Recently, the stock price of Lifelogger Technologies Corp (OTCMKTS:LOGG) witness some extremely volatile trading sessions. In just three trading sessions the stock price eroded 70% of its market value as it declined from level of around $0.50 to less than 17 cents. After recording such a sharp decline, the stock price bounced last Thursday to recover some of its losses. In yesterday’s trading session, it declined 1.16% to close the trading session at $0.340.

The momentum

Since last Thursday, the stock has not recorded any major movement either ways, but that doesn’t indicate that all is well with Lifelogger stock. The stock is looking weak from last three trading sessions and posting small losses. Interest also seems to be waning with the daily volumes hardly exceeding 600,000 shares compared to the average share volume of 1.14 million shares. The concerning part is even after the sharp decline recorded in past few days, the market cap stands at over $27 million.

The performance

The market cap of Lifelogger Technologies Corp (OTCMKTS:LOGG) cannot be justified considering the dismal fundamentals of the company. As per the latest quarterly report released at end of March, the cash balance with the company was just $81,000. The current assets were no more than $89,000 while current liabilities stood at $55,000. The revenue in the quarter was $0 while net loss was $290,000. Even if the amount of $150,000 obtained through the sale of its 348,000 shares priced at $0.43 is included, the financials do not support the market valuation.

The future ahead

Lifelogger Technologies Corp (OTCMKTS:LOGG) needs to seriously work on its product and operations to fetch attention of investors. The company has a dismal record of missing its announced deadlines. It has failed to update investors with any launch date of its wearable camera. The corporate presentation issued on May 19, 2015 just informed that the final prototype is well on its way for testing.