
On Monday, November 8th, the President signed the 1.2 trillion dollar infrastructure bill that is to be used for many different county government projects and the CEA deal is going to be one of them. This means that IGEN will become very profitable soon. We don’t know exactly how many units will be sold or how quickly, but we know that the potential for the CEA deal to be fully funded is a strong possibility. This is the deal that caused me to Load up on IGEN even more than I had already, and it is the deal that will raise the ticker to 3 year highs soon. The price we see now is so undervalued for this company and we never should have been below .01 based on these and other great things coming.
The passing of this infrastructure deal is a very BIG deal and we should begin to see a strong reversal and run coming soon here as the market cap is only a fraction of what the CEA deal will be worth. In my opinion it is probably the very reason we have seen so much manipulation and strong accumulation here. The big time players know that the CEA deal is a massive government deal that will put IGEN in a great position for further growth.
Let’s go! IGEN long and strong!
