CHARLOTTE, N.C., May 17, 2016 (GLOBE NEWSWIRE) -- Life Clips, Inc. (LCLP), an innovative brand of products revolutionizing the way people capture, manage, enjoy, and share life's moments, issues the following shareholder update from CEO Bob Gruder.
Dear Shareholders,
I would first like to thank all of our shareholders for their continued support and interest in Life Clips, Inc. This is truly an exciting time for the Company as we continue with our mission of bringing innovative tech products to market on a global scale. I am happy to share that, to date, everything is moving forward as planned and I couldn’t be happier with the developments unfolding around our SoloVu™4k action camera and progression of the Batteryfly Energy LTD. acquisition.
Many months of hard work were put into developing the App, camera design, and features of the SoloVu™4k to be competitive and seek acquisitions in a rapidly growing marketplace. Our SoloVu™4k has several key features that competitors like GoPro do not come standard with, such as; an internal gyroscope for greater image stabilization, built in motion detection for activation, and a 12 mega-pixel image camera. The SoloVu™4k will retail for $159.00, significantly less than the leading brand. After months of hard work and preparation, it is now time to hit the market hard with the official launch of our SoloVu™4k action camera. Big box retailers are our primary target and all necessary steps are being taken to ensure attractive distribution. When compared to existing features and prices of action cameras on the market, I am confident consumers will love the SoloVu™4k.
Moving onto the highly anticipated Batteryfly Energy LTD. acquisition. Completion of this acquisition would add the Mobeego product line to our portfolio and complement our SoloVu™4k action camera perfectly. Mobeego is a disposable battery is a one-time charger for instant mobile use. Mobeego eliminates the need to find the closest outlet to charge your phone, and you no longer need to stop using your phone to save the battery. Mobeego batteries have a 10 year shelf-life and do not require a charging cord or any pre-charge.
I am excited to say that Life Clips has been able to raise all necessary capital to close on the Batteryfly Energy acquisition through private transactions from existing shareholders. I anticipate closing on the acquisition in the very near future. It is my goal to complete this acquisition and bring both the SoloVu™4k and Mobeego products to market while protecting shareholder value. I believe that by raising capital internally through existing shareholders with similar long-term goals as myself, does just that.
With the many months of hard work and preparation behind us, it’s time to bring these innovative technology products to market. Shareholders would be excited to know that discussions for big box retail distribution are already underway. I look forward to updating the investment community on these developments and many more still to come.
Thank you again for your continued support of Life Clips, Inc.
Best regards,
Bob Gruder
Life Clips, Inc.
CEO
Safe Harbor Statement
In addition to statements of current and historical fact, this Press Release contains forward-looking statements. The words “forecast,” “will,” “intend,” “anticipate,” “project,” “intend,” “expect,” “should,” “believe” and similar expressions are intended to identify forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Press Release, we caution you that these statements are based on a combination of facts and factors currently known by Life Clips and its projections of the future, about which it cannot be certain. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, including those discussed in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Life Clips’ annual report on Form 10-Q and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”), as well as matters discussed in Life Clips’ financial statements and related notes and other filings with the SEC, which may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Accordingly, all forward-looking statements should be evaluated with an understanding of their inherent uncertainty. Except as required by law, Life Clips assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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