A couple of months ago, the stock price of Lifelogger Technologies Corp (OTCMKTS:LOGG) declined from over 50 cents to less than 17 cents in matter of three trading sessions. It was in May when the stock price registered a new 52-week low of $0.143. From there on, the stock has managed to recoup its losses and it appears that a upward trend has been forming.
In the past few trading session, the stock has been building some base and after surging by another 10% in last trading session, the stock now trades close to $0.377 per share. It suggests that Lifelogger stock currently has a market cap of almost $29 million.
The market valuation of Lifelogger seems too stretched considering the performance of the company in latest quarter. As per the financial report released at the end of March, the company reported to have $81,000 in cash.
The current assets stood at $89,000 against current liabilities of $55,000. The reported revenue was $0 while net loss came at $290,000. The balance sheet received a $150,000 boost as the company sold 348,000 shares for $0.43 each. Still, it failed to improve the overall performance of the company.
Lifelogger Technologies Corp (OTCMKTS:LOGG) issued its last PR back in March when the company reported that its stock will continue to trade on the OTCQB Marketplace. It provided an update on the recent development during a corporate presentation. It stated that the beta testing of company’s mobile platform was delayed to next quarter of the year. The presentation failed to provide with a launch date for its much-hype wearable camera.
In last trading session, the stock price of Lifelogger Technologies gained more than 10% to close the trading session at $0.377. The gains came at a share volume of 822,982 compared to average share volume of 433,200.