iGen Networks Corp (IGEN)

[kayak_wench]

'Fault' is an interesting word to chose. It could be no one is at fault. IGEN had to try something to increase their business and Chan picked a niche market. Maybe that market didn't ever really exist. This is customer base that has little money to buy on technology toys. County funding is limited by tax payers willingness to support them. Chan felt that given a product designed with their needs in mind and if the counties could get extra support from the infrastructure bill he would make sales. Because Chan thought they would want GPSMedallion doesn't mean they would.

Or it could be that NY is not satisfied with how the product is performing and IGEN is having to work those issues and are doing so before trying to get new customers. If that is the case it would IGEN's fault for not producing a high quality product.

Or it could be that the counties prefer to go with a well known company that they know will exist and can support what they buy. Meaning a company with hundreds of thousands of units in the market and not IGEN that maybe has 4,000 with 3,000 of those just rolling out this year.

We simply can't know why they haven't managed to get a single new CEA customer this year. But we have to keep hoping that they eventually will announce more deals.