ALEXANDRIA, VIRGINIA--(Marketwired - April 16, 2015) - iGen Networks Corp (the "Company" or "IGEN") (OTCQB:IGEN)(CSE:IGN) announces the filing of its annual report for 2014, which included reporting significant growth in its key markets. The Company reported record annual revenues of $724,624, up 398% from the previous year, and record annual gross profits of $298,435 up 105% from the previous year.
Neil G. Chan, President and CEO of IGEN, stated, "I'm delighted with our progress in 2014. Our acquisition of Nimbo LLC, along with our securing a comprehensive global licensing agreement for mobile fleet applications, has established the Company's platform for future growth. Our strategic partnership with Fortegra Financial has enabled IGEN to re-define product offerings across both the retail and automotive dealer channels.
Mr. Chan concluded, "Our recent Canadian Securities Exchange (CSE) listing has helped improve the Company's share liquidity, transparency, and financing options. We intend to leverage these solid achievements to help IGEN execute on its long term financial goals, and to continue to build our customer base through offering great service and innovative products".
About IGEN Networks Corporation:
IGEN Networks Corporation invests in and manages companies that deliver cloud-based services through Machine-to-Machine (M2M) device technologies for the protection and management of mobile assets and commercial fleets. The Company offers a range of self-provisioning applications which are used to manage and recover stolen assets, provide access to roadside assistance programs, and improve productivity of commercial fleets.
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.igen-networks.com.
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 www.sedar.com or www.edgar.com). 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.