Lifelogger Technologies Corp (OTCMKTS:LOGG)’s Recovery Continues
Lifelogger Technologies Corp (OTCMKTS:LOGG)’s bounce continued in yesterday’s trading session when the company managed to climb another 42.86% up the charts on a heavy dollar volume.
The disastrous crash that the ticker is currently recovering from was caused by a combination of bad publicity afforded the company by a SeekingAlpha article, and the attention said bad publicity drew to the mediocrity in LOGG‘s latest financial report:
- cash $81 thousand
- total current assets $89 thousand
- total current liabilities $55 thousand
- NO REVENUES
- net loss $290 thousand
One could argue that the correction in LOGG‘s price per share was warranted by the company’s unsatisfactory performance – both financially and commercially. Put quite simply, LOGG appears idle. Private beta testing of the company’s software platform was supposed to begin by the end of January, and an open beta test was to follow in May. Nothing of the sort has happened yet, and if the company’s announcements are any indication, it will not happen any time soon, either.
As for LOGG‘s flagship product – the actual wearable camera – the company claims that its prototype is ready for testing, but there is no evidence backing that claim and no reliable information on said line of business is available.
In spite of all these red flags and the fact that the company’s market cap once more approaches $30 million, the ticker is currently headed up. Investors should note that well, and act accordingly.
