Replies to post #6896 on Life Clips Inc (fka LCLP)

[Dolly Llama]

So the original paragraph was not actually deleted. The eight new paragraphs were simply inserted ahead of it.

Also about this:

Upon any event of default, the Company is required to repay all amounts then due under the Note, at a 50% premium.

This paragraph refers to the Notes issued to the five parties listed, and not to the Mobeego default.

[KanoD014]

While convertible notes are not ideal for those of us holding shares, I see things a bit differently.

1. The company and new leadership all have a vested interest in making this company grow.

2. If the company was in a death spiral, talented leaders would not tie their compensation nor their reputations to future share prices.

3. Various investors infused capital because they believe they will get a return on investment. No matter what the default clauses say, a failed company with no stock value would still hurt them. I cannot see them entering into these agreements without analyzing risks. I would venture to say that they know quite a bit more about the problems and potential in the company.

I am going to hang on for the ride and see if they are able to make some positive moves with this.

All IMO. GLTA.