Life Clips Inc (fka LCLP)

[Dolly Llama]

In order to remain on the OTCQB the company is going to need to get the pps back up to .01 within the next few months. Once falling below .01 per share, OTCQB companies have a grace period of 180 days in which to regain and maintain a closing bid price of .01 for ten consecutive days. We have been below .01 since the end of April. So depending on how the rules are interpreted, we have until the end of October or November to get the pps back up if we are to stay on the OTCQB.

I would imagine this is a high priority for the company, and I'm confident we can do it. New management has taken the company in a very good direction.


OTCQB ongoing requirements

"All OTCQB companies must meet the minimum bid price of $.01 per share at the close of business of at least one of the previous thirty (30) consecutive calendar days; in the event that the price falls below $.01, the company will begin a grace period of 180 calendar days to maintain a closing bid price of $.01 for ten consecutive trading days;"