Lifelogger Technologies Corp (OTCMKTS:LOGG) saw a recent surge in price and volume in the last trading session since reversing off $0.0101 lows. LOGG ran big earlier this year off $0.01 lows to highs near $0.29.
LOGG was trading near $1 level earlier last year before the bottom fell out and the stock took a serious turn south. The stock has been trading on the bb’s since August of last year after the name change from Snap Online Marketing Inc., and has traded as high as $0.80 and as lows of a dime.
Lifelogger Technologies Corp (OTCMKTS:LOGG) bills itself as an emerging innovative wearable video and software company that is developing the way people capture, access, store and recall life’s unique memories through its true POV wearable video camera.
The Company is in the process of finishing the hardware design of the LifeLogger; they say are working with a leader in the field of consumer electronics cameras to begin serial production of the camera in Q1/2015. LOGG is also upgrading their existing cloud based platform for storing, managing and displaying videos. Starting with their 3D video timeline and adding Video Stabilization, Geo Tagging, Custom in video tags, Face detection, OCR, voice detection, live streaming and social sharing.
Lifelogger is in the right place at the right time; the wearable camera market is taking off quickly with new subcategories already developing; besides sports cameras there are smart glasses such as the one’s being developed by Google and the Vuzix M100. There are also action cameras and personal wearable cameras as well as law enforcement wearable body cameras such as Taser Axon and Digital Ally.
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In October of last year LOGG said it signed an LOI to acquire all assets of Pixorial Inc., a privately held photo and video sharing platform company. As per the terms of the LOI, LifeLogger will acquire all assets of Pixorial such as source code, software, trade secrets, processes, ideas, know-how, improvements, discoveries, developments, designs, techniques and contract rights related to the Pixorial app including but not limited to contract rights related to the Pixorial app for inclusion on the Apple store and the Google Play store. LifeLogger will issue 3.2 million shares of its unregistered common stock to the shareholders and certain creditors of Pixorial. The Definitive Agreement is expected to be signed by mid November 2015 and is subject to closing conditions. Recently LOGG completed the acquisition of the registered trademark “What’s Your Story?”® and the 620,000 customer list from Pixorial. . LifeLogger will issue 2,600,200 shares of its unregistered common stock to the existing shareholders and certain creditors of Pixorial.
On July 18 LOGG announced the completion of three major milestones to accelerate its go-to-market strategy and path to profitability. LifeLogger has reduced its outstanding shares by almost half, secured $500,000 debt financing, and significantly improved traffic ranking of lifelogger.com.
First, LifeLogger redeemed 40 million shares of its common stock held by Consumer Electronics Ventures Corp. (“Consumer Electronics”), its former majority shareholder pursuant to the terms disclosed on Form 8-K filed with the SEC on May 18, 2016. The Company did not pay any cash compensation to Consumer Electronics for the redemption which was made in consideration of the intended increase in value of the remaining shares of common stock held by Consumer Electronics. Following the redemption, LifeLogger’s total shares outstanding were reduced to 54,411,144.
Second, LifeLogger secured $500,000 debt financing from SBI Investments LLC, pursuant to the terms disclosed on Form 8-K filed with the SEC on July 7, 2016.
Finally, traffic to LifeLogger has substantially increased thanks to its marketing efforts around Search Engine Optimization (SEO), organic growth, and adoption of its software platform. As a result, LifeLogger’s website ranking measured by Alexa.com (Owned by Amazon, Alexa ranks websites around the world based on the traffic to that site) has improved over 1 million places since the beginning of the year to its current spot of 241,429 position in the world and climbing.
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Currently trading at a $1.04 million market valuation LOGG has little real fundamentals to back it up with minimal revenues to date and little assets. But LOGG is an exciting story developing in small caps; the Company has developed cutting-edge technology at the ground floor of the fast emerging wearable camera market and they recently completed several major milestones including reducing its outstanding shares by almost half, secured $500,000 debt financing, and significantly improved traffic ranking of lifelogger.com. We will be updating on LOGG as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with LOGG.
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Disclosure: we hold no position in LOGG either long or short and we have not been compensated for this article.