IGEN Networks signs Memorandum of Understanding for rights to patented technology for specialized high-speed internet, phone and data applications
IGEN Networks Corp. (IGEN: OTCBB)
LAS VEGAS, NV, April 14 /PRNewswire-FirstCall/ -
Mr. Monty Ormsby reports:
IGEN Networks Corp. is pleased to announce that it has signed an MOU for a Global Distribution License with Machlink Inc. for rights to the existing business of providing high-speed broadband internet, phone and data services to communities through the Hakai patented noise-free cable architecture technology.
The Machlink (IGEN) approach uses near line-of-sight radio in the UHF band to deliver wideband signals from the company's radio masts, located near any supernet internet backbone, to customers in remote communities. Compared with the current solution using DOCSIS-family solutions (Data Over Cable Service Interface Specifications) the Machlink solution has significant advantages including: operator manageable network capable of delivering telephone class quality of service with over 40MB/s symmetric service over current cable plant; dramatically reduced operational expenses for the cable operator, revenue generation closely aligned with capital investment compatibility and intra-operability with any existing DOCSIS infrastructure; new business and revenue opportunities including, VoIP Services, managed data storage services and disaster recovery services.
Although high speed internet services and the applications that are enabled thereby are commonplace in urban communities globally, in rural areas the choices are few, the services poor and the costs significant. IGEN will utilize Machlink's advanced technical platform and its low-cost structures to offer a superior broadband product at a competitive price. IGEN will carry-out expansion through sub-licensing the technology to gain the greatest coverage possible for rural areas, including third world communities that will be able to receive the coverage we take for granted.
The technology is currently operational in several remote locations as well as the Presidential Palace in New Delhi, India with all the current sites showing Network Reliability in excess of 99.9%. IGEN intends to vigorously pursue the opportunity in this very viable marketplace in India.
Under the MOU agreement, IGEN is prepared to market and distribute the license units, license services and systems in all countries and global markets other than the areas designated to Machlink who have already established a market in certain regions, as will be further defined in the license agreement. In consideration, IGEN Networks has issued two million restricted common shares to Machlink, which will be released in accordance with the terms and conditions of the license agreement.
Mr. Ormsby identified a demand for this type of services in the remote areas and realizes broadband is a recognized force. It empowers people, whether students or retired, employed, or those seeking work; it empowers businesses - increases trading areas, broadens supply chains, identifies new opportunities; it is an increasingly important tool in government service delivery, in education, in health care, in public safety. Indeed, as smaller communities struggle to find their identity in an increasingly urbanized societies, economic diversification, driven by internet technologies is considered a key survival mechanism. Broadband, affordable high speed broadband is a basic requirement for all. IGEN sees demand across all market niches: individuals, civic organizations, local small business, schools, medical institutions and commercial businesses.
About Machlink Networks Inc. - Machlink is a company which designs, engineers, furnishes, supervises the installation of, and licenses a new level of high speed broadband network for cable operators employing Machlink's patented noise-free cable architecture.
About IGEN Networks Corp. - IGEN is a capital venture company with its primary focus being on the acquisition and development of innovative proprietary technologies which have application for licensing and distribution on a global basis.
On behalf of the Board of Directors IGEN Networks Corp. "Monty Ormsby" President
Safe Harbour Statement under the United States Private Securities Litigation Act of 1995; This release made may contain forward-looking statements that are affected by known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed, implied or anticipated by such forward-looking statement. The Company does not intend to update this information and disclaims any legal liability to the contrary.
SOURCE iGen Networks Corp.
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