In last trading session, the stock of Lifelogger Technologies Corp (OTCMKTS:LOGG) posted another red session correcting by 3.97% and closing at $0.460. The share volume was 538,676 compared to the average volume of 1 million. There seems to be no respite even after the company posted its annual report. The stock price tumbled more than 5% on Tuesday’s trading session.
The annual financial report for FY2014 hardly did anything to prevent Lifelogger’s stock from declining downwards. The financial figures reported by the company appear to be on promising side as compared to the other penny stocks. At the end of FY2014, the company recorded cash balance of $238,000. The total current assets came at $346,000 while the total liabilities came at $38,000. The annual revenue came at $350,000 and net loss was $185,000.
When the annual results for FY2014 are compared with the numbers of last year, there definitely seems to a considerable improvement. The main things to keep in mind are the revenue for 4Q2014 was $78,000. At the same time, Lifelogger achieved higher cash via the sale of 841,000 shares priced at just $0.60. Even in June 2013, the company liquidated 31 million shares at $0.001. At the end of January 2015, the company hired a specialized software development consultant who will be paid a monthly compensation of $8000 in form of unregistered common shares. The service period is of six months.
The future ahead
The strategic plans of Lifelogger Technologies Corp (OTCMKTS:LOGG) certainly seem promising. However, the only concern is with the time of execution. The company is known for delaying its projects and has faced hard time to keep up with its commitments. As of now, the company said that it intends to launch is new product for beta testing in 2Q2015. It remains to be seen if the plans are executed at the right time or not.