lifeloggers

Lifelogger Technologies Corp (OTCMKTS:LOGG) Posts Gain Of More Than 11%

Recently, the share price of Lifelogger Technologies Corp (OTCMKTS:LOGG) has been performing pretty well. After touching lows of $0.395 in January, LOGG prices began to surge. By the end of February, the stocks posted gains of more than 80% having closed just three sessions in the red zone during the month.

The financial performance

Lifelogger’s market capitalization of more than $50 million is not backed by strong financial performance. As per the last report covering the quarter ended September 30, 2014, the company had a cash of $248,000. The current assets and current liabilities stood at $265,000 and $84,000, respectively. The revenue in the quarter came at $92,000 whereas net loss was $18,000.

Poor show

The financial figures are not sound, especially when the discounted stock has witnessed several private placements. It is important to mention that 417,000 shares were offered for $250,000 whereas other 425,000 were issued for almost $255,000. Also, 31 million shares were issued for just $31,000 in June 2013. A thorough calculation of share prices reveals that each of them was sold for just $0.001. It is a massive discount, considering the fact that Lifelogger’s share crossed the 50% per share mark in mid-February, and from thereon has continued to rise.

Close watch

The surge in Lifelogger Technologies Corp (OTCMKTS:LOGG)’s stock price can at decent volumes, as some 2.27 million shares exchanged hands on Wednesday’s trading session. LOGG share price surged more than 11%to close at $0.657. It appears that the share price of Lifelogger won’t stop here as it is already up more than 80% in last one month. However, considering the financial performance of the company in the last quarter and its market capitalization of $50 million, caution should be exercised at this time. The appointment of Mr. Philip van Nedervelde to the company’s Advisory Board is considered as a positive development by the investors.

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