iGen Networks Corp (IGEN)

[kayak_wench]

Why Chan needs the Crown deal on hand is he doesn't want to be restricted in what he pursues by the revenue coming in. We see right now the company has very little revenue, just a few hundred thousand per year. Yet he is actively building new capability (described in last form7) such as product enhancements Medallion GPS and plans to introduce the first phase patented Driver Telematics Signature (DTS) features Q1 2022. A single software developer can easily be over $100,000 a year. If I buy a piece of electronics I need to believe the company is constantly innovating and pushing the envelop. It can't come up with a product and just sell that year after year we expect hardware improvements every few years and regular software updates. The company needs to be able to get cash anytime they want it for anything Chan decides they should invest in. I really don't want him holding back development for months on end waiting for cash to flow in.

If I buy fruit and vegetables at a farm I don't think about how the farmer better be prepared to offer me a new improved product the next year. I'll keep buying the same fruit each year and as long as it is fresh I will be happy. You just don't have the same research and development expense as a company like IGEN. You can probably set a yearly budget for the next few years which barring something like a locust invasion you have a reasonable chance of meeting. Chan needs to be nimble and respond to the ever changing market and to customer feedback/questions. The Form 7 noted the improvement to the Medallion GPS recently completed was done based on feedback from CEA customers. And the Form7s from the summer noted the company was evaluting business opportunities that came about from T-Mobile Business Channels enquries.