Part of the delay in the 10-K may be, based on recent changes in the company's management and focus of operations, there is significant paperwork overload going on.
The new company mission statement starts out: "Life Clips is focused on delivering the world’s best global sourcing, logistics, and multi-channel sales and marketing services." (as noted on their OTC Markets Company Profile)
That's not in keeping with their current SIC - Industry Classification of "3861 - Photographic equipment and supplies" on the current registration. So, re-registration into a new category, at a minimum, would likely be necessary. A lot of paperwork processing time and back-and-forth wait time, as well.
Then there's the associated on hand inventory to be written off and liquidated under EBITDA and discontinued operations (?).
