[Dolly Llama]

The company is now delinquent on the 2022 fourth quarter report as well.

[Power of Emouna]

So much for this PR from LCLP!? https://www.lifeclips.com/news/life-clips-responds-to-blatantly-false-and-misleading-social-media-statements/

I wonder if they detached themselves from BELFRICS to now be able to file the last 2Q's & 10-K to become current again and then come out with news saying they found a solution to raise the necessary capital to buy back Belfrics after becoming current again. They might pull something of that sort. That is my gut feeling we'll see!! $LCLP

Quote: LCLP acquired the Belfrics entities intending to enter the blockchain and cryptocurrency industry. At the time, the companies planned an aggressive expansion and scalability of Belfrics' operations. Due to the nature of the cryptocurrency business and the multiple jurisdictions Belfrics was operating in, Life Clips encountered numerous delays in completing its quarterly and annual filings on a regular basis. These delays affected Life Clips' ability to raise the necessary capital for Belfrics, which in turn affected its overall operations.

[Anthonyb]

Praveen in on it too. You should hear what his former employees say about him. There’s a reason he’s not listed as the ceo in the Belfrics India business registration

[TraderThew]

I am interested in action. If anyone is doing any work to advocate for shareholders, or previous shareholders, let me know. Not just talk. Action. These directors have really messed up, because I am not the one they want to give hobby ideas to.

[Jronpar]

Thanks! Grinberg and Rudman should face jail time IMO

[TraderThew]

SEC complaint form and Whistle blowers link:

--  https://www.sec.gov/oiea/Complaint.html

--  https://www.sec.gov/whistleblower

To report issues with "virtual currency" products companies:

https://www.consumerfinance.gov/complaint/

For industry insiders to report:

https://www.consumerfinance.gov/enforcement/information-industry-whistleblowers/

FTC fraud report, for US citizens to report any consumer concerns:
https://www.ftc.gov/about-ftc/contact

[Xylan]

Looking like trip 1’s coming in the next 4-7 trading days…

[Anthonyb]

I think they will pull this out of expert market now. Probrably good buy if you could buy in Canada on expert market

[Power of Emouna]

Yes I remember when they announced a reverse split twice and then cancelled it! The stock ran hard after they cancelled it the 1st time. I was in the run from 0017 to 0.02$ then sold continued it's upward trend to 0.073$ and then ever since came down. I then rebought approximately 2 months ago to average 00128. I'm holding a lot of shares so at this point only looking to break even and move on. $LCLP

[Anthonyb]

Don’t get greedy with this. Sell on the pump because every pump they will dilute on. You should have a chance to make your money back. I’ve know about this company since March 2021 when they bought lifeclips. They announce a reverse split 5 days before Belfrics merger. They have a tendency to do things to drop share price big time and then right after announce some news so it will go up big time

[Filtersnitch]

Yep.

[Power of Emouna]

Anyways let's see what happens next after they become current again! At this point I'm only looking to recuperate my investment. My average price is 0.00128.

[Anthonyb]

Yeah but birds of the same feather tend to flock together

[Power of Emouna]

Nothing odd about that! These things happen all the time in the real buisness world that through acquaintances people do buisness deals!! $LCLP

[Anthonyb]

This was all planned. Most people don’t know that Praveen and Dr. Gopishetty register the business Belfrics Canada together 4 months before lifeclips bought Belfrics. So they both knew each other before lifeclips merger. Isn’t it odd that lifeclips buys two companies whose ceo have a relationship Before he buys them both

[Power of Emouna]

Their cognitive-app website is not fully functional. When you click on try now you get a message that the site can't be reached! What's interesting though is that they haven't diluted a single share the last couple of months. The SS has been the same.

https://cogapps.com/

[Anthonyb]

They will either try to start pumping cog apps for Lclp or another merger. That was just bs in my opinion to build volume so they could dilute. Cog apps suck I used their app and it was horrible. The thing never changed in a year . Said same thing everyday

[Power of Emouna]

I wonder what will happen with the supposedly spin-off of cognitive apps now that BELFRICS is no longer part of LCLP? Most likely that also will be cancelled. $LCLP

[Anthonyb]

They are gonna file with $0 revenue get pink current Robert Will probably resign and there will be another bullshit merger so they can finish out the dilution

[Power of Emouna]

I hear you! But the fact they dessociated from BELFRICS only as of now won't exempt them from filing that 10-K also reflecting BELFRICS?! $LCLP

[Anthonyb]

10-q are unaudited so they can say whatever they want. The 10-k is the one that has to be correct

[Power of Emouna]

If the deal was only cancelled now they still have to file the last 2Q's reflecting also BELFRICS that's how I see it!! The previous Q's in 2021 did factor income of BELFRICS. Correct me if I'm wrong! $LCLP

[Anthonyb]

She has a long list of failed company. She’s batting around 1.000 of bankrupting companies

[Anthonyb]

They don’t want to go to jail for lying about the $5 million revenue they claimed to pump the stock. They had to show that on the 10-k and couldn’t. No auditor would sign off on false statements so they think they can just walk away from Belfrics keep all the money and no trouble.

[Filtersnitch]

It always is with Victoria.

[Power of Emouna]

To cancel BELFRICS acquisition retroactively on the basis of having it difficult to file financials because of the nature of cryptocurrency business & multiple jurisdictions is total BS. They knew that from the start!
Quote: LCLP acquired the Belfrics entities intending to enter the blockchain and cryptocurrency industry. At the time, the companies planned an aggressive expansion and scalability of Belfrics' operations. Due to the nature of the cryptocurrency business and the multiple jurisdictions Belfrics was operating in, Life Clips encountered numerous delays in completing its quarterly and annual filings on a regular basis. These delays affected Life Clips' ability to raise the necessary capital for Belfrics, which in turn affected its overall operations.

Most recently, LCLP’s PCAOB auditor resigned, citing lack of resources and expertise related to Belfrics’ multi-jurisdictional digital assets. The circumstances surrounding the FTX bankruptcy have provided additional difficulties in identifying any alternative auditor to complete Life Clips' annual audit, which has prevented the Company from filing our Form 10-K for the year ended June 30, 2022 and subsequent quarterly filings.

As a result of all the above, Life Clips and Belfrics believe it is in the best interest of their shareholders to mutually rescind their original transaction.

https://www.globenewswire.com/news-release/2023/02/03/2601601/0/en/Life-Clips-and-Belfrics-enter-into-Mutual-Rescission.html

[Power of Emouna]

Ya cognitive-app website is messed up & non functional. Everything turned out to be a mess with LCLP! Was not expecting that! Let's see what kind of excuse they will come up with regarding the spin-off of cognitive app. Not convinced that will happen either! LCLP

[Power of Emouna]

These were the details at the time of acquisition. There was also an offering of 1 billion shares @ minimum price of 0.001$ to raise capital after the acquisition. If I'm not mistaken the average selling price of that offering was around 0015 the lowest! I'm assuming if the deal was cancelled retroactively all the shares issued should be reverted back and cancelled lowering the outstanding shares or to give those shares as compensation to shareholders on a pro rata basis depending on how many shares each one owns in respect to the O/S! Not sure what should be done exactly but the way I see it is either the company gets those shares back upon canceling the deal retroactively & then retire them or give those shares as additional shares to shareholders on a pro/rata basis. $LCLP

https://www.google.com/amp/s/www.marketscreener.com/amp/quote/stock/LIFE-CLIPS-INC-120795818/news/Life-Clips-Inc-completed-the-acquisition-of-Belfrics-Malaysia-Sdn-Bhd-for-41-8-million-36264057/

https://www.otcmarkets.com/filing/html?id=16031285&guid=fS2-k621EjePB3h

[Jronpar]

ABSOLUTELY AGREE!

[96v]

Management needs to report EVERYTHING and another reason they’re stumbling to file.

How much did they pay for Belfrics?

How much did Belfrics pay Life Clips to be free again?

This move needs to be investigated.

[96v]

So what does LCLP own now, cogapps a broken website with no verifiable value?

Belfrics’ was all Life Clips had of real value.

I’ve seen this before in penny land.

[lakers17]

Beltronics deal rescinded. Turned out to be a total POS scam.

[Power of Emouna]

What happens to all the money they raised by selling shares to pay for BELFRICS will LCLP get that back and enhance shareholder value with that money! Very deceiving to say the least! One blow after the other! At least we know on the bright side that the company is still exists & alive and can easily file earnings to become current again and trade normal. $LCLP

[Power of Emouna]

NEWS out!
https://www.globenewswire.com/news-release/2023/02/03/2601601/0/en/Life-Clips-and-Belfrics-enter-into-Mutual-Rescission.html

BELFRICS no longer part of LCLP!

[JMoneyHoops]

$LCLP Should see 10-K & 10-Q Filings soon without this roadblock now https://t.co/lCLWMMJxhj

— JMoney💸 (@jmoney_hoops) February 3, 2023

[TraderThew]

WOW ?? WTF

[Power of Emouna]

LCLP up 300% pre market? $LCLP
https://stocktwits.com/symbol/LCLP

[SmellMyFinger]

We're probably 5th/6th+ gen shareholders, but we'll see.

[Power of Emouna]

Yes I know I meant following their filings! Hey the way I see it if they don't give a hoop about present shareholders they might not care to r/s as well. Maybe they will only care about 2nd generation future shareholders who knows! Time will tell. Let's see where they take us! GLTUA!! $LCLP

[JMoneyHoops]

Well they can’t do a R/S without current filings

[Power of Emouna]

Let's see what happens next! Hopefully all this is part of setting up for the spin-off of cognitive app! I can imagine sperating cognitive-app from LCLP and making it a separate public trading ticker is not a simple task do accomplish and takes a lot of time. Maybe their still hope for us common shareholders let's see! Whatever the reasons may be shareholders are entitled to be informed. LCLP has failed to inform shareholders & reassure them. In meantime 8M dumped at 0003 today! $LCLP

[96v]

There are a lot of penny stock swindlers and myself included hoped Life Clips management was more than that and would follow through regardless of performance.

It’s public knowledge who management is and their actions will follow them.

[Power of Emouna]

I recall someone saying they have till the end of March to file the last 2Q's and if they don't the LCLP ticker will be delisted all together and we all lose everything! Will they end up filing? Not sure! LCLP

[SmellMyFinger]

I can't argue that. The silence is deafening.

[Power of Emouna]

Now is the time for this moron to reassure shareholders. Not even 1 tweet to reassure shareholders that the filings are in the works giving a timeline. Total silence from his part! He's all BS imo! Hope he proves us wrong but until then it's smelling real bad. $LCLP

Even their cognitive app website seems to be all BS. When you click on try now for any services you get a message that the site can't be reached! What kind of BS is that? Here see for yourself! Try clicking!!

https://cogapps.com/

People are now dumping 0003 unreal! What's next 0001 followed by a reverse split?!?

[SmellMyFinger]

Agreed. I've been long and strong for ages.

[Power of Emouna]

Ya hopefully but doesn't seem like they have a new accounting firm to file yet. On OTC still shows the old accounting firm. The firm that resigned! $LCLP

This is the filing when they resigned:
https://www.otcmarkets.com/filing/html?id=16274668&guid=0b2-kFooDQY_dth

OTC still shows Accell Audit & Compliance, P.A as their service provider. So my guess since they haven't filed their new accounting firm via an 8K with OTC most likely means they still don't have another accounting firm to complete the accounting of the last 2Q's this is my educated guess! Hope I'm wrong though. That being said could take another 1-2 months till we get out of this mess that's if they file all together. Hope we're not all screwed with this ticker! I don't like the silence towards shareholders. CEO hasn't said a word to reassure shareholders. Not even 1 tweet on Twitter. Really sucks!

This is what shows on OTC as service provider.

SERVICE PROVIDERS
Accounting/Auditing Firm
Accell Audit & Compliance, P.A
3001 North Rocky Point Drive East

https://www.otcmarkets.com/stock/LCLP/profile

Suite 200

Tampa, FL 33607

According to the CEO the filings were near completion already back on Dec 12, 2022 as per his tweet but seems like he lied to shareholders on that so don't trust his words!


Quote: Tweets & replies
Media
Likes
LifeClips’s Tweets
LifeClips
@realLifeClips
·
Dec 12, 2022
$LCLP Today's news is not only a major step in our work & relationship w/ India's healthcare system,but shows the potential of our blockchain beyond the crypto world. Our filings, which can be delayed by our int'l subs, are near completion for year end and Q1. Updates to follow.

https://mobile.twitter.com/realLifeClips

[SmellMyFinger]

Hopefully it happens soon. Thanks for the information.

[Power of Emouna]

After they file the last 2 quarter earnings and regain pink limited status! Until then they remain in Expert Market. $LCLP