Lifelogger Technologies Corp (OTCMKTS:LOGG) does not already have a completed product on the market. However, the company is hard at work to develop a wearable video camera that will function across multiple platforms, at least, on the popular platforms such as Android and iOS. The company promised to release the prototypes of the device this month, although it had given other dates for the prototype release in the past that failed to materialize. About 100 prototypes of the wearable camera were expected last month, according to Hotstocked.
Wearable camera prototype
Lifelogger Technologies Corp (OTCMKTS:LOGG)’s upcoming wearable camera is designed to give true point of view recording of video or still pictures. The device will be worn through an attachment and is expected to come with one-touch controls. The company tapped MM Solutions to help with the redesign of the prototype, which are expected out in good time to be presented at the January 2015 Consumer Electronics Show.
The company boosted its treasury in 3Q, after it performed an equity fundraiser in which it offered 417,000 shares at $0.60 apiece and generated $250,000 in proceeds. At the end of the latest quarter, Lifelogger Technologies Corp (OTCMKTS:LOGG)’s financial statement showed $248,000 in the treasury and $266,000 in current assets. It had $84,000 in current liabilities, revenue of $92,000 and net loss of $18,000.
Need for further fundraising
The company expects its expenses to hit $917,000 over the next 12 months, which means that it might have to look for other fundraising opportunities, especially from outside sources.
Lifelogger Technologies Corp (OTCMKTS:LOGG) changed its name from Snap Online Marketing Inc in January and performed a 10-for-1 stock split.
Shares of Lifelogger Technologies Corp (OTCMKTS:LOGG) have recently had an impressive rally. It appears as though there has been a cleverly done hype on the stock. But still its market cap of $53 million makes it a good candidate for promotion.
Lifelogger Technologies Corp (OTCMKTS:LOGG) is trading above 50-day moving average. Yesterday it went marginally to close up by 3.08%. The stock is currently trading above its 20-Day EMA and 50-Day SMA of $0.55 and $0.50 with RSI moving up indicating strong buying momentum. Aroon Oscillator stands at 80 which is indicative of strong uptrend in the stock.