Lifelogger Technologies Corp (OTCMKTS:LOGG) is making a highly explosive move up on massive volume after the stock reversed off $0.0651 lows. The move up comes after LOGG announced a number of strategic initiatives that have resulted in a five-fold increase in website traffic and a quickly growing wait list for its online video service.
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 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.
Pixorial is a personal photo and video sharing platform that includes functionality to organize and discover all the media from a person’s life so they can enjoy it how they want. Pixorial is capable of delivering a universal service for collecting all the photos and videos from life experiences – media that may be scattered across a variety of services, devices, and people. With Pixorial, users will be able to store the media that matters to them in their private cloud which they will be able to access from anywhere.
On February 17 LOGG announced it has become the first media platform that is completely device agnostic. With the current weakness in the wearable camera market, LifeLogger’s team focused its efforts on making its applications compatible with all the major wearable cameras in the market today. A GoPro-compatible mobile app is already in testing and development of other mobile apps has begun for other device manufacturers. Furthermore, LifeLogger continues RD on a camera of its own, with a working headset prototype currently ready for internal use and testing.
LOGG said the Company has transformed into a data-driven customer-focused engine. LifeLogger has made significant changes to its product, marketing, and analytics to gain a data-driven understanding of user growth and customer engagement. In addition, the team has also began incorporating best practices from its Pixorial acquisition into its marketing and customer engagement efforts.
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Currently trading at a $20 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. As well their video management cloud based storage system has entered the private beta phase of its development. 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.
Disclosure: we hold no position in LOGG either long or short and we have not been compensated for this article.