IGEN Networks (OTC: IGEN) CEO Neil G. Chan is providing a status report on the company’s key initiatives; IGEN is a leading innovator of solutions for the consumer automotive, fleet management and supply-chain industries. In the update, Chan discusses new opportunities for the company, noting that IGEN has focused on the following: opportunities within the commercial side of its business; new technologies, which included offering an integrated all-in-one solution that address the SME (“SME”) business supply-chain requirements at lower costs and on a subscription basis; and new marketing channels, which involved IGEN signing a comarketing agreement with a Fortune 100 wireless carrier. “In preparation for completing these key initiatives, the company has extinguished all outstanding debt for an exchange of Preferred Series A shares with Jefferson Street Capital LLC (‘JSC’), along with JSC’s continued support of IGEN through a previously announced $5 million equity line,” stated the company in the press release. “[IGEN] has also replaced all Amazon Web Services (‘AWS’)-based services with in-house infrastructure, single sourced hardware from South Korea rather than China to mitigate supply-chain risks and secured several whole-sale airtime service packages with two major U.S. wireless carriers, thereby reducing operating costs severalfold. Combined with our Fortune 100 wireless carrier, IGEN will be positioned to become the first mover on evolving opportunities for the SME supply-chain industry as we welcome 2024 and beyond.”
To view the full press release, visit https://ibn.fm/6nsuk
About IGEN Networks Corporation
IGEN Networks creates software services for the commercial asset management industries enabling its customers to better manage their assets and improve productivity. For more information about the company, please visit www.IGENNetworks.net.
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