Igen Networks Corp (IGEN) financial statements (2022 and earlier)

Company profile

Business Address 28375 ROSTRATA AVE
LAKE ELSINORE, CA 92532
State of Incorp. NV
Fiscal Year End December 31
SIC 7363 - Help Supply Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6427 57294034
Cash and cash equivalents6427 57294034
Restricted cash and investments    2515 
Receivables393518255416251
Inventory, net of allowances, customer advances and progress billings712043721730
Inventory712043721730
Prepaid expense  428221961
Total current assets:1748226146132253176
Noncurrent Assets
Operating lease, right-of-use asset76  
Property, plant and equipment    3718
Intangible assets, net (including goodwill)506506506506506506506
Goodwill506506506506506506506
Other undisclosed noncurrent assets6      
Total noncurrent assets:587506506506508513523
TOTAL ASSETS:762588532652641766699
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:678847983814859743539
Accounts payable540686745613623653461
Accrued liabilities6194420503978
Employee-related liabilities153285728432 
Taxes payable    806 
Interest and dividends payable61919191713 
Other undisclosed accounts payable and accrued liabilities1119090904  
Deferred revenue6697208
Debt114621 1580116
Derivative instruments and hedges, liabilities13719092  28 
Deferred revenue and credits63423957
Other undisclosed current liabilities8915 546340  
Total current liabilities:1,0841,1541,3041,3601,8471,090712
Noncurrent Liabilities
Long-term debt and lease obligation5556     
Long-term debt, excluding current maturities 56     
Operating lease, liability55  
Liabilities, other than long-term debt23220755 1847434
Deferred revenue and credits18474 
Deferred revenue80 55
Due to related parties152207     
Derivative instruments and hedges, liabilities      34
Other undisclosed noncurrent liabilities 42 175   
Total noncurrent liabilities:287305551751847434
Total liabilities:1,3711,4591,3591,5352,0311,164746
Stockholders' equity
Stockholders' equity attributable to parent, including:(694)(923)(859)(883)(1,390)(398)(48)
Common stock51,1927467393228
Common stock, value, subscriptions     2525
Additional paid in capital16,90113,06910,69710,4268,8548,1097,587
Deferred compensation equity     (20) 
Accumulated other comprehensive loss    (61)(32)(12)
Accumulated deficit(19,077)(15,185)(11,631)(11,376)(10,223)(8,512)(7,676)
Other undisclosed stockholders' equity attributable to parent1,4771     
Other undisclosed stockholders' equity845232    
Total stockholders' equity:(610)(871)(827)(883)(1,390)(398)(48)
TOTAL LIABILITIES AND EQUITY:762588532652641766699

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues2693687241,1991,3471,1431,036
Revenue, net1,3471,1431,036
Net investment income(473)      
Cost of revenue(124)(271)(428)(646)(864)(748)(717)
Cost of goods and services sold (1,000) (646)(864)(748)(717)
Gross profit:14597296552483395319
Operating expenses(3,491)(1,071)(1,102)(1,693)(1,610)(1,197)(1,682)
Operating loss:(3,346)(974)(806)(1,140)(1,126)(803)(1,363)
Nonoperating income (expense)(82)(1,665)327(3)(91)(34)1
Foreign currency transaction gain, before tax     16 
Other nonoperating income      1
Interest and debt expense(28)(209)(23)(22)39(2)11
Loss from continuing operations before equity method investments, income taxes:(3,456)(2,848)(502)(1,165)(1,178)(838)(1,351)
Income from equity method investments      1
Other undisclosed income (loss) from continuing operations before income taxes28  22(39)  
Loss from continuing operations before income taxes:(3,428)(2,848)(502)(1,143)(1,218)(838)(1,350)
Income tax expense(1)  (10)(80)  
Loss before gain (loss) on sale of properties:(3,429)(2,848)(502)(1,153)(1,298)(838)(1,350)
Other undisclosed net loss      (263)
Net loss:(3,429)(2,848)(502)(1,153)(1,298)(838)(1,613)
Net income (loss) attributable to noncontrolling interest3,8013,555(479)    
Other undisclosed net income (loss) attributable to parent(3,801)(3,346)502  2 
Net loss attributable to parent:(3,429)(2,639)(479)(1,153)(1,298)(837)(1,613)
Preferred stock dividends and other adjustments  47    
Net loss available to common stockholders, diluted:(3,429)(2,639)(432)(1,153)(1,298)(837)(1,613)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net loss:(3,429)(2,848)(502)(1,153)(1,298)(838)(1,613)
Other comprehensive loss  (581)    
Comprehensive loss:(3,429)(2,848)(1,084)(1,153)(1,298)(838)(1,613)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest3,8013,555(479)    
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  1,08461(29)(19)6
Comprehensive income (loss), net of tax, attributable to parent:372706(479)(1,092)(1,326)(857)(1,607)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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