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That's misinformation. They are not increasing the AS and they do not have to enact a R/S.
The market is open tomorrow.
https://www.investors.com/research/stock-market-holidays/
The reason is obvious. The company denied "raising shares" because it didn't "raise shares", meaning it didn't raise the AS. The company didn't deny a Reverse Split because it hasn't issued a Reverse Split.
Nonsense.
I think the whole purpose was to have options available if they ever think they need them. I'm not worried about it.
We've seen that same language before. For example, in the DEF 14-C from 8/26/19.
https://www.otcmarkets.com/filing/html?id=13612092&guid=CEewkWIA7bm1Qth
That's not what it says. The authorized shares are already at 1,000,000,000.
https://www.otcmarkets.com/stock/SNPW/security
Correction. It's not a "Reverse Split approval notice". The 14-C did not approve a reverse split. Again, it just provides an option.
It's not unclear.
There is no reverse to cancel. There is only the option for a reverse.
The Board of Directors gave themselves a one-year option to file an R/S in the range of 100:1 through 1000:1 if they choose. It's just the option. They have done the same in previous years. But it did not result in an R/S.
It's just an option. And it can be cancelled like it was previously.
It's just an option. The Board has given itself the option to adopt an R/S in the past as well, but not adopted it.
You were right, jackpot. The due date was yesterday, not Monday as I first thought. Normally when the due date falls on a market holiday the filing is not due until the next market Day. But that only applies to sec holidays, and yesterday was not an SEC holiday, so my bad. I'm really glad they got this filed.
The effect is the same. The reverse split didn't happen.
No, not right away. It would stay Pink, but with limited information or Pink no information, meaning delinquent, giving it plenty of time to file late, at which time it would return to Pink current.
I just checked with an SEC filing deadline calculator, and it looks like it may be due Friday after all. If Friday had been an SEC holiday it would have been due the following Monday, but since Good Friday isn't an SEC holiday the calculator says it's due Friday, even though the market is closed. Seems to me I've seen this kind of situation before in the past elsewhere and they treated the market holiday as if it were an SEC holiday. But the calculator says the 10-K is due Friday, so apparently my bad.
https://www.securexfilings.com/sec-deadlines/
LFAP is a non-accelerated filer, and the period end in question is 31 Dec, 2021.
The 15 calendar day extension would have made it due on Friday. But when due dates fall on SEC holidays, the due date is then the following market day.
https://www.colonialstock.com/SEC-holidays.htm
It just gives the Board a one-year option for an R/S in the range of 100:1 through 1000:1. The company has filed these options before in the past in the form of a DEF 14C or an 8K. So far the Board has always either let the option lapse after a year, or officially cancelled it before the year ran out.
It's a one-year option, so they can just let it lapse, or if they want they can officially cancel it as they did the last time on 2/18/2021.
http://www.otcmarkets.com/filing/html?id=14723368&guid=DHFwkHgQ2MIQQth
The due date for the 10-K annual report would be Friday the 15th, but since the market is closed that day the filing isn't due until Monday the 18th.
Right. There was also a DEF 14C filed on 8/26/2019 giving the board the same one-year option for the exact same range of R/S, but no reverse split happened.
https://www.otcmarkets.com/stock/SNPW/disclosure
You're welcome.
Sun Pacific Holding Corp. Becomes an Authorized Distributor of FoxESS Inverter and Energy Storage Solution Products to North America, South America and Australia
https://finance.yahoo.com/news/sun-pacific-holding-corp-becomes-141500975.html
MANALAPAN, N.J., Nov. 30, 2021 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (OTC: SNPW) is pleased to announce a signed agreement with FoxESS Co. LTD to become an authorized distributor for the full FoxESS line of energy storage products throughout North America, South America and Australia. Under the new agreement Sun Pacific will have the opportunity to serve its growing customer base with advanced energy management devices that can deliver greater efficiency and cost effectiveness at a time when these considerations have never been more pressing.
FoxESS is a global leader in the development of inverter products and energy storage solutions. Engineered by some of the world’s leading inverter and battery experts, FoxESS products are breaking new ground in the increasingly important clean energy field; offering customers the most advanced product features currently available, coupled with unrivalled performance, product longevity and technical reliability.
FoxESS is part of a global conglomerate of renowned and recognized companies. A key shareholder is Tsingshan Group, a Fortune Global 500 company and the largest producer of stainless steel in the world. It has more than 56,000 employees and annual sales revenues in 2020 of 42.4 billion USD.
Nicholas Campanella, CEO of Sun Pacific Holding Corp. said, “We are most fortunate to have teamed up with global energy innovator FoxESS and also to have secured distribution rights for their unmatched energy storage solutions throughout North America, South America and also Australia. Since Sun Pacific is already developing major clean energy projects in these regions of the world, our new partnership with FoxESS will further enhance the high value we can offer and deliver to our customers in vital energy management and optimization for today and well into the future.”
For more information on FoxESS visit their website at: https://www.fox-ess.com/
Here is the contact page from the Foxess Co., LTD. website:
https://www.fox-ess.com/get-in-touch/
And here is their home page:
https://www.fox-ess.com/
You're welcome.
You're welcome.
What numbers used for SNPW are inaccurate?
The assertion was that the stock has declined 99%. It has not.
No, a price decline of 99% leaves the new price at just 1% of the original price. For example, if the price were $100 and it declined 99%, it would then be $1. The decimal point moves two places to the left. So if .2049 were to decline 99%, the result would be .002049. So SNPW has not declined 99%.
The reverse split announced 8/25/2020 was officially cancelled on 2/17/2021.
On 8/25/2020 the board authorized the option (effective for a period of 12 months) to effectuate a reverse split in the range of between 100:1 and 1000:1.
Life Clips, Inc. Announces $50 Million Equity Line for Long Term Growth and Expansion
https://www.globenewswire.com/news-release/2022/03/23/2408681/0/en/Life-Clips-Inc-Announces-50-Million-Equity-Line-for-Long-Term-Growth-and-Expansion.html
Life Clips, Inc. Announces $50 Million Equity Line for Long Term Growth and Expansion
March 23, 2022 09:30 ET | Source: Life Clips Inc.
...
AVENTURA, Fla., March 23, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) announced today plans to ramp up growth of its Belfrics subsidiary as the Company has secured a commitment for up to $50,000,000 in financing under an equity line of credit.
Robert Grinberg, CEO of Life Clips, said, "We believe by raising capital and putting it to work we will see growth in our bottom-line business, creating shareholder value." Mr. Grinberg continued, “We saw a direct correlation between our investment of money raised through our previous Regulation A offering and an increase in Belfrics’ revenue."
Life Clips will use the proceeds from these transactions expand its fast-growing Belfrics subsidiary by investing in technology, developing new products, expanding to new markets, and hiring quality employees.
Mr. Grinberg added, “We have taken a thoughtful approach to our capital structure over the past year. Our goal has been to raise capital at the lowest cost possible to our shareholders.”
Praveen Kumar, CEO of Life Clips’ Belfrics subsidiary, said, “Belfrics will immediately start deploying capital to bolster our systems and growth. We look to continue the success we achieved in the last quarter.”
About Us
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by individuals and companies to raise awareness of employees’ mental health. Cognitive Apps is developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Aiki is available on Apple‘s App Store.
For more information on Life Clips visit www.lifeclips.com
For more information on Belfrics Global visit www.belfricsgroup.com
For more information on Cognitive Apps Software Solutions visit https://cogapps.com
It's the schedule for the Rhode Island Department of Environmental Management (DEM). They are scheduled to take up the Medrecycler-RI Inc. permit denial appeal at 12:00 Eastern today. (now)
Oops. I forgot that tomorrow is Saturday. So the 10-Q quarterly report won't be due until the next market day, which is Tuesday the 22nd.
The 10-Q quarterly report was due on the 14th. They filed a five-day extension, so it is now due the 19th. (They go by calendar days, not market days.) (The extension was filed on the 15th, but it extends the due date by five days from the original due date, which was the 14th.)
That's correct.
Companies file three quarterly reports each year, and one annual report. They do not file a quarterly report for the same quarter in which the annual report is filed.
If Sun Pacific filed a 10-Q quarterly report each year after the fourth quarter, it would be due on February 14th, (not the 9th), with an optional five-day extension. However the company files its 10-K annual report each year after the fourth quarter. That annual report is due this year on March 31, with an optional fifteen-day extension. So no reports are currently due until March 31.
This has been posted for quite some time in this board's Intro page.
Life Clips Subsidiary Belfrics Expands Dubai Footprint; Names Najmal Ahmed As Head Of Dubai Operations
https://www.marketwatch.com/press-release/life-clips-subsidiary-belfrics-expands-dubai-footprint-names-najmal-ahmed-as-head-of-dubai-operations-2022-01-27?mod=mw_quote_news_seemore
BelfricsBT hires key management as it plans to expand its Belrium Blockchain in Dubai
AVENTURA, Fla., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the "Company") announced today a key executive hire for its Belfrics subsidiary in Dubai. The company has named Najmal Ahmed as Head of Dubai Operations. Belfrics has 10 operational offices in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, Bahrain and UAE, and is licensed and regulated by the Labuan Financial Services Authority (LFSA) in Malaysia. Belfrics plans a major expansion of its blockchain capabilities in the United Arab Emirates, especially in the financial hub of Dubai.
Mr. Ahmed most recently served as the Head of Business Development and Key Accounts Management for NOW Money in Dubai, United Arab Emirates. Prior to this position, Mr. Ahmed was Corporate Account and Relationship Manager at a startup for 7 years. In this position, Mr. Ahmed maintained relationships with 9 Banks and 23 exchange houses, as well as handled a portfolio of companies with more than 3000 clients. Mr. Ahmed holds a Bachelor of Technology degree in Computer Engineering from the University of Science and Technology in Omdurman, Sudan, and is CCNA (Cisco Systems) certified.
"Najmal brings Belfrics a diverse skillset and an impressive understanding of how businesses operate," said Belfrics CEO and Founder, Praveen Kumar. Mr. Kumar continued, "With his comprehensive knowledge of the latest financial and regulatory technology, we believe Najmal will successfully lead the expansion of our Dubai footprint as he builds and promotes strong, long-lasting customer relationships by partnering with them and understanding their needs."
Mr. Ahmed has an exceptional, proven track record in the financial services and technical industry, specifically in digital payments, prepaid cards and cross border remittances focusing on B2B sales and marketing, CRM, and effective management of channel and alliance programs.
Robert Grinberg, CEO of Life Clips, said, "We are very enthusiastic about our expansion in Dubai. Najmal will play a cornerstone role as he drives business and leads the charge developing the commercialization of our blockchain in the region. We are grateful to have him on board, and we welcome him to the Belfrics family."
About Us
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics' multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which includes the voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one's mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by individuals and companies to raise awareness of employees' mental health. Cognitive Apps is developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Aiki is available on Apple's App Store.
For more information on Life Clips visit www.lifeclips.com
For more information on Belfrics Global visit www.belfricsgroup.com
For more information on Cognitive Apps Software Solutions visit https://cogapps.com