Life Clips Inc (fka LCLP)

[Dolly Llama]

I wish that were so, Powerbattles, but I'm afraid it is not. The checked box indicates that Form 10-Q quarterly reports must be filed on or before the fifth calendar day following the original due date. So we are delinquent.


[X]
(b)
The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D,or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and


And OTC Markets now lists us as delinquent. They have also dropped our Morningstar rating to one star.

[url][/url][tag]http://www.otcmarkets.com/stock/LCLP/filings[/tag]


But if it is any consolation, we missed the extension date and were delinquent once before for a few days, and then the form was filed late, restoring our status to current. And I suppose it is better that Life Clips at least filed for the extension. That would indicate that they intend to file the quarterly report, which is certainly better than not even bothering to get an extension. I hope and expect to see the 10-Q shortly. But it is definitely not good that the company can't seem to file on time.

Also of concern to me is the fact that the new CEO has not bothered to communicate with the shareholders in any way, not even to introduce himself. Reforms are clearly needed.

I hope that this ship is about to right itself. I want to see Life Clips succeed.