Lifelogger Technologies Corp (OTCMKTS:LOGG) is continuing to move up in recent trading after a test of support under $0.35. The stock has not performed well since the highs over $0.70 it saw towards the end of last year.
In recent news LOGG appointed Philip van Nedervelde to its Advisory Board to actively reinforce and support LifeLogger’s executive team in roles including that of Senior VP of Design and Chief Evangelist.
A passionate pioneering lifelogger avant la lettre, Philip van Nedervelde is an award-winning, 6-fold multilingual all-round communications and international business development executive with over 25 years of excellence as a designer of interactive media user interfaces and content, media strategist, spokesperson, networker extraordinaire, sci-tech visionary and advocate, inventor, and public speaker.
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.
Currently they are 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.
According to the 10Q LOGG filed on November 10 they have just under $250,000 in the treasury and they have done $272,000 in revenues for the 9 months ended September 30, 2013 said to be derived from a licensing agreement the Company has in place in Hong Kong.
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The wearable camera market has exploded in recent years with the Google Glass initiative, VUZI M100 Smart Glasses and GoPro, the leader in this new and exciting field that recently saw an extremely successful IPO running from $28.65 to close to $100 a share.
With all this attention on the wearable camera market it was only a matter of time before a penny stock jumped on the bandwagon; enter LOGG maker of a Lifelogger, a fully hands-free, 5-megapixel wearable video camera that incorporates video, voice, text, and facial recognition into the camera, to fully immerse the user and others into a POV experience.
The Lifelogger camera will have the ability to electronically link to the Company’s proprietary cloud-based software solution that can be used by any compatible Android/ IOS device on the market. Many investors suggest this is where the real value in the Company lies.
LOGG was formed in January after the name change from Snap Online Marketing Inc. Immediately after the merger the Company affected a 10 for 1 forward split of the stock.
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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LOGG made a big move in the last few months of last year but has fallen off significantly since then. As I have said from the beginning the Company lacks real fundamentals and could drop lower over the long term.
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Disclosure: we hold no position in LOGG either long or short and we have not been compensated for this article.