Anastas Gegov

Lifelogger Technologies Corp (OTCMKTS:LOGG) Recovers Some Value

by Anastas Gegov February 29, 2016

After a slow descent that pushed the stock of Lifelogger Technologies Corp (OTCMKTS:LOGG, LOGG message board) below 10 cents per share in the end of last year we saw the ticker explode recently and reach well above the 25 cent per share mark in a matter of just a few trading sessions.

 

The reason was that, after more a little over four months of silence, the company finally issued a press release on February 17. At first the stock was hesitant, but then it exploded on the charts and the volumes increased significantly.

 

The company stock, however, reached a market cap that was hard to sustain, especially considering the contents of its financial report for the third quarter of last year.

 

  • cash: $143 thousand
  • current assets: $151 thousand
  • current liabilities: $353 thousand
  • revenues: ZERO
  • net loss: $236 thousand

 

Looking at those numbers we can’t say that we are surprised that LOGG managed to lose more than 30% of its value last Thursday. Without any news that would suggest it, however, the ticker gained some 31.63% in the last session of the week and closed at $0.2501. Trading was way slower and the 420 thousand shares that changed their owners generated only $99 thousand in daily dollar volume.

 

After the heavy swings in both directions that LOGG experienced in the end of last week we see that the ticker is attempting to stabilize. The company stock, however, still holds a market cap that can’t be backed up by the numbers contained in LOGG’s balance sheet and there is also the matter of the $473 thousand convertible note that can be turned into shares at a discount, so you should tread carefully.

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