iGen Networks Corp (IGEN)

[alert1100]

I'm betting on 15s today .....

[sharpei]

BTW, the chart used is 'Barchart' not ToS, as ToS charting is smaller and less useful for display purposes.

[sharpei]

Attempting to view the bottom of a green candle three years prior on a ToS chart with these old eyes is no different from trying to catch a herd of cats-but, this is what we can know...
As best as I could detect, .0015 could well be the bottom of a tall, green candle (*1); the Fibonacci looks quite ideal 16.2 (*2); the last candle was a graveston doji (*3); and the arc of the drop into .0015 was as close to a vertical as you could expect (*4); the PSar shows the longest, most extended downtrend 8/31/22 to the present (*5); and finally, I was able to connect all the long 'tails' from a year ago to .0015 doji tail in a straight line.
And finally, we see the large volume bar which could mean a trend change.


* A gravestone doji is a bearish pattern that suggests a reversal followed by a downtrend in the price action. - Investopedia.
In summation, IDK...it could be .0015 but we all will have to wait and see together.

[kayak_wench]

Sharpei would be the best person to ask. Back in late Aug they called 0.0015 as a possible new low and hinted at an even lower number (see post 70907)

[The Libertarian]

How low do we go? ??

[kayak_wench]

A tweet with no new news whose purpose seems to be excite investors is usually related to dilution in OTC land. If the tweet were saying installations of CUTrack in Puerto Rico will begin this year, that would have been news. This is just rehashing the PR from Oct 24. I'm bracing myself for tomorrow. I'm thinking we might hit another 52 week low.

On the plus side I am wrong a lot, hopefully this is one of those instances.

[sharpei]

$IGEN: “Puerto Rico Credit Unions have received $3.2M of CDFI funding thus far in 2022 for technical services and technologies."

Puerto Rico Credit Unions have received $3.2M of CDFI funding thus far in 2022 for technical services and technologies ….CU TRAK here we come!!

— IGEN Networks Corp. (@IGENngc) November 3, 2022

[Sgt T]

Nice! Abel to the rescue!

[Eddie T]

Interesting tweet from IGENs Twitter acct:
“Puerto Rico Credit Unions have received $3.2M of CDFI funding thus far in 2022 for technical services and technologies ….CU TRAK here we come!!”

[AC777]

Is it tomorrow or next Friday?

…I’m so excited, I’m not sure!

Guess we will have to wait an see…Good Friday!

[MSU]

Have Mercy!!

[pxxpy7]

“First one’s free” concept is inherently wait and see marketing, thought it would flourish by now, but…wait and see.

[ranchhand71]

Potential dilution seems a problem to some.
Current market cap is $2.7 million today.
Ridiculous if they can get revenues going.
Year end cumulative balance sheet deficit approaching $20 million.

To raise $2-5 million would seem a stretch and highly dilutive.
Look at Form 7 issued for end of September that shows several cash raising transaction details. But at least the money raised helped pay executive salaries!

[ranchhand71]

Good revenues in Q4 now underway would help a lot to address auditor year end review. Hopefully Able and team can succeed soon. From recent Form 7:

'The Company has experienced recurring losses from operations, has negative operating cash flows since inception, has a working capital deficit of $881,068 and an accumulated deficit of $19,741,797 as of September 30, 2022, and is dependent on its ability to raise capital from stockholders or other sources to sustain operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Ultimately, the Company plans to achieve profitable operations through the increase in revenue base and successfully grow its operations organically or through acquisitions. The condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties."

[jgrant93]

Guess I'll be adding til Christmas.

[torn4now]

Or losing patience. This 10K was far from earth shattering and you gotta expect some longs that have BEEN patient for 2+ years may move on for various year end reasons. No doubt IGEN is making positive steps in building something here but god damn this timeframe is ridiculous. Next we will hear the looming recession impacted progress. I really hate to think where the share price will end up if another S1 or more zero game changer announcements come across soon. Maybe Abel will be Santa this year LOL

[reindlll]

Anyway if Jefferson has shares left. Someone is diluting

[jgrant93]

Well theres no more shares available for Jefferson so either they have the money...are expecting money...or theres a new s1 coming

[reindlll]

Thats why all this decrease is happening. No more support buys

[jgrant93]

Well market doesnt seem to want to give them anymore money.

[reindlll]

I wouldn't be that much concerned about share price if they were not that much dependant from it due to the need of dilution.

[reindlll]

The question is just what the price is and what is left behind.

[Sgt T]

In this business model you have to spend the money upfront. No different than PlayStation or phone companies. Remember Chan dominated in Asia for Motorola. He knows what he is doing! IGEN is building a big business here.

[reindlll]

I thought first the generate revs for the initial selling into the market and then produce continuous revs due to subscription. Due to end such speculation we need an investors conference call.

[jgrant93]

I will continue to add down here. 2 quarters of growth even if theres more spending that also means growth

[jgrant93]

Yes but operating costs and hardware expenditure dont always increase.

I see our inventory assets go from 220000 to 50000 and believe a whole bunch of units must have gone out that are yet to produce revenue.

Likely wont need more hardware this quarter

[reindlll]

But gross profit is the value that counts. Only if this value goes up it prevents dilutiin.

[jgrant93]

Revenue still going up so it works.

[reindlll]

Shit

[jgrant93]

I believe they give hardware out and then get the subscription

[reindlll]

Sure but doesn't sound good when the selling of a products costs more then oroducts brings in.

[jgrant93]

They spent more than they made.

[reindlll]

But what is the story behind the negative gross profit?

[jgrant93]

Revenues rose 45000 and we saw inventory drop by 180000.

That's nearly 18000 units that have gone somewhere since july.

Distributors customers government cars?

[jgrant93]

Still mystifying what our 2.5 million in expenses was from dec 2021... every other quarter was around 250k.

[jgrant93]

One issue consistently is that inventory levels have dropped 180k but revenues didnt see anywhere near that rise . Too much free hardware...

[jgrant93]

I'm a little less upset with the 10q after comparing it to augusts...

We went from 91k revenue to 135k which is a 50 percent increase...

Solid. Expenditure still very high. Form7 otw. Continue to accumulate.

[alert1100]

Ok lets see Sag T

[Sgt T]

Not wrong about you John

[Sgt T]

Atta boy Johnny

[alert1100]

Looking more like rinse and repeat ...

[alert1100]

Drop price lower so I can get lost ...

[Sgt T]

But they won’t talk to me. I don’t own a big brokerage or sit on several boards. How did you get them to talk to you? TIA.

[ranchhand71]

YOU can contact them yourself. They lost faith in Chan

[Sgt T]

You’re right as always!

[ranchhand71]

All of us are entitled to our different investment opinions based on our experiences. Like and hate have nothing to do with judging incompetence.

You and Chan have failed here. Paper promises and promotes. THAT has been the case for past few years.

.MAYBE that will change in the future.
Next few quarters will make the difference in survival..

Both of you are control freaks but it has not helped here.YOU trying to manipulate IGEN stock opinions on several sites and as manager here.
All documented and available. to CSE staff. Nice to see.
Should CHAN turn out to be present on this site and others it will certainly become a compliance and disclosure issue.
CHAN issued press releases and his lack of shareholder communications have NOT yet helped shareholders.

ABEL offers hope, potential and honest straight shooter. He will be a MUCH better communicator to shareholders if given the chance.
Both former independent Directors lost faith,
Boards I have served on never would have left Chan in place so long.
Opinions of management in Canada have been poor for almost a decade when forecasts to investors were badly missed.

[AC777]

Great day for longs with patients an foresight,,,

Let’s see what Good Friday delivers!

[Sgt T]

Provide proof of the board members not being happy please.

[sharpei]

Sarge, I think a good businessman should know his strengths and weaknesses and also be able to see those in others, then use those individuals to fulfill positions in the company.
If the picture is as others can 'deduce' ("deduce" because we don't have enough of the facts to be certain), it appears Chan has skills and talents in technology and creating companies that fill a niche in the global industrial world-which are highly-valued talents, but he may well have failed to give the talent of 'persuasion' (sales) its proper due from the beginning; at least it looks that way to some of us.
If I'm correct, this is a big fail; and we hope that promoting Abel to COO is the beginning of a turn of events and that we see a different 'face' of IGEN at critical discussions and national conferences.
'Hate' isn't part of the equation.

[ranchhand71]

Not the issue-- just think the facts show that he has not done a good job the past 5 years. He has taken advantage of his position and not been shareholder friendly. He/You have not added shareholder value. Former Independent Directors were not satisfied with his role. approach and actions. They both resigned.