Lifelogger Technologies Corp (OTCMKTS:LOGG) issued its financial annual report few days ago and since then the stock price has been declining down on the charts. The stock made several attempts to make a recovery, but failed to close in green.
Even, in last trading session, the stock price of LOGG declined more than 4% to close the trading session at $0.500. The decline came at a share volume of 1 million compared to average share volume of 616,283. The company’s market capitalization stands at 40.79 million.
The stock didn’t react well to the numbers contained in the annual report. The numbers were good enough to fetch positive momentum. However, it was not the case as the stock started with its fall. As per the latest annual report, the company had total current assets and cash of $346,000 and $238,000, respectively.
The total current liabilities were no less than $38,000 while the net loss stood at $185,000. Lifelogger’s annual revenue for FY2014 came at $350,000. The numbers can be stated as modest financials considering Lifelogger doesn’t have toxic debt in its books. The reaction to the numbers indicates that the market finds the market cap on higher end.
As of now, there is no news related to Lifelogger going on in the market. The last press release was the annual report back in last week of April. The investors are waiting the company to introduce its much-hyped and advanced Lifelogging products by end of this quarter of the fiscal.
The expectations are on high side and if the product manages to successfully meet expectations, the result will be visible on books. The only problem is timing of product launch. If the company fails to introduce the product in defined time, it can result in sharp decline in stock price.