Wednesday, June 29, 2022

Bulls and Bears Battle on Life Clips Inc (OTCMKTS:LCLP)

Life Clips Inc (OTCMKTS:LCLP) traded off it’s sub penny bottom in early April emerging on the wings of incremental volume which flooded into the stock. A review of a chart shows this multi-million share volume showing up and driving shares from triple zero sub status to near .02 cents, which is a huge move, along with this spike came 30 million plus shares changing hands over the last few trading days. This peaked our interest to know what was going on at the company.

We found that they recently announced that they had entered into a royalty free, non-exclusive one-year contract with a distributor to sell Mobeego products in Japan. The contract grants the Distributor the non-transferable right to promote, market and resell Mobeego products and will be automatically renewed for one additional year, provided the Distributor has performed all of its commitments and obligations. The terms of the contract require the Distributor to pay 50% of each accepted order in advance and 50% on delivery.

There were over 55 Million smartphone users in Japan at the end of 2016. According to an October 3, 2016 report published by Allied Market Research, the global mobile phone accessories market is expected to reach $107.3 billion by 2022. Market growth is expected to be boosted by the rise in sales of smartphones and increase in Internet penetration, popularity of apps, social networking websites, and customers increasing need for convenience, which can be delivered with mobile accessories such as power banks, headphones and cases and other accessories.

Huey Long, Life Clips President and Chief Executive Officer, said, “We are proud to enter the Japanese market where commuting is a daily way of life for people going to work, school and performing other activities. Even children in the early grades of elementary school commute.” Mr. Long continued, “Accessing a place to charge your Smartphone can be a challenge and Mobeego is a solution to the problem. Our Mobeego one time use charger is an affordable single use, cordless battery that provides an instant shot of power for smartphones so our customers can stay mobile whenever and wherever they go. Once the battery is depleted, it can be recycled, or disposed of, and the user can simply buy a replacement battery.”

Life Clips Inc (OTCMKTS:LCLP) also announced that it has secured a commitment for an investment of $450,000 from existing investors. The investment is for general operating expenses and growth capital to fund the expansion of its sourcing operations and sales and marketing capability in the United States and international markets, as well as acquisitions.

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$LCLP 10-Day Chart Below.

Life Clips is transitioning to become a service provider specializing in end to end product development, factory sourcing and negotiations, factory production management, total logistics management and PO financing. They are also expanding into multi-channel sales and marketing services with a primary focus on importing and exporting products to sell globally, including the US, China, Europe, Mexico, Central America, South America and Canada.

Huey Long, Life Clips President and Chief Executive Officer, said “We are grateful to our investors for showing enthusiasm for our new business plan. We look forward over the next few months in expanding our Mobeego products as well as our new Global Sourcing Services and Sales and Marketing Services.”

Life Clips, Inc. (OTCMKTS:LCLP) is no where near out of the woods, and without continuing to trend higher the model would be suspect, the things to watch would be making a new high at .02 cents, this needs to happen quickly because it is difficult to tell who is accumulating these shares and how long they will stay around.  Often in the triple zero rise from the ashes plays you have short term traders, anyone trading this needs to pay attention to how the technical pattern plays out.

My suggestion is the same as it always is – learn as much as you can about what they do and watch the volume for clues.  You can also come back here and read or set your alert system to the LCLP symbol, we will be watching Life Clips. For continuing coverage on shares of $LCLP stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

 

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