Life Clips Inc (fka LCLP)

[Dolly Llama]

Life Clips is not delinquent. It is correct that what was filed yesterday is not a Q (quarterly report). It is a 10-K annual report. But it is not correct that LCLP is delinquent. Companies are not required to file a quarterly report at the same time that they file their annual report. And you will see that the SEC reporting status of Life Clips on OTC Markets is now listed as "Current". They had listed us as "Current" until yesterday. Yesterday, before the new 10-K was filed, they had changed Life Clip's status to "Delinquent". But after processing yesterday's 10-K filing they returned us to "Current" status once again, as you can see on their website.

At the website you can also see that a year earlier for the quarter ending June 30, 2015 only a 10-K annual report was filed. No 10-Q quarterly report was filed then at the same time either. The company files quarterly reports three times a year for the periods ending March 31, September 30, and December 31. And each year for the quarter ending June 30 the company files its 10-K annual report, just as it did last year. When the annual report is filed, a quarterly report is not necessary. This is the same procedure followed by other company such as Microsoft (MSFT). So Life Clips is not delinquent. And I'm sure in three months it will file its next quarterly report as required, just as it did last year.

"This is not a Q, a 10Q is quarterly report. At the end of November, they will be delinquent in 2 quarters of filings."