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Sorry, that was my fault. I removed Mobeego from the Intro Page, and I've since restored it. I really don't know the status of our relationship with Mobeego at this point, but there have been no filings to indicate that we no longer own it. The Mobeego website still shows Life Clips. The Life Clips website is rather minimalist, and hasn't shown Mobeego since it was redesigned, I believe. However, I do notice that both the Life Clips and Mobeego webistes are copyrighted 2018.
Life Clips website
Mobeego website
Mobeego for sale on Amazon
The bottom of the Intro Page has some info about what went on in 2009 which led to SMAS going on the gray market.
This is what David Kugelman said about investors:
"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."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138022139
You're welcome, MoneyMan. Wish it were better news. We'll see what comes next. Good to know at least the toxic debt is gone. Maybe now they'll file and get current again.
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,
~~~~~~~~~~~~~~~~~
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.
We could use a shift. :0D
Lol. Imagine what $150 could do. ;0)
Somatic training class next month.
https://somatics.org/events
Or someone buy the shell.
Over the last month I've sent two emails to Dave at Investor Relations. No response.
Well that was fun! Up 3,233.33% on a $100 trade.
Congratulations, Anniedee! I've got a limit set on mine. Some of them went recently. Who knows?
13:22:55 ET volume 100,000,000 shares.
12:16:23 ET Volume 10,000,000 @ .0001
13:45:38 ET - volume 1,575,000 shares
I haven't gotten a reply from Dave either.
Thanks, Stewy. And I emailed David at Investor Relations yesterday afternoon. Still waiting for a response.
09:40:58 ET volume 800,000 shares
You're welcome, Brad!
I just wrote him. I'll let you know if I get a reply.
You're welcome!
Hey, MoneyMan,
Here is the current share structure reported at OTCMarkets:
LCLP
Authorized Shares
5,000,000,000
a/o Dec 01, 2017
Outstanding Shares
1,142,921,850
a/o Dec 01, 2017
-Restricted
32,482,667
a/o Dec 01, 2017
-Unrestricted
1,110,439,183
a/o Dec 01, 2017
Held at DTC
1,074,348,108
a/o Dec 01, 2017
Float
42,699,585
a/o Dec 28, 2016
As you can see, the reported Float figure is almost a year old.
The Authorized shares are the maximum number of shares that the company is currently allowed to issue.
Restricted Shares are shares that are held, but can not be sold until some future date.
The Outstanding Shares are the number of shares that the company has actually issued. (The company may issue any number of shares up to the Authorized Shares limit.)
The Float is the number of shares that are available for trading. From Investopedia: "Floating stock is calculated by subtracting closely-held shares and restricted stock from a firm’s total outstanding shares. Closely-held shares are those owned by insiders, major shareholders and employees, while restricted stock refers to insider shares that cannot be traded because of a temporary restriction such as the lock-up period after an initial public offering."
That means that the Float consists of shares that the company has issued, but which are not restricted, nor held by company insiders, company employees or major shareholders. The Float shares are available to trade.
So to answer your question, if a theoretical company has a current float of 43 million shares, and a regular investor owns 20 million shares, that investor owns almost half the shares that are currently available for trading.
You're welcome. I keep waiting for the sound of the gong. Not the one that means game over. The one on my investor program that means LCLP news has come in.
I got a response to the email that I sent David Kugelman of Investor Relations:
From: xxxxxxx
Sent: Tuesday, December 05, 2017 5:22 PM
To: dk@atlcp.com
Subject: LCLP
Hi David,
I was wondering if you can give us any updates concerning Life Clips (LCLP), particularly in regard to the vacant CEO position, the 10-K annual report and the 10-Q third quarter report. And may I share your reply with the LCLP board on IHub?
Thank you,
xxxxxxx
~~~~~~~~~~~~~~~~~~~~~~~
RE: LCLP
DK
From: David L. Kugelman <dk@atlcp.com>
Sent: Tuesday, December 05, 2017 7:17 PM
To: xxxxxxxxxxx
xxxxxxx
You’re welcome to share my response. Our CFO, Valerie Rudman, is working to complete the audit, just as she was before Huey resigned. I’m sure there is some cleanup after cancelling the merger with Ascenda, but the positive is we won’t need to produce two years of audited financial statements for them. I can tell you from experience that the 10-K is the most difficult, so I don’t see the 10-Q holding up the process, once the 10-K is complete. In my opinion, getting caught up on the filings is more important than a new CEO. Ms. Rudman is very capable of running the show at this point.
Glad to see they are updating OTCMarkets. Waiting now for the 10-K and 10-Q. Should be interesting!
OTCMarkets has updated the share structure.
http://www.otcmarkets.com/stock/LCLP/profile
Company website:
http://www.sttsnab.com/
I keep hoping that someday somebody will buy this shell and do something with it. But the business isn't really dead. The Nevada SOS shows Somatic Shstems Inc. as having a "Permanently Revoked" status, but the website is still active, and they occasionally offer classes. So who knows?
Welcome!
Half day until 1:00 Eastern.
No problem, Cableguy, and thank you for posting that you got a reply from David Kugelman. We sure have been waiting a long time for the filing.
Cableguy, I'm certainly not arguing that I didn't post that message. In fact, I only a few minutes ago again linked to that message which I posted. However you said that in it I said that I was told the 10-K was going to be released this week. I was not told that, and I did not say that.
There seems to be some confusion.
I'm not sure I understand your question.
Me neither.
Here's the link.
8-K Huey Long resigns
Huey Long's resignation letter
So, we're delinquent for the annual report for the year ending June 30th, and we're delinquent for the quarterly report for the quarter ending September 30th. And now the CEO has resigned.
Lol. Yeah, I'm with you. Let's get kraken'!
The 10-K annual report was due on September 29th. Instead the NT 10-K was filed that day, giving us until October 13th. But still no filing. So we are now 32 days delinquent.
The 10-Q third quarter report was due no later than today, which is 45 calendar days after the end of the third quarter. Not only has it not been filed, no NT 10-Q has been filed to give us five additional days. At the very least an NT 10-Q should have been filed today.
Now, granted, last year the company filed an NT 10-Q a day late on November 15th, so perhaps they will file one tomorrow. But this is not good! We have always filed eventually in the past, but this should not be happening.