The debt low cost is being amortized over the time period of the convertible debt. The condensed interim financial statements have been ready on a going concern foundation, which contemplates continuity of operations, realization of belongings, and liquidation of liabilities in the normal course of enterprise. This press release contains forward-looking statements that contain risks and uncertainties regarding the plans and expectations of Lifelogger Technologies, Inc. to supply progressive wearable know-how and related software program applications and its expectations for future revenues. Actual occasions or results might differ materially from those described on this press launch due to a number of risks and uncertainties. The potential risks and uncertainties embrace, amongst others, that the anticipated success of our know-how will not be as anticipated.
Both Options intended to qualify as Incentive Stock Options and Nonstatutory Stock Options may be granted under the Plan. Liquidity is the ability of an enterprise to generate adequate quantities of cash to satisfy its wants for money requirements. As of June 30, 2018 our working capital deficit amounted to $2,743,251 a rise of $720,953 as compared to $2,022,298 as of December 31, 2017.
Further, we cannot assess the impression of every such factor on our results of operations or the extent to which any factor, or combination of things, may cause actual outcomes to vary materially from these contained in any forward-looking statements. The related derivative liability of $7,437, as disclosed in Note 6, was transferred to the additional paid-in capital in the course of the interval ended June 30, 2018. On June 9, 2016, the amended Old Main notes offered the holder with a variable fee conversion feature. This characteristic taints all warrants/notes and ongoing by-product remedy is required until the observe is paid or converted in full. Deferred tax assets and liabilities are measured using enacted tax rates anticipated to use to taxable revenue within the years by which these short-term variations are anticipated to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is acknowledged in the statements of operations in the interval that includes the enactment date.
“Grant Date” means the date upon which an Award is granted to an Awardee pursuant to the Plan. Reduction in the Participant’s base wage, until, with the settlement of the Company’s govt management, such reduction is a half of a broad-based discount for Employees and/or Officers of the Company. “Awardee” means an Employee, Officer, Director, contractor, consultant, or advisor of the Company or any Affiliate who has been granted an Award underneath the Plan. The wearable digicam market has exploded in latest years with the Google Glass initiative, VUZI M100 Smart Glasses and GoPro, the leader in this new and thrilling subject that lately noticed a particularly profitable IPO operating from $28.sixty five to close to $100 a share.
Notwithstanding anything on the contrary in the Plan , to the extent that a Participant holding an Award that constitutes a “deferral of compensation” beneath Code Section 409A is a “specified employee” , no distribution or fee of any amount shall be made earlier than a date that’s six months following the date of such Participant’s “separation from service” or, if earlier, the date of the Participant’s dying. Applicable Law shall embody, with out limitation, any rule, regulation, order, directive, or interpretive steering from a governmental company or authority, unless otherwise provided within the Plan or an Award Agreement. Other bills for the nine month period ended June 30, 2018 elevated by $399,218 in comparison with the six month interval ended June 30, 2017, because of a big increase in interest expense because of our convertible notes payable being in default effective October 1, 2017. This observe is a spinoff because it contains an embedded conversion feature that resets the conversion worth upon a elementary transaction event. The Company recorded a debt discount primarily based on the original issue low cost, the embedded by-product, and the derivative warrant issued.
Clarification on stock-based compensation – In May 2017, the FASB issued accounting steerage to make clear which changes to the phrases or situations of a share-based payment award require an entity to use modification accounting. The guidance is effective January 1, 2018, with early adoption permitted. The adoption did not have a fabric influence on our monetary statements.
Under SEC laws, we’re required to reveal our off-balance sheet arrangements which have or are fairly prone to have a present or future impact on our monetary situation, corresponding to changes in monetary situation, revenues or bills, results of operations, liquidity, capital expenditures or capital sources which may be material to buyers. As of June 30, 2018, we now have no off-balance sheet preparations. We have been in the development stage since our inception on June 4, 2012 and continue to incur important losses. We had an accumulated deficit of $6,776,990 as of June 30, 2018 and $544 in money was utilized in operating actions. In addition, the Company is in default on convertible debt obligations of $1,103,732.
This by-product legal responsibility is marked-to-market every quarter with the change in truthful value recorded within the assertion of operations. Unamortized discount is amortized to curiosity expense utilizing the effective curiosity methodology over the life of the Convertible Note. The fair worth hierarchy gives the best priority to quoted costs in lively markets for similar belongings or liabilities and the lowest precedence to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall inside a couple of degree described above, the categorization relies on the bottom degree enter that’s significant to the fair value measurement of the instrument. The Company’s evaluation of the significance of a specific input to the truthful value measurement in its entirety requires judgment, and considers elements specific to the asset or legal responsibility including sure market assumptions and pertinent data obtainable to management.
I love being a part of building Narrative right into a beloved firm by users, employees and companions. I attempt to create the most effective person experience in numerous consumer touch point and channels. For example, the interface within the cellular app, on the website or when utilizing the Clip itself, I attempt to make it right into a coherent expertise that matches peoples wants and expectations. The means I do this is to incorporate plenty of qualitative and quantitative analysis into the product development and attempt to bring users’ voices and opinions into the company tradition. I help staff prioritize future work to enhance the entire buyer product experience. I’m the guy who constructed narrativeapp.com where you view all of your uploaded photos via our net utility.
“Employee” means a regular, active worker of the Company or any Affiliate, including an worker who’s an Officer and/or Director. For purposes of this Section 2, if any Person, or more than one Person appearing as a bunch, is taken into account to effectively control the Company by advantage of their existing possession of excellent Common Stock or excellent Company voting securities, the acquisition of further control of the Company by the same Person or Persons shall not end in a Change of Control. With all this attention on the wearable camera promote it was only a matter of time before a penny inventory jumped on the bandwagon; enter LOGG maker of a Lifelogger, a fully hands-free, 5-megapixel wearable video camera that comes with video, voice, textual content, and facial recognition into the digicam, to totally immerse the user and others into opco des entreprises de proximit� france company description a POV experience. Following the launch of our personal beta model of the LifeLogger platform in August 2015 to users who expressed interest for exclusive testing with their iOS and Android gadgets, we launched an open public model through the first quarter of 2016. This launch has the first value proposition inbuilt with geo-coordinates, face detection, playback with interactive map, social engagement options that allow simple sharing and talent to “like” different postings. Among the uses of our platform are the flexibility to share a video of a customer’s vacation in Europe with others that is integrated with an interactive map displaying the viewer where the video is taking place, allowing the viewer to seamlessly switch to the map view and even present additional views of these places and different media taken by different folks close by.