iGen Networks Corp (IGEN)

[Eddie T]

Overview

During the six-month period ended June 30, 2023, the Company dissolved its subsidiary Nimbo Tracking, LLC. In the same period the Company completed its integration of commercial fleet and asset management platforms. In conjunction with its technology partner Prolog, the Company developed and launched three (Inventory, Maintenance, Fleet Management) industry-leading solutions for Counties, State Governments, and Supply-chain organizations. Upon completion of the first deployments to New York State Counties, the Company will leverage its County Executives of America (“CEA”) endorsement to secure additional deployments across the CEA membership. In addition, the Company’s partnership agreements with certified Credit Union organizations, namely the Association of Credit Union Executives of Puerto Rico (“ASEC”) and Michigan Credit Union League Service Corporation (“MCULSC”) have completed their initial deployment in preparation for larger-scale deployments within their respective regions. Both ASEC and MCULSC represent approximately 170 Credit Unions with over 2M active members. The Company has also completed its first phase of due diligence for protecting its patent rights against insurers using driver scores as actuarial metrics for customer billing.