Lifelogger Technologies Corp (OTCMKTS:LOGG) continued to decline on huge volume after it surpassed previous highs in last month. The stock declined more than 7% to close at $0.655 in last trading session. On January 28, Lifelogger welcomed Philip van Nedervelde to its Advisory Board to support and reinforce executive team in new roles.
Lifelogger states itself as an emerging wearable video and software firm that is developing the way people access, store, capture and recall life memories via its POV wearable video camera. The company is working on the hardware design and soon expects to launch the product in the market. It is working in association with a leader company in the segment of consumer electronics cameras to commence serial production in 1Q2015. Also, it is upgrading existing cloud based system for managing, storing and displaying videos. The various features that are in focus are 3D video timeline, Video Stabilization, social sharing, live streaming, voice detection, OCR, face detection, Geo Tagging and Custom in video tags.
As per the last report filed in November, Lifelogger Technologies Corp (OTCMKTS:LOGG) has less than $250,000 in the treasury. The revenue in the first three quarters ended September 30 came at $272,000. A major part of revenue was derived from a licensing deal Lifelogger has in place in Hong Kong. The company wants to benefit from the wearable camera segment that has exploded in past few years with the innovative glass initiatives and smart glasses.
The future ahead
With all this hype surrounding the wearable camera market, it is only a matter of time before Lifelogger becomes a growing part of the industry. The product of the company will have a feature to electronically connect to Lifelogger’s cloud-based software solution. It can be accessed by any compatible Android and IOS device. It is the key area where the real value of Lifelogger lies.