iGen Networks Corp (IGEN)

[kayak_wench]

What!!? The 424B3 filing notes 200 million shares with a price estimate of $5 million. They are saying the maximum amount they would provide is $5 million on the 200 million shares. Buddy, there is no risk of 200 million shares being worth $ 5 million!

"Prospectus relates to the offer and sale from time-to-time of up to 200,000,000 shares of Common Stock, par value $0.001, of IGEN Networks Corp, a Nevada corporation, by Jefferson Street Capital, LLC, a New Jersey limited liability company (the “Selling Stockholder”). We are registering the resale of the above shares of Common Stock issuable under an equity line in the amount of $5,000,000 established by the Equity Financing Agreement, dated as of April 3, 2022 (the “Equity Line”), between us and the Selling Stockholder, as more fully described in this Prospectus. The resale of such shares by the Selling Stockholder pursuant to this Prospectus is referred to as the “Offering.” The Offering consists of 200,000,000 shares being registered issuable pursuant to the Equity Line."