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Michael Cordero was never associated with this company in any way.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=132191229
Same people in the background running this scam.
Just not on the letterhead any more.
Gruder? Gruder left the company back in January and his shares were returned and cancelled.
Gruder left Life Clips
Gruder's shares returned and cancelled
DEF14C Information Statement filed. A/S expected to increase from 300,000,000 to 800,000,000 on or about July 11, 2017.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12148659
Excerpt:
Our board of directors and the holder of our Series A Preferred Stock, representing a majority of the voting power of our capital stock, have taken action by written consent to authorize our board of directors to effect the Amendment. Our board of directors has discretion to abandon the Amendment prior to its effectiveness.
The Authorized Share Increase will become effective upon the filing of the Amendment with the Secretary of State of the State of Wyoming. We expect the Effective Date (i.e., the date that the Authorized Share Increase is effective) will occur on or about July 11, 2017.
Reasons for Proposed Amendment
Our Board of Directors’ primary reason for approving and recommending the Authorized Share Increase is to provide additional shares for issuance by the Company to enable the Company to raise additional capital, to complete acquisitions using the Company’s shares for consideration, and to ensure that the Company is in compliance with various loans, warrants and other agreements of the Company which are convertible into shares of Common Stock, wherein the Company covenanted to maintain adequate authorized but unissued shares of Common Stock to enable such conversions. The Company does not currently have any definitive plans, arrangements, understandings or agreements regarding the issuance of the additional shares of common stock that will result from our adoption of the Amendment, other than to retain such shares for issuance upon conversion of certain debt obligations of the Company. Except as otherwise required by law, the newly authorized shares of common stock will be available for issuance at the discretion of our Board of Directors (without further action by the stockholders) for various future corporate needs, including those outlined above). While adoption of the Amendment would not have any immediate dilutive effect on the proportionate voting power or other rights of existing stockholders, any future issuance of additional authorized shares of our common stock may, among other things, dilute the earnings per share of our common stock and the equity and voting rights of those holding common stock at the time the additional shares are issued.
We believe that the Authorized Share Increase will make our Common Stock more attractive to a broader range of institutional and other investors. However, other factors, such as our financial results, general market conditions and the market perception of our company, may adversely affect the market price of our Common Stock. As a result, there can be no assurance that the Authorized Share Increase, if completed, will result in the intended benefits described above, that the market price of our Common Stock will increase following the Authorized Share Increase or that the market price of our Common Stock will not decrease in the future. Accordingly, the total market capitalization of our Common Stock after the Authorized Share Increase may be lower than the total market capitalization before the Authorized Share Increase.
Here is a link to our newly acquired Ascenda Corporation, plus a link to today's Form 8-K, plus today's news release.
Ascenda Corporation
Today's Form 8-K
Today's news release
Life Clips, Inc. officially launches its Global Sourcing business with the acquisition of Ascenda International- adding over $6M in annual revenue
Jun 27, 2017
OTC Disclosure & News Service
-
AVENTURA, Fla., June 27, 2017 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTCQB: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.
This is Life Clips’ first acquisition under its new CEO, Huey Long. 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.
Huey Long, CEO of Life Clips, states, “Acquiring a company with Ascenda’s experience, existing customers and leadership team, establishes us a premier global sourcing company, and officially launches our new core business strategy. We anticipate rapid growth- organically and through strategic acquisition.”
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. Ascenda operates around the world with a network of hundreds of factories, logistics and supply chain suppliers. In 2003 Ascenda introduced the concept of “Speed Sourcing” for its clients, offering end-to-end sourcing at a fraction of the cost and time compared to traditional exporters and export service providers. The services include design, licensing, factory qualifications and negotiating, financial services, import and export, sales, and end to end supply chain services.
Post-acquisition, Donald Ruan will remain as President and CEO of Ascenda’s Sourcing Operations along with his experienced team, and has also been named to the Board of Directors of the Company, to serve as the Chairman of the Board. Mr. Ruan brings along extensive experience in executive management, international trading and manufacturing. A native of China, he has managed the Ascenda operations in Shanghai since 2001. Mr. Ruan is a key player in bridging the West and East. He is respected globally for his integrity and ability and has served as an executive committee member and CEO of Ascenda Corporation. Mr. Ruan has extensive experience running consumer electronics manufacturing companies, having been CEO of ProView Technology, KDS, Waffer, MAG Innovision, and CTX International. He has served as a board member of Waffer Tech, the world's largest magnesium injection molder, ARC United and MAG Innovision. He has also served as a partner in Unico International, an Executive VP at Taiwan and Hong Kong Trading Co., which is the largest government subsidized trading firm in Taiwan, and as Chief Resident Representative in Shanghai for China Development Financial Holdings Corporation, an arm of the China Development Group’s investment bank in Asia.
Yes, plus more news, I think.
No problem ?? Today's news is good news.
If I'm not mistaken, they haven't increased the A/S yet. What they filed on June 8th was a PRE-14C, which is just a preliminary information statement. It shows that they intend to increase the A/S, but it won't actually happen until they file. So for now the A/S remains at 300,000,000 and the O/S is around 169,000,000 or so.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12118754
You're most welcome.
There is a Michael Cordaro who is associated with Allston Trading, and with Peerless Development LLC. That's a different company. We are Peerless Developments LTD.
Michael Cordaro profile
Here is our company profile:
http://www.otcmarkets.com/stock/PEDE/profile
Proxy Statement - Other Information (Preliminary) (pre 14c)
The company will increase the AS from 300,000,000 to 800,000,000 shares. The OS as of 6/5/17 was 140,748,371 shares of common stock issued and outstanding.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12118754
BACKGROUND AND PURPOSE OF THE AMENDMENT
General
Reasons for Proposed Amendment
Our Board of Directors’ primary reason for approving and recommending the Authorized Share Increase is to provide additional shares for issuance by the Company to enable the Company to raise additional capital, to complete acquisitions using the Company’s shares for consideration, and to ensure that the Company is in compliance with various loans, warrants and other agreements of the Company which are convertible into shares of Common Stock, wherein the Company covenanted to maintain adequate authorized but unissued shares of Common Stock to enable such conversions. The Company does not currently have any definitive plans, arrangements, understandings or agreements regarding the issuance of the additional shares of common stock that will result from our adoption of the Amendment, other than to retain such shares for issuance upon conversion of certain debt obligations of the Company. Except as otherwise required by law, the newly authorized shares of common stock will be available for issuance at the discretion of our Board of Directors (without further action by the stockholders) for various future corporate needs, including those outlined above). While adoption of the Amendment would not have any immediate dilutive effect on the proportionate voting power or other rights of existing stockholders, any future issuance of additional authorized shares of our common stock may, among other things, dilute the earnings per share of our common stock and the equity and voting rights of those holding common stock at the time the additional shares are issued.
We believe that the Authorized Share Increase will make our Common Stock more attractive to a broader range of institutional and other investors. However, other factors, such as our financial results, general market conditions and the market perception of our company, may adversely affect the market price of our Common Stock. As a result, there can be no assurance that the Authorized Share Increase, if completed, will result in the intended benefits described above, that the market price of our Common Stock will increase following the Authorized Share Increase or that the market price of our Common Stock will not decrease in the future. Accordingly, the total market capitalization of our Common Stock after the Authorized Share Increase may be lower than the total market capitalization before the Authorized Share Increase.
Done. To me this news and recent news highlights how our new CEO is serious about taking the company forward. Very encouraging.
Yes it is. It's impressive. Looks like Mr. Huey Long really means business.
This is good news. Hope it goes through.
Wow! Ascenda Corporation is no small potatoes.
http://www.ascenda.biz/
NEWS - Life Clips Updates Shareholders on Letter of Intent to Acquire Global Sourcing Provider Ascenda
AVENTURA, Fla., June 08, 2017 (GLOBE NEWSWIRE) -- Life Clips, Inc.(LCLP) (the "Company") a designer and seller of mobile accessories, and provider of global sourcing and sales and marketing services, announced today additional details of the International Trading Company it plans to acquire. Life Clips(LCLP) has entered in to a Letter of Intent to purchase the shares of Ascenda's Global Sourcing Business, which will include Ascenda's existing business, clients, executive management and goodwill. Ascenda operates around the world with a network of hundreds of factories, logistics and supply chain suppliers. Ascenda generated over $6M in revenue for 2016 and currently has over 30 active clients. Ascenda provides its clients with a direct import supply chain model called Speed Sourcing, which provides end to end sourcing at a fraction of the cost and time compared to traditional exporters and export service providers. These services include design, licensing, factory qualifications and negotiating, financial services, import and export, sales, and end to end supply chain services.
Ascenda Corporation has been in continuous trading operations for 17 years with bi-directional trading and import and export capabilities in China, Taiwan, Korea, Japan, Indonesia, Mexico, Brazil, Argentina, United Kingdom, United States, France, Spain, Germany, Italy, and Israel. Ascenda currently has offices in the U.S., China, Australia, Mexico and Spain. Ascenda's original investors included The China Development Group, which was the largest investment banker in Taiwan, and Mr. Donald Ruan who has over 40 years of experience in global trade. Mr. Ruan has been involved in distributorships in Asia for E&J Gallo Winery, Mellita, Philco, Frigidaire, Zenith, Audio Research, GES/LLMO, Parker Hannifin, Hendrickson, Dana, TRW, Farr, CNH, J.I. Case, and Snap-On Tools among others. Following the closing, Mr. Ruan will remain as President and CEO of the Company's Sourcing Operations along with his experienced team.
Mr. Ruan is a native of China and has managed the Ascenda operations in Shanghai since 2001. He has been an executive committee member, and is the founder and CEO of Seller. Mr. Ruan has extensive experience running consumer electronics manufacturing companies having served as CEO of ProView Technology, KDS, Waffer, MAG Innovision, and CTX International. He served on the Board of Directors of Waffer Tech, which is the world's largest magnesium injection molder, ARC United and MAG Innovision. He has also served as a partner in Unico International and as an Executive VP at Taiwan and Hong Kong Trading Co, which is the largest government subsidized trading firm in Taiwan. He has also served as Chief Resident Representative in Shanghai for China Development Financial Holdings Corporation, an arm of the China Development Group's investment bank in Asia.
The terms of the agreement have not been met and we are still under a letter of intent. We anticipate the terms of the agreement will be met in the near future. Additional information about Ascenda can be found on their website at http:// www.ascenda.biz.
GlobeNewsWire
Here you are. It's nothing major.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12113119
And here's a good site for keeping track of all LCLP's filings, news, company profile, etc..
http://www.otcmarkets.com/stock/LCLP/filings
12:37:13 ET Volume 100,000
Yes, they did!
Thanks, Pete. Good news!
NEWS -- Life Clips Signs Letter Of Intent To Acquire Global Sourcing
Life Clips Signs Letter of Intent to Acquire Global Sourcing Provider
AVENTURA, FLORIDA--(Marketwired - June 1, 2017) - Life Clips, Inc. (OTCQB:LCLP) (the "Company") a designer and seller of mobile accessories, and provider of global sourcing and sales and marketing services, announced today that it has signed a Letter of Intent (LOI) to acquire an International Trading Company (the "Target Company") to further its global sourcing business. The acquisition of the Target Company will bolster The Company's ability to import and export products on a global basis.
The signed LOI outlines the structure and terms of the transaction. All due diligence has been completed on the Target Company, however, certain terms of the LOI must to be fulfilled prior to completing the acquisition. Management is working towards fulfilling these obligations in an expeditious manner and plans to announce the results in the near-term.
As stated in previous press releases, Life Clips is transitioning to provide end to end product development, factory sourcing, factory negotiations, factory production management, total logistics management and PO financing, as well as multi-channel sales and marketing services. The Company previously announced the primary focus moving forward will be on importing and exporting products to sell globally, and that existing investors provided additional funding for acquisitions.
Huey Long, Life Clips President and Chief Executive Officer, said "The Global Sourcing and International Trading business is fast-paced and can be very lucrative for our shareholders. We have had several questions from shareholders about what the business encompasses and plan to host a conference call in coming weeks to more clearly define the process."
http://www.marketwired.com/press-release/life-clips-signs-letter-of-intent-to-acquire-global-sourcing-provider-2219788.htm
Power hour! :0D
Maybe speaking to someone else at your brokerage would help. PEDE does have a value. The first trade has already gone through. Perhaps your brokerage needs more time? Sorry, I really wouldn't know.
Hi, Jambo,
Since we had a 1 for 4,000 reverse split, a share of DVME pre-split at $0.0001 had the same value as a share of PEDE post-split at $0.40 (forty cents). So a PEDE pps of forty cents is your break-even point for shares you bought of DVME at $0.0001.
PEDE had its first (and so far only) trade today, when 287 shares traded at the bid of $0.045. So essentially a $13 trade reset the pps from $0.40 to $0.045 for the time being. Typically with pink sheet stocks, after there has been a reverse split, the pps declines from its initial reset point. But as you know, PEDE didn't just have a reverse split. A merger is also involved with the Russian company StroiTechSnab LLC. So anything could happen. We shall see.
Be sure to check out this really good post from Stervc.
I believe it depends on the brokerage. Fidelity, for example, has changed it already to PEDE.
I think it contains some pretty impressive good news, Pete.
Some good news from today's quarterly report:
"Net income for the three months ended March 31, 2017 was $485,271 as compared to net loss of $194,215 at March 31, 2016."
"For the nine months ended March 31, 2017 and 2016, we had gross profit of $21,355 and $534 respectively."
"Net income for the nine months ended March 31, 2017 was $4,025,574 as compared to net loss of $5,239,226 at March 31, 2016."
Today's 10-Q quarterly report
The 10-Q quarterly report is out.
Thanks, Renee!
Hey, how about that! Recently Japan, and now Thailand and Taiwan.
http://www.marketwired.com/press-release/life-clips-inc-signs-distribution-agreement-market-sell-mobeego-products-thailand-taiwan-otcqb-lclp-2217333.htm
Life Clips has been granted a five-day filing extension. To remain current they must file no later than Saturday.
It means we're going to be seeing a lot more exclamation points and smiley faces!! :0D
What does it mean? You tell me.
New Somatics teacher training class in July in Wales, Wisconsin.
https://we304.infusionsoft.com/app/page/somatic-exercise-teacher-training-201707?inf_
Now, that's huge! Sterling, thanks so much for putting all that together! This is getting exciting indeed.
Thank you for posting that, Mike.
Gruder and his HP camera deal are old news. He's gone. The future is our $450,000 in new funding, our expansion into the Global Sourcing market, our new five-year agreement with Textiss USA, and our Mobeego expansion into the Japanese market.
Me too. Just picked up some more.
I'm glad we agree that LCLP is not a scam.
Thanks, Stock102. Not difficult to get the skinny at all. Just a click away.
How about that, Hpar32. The acquisition is complete!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=130965505