IGEN Closed Up 58.33% Amid

Interest In Recent Letter Of Intent

To Acquire 51% Of Prolog.

iGen Networks, Corp., (OTCMKTS PINK:IGEN) became the hottest penny stock of the day today, with a close up 58.33%. While there was no notable news today to kick off this sudden trading action, the company recently filed a press release on 1/17/23 announcing completion of a Letter-of-Intent (“LOI”) for the purchase of 51% of Prolog privately held shares.

It should be noted that IGEN was previously an old pick released to our Platinum Members that gained 310% or more for them in just two months-time. We say “or more” because IGEN was originally released as a private Platinum Member pick on 6/10/20 at 9:30 am, where it opened at $.0055 but we specifically told them not to even consider any potential decision to buy until it dipped into the $.003’s. Those that couldn’t wait and immediately dove in, only saw a 310% gain from the initial release price but those that chose to heed our words and wait were able to see a dip to $.0039 the following day and potentially gain as much as 479.49% from that low to its high of $.0226 just two months later.

We suggest reviewing our first public reveal of IGEN as a pick, to gain further insight into the fact that it was a prior pick of ours. And with that we will now delve into some of the key plot points from the recent LOI announcement below, that can shine some light on why investors have become so much more interested in trading this stock.

More On The Recent LOI Announcement That Has Drawn Increased To IGEN From Penny Stock Investors:

In the LOI announcement the company revealed that the purchase is intended to be completed with IGEN common shares and is valued at about $900,000 to $1.1 million USD paid in multiple tranches based on attaining predetermined minimum revenue thresholds over a period of twelve months from the closing date of the agreement. The transaction share price and closing date are to be revealed in the definitive agreement. IGEN management finds the acquisition of 51% of Prolog to be an attractive growth move because revenue thresholds from Prolog will range from $1.8 million to $3.5 million USD over the course of 12 months and would be fully recognized by iGen Networks, Corp.

Within the news release, the CEO of IGEN, Neil G. Chan stated that this relative merger would allow for the company to offer a comprehensive end-to-end logistics solution for the supply-chain industry globally, that would include facilities and warehouse management, GPS telemetry, inventory tracking, and fleet asset management and maintenance.

 It is worth noting of course that the LOI is a non-binding agreement so all or some of the announced details could change, or the deal could entirely be abandoned so investing due to its existence as known, does come with inherent risk. The definitive terms according to the release, will include a PCAOB qualified audit.