Life Clips Inc (fka LCLP)

[nodummy]

The 8K is for a Letter of Intent (nothing has closed yet).

But don't sleep on the second to last statement from today's 8K

https://www.otcmarkets.com/filing/html?id=13011644&guid=N8_MUnFS3bGIR3h

As part of the transaction the Company will convert existing debt to equity

LCLP did a nice job of creating a nice 35 day window for the Letter of Intent to be touted without closing.

. It is anticipated that the closing of the transaction will be on or about November 20, 2018.

They could always extend the deadline after that. There is no guarantee the proposed reverse merger/acquisition will close.

In the meantime, keep in mind that LCLP has a crap load of convertible debt on the balance sheet. $2,314,810 in convertible debt plus $451,749 in interest as of their last financial statement.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142954297

It is possible that we could start seeing the effects of new convertible debt conversions right away. The Miami based Note holders wasted no time dumping the last time LCLP saw a big increase in volume/price due to that fake press release.

LCLP was supposed to file their 10K by October 15th and didn't. They are now a delinquent filer again.

Definitely treat this as no more than a trade and exercise caution about everything else.