Lifelogger Technologies Corp (OTCMKTS:LOGG) annual report has turned into a nightmare for the company as the company’s stock price has been declining since the beginning of April. The stock price tried hard to recover the losses, but all the efforts seem to be in vain.
Even on Friday’s trading session, the stock price declined another 0.96% to close the trading session at $0.495. The decline came at a share volume of 316,658 lower than the average share volume of 631,476. The market cap of Lifelogger stands at 40.79 million. The one year high for the stock is $0.88 while the 52-week low stands at $0.33.
The performance
The performance of Lifelogger stock after the submission of annual report came as a huge disappointment for shareholders. The financial numbers were not so bad to result in a sudden decline in stock price.
As per the 10-K, Lifelogger reported cash of $238,000 and $346,000 in total current assets. The total current liabilities came at $38,000. The net loss was $185,000 while the yearly revenue was $350,000. The numbers are modest as Lifelogger don’t have crushing debt and the annual net loss can be justified.
The expectations
The decline becomes all more disappointing when the investors expect that Lifelogger will launch its products by end of 2Q2015. As soon as the products are launched, the company will have a healthy balance sheet. Even the number of new shares released in the market in last one year is minuscule indicating that it is worth investing in the stock.
The only thing that can turn against the company is delay in the product launch. If it happens, it will be a big disappointment for investors as well as shareholders. Lifelogger operates in a growing industry and reported strong numbers. It has a market cap of more than $40 million.
