Lifelogger Technologies Corp (OTCMKTS:LOGG) is one of the famous OTC firms that has ambitious objectives, but insufficient funds to turn those objectives into reality. The company reflects a substantial marking that comes from a paid stock promotion.
There are a number of indications that confirm that it belongs to a group of poor performing companies. Lifelogger is no different from Mobile Lads Corp (OTCBB:MOBO) and IFAN Financial Inc (OTCBB:IFAN) as three of the companies have few to no employees, a dismal balance sheet, restricting in recent time, stock dilution and ambitious objectives.
The dismal performance
Lifelogger’s financials are far away from being strong as the company just has $214,000 in cash. There is no strength of employees as it has just one full-time employee. Another disturbing element in financial is the more than 60% of the Lifelogger’s common stock is held by a third-party named as Consumer Electronics Ventures Corp.
The concerns don’t stop here as upon searching for the third party; the user is directed back to company’s filings. Further in its last report, the company claimed to utilize $1,708 for its operating activities, which seems to be an inadequate expenditure base for the advanced technology that the Lifelogger claims to be working on.
As per the last filed 10-Q, Lifelogger Technologies Corp (OTCMKTS:LOGG) is working on a video camera that is said to be wearable on head. It works on the concept of the true point of view recording. The wearable can either click pictures or record videos of a user’s activities.
Lifelogger also confirmed that it is redesigning a prototype wearable video camera that will be used with an attachment to obtain true POV recording. It will have one-touch dedicated controls that can be used with ease on Android and IOS apps and devices. It can seamlessly link to a cloud-based system and process and organize data.