Lifelogger Technologies Corp (OTCMKTS:LOGG) has just been restored to the OTC markets and is expected to resume trading. Unfortunately, the recent suspension of the company has led to distrust between the shareholders and the company. The analysts even believe that the investors do not believe that the company has any prospect of generating profits in the near future.
Lifelogger is the maker of lifelogging cameras, but due to recent decline in sales and revenues, the company has experienced regular crashes in the stock market. As per most experts there is an imbalance between the company’s sales and the market cap. Additionally, the senior management seems to have no plans to make recoveries. When asked for comments on the current state of the company, no senior member came forward with a reply.
LOGG’s March 31 report showed that the company has just about $81,000 in cash, zero revenues and a net loss of $290,000. As much as these numbers are depressing, the company is expected to face an even worse situation in the coming quarters. Without proper restructuring of the company’s business model and finances, LOGG cannot expect to move up. The company is currently in the process of developing a novel body camera, which can capture, store and recall life memories.
The device is approaching hardware completion, which Lifelogger says has been outsourced to a leading consumer electronics provider. The company expects to begin production by 1Q2015. Additionally, LOGG is also developing a cloud based platform to store and recall the captured memories. As per the reports from the company there cloud system would be able to store and recall videos, even in 3D, apart from allowing geo-tagging, video stabilization and video timeline. Although the company is in the very profitable market of wearable body cameras, the depressing balance sheet has been keeping investors at bay.
Lifelogger Technologies Corp (OTCMKTS:LOGG) experienced trading of 662,162 shares during the June 22 session. The stock closed at as share price of $0.289, after losing 5.25% from its share value.