Georgi Kamburov

Lifelogger Technologies Corp (OTCMKTS:LOGG) Logs Another Red Session

by Georgi Kamburov July 21, 2015

On July 1 the stock of Lifelogger Technologies Corp (OTCMKTS:LOGG, LOGG message board) closed at $0.29 per share. On July 16 the ticker reached a high of $0.562 without registering a single session ending in the red. The uptrend was nothing short of impressive, even more so if you take into account the fact that it was not supported by absolutely anything.

Still, quite a lot of people apparently were eager to jump right into the stock. If you are still wondering whether to do the same let’s draw your attention towards some of the alarming aspects of the company. It is true that Lifelogger’s plan of developing a wearable camera and a cloud-based platform that will allow users to share their pictures and video footage sounds extremely appealing. The wearable cameras market has been booming but that also means competition in the segment is getting more and more intense.

There are numerous products already available from a host of different companies while LOGG are still struggling to complete even one of their products. The deadlines have been pushed back significantly from the initial plans of the company and the May 19 corporate presentation shows that this is still the case. The camera doesn’t have a concrete date for its launch while the software products is expected to enter open beta testing in the third quarter of the year.

But even if LOGG finally manage to complete one of their products its commercialization will need a sizable amount of capital. Unfortunately LOGG’s financials are rather depressing with the company reporting the following numbers for the first quarter of the year:

• $81 thousand cash
• $89 thousand current assets
• $55 thousand current liabilities
• ZERO revenue
• $290 thousand net loss

The quarterly states that for the next twelve months LOGG’s expenses are expected to reach $971 thousand. In order to raise any amount of money investors should be prepared that more of the company’s shares will have to be sold. Back in March the amount of $150 thousand was raised through the sale of 348 thousand shares.

So, LOGG doesn’t have a completed product as of yet, their financials are quite grim and there could be even more dilution in the future. For the past two sessions the stock has also been dropping down the chart and although for now the corrections are not that scary – 5.7% last Friday and 5.1% yesterday, the ticker has demonstrated that it can wipe huge chunks of its value in a matter of days. Just take a look at the stock’s performance in mid-May. 

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