Life Clips Inc (fka LCLP)

[Dolly Llama]

From the most recent 10-Q quarterly report filed by Life Clips:

Under Part 1, Item 1, Description Of Business, General Information About Our Company

Recent Developments

On July 11, 2016, the Company completed its acquisition (the “Acquisition”) of all of the outstanding equity securities of Batterfly Energy Ltd. (“Batterfly”), an Israel-based corporation that develops and distributes a single-use, cordless battery under the brand name Mobeego for use with cellular phones and other mobile devices. Batterfly is now a wholly owned subsidiary of the Company. The Acquisition was completed pursuant to a Stock Purchase Agreement, dated as of June 10, 2016 (the “Purchase Agreement”), among the Company, Batterfly and all of the shareholders of Batterfly, as amended.



Following the acquisition of Batterfly, we began to focus on developing three synergistic businesses:



Expanding the Mobeego line of mobile accessories.
Global Sourcing Services that includes product design, factory identification, negotiations, compliance qualification, and end-to-end logistics management to source products anywhere in the world.
Sales and marketing services that provide an efficient path for companies to launch and market product into multi-channel retail and capture the maximum return on investment.


The Company is currently pursuing alternative business opportunities. There has been limited activity due to a delay in securing funding. The Company is working to re-energize the business within the next 12 months.

https://www.otcmarkets.com/filing/html?id=14596331&guid=r2AKUH0jPPizEth