Lifelogger Technologies Corp (OTCMKTS:LOGG) filed Form 8-K in May wherein it disclosed the entire development plans of the company. It stated itself as a growing lifelogging software firm that is pushing the envelope of how individuals can record, recall, store and relive the memories of their life. The company reported that there two products under development. The first one is a cloud-based software system that can be accessed with any iOS/Android device available in the market. Coming to second product, it is an innovative POV wearable video camera.
Lifelogger stated that as the investment considerations revolve around developing these two state-of-the-art products. The company recently enhanced its focus and deployment of resources on finalizing the innovative software solution. It intends to separately market and commercially use products, the wearable video camera and software solution, in a numerous formats including third entities on a white-label license basis and in Android and iOS applications.
The company stated that it has potential to capture considerable market share in the budding Lifelogger industry. For the purpose, it is in talks with third party wearable camera makers for its software system. It is even looking for potential joint ventures and strategic associations.
The wearable camera
Lifelogger reported that it recently concluded a new prototype of its innovative device. It is a smaller wearable camera that comes with most advanced features. The company engaged MM Solutions, a leader firm in the industry of consumer electronics cameras, with extensive expertise in audio, video and mobile imaging to develop the new prototype.
The prototype with advanced features is presently under testing process and the developments are being showed to potential distributors, joint venture partners and OEM customers.
Lifelogger Technologies Corp (OTCMKTS:LOGG) lost 5.10% in the last trading session and closed below the range established in the last two sessions. The volume of the day at 1.3 million was a bit higher than the daily average of 800,000 but more interesting was the structure of the daily candle with the final closing price of $0.4650 being almost the same with the opening price of $0.4600, making it almost a Doji or a Turning Top. Both the patterns suggest indecision and lack of momentum. The level around $0.40 can be testes in the short term and the bears may remain in control.