LCLP: disappointed in this co.....dilution needs t
Post# of 106694
(Total Views: 238)
Posted On: 08/01/2017 1:54:16 PM
LCLP: disappointed in this co.....dilution needs to stop before it can reverse and doesn't look like it will soon.
LCLP: Looks like they have reduced their body camera business and diversified into other areas.
LCLP : recently increased A/S from 300M to 800M, likely to finance Ascenda Corporation acquisition. Unfortunately looks like more dilution on the way.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=12148659
* Stock Purchase Agreement
On June 22, 2017, Life Clips, Inc., a Wyoming corporation (the “Company”) entered into a Stock Purchase Agreement (together with all exhibits and schedules thereto, the “SPA”), by and among the Corporation, Ascenda Corporation, a company limited by shares incorporated under the laws of Independent State of Samoa (“Seller”), Hong Kong Ascenda International Co., Limited, a company limited by shares incorporated under the laws of Hong Kong (“Company HK”), and Hong Kong Ascenda International Co., Limited, a company limited by shares incorporated under the laws of Independent State of Samoa (“Company Samoa”, and collectively with Company HK, the “Targets” and each a “Target”). Additional information regarding the operations of the Targets is set forth in Item 2.01, and is incorporated herein by reference.
Ascenda Corporation is a global trade and barter firm with an international network covering the world, providing sourcing, logistics, quality control and factory management services. Ascenda Corporation, through the Targets, provides clients with the knowledge and resources to make more cost-effective buying decisions and assists with streamlining the procurement process and thereby reducing business costs.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=12145808
*
NOTE 1. ORGANIZATION AND OPERATIONS
Business and basis of presentation – Life Clips, Inc. (the “Company”) was incorporated in Wyoming on March 20, 2013 as Blue Sky Media Corporation and its principal business was developing, financing, producing and distributing motion pictures and related entertainment products. Following the Company’s October 2, 2015 acquisition of Klear Kapture, Inc. (“Klear Kapture”), the Company continued Klear Kapture’s business of developing a body camera and an auditable software solution suitable for use by law enforcement. The Company changed its name to Life Clips, Inc. on November 3, 2015 in order to better reflect its business operations at the time.
On October 2, 2015, the Company completed the acquisition of 100% of Klear Kapture, Inc. (“Klear Kapture”) its issued and outstanding common stock in exchange for 38,037,120 shares of the Company’s unregistered common stock. As part of the Share Exchange, the Company purchased 107,261,000 shares of its common stock from its former executive officers and directors for a price of $345,000. Upon the effective date of the transaction, Klear Kapture became a wholly owned subsidiary of the Company.
The Company acquired Batterfly Energy in July 2016. Batterfly manufactures the Mobeego® brand emergency cell phone batteries. The Mobeego provides an extra 20-40% shot of power to a cell phone without having to be tethered or charged. The batteries have a 10-year shelf life. The Company realized the packaging that was inherited did not convey the message properly and is in the process of re-packaging the product.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=12082209
LCLP: Looks like they have reduced their body camera business and diversified into other areas.
LCLP : recently increased A/S from 300M to 800M, likely to finance Ascenda Corporation acquisition. Unfortunately looks like more dilution on the way.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=12148659
* Stock Purchase Agreement
On June 22, 2017, Life Clips, Inc., a Wyoming corporation (the “Company”) entered into a Stock Purchase Agreement (together with all exhibits and schedules thereto, the “SPA”), by and among the Corporation, Ascenda Corporation, a company limited by shares incorporated under the laws of Independent State of Samoa (“Seller”), Hong Kong Ascenda International Co., Limited, a company limited by shares incorporated under the laws of Hong Kong (“Company HK”), and Hong Kong Ascenda International Co., Limited, a company limited by shares incorporated under the laws of Independent State of Samoa (“Company Samoa”, and collectively with Company HK, the “Targets” and each a “Target”). Additional information regarding the operations of the Targets is set forth in Item 2.01, and is incorporated herein by reference.
Ascenda Corporation is a global trade and barter firm with an international network covering the world, providing sourcing, logistics, quality control and factory management services. Ascenda Corporation, through the Targets, provides clients with the knowledge and resources to make more cost-effective buying decisions and assists with streamlining the procurement process and thereby reducing business costs.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=12145808
*
NOTE 1. ORGANIZATION AND OPERATIONS
Business and basis of presentation – Life Clips, Inc. (the “Company”) was incorporated in Wyoming on March 20, 2013 as Blue Sky Media Corporation and its principal business was developing, financing, producing and distributing motion pictures and related entertainment products. Following the Company’s October 2, 2015 acquisition of Klear Kapture, Inc. (“Klear Kapture”), the Company continued Klear Kapture’s business of developing a body camera and an auditable software solution suitable for use by law enforcement. The Company changed its name to Life Clips, Inc. on November 3, 2015 in order to better reflect its business operations at the time.
On October 2, 2015, the Company completed the acquisition of 100% of Klear Kapture, Inc. (“Klear Kapture”) its issued and outstanding common stock in exchange for 38,037,120 shares of the Company’s unregistered common stock. As part of the Share Exchange, the Company purchased 107,261,000 shares of its common stock from its former executive officers and directors for a price of $345,000. Upon the effective date of the transaction, Klear Kapture became a wholly owned subsidiary of the Company.
The Company acquired Batterfly Energy in July 2016. Batterfly manufactures the Mobeego® brand emergency cell phone batteries. The Mobeego provides an extra 20-40% shot of power to a cell phone without having to be tethered or charged. The batteries have a 10-year shelf life. The Company realized the packaging that was inherited did not convey the message properly and is in the process of re-packaging the product.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=12082209
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