iGen Networks Corp (IGEN)

[Bionic Man]

A profit is a profit especially for the first time ever. We had a $325,000 loss from prior year Q2. I’m not sure why all the sudden you turned negative on this. Oh, wait I know, it fell in line with when you were part of the 26 million sold off the other day. Pretty easy to catch.

[Bionic Man]

Second Quarter Financials and Recent Accomplishments:

As of June 30, 2022, the Company had total current assets of $252,227, a 45% increase from December 31, 2021.
Achieved recognized revenues of $91,976 compared to $82,998 from the prior year second quarter period
Grew total gross deferred revenue to $310,568 representing cash received and revenue to be recognized in future reporting periods
Gain on settlement of debt of $271,935
Net income of $10,582 compared to ($325,937) net loss from the prior year second quarter period
Expanded the subscriber base by 1680 new asset activations across consumer and commercial brands
Expanded Intellectual Property Portfolio for normalizing "big data" elements for the reduction of insurance rating-errors
Secured 11 new franchise and pre-owned dealerships located in 5 states with approximately 2000 vehicles under Nimbo Tracking inventory management services
Launched the CU Track program with Michigan Credit Union League Service Corporation in the Upper Peninsula region
Awarded exclusive contracts to provide Medallion GPS Fleet Services to New York State Counties

[sharpei]

The folks who know best that it's wise not to blindly trust any OTC CEO are those who have experienced the subterfuge and resulting pain from such reliance on people in that position.

[Ping70]

Look...I love reading reading the board everyday but It's getting pretty simple.

1. The form 7 's provide a company update (as many have said before) that's all. All news will be PR'd or in an 8k.
2. This is a start up company and we are all betting on IGEN becoming a major player in their industry.
3. Over the past couple of years we have all seen major advancements in IGEN.
(CEA, CU, Patents......etc).

I could go on and on but here is the biggest deal with all OTC companies....You never know the true intentions of the CEO's. If you believe Neil has good intentions then sit back and relax....If you believe otherwise then sell and move on! Or play the flip game like a few here our doing and I won't say names. Of course I would love for things to happen tomorrow but I'm willing to wait (years). I'm not going to list everyone but Sarge and all longs thanks for posting DD everyday!

GLTUA

[Sgt T]

Lol@ “infamous CEA Deal”. You must be a politician when you’re not a cheating Mm.

[Lonewolf1]

Gentlemen, gentlemen….there is no need for rancor here.

After all, we all know, better than ever now, that this is a “long term investment”.

Ad for this infamous “CEA Deal” the Sarge is always touting, I wish he would just say WHEN THE REVENUES ARE COMING.

Because it’s easy to see that nobody believes that massive revenues are coming here.

This stock is Chan’s MM’s bi#ch, and they play it (and us) like a yo-yo.

Next.

[ranchhand71]

Hope is not a good strategy . Look for firm data in Form 7 before year end. Meanwhile some think dilution is a hurdle headwind. Many of your 100 plus comments the past 18 months did not foresee dilution and we’re too optimistic about cash legal settlements and revenue upticks. Some may wait too see actual revenues and cash hitting this underwhelming balance sheet. Chan credibility shot for most Canadian investors who backed him in the past. You are certainly entitled to your hopes and opinions. That is what makes a market . Good luck

[Sgt T]

Don’t be ridiculous. There is simply not any reason that the New York CEA money won’t come in. The deal is done and has been installed. You know this as you have intimate knowledge about the company and Chan.

[ranchhand71]

Now you have irt correct not 5 million shares as you originally posted .

[ranchhand71]

Let’s hope you are right and revenues come in. Hope is not a strategy

[BDEZ]

Nice move here for a bloody day.

IGEN

[torn4now]

Yeppers...hoping to see some updates regarding the CEA Convention in late July :)

[Eddie T]

Form 7 cometh….

[alert1100]

Nice green close ..

[alert1100]

Nice slap 75k ...

[alert1100]

$IGEN back to you ....

[alert1100]

Keep up the rants so I can finish my share goal participation.

[alert1100]

Drop it lower so I can buy more .I'm here for gold $IGEN

[tapioca]

Well, looking like Igen still unable to
close a week in the 3’s. One of these days.
Have a good holiday weekend all.

[Lonewolf1]

Feel better jgrant - I wish you the best!

[Lonewolf1]

LOL

Dang irritating, heh Sarge?

;D

[Sgt T]

Do you realize how dumb it is and how dumb you sound saying Chan’s Mms all the time?

[jgrant93]

I'm actually in hospital on heavy pain killers and you're either delusional or trolling.

Its... 200 million shares.... or......... 5 million dollars.

At lowest trading price in last 15 days less 20 percent...

Ihub needs to ban these goofs

[Lonewolf1]

Neither does Chan ever mention anything about that or anything else.

The supposed revenues here are highly suspect, to say the least, in addition to being unaudited.

It will come down to getting concrete proof from Chan, maybe by November, maybe not.

Of near term concern is the fact that nobody is interested in buying at these levels, so Chan’s MMs may have to push the price lower to generate volume.

Just when we started to think that this endless “drill” is over, we realize it may be only beginning.

[Sgt T]

What about the huge revenues coming in from the CEA deal? You never mention that.

[ranchhand71]

Fully agree with you . The huge coming dilution is a factor in the current price .

[ranchhand71]

The talk had not been 5 million shares as you state but $5 million .

[MSU]

Continue to average down, do not let up.

[Lonewolf1]

Looks like we will be trading in the .002s for a while, at least all of today’s actions indicate this.

There is virtually no volume, meanwhile Chan’s MMs are stacking the ask lower and lower.

Oh well

[Lonewolf1]

You have the POST OF THE YEAR sharpei.

It does no good to deny what is PAINFULLY obvious.

[sharpei]

It's annoying that there are several on here who dismiss legitimate concerns of LT shareholders with the insinuation that those criticisms are unwarranted.
You all need to go back to school and take a 'keep it real' pill. The accusation that Chan is less than forthright with shareholders is altogether too honest...If this stock were such a good deal there would be bigtime whales all over it. That's the bottom line-grow up and take your medicine.

[torn4now]

10K's are SEC filings - learn how to read them before calling someone out for FUD. The last one was janky as any true investor can draw that conclusion. You're right the Nov 10K hopefully will be legit. Until then we aint going anywhere period.

[AC777]

Great call JG, as this wolf came in with sheep clothing but couldn’t fool us for long!

BOOM

[jgrant93]

If they make a new s1 and raise the AS that's possible.

For now there are 100m more available to sell and we have not seen any added in 2 weeks now.

Are you one of the private institutional investors here to spread FUD now?

[kayak_wench]

By Nov 15 there will be hundreds of millions of more shares on the market.

[jgrant93]

Again that's not true. Look at the OS from that period start to end and it's impossible to have raised 385k.

Likely the crown cancellations were involved.

We need to.relax until nov 15. We will get the true picture.then...

[kayak_wench]

I disagree, the company is not doing fine.
Please respond to the nonsense of the $10k in profit reported for last quarter.

I posted that earlier and it was ignored by everyone. That lie about profit totally ticked me off. It appears to me that Chan is actively working on deceiving investors.

Do you think it is appropriate to borrow more money than you bring in in a quarter, use that borrowed money to pay off debt and then declare a profit for the quarter? That type of profit will put a company in bankruptcy quickly. In my mind to declare a profit you must bring in more revenue than you spend OR borrow.

[kayak_wench]

Yes, it is. It appears I had it have it be repeated before it sunk in. Sorry.

I think Chan using the Jefferson capital PR to boost price to dump stock.

Going forward I will not trust his PRs, I will only trust revenue reported and even then I will check that carefully.

Also the idea we had a profit last quarter is ridiculous.
We had revenues of $100k.
They had revenue of $385k from "Proceeds from notes payable and convertible debentures, net"

So what Chan did was borrow $385k to make it appear we had a profit of $10k so he could put out that PR. That $385k seems to be the source of their being able to pay off $271 of debt. Borrowing money to pay off previously borrowed money and then declaring it a profit is crappy. If that isn't illegal it should be.

[jgrant93]

Ranchhand is the one starting chan needs 5 million dollars for and is adding 2 billion shares...

Everyone just go home. Lol.

[jgrant93]

That's exactly what I said. They will buy 200m shares or 5 million dollars.

[alert1100]

Lot of us Longs been here few years .But Mr Chan lining up his ducks in a row .patience Takes time to build a successful business...$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."

[Johnstonj27]

I have been ready for that for a long time holding here.

[alert1100]

The Equity Financing Agreement with the Selling Stockholder provides that the Selling Stockholder is committed to purchase up to $5,000,000 (“Maximum Commitment Amount”) of our Common Stock over the course of its term. The term of the Equity Financing Agreement commenced on April 3, 2022 and will end on the earlier of (i) the date on which the Selling Stockholder has purchased Common Stock from us pursuant to the Equity Financing Agreement equal to the Maximum Commitment Amount, (ii) April 3, 2025, or (iii) written notice of termination by us.

 

We may draw on the Equity Line from time-to-time, as and when we determine appropriate in accordance with the terms and conditions of the Equity Financing Agreement. The securities included in this Prospectus represent the Common Stock issuable to the Selling Stockholder under the Equity Line.

 

The Selling Stockholder is an “underwriter” within the meaning of Section 2(a)(11) of the Securities Act of 1933, as amended (the “Securities Act”). The Selling Stockholder may sell the shares of Common Stock described in this Prospectus in a number of different ways and at varying prices. We will pay the expenses incurred in registering the shares of Common Stock, including legal and accounting fees. See “Plan of Distribution” for more information about how the Selling Stockholder may sell the shares of Common Stock being offered pursuant to this Prospectus.

 

[kayak_wench]

Before they can make a move on that 8B they need a patent on the AI driving technology that they only recently submitted. The patent review obviously told them the patent they have in hand is not sufficient on its on. I say that because rather than telling us the results of the review they announce they submitted the additional patent and then went mum on the matter.

So yes this is a market that may one day be available to them but it is probably a year or two out at the earliest.

[kayak_wench]

The PR about raising $5 million from 200 million shares was total BS. To raise that much money at 0.003 would take almost 2 billion shares.

As I said I am not interested in accumulating more shares because Chan isn't interested in accumulating more shares.

They are going to have to raise the allowed share count soon as it appears they are diluting 100 million every couple of weeks. Why don't YOU do the accumulating for all of us. Someone telling me to buy is a sure sign that I shouldn't.

[jgrant93]

Buddy its 200M shares OR 5 million. You do a lot.of research and make yourself sound like you know what you're talking about but you're actually.out to lunch.

Go read the s1 dude.

[alert1100]

IGEN's intellectual property portfolio will focus on normalizing the "big data" elements that influence driving habits along with correcting gross errors in assessing driver performance and driver behavior.  Reducing what the insurance industry refers to as "rating-errors" is the single biggest opportunity for insurance companies.  With an estimated $8B of annual rating-errors attributed to not understanding driver behavior, IGEN is positioned as a disruptive force in establishing actuarial metrics for the insurance industry along with providing a safer environment for drivers and their families.  Key initiatives for IGEN for 2022 will be to strengthen its patent portfolio in the area of Artificial Intelligence (AI), in-particular as it pertains to electric vehicles (EV) and their inherent ability to collect data from a broad-range of external 

[ranchhand71]

Dilution to raise $5 million may well be weighing on the stock price now and for a while. For YOU a chance to accumulate more shares at this level for a while

[kayak_wench]

I'm still looking for form 4s where insiders take advantage of low price. The fact they aren't interested, and they have bought at the bottom in previous dumps makes me not interested.

Makes me wonder if there is more dumping coming. Its been one full month and no updates about additional deals. It seemed they had momentum, then hit a wall. We need news about more contacts with counties.