Dragni Dragnev

LifeLogger Technologies Corp (OTCMKTS:LOGG) Falls On Its Face

by Dragni Dragnev April 28, 2015

The filing of its annual report for 2014 caused LifeLogger Technologies Corp (OTCMKTS:LOGG, LOGG message board)'s nasty tumble at the beginning of April. In the sessions that folloed the crash, the ticker had more or less managed to recover its price losses – until it was knocked down again yesterday.

Truth be told, the picture that the 10-K painted wasn't all that bad:

  • Cash - $238 thousand
  • Total current assets - $346 thousand
  • Total current liabilities - $38 thousand
  • Annual revenues - $350 thousand
  • Net loss - $185 thousand

Yes, the numbers are modest – but from what is evident by the report, the company is not suffocating under crushing debt and its annual net loss borders on negligible. Many investors have high hopes that when major products start to come out – hopefully by the end of Q2 2015 – the company will immediately turn profitable. The number of new shares that has hit the market in the last 14 months is also minuscule, so LOGG's got that going for it, which is nice.

Still, as reassuring as LOGG's current state of affairs may be, it does in no way warrant its current market cap, which even after a 12% crash yesterday is still over $40 MILLION!

Needless to say, LOGG stock still appears severely overpriced. Investors should take that into consideration and act accordingly.

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