MURRIETA, CALIFORNIA — (Marketwired) — 04/18/17 — (OTCQB: IGEN)(CSE: IGN)(CSE: IGN.CN), a Company that offers a range of cloud-based wireless IoT solutions with a focus on asset management and tracking for the automotive dealership industry, is pleased to announce that it filed its 2016 Annual Report after the close of trading yesterday and posted at .
In 2016, IGEN continued to focus its efforts on generating more revenues, increasing shareholder value through increased investment or acquisition in portfolio companies, and managing growth of its invested companies.
Financial highlights reported for the year include:
Significant achievements
Continued investment in product platform and resources to support growth and provide scalability, improved functionality, stability, and performance.
CEO Neil Chan stated, “I–m pleased with our team–s ability to execute and their achievements throughout the year. Our 2016 sales and service revenue growth reflects our first pre-load deal announced last summer. Based on that proven rollout, we are now focused on significant expansion of the pre-load model at new car franchise dealerships through our offices in California and the new office recently opened in Charlotte, NC. Our 2016 results further demonstrate we have been able to manage our growth by increasing margins and reducing our costs throughout the year.”
Additionally, CEO Neil Chan will hold a conference call to discuss IGEN–s year-end accomplishments and results in more detail at 1:15 pm PST tomorrow, Wednesday, April 19. If calling from the United States, please call (310) 372-7549, and from Canada call (514)312-2743. The conference code is 150727. The call will be recorded and posted on the Company–s website. Please email if you would like the recorded call sent after conclusion, or if you wish to submit questions for consideration on the call.
Finally, a recently written 24-page research report was issued on March 27, 2017 by Marc Robbins, CFA of Catalyst Research. Ongoing research and updates are expected to be provided. The entire report can be found at:
About IGEN Networks Corporation
IGEN Networks Corporation invests in and manages companies that deliver cloud-based services through Internet-of-Things (IoT) device technologies for the protection and management of mobile assets.
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 and .
Forward-Looking Statements
This news release may contain forward-looking statements or forward looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities law. The terms and phrases “goal”, “commitment”, “guidance”, “expects”, “would”, “will”, “continuing”, “drive”, “believes”, “indicate”, “look forward”, “grow”, “outlook”, “forecasts”, “intend”, and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by IGEN in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that IGEN believes are appropriate in the circumstances, including but not limited to statements regarding investment liquidity, financing options and long term goals of the Company, general economic conditions, IGEN–s expectations regarding its business, customer base, strategy and prospects, and IGEN–s confidence in the cash flow generation of its business. Many factors could cause IGEN–s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; IGEN–s reliance on key personnel; IGEN–s ability to maintain and enhance its brand; and difficulties in forecasting IGEN–s financial results, particularly over longer periods given the rapid technological changes, competition and short product life cycles that characterize the mobile application industry. These risk factors and others relating to IGEN that may cause actual results to differ are set forth in the under the heading “Risk Factors” in IGEN–s periodic filings with the British Columbia Securities Commission and the U.S. Securities and Exchange Commission (copies of which filings may be obtained at or . These factors should be considered carefully, and readers should not place undue reliance on IGEN–s forward-looking statements. IGEN has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts:
Corporate Inquiries:
IGEN Networks Corporation
Richard Freeman
1(888)244-3650
Investor Relations:
Green Chip IR
Matt Chipman
President
1(818)923-5302
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