Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I was thinking the same thing.
Yes, as far as we know. That announcement on August 7th was the last word on the MJ accessories. Maybe we'll hear something about it in the 10-K this week.
Yes, thanks, PennyMaster. The company is still in survival mode, trying to recover from the mess that former CEO Gruder left us in. Lots of toxic financing to be paid off. Hopefully the new direction and new enterprises get us out of this. I'm cautiously optimistic that we will make it. Maybe the new annual report will give us a better idea.
Thanks. Good to see them both parked out of the way now.
So it's BMIC and VNDM which typically are the big diluters? Am I right about that?
Possibly because the 10-K annual report is due out this week.
We broke 100 million in volume!
Still none.
Thanks, zatafour. You too.
The company first notified us in August about their intention to increase the A/S.
The due date for our 10-K annual report is 90 calendar days after the end of the second quarter. So that was yesterday, 9/28. Yesterday the company filed for an extension, giving it 15 more calendar days to file. So our 10-K annual report is now due out on Friday 10/13/17. This is what the company has done in previous years as well. Looking forward to seeing it.
As expected they have filed an NT-10K. This gives them until mid-October to file the annual report.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12299818
They're in survival mode until they get all the toxic stuff paid off. But a bunch of recent prospects may change the picture at any time. Annual report is due out this week, so we may learn more.
Yes, I'm hopeful in the long run. This company has a lot to overcome, but also a lot going for it.
We've heard from the company recently. We had news on August 7th and 15th, and filings on August 2nd, 9th and 21st and September 1st and 13th.
The A/S increase was approved, but does not go into effect right away. Should take effect shortly. The delay has to do with notification requirements, etc.. I received my notice in the mail already.
Meanwhile the annual report is due next week, though they could apply for a fifteen-day extension which would put it into mid October. It should be interesting.
"They have four children and live in Orange County, California. Mr. Walters earned a B.S."
He also earned a "BS" with Monarch. That's for sure!
The company dropped the cameras in March.
http://www.otcmarkets.com/stock/LCLP/news/Life-Clips--Inc--Announces-Consolidation-and-Change-in-Officers?id=154511&b=y
"Previous management of the Company was not able to raise sufficient capital to complete its business plan, or fulfill the commitments to its licensing partner, and enter the Digital Imaging market. As a result, the Board of Directors has voted to cease operations in this market and will not pursue the activities under the trademark license agreement, pursuant to which the Company planned to design, manufacture and sell branded action cameras, 360 cameras, dash cameras and still cameras, as discussed in the Company’s Form 8-K as filed on September 22, 2016."
Market Value
$41
a/o Sep 18, 2017
Agreed. They're still in operation.
I certainly wish they would do something with it.
I guess that should have been "Irma" didn't affect the company's ability to file. I'm getting my storms mixed up.
Thanks, Penny. So it is. An amendment to the 10Q for the first quarter ending March 31, 2017.
"This quarterly report on Form 10-Q/A (the “Amended Filing”) amends the quarterly report on Form 10-Q of Life Clips, Inc. (the “Company”) for the quarterly period ended March 31, 2017, as originally filed with Securities and Exchange Commission (the “SEC”) on May 19, 2017 (the “Original Filing”). This Form 10-Q/A is being filed to amend the cover page to the Form 10-Q to correct a typographical error regarding the date on which the Company’s common stock was outstanding.
Except as set forth above, no other information in the Original Filing is amended hereby. This Amended Filing speaks as of the date of the Original Filing and does not reflect any other events occurring after the date of the Original Filing. In addition, currently dated certifications from our Chief Executive Officer and Chief Financial Officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, are attached to this Amended Filing as Exhibits 31.1 and 32.1, respectively."
Good to see that Harvey didn't affect the company's ability to file. The 10-K annual report is due by the end of the month. Our head office is located in Aventura, Florida, on the outskirts of Miami, though accounting and auditing is done in N. Carolina.
Thanks for finding that, Zatafour.
So as of today the O/S is 505,881,306
According to the latest filing the O/S was 422,417,453 on 8/30/17
So that's an increase in the O/S of 83,463,853 shares in 13 days.
Meanwhile according to my chart the total volume from 8/30/17 through 2PM Eastern today has been approximately 179,110,000 shares.
9/6/2017 11:29:05 ET volume 2,409,500
Remember, we own Hong Kong Ascenda International Co. Ltd.. That link in your post lists information for the American branch of the company. Ascenda's main office is in Shanghai. The $190,000 in annual revenues and three employees mentioned in your article refers only to the American office located in California.
Excerpts from the acquisition announcement:
"AVENTURA, Fla., June 27, 2017 (GLOBE NEWSWIRE) -- Life Clips, Inc. (LCLP) (“Life Clips” or the “Company”) a provider of global sourcing and sales and marketing services, announced today that, on June 22, 2017, it closed on the acquisition of the shares of Hong Kong Ascenda International Co., Limited, a company organized under the laws of Hong Kong, and Hong Kong Ascenda International Co., a company organized under the laws of the Independent State of Samoa (collectively, “Ascenda”), which are the main operating companies of Ascenda Corporation. Ascenda Corporation was formed in 2000 and is based in China and the USA. This acquisition will provide the Company the ability to import and export products globally. The acquisition includes Ascenda’s existing business, clients, executive management and goodwill. The original investors in Ascenda Corporation included The China Development Group, which was the largest investment banker in Taiwan, and Donald Ruan, who has over 40 years of experience in global trade."
"With the addition of Ascenda and over $6 million in revenue, Life Clips has now officially launched its rapid growth strategy in its new core business of global sourcing, supply chain, logistics and sales and marketing services."
"With its main offices in Shanghai, China, Ascenda has been in continuous trading operations for 17 years with bi-directional trading and import/export capabilities in China, Taiwan, Korea, Japan, Indonesia, Mexico, Brazil, Argentina, United Kingdom, United States, France, Spain, Germany, Italy and Israel."
https://finance.yahoo.com/news/life-clips-inc-officially-launches-134852515.html
Here are the latest filings and news on the Life Clips website.
https://lifeclips.com/
Oh, I see.
I think you were right about the prospects. There's no guarantee of success, but I think the company really is trying. I don't see Life Clips as a scam at all. To me a scam is a company that is there to dupe investors, and has no intention of making a success of itself. I don't see Life Clips in that way. The company is clearly struggling. I'm hoping for success.
What late PR? What info out today? What promo starting tonight?
Thanks, Bud.
I like the article you posted last week. I think it gives a fair and balanced account.
Turn Around - Life Clips Inc. Taking Steps To Make A Comeback
Nonsense.
The increase will be in the AS. The OS remains low. The AS is the number of shares that the company may issue. The OS is the number of shares that the company has issued.
The difference between Authorized Shares (AS) and Outstanding Shares (OS)
There has been no R/S. There was an 11 for 1 forward split on 02/19/2016.
http://www.otcmarkets.com/stock/LCLP/profile
That assumes that the company has absolutely no success with its various existing business interests, and no new prospects. I don't think we can assume that.
Right. Thank you.
Thanks, Notabadguy. So you're saying that all 800 million of the former A/S were reserved, though not issued, which is why they had to increase the A/S?
I have a question about the O/S as reported on OTC Markets. As we know the A/S (Authorized Shares) was increased from 300,000,000 to 800,000,000 on June 27th, and now it is about to be raised to 5,000,000,000. However OTC Markets reports that the O/S (Outstanding Shares) were just 317,623,009
as of Aug 15, 2017.
So my question is this: Does anyone know how accurate the O/S reported by OTC Markets is? Can we use it as an indication that the O/S hadn't as of August 15th gone up very much, indicating not so much dilution?
http://www.otcmarkets.com/stock/LCLP/profile