Lifelogger Technologies Corp (OTCMKTS:LOGG) is Still Active

Lifelogger Technologies Corp (OTCMKTS:LOGG) experienced a pretty terrible fall between May 14 and May 18 when it dropped from over $0.52 per share all the way to less than $0.17. Plenty of people were quite disappointed with the performance and we can’t really blame them. After all, the stock lost nearly 70% of its value in a matter of just three sessions.

Small Cap Traders saw that and they decided to write a short research report. They didn’t focus too much on the horrific performance, but they did give the stock a Sell rating. Those who followed their advice might be feeling a bit grumpy at the moment. After the disastrous drop LOGG managed to register three consecutive green sessions and it soon found itself pretty close to the $0.40 mark. It did slip a little on Friday and it’s now sitting at $0.35, but the volumes appear to be healthy which goes to show that some people are still willing to trust LOGG with their money.

So, LOGG is still an exciting stock and the bounce should show you that listening to research reports and heeding to every advice you see on the internet might not always be your best call. But can the ticker maintain its current momentum and continue on its way up?

The fact that the stock has demonstrated its ability to wipe out 70% of its market cap in a matter of just three days should warrant some extra caution. We all know that penny stocks tend to be volatile, but despite this, most display a much more consistent performance.

You also have to take into consideration the reason for the terrible crash. It lies with the 10-Q for the first quarter of 2015. The figures look like this:

  • cash: $81 thousand
  • current assets: $89 thousand
  • current liabilities: $55 thousand
  • NO quarterly revenues
  • quarterly net loss: $290 thousand

Not exactly the confidence-inspiring figures you want to see, and there isn’t any news to suggest that things are getting better. The latest press release, for example, hit the wire almost three months ago.

Then there’s the fact that the management team tend to be a bit too ambitious with the deadlines. When they were attending the CES 2014, they said that the cameras should be available to the general public in July of last year. That didn’t happen and the launch date was later pushed back several times. Right now, we’ve no idea when LOGG want to start selling the cameras, but we do know that they have set themselves the task of commencing the testing of their mobile applications before the end of Q2. In other words, they have about a month to do it.

The clock is ticking.

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