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Tuesday, August 9, 2022

IGEN Networks Corp (OTCMKTS: IGEN) Major Move Northbound as Company Secures Multiple Award Schedule Contracts For Its Medallion GPS PRO

IGEN Networks Corp (OTCMKTS: IGEN) is up big after the Company reported it has secured multiple award schedule contract with state and federal governments delivering its Medallion GPS PRO to offer fleet management and maintenance services to 700 member Counties across the USA. The GSA/VA status enables IGEN to market its products and services directly to governments including Counties, States, and the Federal Government. From this GSA/VA Schedule contract status, IGEN will market its Medallion GPS Fleet Platform initially to Counties located in six states that include Pennsylvania, Michigan, New York City, New York, Tennessee, and California. CEO Neil G Chan stated: “Combined with our GSA/VA contract status, we now have the process to facilitate transactions with the Counties across all US government markets. In preparation we have increased our inventory levels to 2500 hardware activation units for the next quartile period. The diversity of government assets along with the self-insurance of these assets creates an excellent fit with the capabilities of our Medallion GPS Fleet Platform.”    

This is big news for IGEN shareholders who came back in force on Friday bidding the stock up over 100% on $3.7 million in dollar volume on the day. The stock was trading as high as $0.0243 earlier this year and investors are looking for a return to these levels. a break over $0.0243 and its blue skies ahead. IGEN is fully reporting filing a 10Q on November 15 showing $220,968 in revenues for the 9 months ended September 30, 2021.  

IGEN Networks Corp (OTCMKTS: IGEN) operating out of Lake Elsinore, California provides peace-of-mind to automotive consumers and their families through direct access to Internet-of-Things (IoT) cloud-based services that include Stolen Vehicle Protection, Real-time updates on asset health and Driver Behavior. IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTCQB under the symbol IGEN, and listed on the CSE under the symbol IGN. The Company is led by CEO Neil G. Chan a career technologist who has pioneered the early adoption of disruptive technologies in more than 45 countries over the last 30 years. From start-up to $400M in annual revenues, Mr Chan has led and created the best-in-class sales, marketing, and service organizations during the development of wireless data infrastructure, mobile content, Software-as-a-Service for commercial fleets, and HFC broadband infrastructure.  

The Company currently owns the DTC patent for normalization of driver behavior data for consistent and accurate measurement of driver performance regardless of asset-type or data source. IGEN has secured trademarks and distribution licenses through increased ownership of privately held technology companies. IGEN’s Driver Telematics Signature Patent: Patent No. 11,037,378 was issued from the U.S. Patent Office on Tuesday, June 15, 2021. This U.S. patent becomes enforceable on the day of issuance. The DTS Patent is a method and system designed to create a unique signature of driver performance, driver habits, and risk assessment of driver maneuvers. According to the most recent studies published by Insurance Journal, the cost of rating errors exceeded $15B in 2010 with approximately $8B attributing to missing information on driving habits. 

IGEN works with Wireless Carriers and distribution partners to provide direct and secure access to information on vehicle assets and driver behavior. The software services are based on AWS Cloud infrastructure created to provide valuable information to its customers over the wireless network and accessible from internet connected devices. The software services are marketed through automotive dealers, financial institutions, and government channels as distinct commercial and consumer brands that include Nimbo Tracking, CU Trak, and Medallion GPS PRO. IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTCQB under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information, please visit www.igennetworks.net and www.nimbotracking.com.

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IGEN

Microcapdaily first reported on IGEN on June 6, 2020 as the stock was moving up out of the triple zeroes stating at the time: “After a brief dip below $0.005 IGEN is once again northbound as investors accumulate. There is plenty to get excited about on IGEN; the Company has been appointed Wireless Business Consultants (WBC) Sprint’s Master Agent for nationwide distribution and Sprint has IGEN products listed on its website. IGEN Networks is projecting enormous revenues from its County Executives of America contract as well as ongoing sales from its Sprint/T-Mobile contracts. The Company is led by mover and shaker CEO Neil Chan who along with his VP has accumulated 36 million shares of IGEN on the open market according to recent form 4s.” 

On December 3 IGEN reported its qualification for GSA Multiple Award Schedule Contract with selected states and federal government markets. The GSA/VA status enables IGEN to market its products and services directly to governments including Counties, States, and the Federal Government.  

The GSA/VA Schedule contract status is a Preferred Vendor Status with local, state, and federal governments from which qualified companies are considered to be responsible and reputable to these governments. According to the GSA/VA Solicitation Services, there are only .003% of companies in the United States that are GSA or VA Federal Supply Schedule Contract qualified.  According to The Authority in Government Contracts the Federal Government spends over $40B exclusively with GSA/VA Schedule Contract holders on an annual basis.  

From this GSA/VA Schedule contract status, IGEN will market its Medallion GPS Fleet Platform initially to Counties located in six states that include Pennsylvania, Michigan, New York City, New York, Tennessee, and California. Additional states will be added to IGEN’s contract status as opportunities grow across the US. The Medallion GPS Fleet Platform will offer compelling features and services at lower costs with emphasis on ease-of-use. The system is organized around both asset and driver with dispatch capabilities, automated reporting, maintenance, diagnostics reporting, driver behavior scoring, and video tutorials on demand that are built on AWS Cloud-based infrastructure. The Medallion GPS Fleet Platform incorporates the patented “Digital Telematics Signature”, which offers greater accuracy in measuring and scoring driver behavior across diverse fleets providing a powerful tool for assessing actuarial risk of assets and their drivers.  

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IGEN is up big after the Company reported it has secured multiple award schedule contract with state and federal governments delivering its Medallion GPS PRO to offer fleet management and maintenance services to 700 member Counties across the USA. The GSA/VA status enables IGEN to market its products and services directly to governments including Counties, States, and the Federal Government. From this GSA/VA Schedule contract status, IGEN will market its Medallion GPS Fleet Platform initially to Counties located in six states that include Pennsylvania, Michigan, New York City, New York, Tennessee, and California. CEO Neil G Chan stated: “Combined with our GSA/VA contract status, we now have the process to facilitate transactions with the Counties across all US government markets. In preparation we have increased our inventory levels to 2500 hardware activation units for the next quartile period. The diversity of government assets along with the self-insurance of these assets creates an excellent fit with the capabilities of our Medallion GPS Fleet Platform.” This is big news for IGEN shareholders who came back in force on Friday bidding the stock up over 100% on $3.7 million in dollar volume on the day. The stock was trading as high as $0.0243 earlier this year and investors are looking for a return to these levels. a break over $0.0243 and its blue skies ahead. IGEN is fully reporting filing a 10Q on November 15 showing $220,968 in revenues for the 9 months ended September 30, 2021. We will be updating on IGEN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with IGEN.

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Disclosure: we hold no position in IGEN either long or short and we have not been compensated for this article

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