IGEN NETWORKS CORP - IGEN STOCK NEWS

IGEN Networks Corporation (OTC: IGEN) has appointed Juan Ignacio Avila Diaz Rubin as its new Chief Technology Officer. A founding partner of Prolog, he brings over 30 years of global experience in logistics and supply-chain management, overseeing projects for major companies like Walmart and Ford. CEO Neil G. Chan expressed confidence in Avila's innovative approach, which is expected to enhance IGEN's service offerings. This strategic appointment aims to strengthen IGEN's position in the IoT market for automotive and fleet industries.

IGEN Networks Corporation (OTC: IGEN) announced an exclusive partnership with Prolog to enhance IoT solutions for the US Counties and Federal Government. This collaboration aims to tackle logistics and supply chain challenges using IGEN's technology and Prolog's expertise. IGEN's CEO highlighted their exclusive endorsement from the County Executive of America and their existing GSA/VA Schedule contract status, which spans several states including California and New York. Prolog brings extensive logistics experience with over 250,000 vehicles managed and 1,200 clients worldwide.

IGEN Networks Corporation (OTC: IGEN, CSE: IGN) has secured an exclusive marketing agreement with the Association of Credit Union Executives of Puerto Rico (ASEC). This collaboration aims to help ASEC and affiliated credit unions generate new revenue by promoting IGEN's CU Trak and FamilyShield products. The partnership is supported by the U.S. Department of Treasury's CDFI Fund, which has allocated $13.2 million to enhance technological capabilities among credit unions. The initiative is expected to facilitate IGEN's expansion into Latin America.

IGEN Networks Corporation (OTC: IGEN) has entered into an exclusive marketing agreement with the Association of Credit Union Executives of Puerto Rico (ASEC). This partnership aims to promote IGEN's CU Trak and FamilyShield offerings to ASEC's members, unlocking new revenue opportunities. The collaboration aligns with the U.S. Department of Treasury's $13.2M funding to Credit Unions for technical assistance in 2022. IGEN's COO, Abel I. Sierra, highlighted the innovative nature of their technology tailored for credit unions, aiming to expand services throughout Latin America.

IGEN Networks Corporation (OTC: IGEN) has filed a Patent Pending Application No. 17/850,258 with the USPTO for its innovative method of creating Real-Time Driver Telematic Signatures (DTS) for both human and autonomous drivers. This application doubles the company's patent claims to over 40, enhancing its existing patent portfolio. The DTS utilizes proprietary algorithms to assess driving behavior by incorporating various external factors like weather and vehicle condition. Built on AWS infrastructure, the platform supports scalability and offers robust security for user data.

On September 12, 2022, IGEN Networks Corporation (OTC: IGEN) filed a patent application with the USPTO for its 'Method and System for Creating Real-Time Driver Telematic Signatures.' This application increases IGEN's patent claims to over 40, focusing on evaluating driving behavior using proprietary algorithms. The Digital Telematics Signature (DTS) system collects various data, including weather and traffic conditions, to create accurate driver profiles. IGEN's Next-Generation Platform utilizes DTS for both commercial and consumer markets, ensuring reliability and scalability via Amazon Web Services.

IGEN Networks Corporation (OTC: IGEN) reported a net profit of $10,582 for Q2 2022, marking its first profit since inception. This is a significant improvement compared to a net loss of $325,937 in Q2 2021. Total current assets increased by 45% to $252,227, while recognized revenues rose to $91,976, up from $82,998 in the same quarter last year. The company expanded its subscriber base with 1,680 new asset activations and secured 11 new franchise dealerships. CEO Neil G. Chan expressed optimism about future growth prospects in the IoT market.