Yesterday I tried again to contact David Kugelman, and this time I got a reply:
From: xxxxxxxxxx
Thursday, January 25, 2018 11:55 AM
To: dk@atlcp.com
Subject: Life Clips
Hello again, David,
I moderate the LCLP board on IHub, and readers would love to know if there is any news that you can share with our IHub readers concerning Life Clips. The last we knew is that Huey Long is out as CEO and Victoria Rudman is running the show. Readers are concerned that neither she nor you have been replying to recent emails. Is there anything that you can share with us? It would be greatly appreciated.
Thanks,
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Reply
David L. Kugelman <dk@atlcp.com>
Thursday, January 25th, 2018 6:36 PM
xxxxxxxxxx
There is no news. No good news, or bad news. Atlanta Capital Partners’ contract for IR expired on December 28, but I’m still in touch with what’s going on there, so feel free to check in with me if you need an update. I believe the toxic noteholders who drove the stock price down are out of the picture. The longer term noteholders have continued to fund the company. I spoke with one of the investors the other day and they put more money in to pay the auditor. I don’t know what’s taking so long on the audit, but my guess would be money owed to the auditor and derivative calculations on all of the outstanding debt LCLP has.
Their business plan failed, they’re out of money, they have a couple of million in debt and the stock is $0.0002. The only way I can see anything happening here is to bring in new management with a new business plan. In order to do that the company is probably going to have to be totally recapped, which is probably not going to be good for existing shareholders. This is just my opinion and you’re welcome to share it with the other investors.
