IGEN Networks Corp (OTCMKTS: IGEN) is a stock at the top of many traders watch lists as it continues to move higher in recent days. Over the past few months IGEN has exploded out of the triple zeroes and emerged from obscurity to become a volume leader attracting legions of shareholders who continue to bid the stock higher.
It’s easy to get excited about 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.
IGEN Networks Corp (OTCMKTS: IGEN) 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 alerts, 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.
IGEN is emerging as a leader in vehicle tracking and fleet management, serving both businesses and individuals across the U.S. The company operates under three distinct brands: (source)
“Nimbo Tracking” which focuses on real-time GPS tracking solutions for new and used car dealerships. Car tracking for an auto dealership is an essential service, just like insurance, meaning customer retention is strong in the sector.
“CU track” which focuses on tracking solutions for credit unions and other financial institutions. Today it is normal for financial institutions that offer auto loans to install a tracker in the vehicle as part of the loan agreement. Every auto loan that is approved is literally a sale booked for companies like IGEN, since car tracking is now a standard requirement for loan approval across the asset finance industry.
“Medallion GPS Pro” which focuses on tracking solutions for commercial fleet owners. The platform allows fleet owners to also manage their assets and monitor their drivers to ensure they are behaving in a way that promotes the security and safety of the assets and their own personal safety.
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In May IGEN reported financial results at which time CEO Neil Chan commented: “IGEN priorities for 2019 were to strengthen our existing channels with Sprint and create new channels for the credit union market and specific opportunities that leveraged our next-generation platform for the light-commercial fleets. Subsequent events included the launch of Medallion GPS PRO targeted for Light Commercial Fleets operating at less than 10,000 gross lbs. On March 2, 2020, IGEN and County Executives of America announced an exclusive three-year distribution agreement offering Medallion GPS PRO to more than 700 Counties across the US. It will be the first deployment of IGEN’s patented “Digital Telematics Signature” for driver scoring and risk assessment of County-owned mobile assets and their drivers.”
IGEN has some big names behind it; the CEO Neil Chan is a serious mover and shaker who sold his last Company for an enormous sum. Recently Robert Friedman was added as Director of IGEN. Robert Friedman is developing a national family amusement them park anchored by the world’s largest roller coaster to be located in Orlando, Florida and has many properties and building in Manhattan. According to online records Robert Friedman and his brother Bernard Friedman own roughly 40 retail office buildings, rental properties, and luxury homes in Manhattan including a 28 story skyscraper just steps from Time Square.
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Currently trading at a $5 million market valuation IGEN is an exciting story developing in small caps. The Company is fully reporting OTCQB and just reported their 10Q. It’s easy to get excited about 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. 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