Lifelogger Technologies Corp (OTCMKTS:LOGG) announced that it received approval notice from OTC Markets Group, Inc. for continue trading on the OTCQB platform, effective February 25, 2015. The approval notice confirms that the company has submitted all the required documents and met all necessary guidelines for continued listing on the OTCQB platform.
The OTCQB platform is an important marketplace for OTC-traded firms like Lifelogger. These companies report to the SEC. The OTCQB marketplace has replaced OTC bulletin board as the standard platform for the large number of OTC firms. Recently, OTC markets formulated new eligibility standards for firms to continue trading on the OTCQB platform. The objective of new guidelines was to improve information flow to investors. The companies that fail to meet new criteria within the given time will be downgraded to OTC Pink.
The positive impact
The news of continued listing was cheered by investors. The share price of Lifelogger stocks surged more than 12% to close at $0.718. The high for the day for $0.79 and low made was $0.64. The jump in share prices came at a healthy volume of more than 2.89 million. Stew Garner, the CEO and President of Lifelogger stated that the company is pleased to get an approval notice from the OTC markets. The company will continue to list on the respected and transparent OTCQB marketplace. The focus of management is on executing the ambitious strategic plan for FY2015. The primary objective is to further create value for shareholders.
The other news
Lifelogger Technologies Corp (OTCMKTS:LOGG) announced the appointment of Mr. Philip van Nedervelde to its advisory board in January 2015. He will take on the roles of Senior Vice President of Design and Chief Evangelist. Also, the company is expected to launch its wearable camera in 2Q2015. The only concern with the release is problem of the company in keeping up with its announced deadlines.