Life Clips, Inc. (OTCMKTS:LCLP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 9, 2017, Huey Long, the Chief Executive Officer of Life Clips, Inc. (the “Company”) and a member of the Company’s board of directors, notified the Company’s board of directors of his resignation as Chief Executive Officer and a director, effective November 24, 2017. Mr. Long sent a letter (the “Resignation Letter”), dated November 10, 2017, to the Company’s board of directors relating to his resignation in which he alleged that the Company’s “Miami-based convertible note holders continue to strengthen their grip on the Company” and indicated that he had not been paid by the Company since July 2017. In connection with his resignation, Mr. Long proposed that he and the Company enter into a mutual release agreement and that the Company execute a promissory note in Mr. Long’s favor. As of the date hereof, the Company has not entered into a mutual release agreement with Mr. Long and has not executed a promissory note in Mr. Long’s favor. A copy of the Resignation Letter is attached hereto as Exhibit 17.1.
The Company provided Mr. Long with a copy of the disclosure contained herein, prior to its filing with the Securities and Exchange Commission (the “Commission”), and provided Mr. Long with the opportunity to furnish the Company as promptly as possible with a letter addressed to the Commission stating whether or not he agrees with the statements herein and, if not, stating the respects in which he does not agree. If the Company receives such a letter from Mr. Long, the Company will attach a copy of the letter as an exhibit to an amendment to this Current Report on Form 8-K within two business days after receipt by the Company.
Item 9.01 Financial Statements and Exhibits.
Life Clips, Inc. ExhibitEX-17.1 2 ex17-1.htm Exhibit 17.1 Huey Long 20W Nottingham Lane Rogers,…To view the full exhibit click here
About Life Clips, Inc. (OTCMKTS:LCLP)
Life Clips, Inc., formerly Blue Sky Media Corporation, is engaged in developing software. The Company is focused on the marketing of the HP branded products, as well as the Mobeego products in the United States as well as internationally. The Company holds a sublicense to use, reproduce and display the HP trademarks in various territories on HP Branded Products. The Company’s products will be the HP branded action cameras, 360 cameras, dash cameras and still cameras. In addition, the Company will sell Mobeego batteries. The Company is focused on products, including Batteries, The Battery (Energy Unit) and Adapter. Its Energy Unit consists of a custom designed plastic casing, shaped as a small can of energy drink, hosting a lithium battery. The Company plans to sell its products through retailers directly and through distributors. In addition to its international sales, the Company plans to sell directly to retailers in the United States.
