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Life On Earth, Inc. Signs Purchase Agreement With CareClix Holdings, Inc.
Company Moves Forward To Complete The Acquisition of the CareClix Group Of Companies
New York, NY, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Life on Earth Inc, (OTC Pink: LFER) (LFER or “The Company”), a technology and software company, has signed the Share Purchase Agreement (SPA) with CareClix Holdings, Inc. (CareClix) to acquire the four CareClix subsidiaries (CareClix Group) in order to expand into the Telemedicine and Medical Software Services industry. The group of companies under the CareClix Group will operate as wholly owned subsidiaries. The subsidiaries consist of the Telemedicine medical services company, the direct-to-consumer company, software-as-a-platform company, and the RPM (remote patient monitoring) company. More information to follow on the details of the different operating entities and their functions. Please visit the company’s website for more information: https://www.careclix.com.
Mahmood Khan, LFER CEO added “Now that we have signed the SPA for the CareClix acquisition, we will be following through with the final logistics including required filings and registrations that coincide with a transaction of this type. Our legal and accounting teams will be directing both companies to make sure everything is in compliance so we can move forward with our growth plans for 2022 and beyond.”
Charles Scott, CareClix Holdings, Inc, Chairman of the Board, added “Our executive leadership already works well together, which is always a factor in transactions of this kind. The degree to which LFER executive leaders share the CareClix vision for telemedicine and more importantly the digital health future, is a huge confidence booster. We look forward to growing Life on Earth to the benefit of all our shareholders.”
About Life on Earth Inc.
Life on Earth, Inc. (LFER) is a cloud enterprise software developer and a provider that enables rapid innovation that keeps the enterprise operations safe, compliant and manageable. The products are designed to help organizations innovate and modernize legacy systems while minimizing cost and risk of business disruptions and ensure regulatory compliance. For more information, please visit our corporate website - www.lifeonearthinc.com. Investors and corporate inquiries, please contact: info@lifeonearthinc.com | (646) 844-9897.
About CareClix Holdings, Inc.
CareClix Holdings, Inc is a telemedicine software and services company centered around the CareClix® virtual telehealth platform. The CareClix Group of companies provides software applications coupled with medical services enabling patients to receive care anytime at anyplace. CareClix' suite of services are trusted by some of the best names in healthcare with more than 20 million individuals in the U.S. and 35 other countries currently having access to CareClix's platform and services. CareClix Inc., CareClix Services, Inc., CareClix RPM, Inc., and MyCareClix, Inc., are each a wholly-owned subsidiary of CareClix Holdings, Inc., f.k.a. Solei Systems Inc. (OTC: SOLI). Learn more about CareClix by visiting our website: www.careclix.com.
https://www.globenewswire.com/news-release/2021/12/23/2357477/0/en/Life-On-Earth-Inc-Signs-Purchase-Agreement-With-CareClix-Holdings-Inc.html
LFER $$$
8-K filed https://www.sec.gov/ix?doc=/Archives/edgar/data/1579010/000101738621000568/lfer_2021dec17-8k.htm
On December 17, 2021, we entered into Stock Purchase Agreement (the “Agreement”) with CareClix Holdings, Inc., a Florida corporation (“CareClix”). Under the Agreement, we will acquire 100% ownership of the operating subsidiaries of CareClix, which in include CareClix, Inc., a Virginia corporation, CareClix Services, Inc., a Florida corporation, My CareClix, Inc., a Florida corporation, and CareClix RPM, Inc., a Florida corporation (collectively, the “CareClix Group”). In exchange for ownership of the CareClix Group, we will issue the following securities, to be issued pro rata to the common shareholders of CareClix:
50,000,000 shares of our common stock; and Shares of a new class of preferred stock to be designated as Series E Preferred Stock. The shares of Series E Preferred stock to be designated and issued to the shareholders of CareClix shall be up to approximately 2,100,000 Preferred Shares with a convertibility ratio, under the current share structure, of 100 to 1 into our shares of common stock.
In addition, the Agreement calls for us to issue up to 4,000,000 shares of our Series A Preferred Stock, over a period of time, to Mr. Charles Scott, the Chairman and majority shareholder of CareClix, with 2,500,000 shares to be issued at closing, 600,000 shares to be issued 45 days after closing, and 900,000 shares to be issued 90 days after closing. Shares of our Series A Preferred Stock, which are not convertible and do not receive dividends, are entitled to cast 50 votes per share on all matters submitted to the vote or consent of our shareholders. Upon the closing of the Agreement, the shareholders of CareClix will hold approximately seventy percent of our issued and outstanding common equity on a fully diluted basis,and will hold the majority of our total shareholder voting power.
The closing of the Agreement is subject to numerous conditions, including the effectiveness of a registration statement on Form S-4 to be filed registering the issuance of our shares of common stock and shares of Series E Preferred Stock to the common shareholders of CareClix, approval of the Agreement by a majority of the shareholders of CareClix, and preparation and delivery of audited financial statements for the CareClix Group.
Upon closing of the Agreement, we intend to continue pursuing the business of the CareClix Group. CareClix is a leading virtual telehealth platform. The company provides software applications coupled with medical services enabling patients to receive care anytime at anyplace. More than 20 million individuals in the U.S. in over 60 countries are currently utilizing CareClix's services. CareClix’s website is: www.careclix.com.
LFER $$$
Should get very interesting next few weeks and months
DBOOMM $$$
Yep 1,175,574 shares @ .151 = $177k
https://www.sec.gov/Archives/edgar/data/1084475/000108447521000021/xslF345X03/primary_doc.xml
NIHK $$$
Interesting. Etrade still won't allow buys until the CE is gone. I'd like to hear more from Schwab users buying
DBOOMM $$$
Can Schwab users really buy now?
https://ih.advfn.com/stock-market/USOTC/digital-brand-media-and-pk-DBMM/trades
DBOOMM $$$
$177k buy from the CEO yesterday
https://www.sec.gov/Archives/edgar/data/1084475/000108447521000021/xslF345X03/primary_doc.xml
NIHK $$$
Sweet move coming as tax purpose selling winds down. Next few weeks and months should be very bullish
HIRU $$$
lol I've been adding here too
HIRU $$$
Nice share
Another incorrect statement. Management has not diluted or sold ANY shares. Investors are selling shares, NOT management.
— Neutra Corp (@CorpNeutra) December 15, 2021
As far as products, we have gone from no facility in 2018, to a production facility in 2020, and now almost doubling revenue the last 3 quarters.
$9m market cap still way undervalued
https://www.otcmarkets.com/stock/IGEN/security
IGEN $$$
Latest Form 4 du jour filed
https://www.sec.gov/Archives/edgar/data/1084475/000108447521000020/xslF345X03/primary_doc.xml
NIHK $$$
That's true. Mostly buying so far this morning so maybe not a big issue
Yes the 8k doesn't sound good https://www.otcmarkets.com/filing/html?id=15432075&guid=qrfwkFniGBAxOth
Sysorex, Inc., a Nevada corporation (the “Company”), entered into a Promissory Judgment Note dated as of August 15, 2018 (the “Note”), with Tech Data Corporation (“Tech Data”), pursuant to which the Company promised to pay the principal sum of $6,849,423.42 to Tech Data. The Note provides that interest shall accrue on the balance of the Note at the rate of 18% per annum. Due to miscommunication with Tech Data, the Company inadvertently failed to pay, when due, some of the installment payments in the aggregate principal amount of $3,341,801.80, as set forth in the Note and has defaulted under the Note.
On December 14, 2021, the Company became aware that a Confession of Judgment (the “Confession of Judgment”) had been entered against the Company in the Superior Court of the State of California, County of Santa Clara by Tech Data on September 24, 2021. The Confession of Judgement is entered for a total sum of $5,942,559.05, which is comprised of the principal sum of $3,341,801.80 and prejudgment interest in the sum of $2,600,757.25.
Debenture Default
The Company has sold to certain purchasers 12.5% Original Issue Discount Senior Secured Convertible Debentures (collectively, the “Debentures”) pursuant to the terms and conditions of those certain Securities Purchase Agreements entered into by the Company and certain investors. The Debentures provide that any monetary judgment filed against the Company for more than $50,000, and if such judgment remains unvacated for a period of 45 calendar days shall constitute an event of default. As a result, the Confession of Judgment could be deemed to be an event of default under the Debentures although the Company only became aware of the Confession of Judgment on December 14, 2021.
No clue either, being perfectly frank :)
NIHK $$$
Plenty of large buys coming in end of day. I wonder who that could be?
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$195k buy from the CEO https://www.sec.gov/Archives/edgar/data/1084475/000108447521000019/xslF345X03/primary_doc.xml
NIHK $$$
Glty Legster and to us all. Many longs are loaded big time, including the CEO
IGEN $$$
I would hope not. The price will move to a more realistic market cap for this seriously undervalued stock, when enough buy volume comes in consistently. I believe that time is very near while now is the time for loading cheapies from retail bid dumpers
Just my opinions of course
IGEN $$$
Sure about that?
Only about 7 sessions before tax purpose selling is done. This should be current by then and can clearly fly with this low float
MVNT $$$
Nice share thanks. Added the dip
Shareholder question: “Is the company still on target for announced plans?”
Answer: “Yes, focused and on target!”
Shareholder question: “Is the company still on target for announced plans?”
— Life On Earth (@LifeonEarthInc) December 17, 2021
Answer: “Yes, focused and on target!”$LFER #LFER #cybersecurity #cloudsecurity #iot #mobilesecurity #enterprise #technology #ransomwareprotection #infosec #cloud #databreach #data #datasecurity
Adding more from these bid dumpers. Still way undervalued
IGEN $$$
Yessir. Better for all of us when longs get filled from bid dumpers than MMs
IGEN $$$
Great range to add more IGEN. Doing what I can as well :)
IGEN $$$
He's picking the right time of year to do it. So many gains from Jan and Feb as we've seen relentless tax purpose selling end of year for OTC in general, which ends in about 7 sessions
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Holy shit big buy Frank $105K
https://www.sec.gov/Archives/edgar/data/1084475/000108447521000018/xslF345X03/primary_doc.xml
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12s getting chowed like yummy pretzels :)
GRLT $$$
Just noticed the same thing. Might see a real big move here
MVNT $$$
Yep just added more and nets cast for any tax loss sellers next 2 weeks
IGEN $$$
Today's Form 4 over $53k bought
https://www.sec.gov/Archives/edgar/data/1084475/000108447521000017/xslF345X03/primary_doc.xml
NIHK $$$
Keeps creeping up as the float gets more locked ala Form 4. One of these sessions it's going to bust a big move north
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