Life Clips Inc (fka LCLP)

[Dolly Llama]

OK just arrived here what is the issue with this ? Why are we in the gutter again ?

Check the sticky posts at the top for details. But in general, the company had gone delinquent last year following the resignation of the CEO. In April of this year the company filed a delinquent annual report for last year, sparking speculation that the company intended to go current again.

More general filings followed earlier this year, further fueling that same speculation.

Recently rumors spread that Interim CEO Victoria Rudman intended to bring the company current again, and a great deal of DD was posted to the board supporting rumors of a possible merger, possibly with other companies with which she is or has been involved.

Then on August 9th a letter was posted on the EIN newswire site which appeared to be from Victoria Rudman, saying that the company would soon go current again, and was looking for a merger candidate.

Sure enough, days later the company filed three delinquent quarterly reports with the SEC, and went current again. The stock price soared.

But within days the aforementioned letter disappeared from the EIN website where it had originally been posted. And Victoria Rudman issued a Form 8-K with the SEC disavowing the contents of the letter, saying that it had not been authorized by the company. The stock price quickly crashed.

So while the letter and it's talk of finding a merger candidate have been disavowed by the company, nevertheless the company did go current again.

And here we are. Speculation continues about a possible merger, as the company did not specifically say that it is not looking for a merger candidate. It simply disavowed the letter. Questions remain as to why the company has gone current again, and what is next.