Life Clips Inc (OTCMKTS: LCLP) is making a powerful move up in recent trading since a brief dip below $0.004 and major reversal northbound following several months of decline. Currently under heavy accumulation LCLP has a major international shareholders list behind it that will jump back on board if the run accelerates. LCLP has runner in its blood skyrocketing from double zeroes to $0.0738 per shares last summer and when a stock such as LCLP heats up, penny stock speculators pay attention. As we have written before on Life Clips; “LCLP is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars. Currently on a collision course with $0. 0.0738 LCLP is stretching its legs for a blue-sky breakout!
LCLP has been making some major moves; the Company just eliminated all of its nearly $4 million in outstanding convertible debt by paying the outstanding amounts in Belrium (BEL). The net effect of the transactions reduces the fully diluted share count of the Company by approximately 400,000,000 shares or more than 22% of the Company’s current issued and outstanding. The Company also just secured $50 million in financing under an equity line of credit. Life Clips plans to use the proceeds to expand its fast-growing Belfrics subsidiary by investing in technology, developing new products, expanding to new markets, and hiring quality employees. With its sandbox license in the national digital health arena, Life Clips aims to onboard 25-30% of hospitals in Pune. Through this onboarding process, the Company expects to achieve 300,000 plus customers who will use its Belyo platform. Belfrics Group continues to see rapid growth recently added 14 new crypto currencies to its exchange, as a result of increasing demand from its customers. This is part of Belfrics larger strategy to launch over 200 phygital centers across India. Already they have opened a phygital center in Pune where they are looking for rapid expansion with a gold onboard over 100,000 traders in 2022-23.
Life Clips Inc (OTCMKTS: LCLP) is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. An SEC filer, 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., 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.
Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority.
Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by individuals and companies to raise awareness of employees’ mental health.
LCLP took off on July 14, 2020 after the Company announced it agreed to acquire Belfrics Group. Microcapdaily was first on the scene reporting on LCLP back in July 2020 stating at the time: “Belfrics currently has a presence in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, and Bahrain; and it has the capability to process over 1 million transactions per second. Belfrics Group specializes in blockchain technology and digital asset exchange solutions. Belfrics runs two distinct business verticals: Digital asset exchange and blockchain division. Belfrics is one among the few regulated exchanges across the globe, that provides regulated digital asset trading solutions. Belrium, the proprietary blockchain developed by Belfrics, acts the central focal point of the blockchain division. Belrium, which is a hybrid private-public blockchain solution, focusses on identity management on blockchain for decentralized transactions.
Excellent response to all the BS.
Life Clips Responds to Blatantly False and Misleading Social Media Statements https://t.co/nGOaj0h5GH
— Eagle Investments OTC (@GamblerOtc) April 18, 2022
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At the time of the acquisition Belfrics Exchange was moving forward on plans for rapid expansion. Microcapdaily wrote at the time: “In addition to offering Leveraged Forex Instruments and Crypto Derivative Contracts, it plans to relaunch its cryptocurrency exchange in India in October and open 22 centers in various parts of the country. Belfrics Exchange is a digital asset trading platform that uses a mandated KYC component to identify and verify its users. Belfrics’ proprietary Belrium KYC Verification System is used for KYC identification and verification process for the Belfrics Exchange. Belfrics Exchange currently generates more than $10 million in daily volume by offering 15 crypto pairs to more than 35,000 customers in 12 countries. Belfrics Exchange expects to gain significant market share in the Crypto Derivative market, since there are very few competitors offering the product in the region. In addition to retail interest in Leveraged Forex Instruments and Crypto Derivative Contracts, Belfrics Exchange expects to benefit from pockets of high-volume institutional flows as a result of deep relationships with commodity brokers in many regions.”
LCLP is heating up; In March 2022 the Company’s BelfricsBT subsidiary signed a Memorandum of Understanding with The Kenya Red Cross Society (KRCS) to deploy its Belrium blockchain based BelYo platform to provide a system to maintain and disseminate health data in real-time for its hospital in Dadaab, Kenya. Belfrics plans to deploy its blockchain solutions at the IFO 2 hospital in Dadaab, Garissa County, which is a 100-bed hospital serving between 200 and 300 outpatients a day. The IFO 2 hospital serves the 232,903 refugees who reside in Kenya and is the only major hospital providing medical care to this underserved community. BelfricsBT will provide a customized hospital management system that will automate the IFO 2 hospital. Kenya Red Cross Society is one of the many International Red Cross and Red Crescent Movement societies around the world.
Belfrics Group recently added 14 new crypto currencies to its exchange, as a result of increasing demand from its customers. The new coins that have been added are – Bitshiba, Chainlink, Dai, Dogecoin, DYDX, Fantom, OMG Network, OX, Pax Gold, Polygon, Solana, Uni Coin, USD Coin and Wrapped Bitcoin. This is part of Belfrics larger strategy to launch over 200 phygital centers across India.
On April 4 Belfrics India’s first phygital center to offer trading in cryptocurrencies and blockchain services in Pune. This initial location in Pune is a part of the larger strategy of Belfrics Group. Praveen Kumar, Founder and CEO of Belfrics has big plans stating “This is going to be a franchisee-based model wherein our franchisees would give local support to customers through every center. We decided to launch our first center in Pune as it is one of the fastest growing hubs as far as technology and business are concerned. 62% of the population are under 30, which makes Pune the pivotal land of growth in crypto trading. Our aim is to onboard over 100,000 traders in 2022-23.” In addition to crypto trading, Belfrics Group will also offer innovative blockchain based solutions in Health, Education, and Employment. Speaking on the additional services Praveen Kumar added, “Through our platform Bel Dapp we would also offer blockchain solutions to our customers. With our sandbox license in the national digital health arena, we aim to onboard 25-30% of hospitals in Pune. Through this onboarding process we expect to achieve 300,000 plus customers who will use our Belyo platform.”
Recently Life Clips reported it plan s to ramp up growth of its Belfrics subsidiary as the Company has secured a commitment for up to $50 million in financing under an equity line of credit. Life Clips plans to use the proceeds to expand its fast-growing Belfrics subsidiary by investing in technology, developing new products, expanding to new markets, and hiring quality employees.
On April 18 LCLP announced it has eliminated all of its nearly $4 million in outstanding convertible debt by paying the outstanding amounts in Belrium (BEL). The net effect of the transactions reduces the fully diluted share count of the Company by approximately 400,000,000 shares or more than 22% of the Company’s current issued and outstanding. The move not only eliminates debt and reduces potential dilution, it puts the Life Clips in a stronger financial position and better positioned to secure new capital that will enable the expansion of the Company over the next 12 months.
$LCLP Up 118% after paying debts with their own blockchain coin Belrium (BEL). The net effect of the transactions reduces the fully diluted share count of the Company by approximately 400,000,000 shares or more than 22% of the Company’s current issued and outstanding. 500% volume pic.twitter.com/1pKUY80nMs
— Self_Fulfilling_Profits_See (@ProfitsSee) April 18, 2022
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Currently trading at tiny $16 million total market valuation LCLP has 1,781,946,647 shares outstanding. Life Clips is an SEC filer and has over $2 million in the treasury and over $1.5 million in receivables and total assets including $46 million in intangible assets of over $50 million. Revenues have picked up substantially with LCLP reporting $2,235,267 in sales for the 3 months ended December 31, 2021. LCLP is an exciting penny stock to look at in small caps; the Company’s subsidiary the Belfrics Group is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries. At the time of Life Clips acquisition of Belfrics the Belfrics Exchange was generating more than $10 million in daily volume by offering 15 crypto pairs to more than 35,000 customers in 12 countries. It has seen rapid growth since then. We wil be updating on LCLP so make sure you Subscribe to Microcapdaily so you know what’s going on with LCLP.
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Disclosure: we hold no position in LCLP either long or short and we have not been compensated for this article.