As the parent company of two subsidiaries, Life Clips, Inc. (OTC: LCLP) provides crypto trading and blockchain services as well as AI-based mental health solutions to consumers. After promising to share significant updates this week, LCLP stock climbed 35% as investors are anticipating the upcoming news. With plans to issue a dividend and acquire other companies to grow the business, LCLP stock could be one to watch closely this week as these catalysts roll out.
LCLP Stock News
Through its subsidiary Cognitive Apps, LCLP provides AI-powered mental health analytics to help businesses understand and improve the mental health of their employees, patients, and customers. In this way, the workforce mental health analytical platform provides a unique approach to mental health by integrating Cognitive Apps’ ecosystem in support of employees.
This approach is based on Cognitive Apps’ AI-based mental health monitoring tools which use voice tone and context analysis to analyze the mental health of employees. Considering the huge potential of this technology, Cognitive Apps filed an FDA premarket notification 510 (k) process to add its approach to the clinical workflow in mental health facilities around the world. If this approach is approved by the FDA, its technology could be introduced to workplaces around the world.
While Cognitive Apps has proven to be a successful investment by LCLP, the company’s main business is through its other subsidiary – Belfrics Global. As a blockchain provider and crypto exchange, Belfrics has 10 offices in 8 countries with plans for further expansion across the world. With offerings of digital assets, cryptos, as well as crypto derivative contracts, Belfrics has a growing presence in Asia, Africa, the Middle East, and the Asia-Pacific regions.
To facilitate this, Belfrics operates on its own blockchain – Belrium. Considered to be the world’s first KYC compliant blockchain, Belrium is working on 5 national projects and issues graduation certificates for 10 universities around the world. Thanks to the safety and transparency brought by Belrium’s KYC component, the blockchain is compatible with national IDs, land records, and more which means a myriad of organizations can utilize the Belrium blockchain to take their operations to the next level.
Belfrics is also utilizing its platform Beldapp to provide dApps based on its blockchain. Through this platform, Belfrics provides services like the certificate issuance dApp and a payroll issuance dApp to small and medium sized enterprises.
These services are already seeing wide adoption after Belfrics recently partnered with the State of Maharashtra in India to issue university certificates to all of the state’s students via the Belrium blockchain. Thanks to this, Maharashtra’s population of 112 million people will have access to secure and timely certificates from more than 45 universities. To begin with, the state plans to issue 500,000 certificates over 3 years to students completing their English Proficiency Skills and 50,000 certificates to students advancing advanced skill development courses. Since these certificates can be easily verified in less than 10 seconds, many more universities may utilize Beldapp as well.
On this note, LCLP’s CEO – Rob Grinberg – shared that “We are only seeing the beginning of the real-world capabilities of Belfrics’ blockchain solutions. I believe we have a more advanced offering than many of our larger competitors, and a Belfrics team with the right relationships to successfully market it.”
LCLP is already breaking new ground in India with plans to open 200 phygital centers in India. Belfrics launched its first phygital center for crypto trading in Pune to capitalize on the rapidly growing Indian crypto market. A relatively new concept, phygital is about bridging the gap between the digital and physical worlds. Common examples of this are kiosks in restaurants used for ordering or live video shopping.
In this way, Belfrics is working to seize the opportunity for crypto trading by establishing itself in one of the fastest growing hubs for technology and business where 62% of the population is under 30. Using a franchisee-based model, each of Belfrics’ franchisees would provide local support to customers – helping it bring in over 100,000 traders by 2023. By introducing young consumers to the possibilities of crypto trading and decentralized applications, Belfrics could secure a place for its blockchain-related services in this growing market.
At the same time, Belfrics will offer its blockchain-based services for health, education, and employment. Given the high number of educational institutions in the area, Belfrics intends to use Credibel – its certificate issuance dApp – for over 100 thousand students while offering certification courses in blockchain technology and crypto through its educational dApp – Belfrics Academy. Estimating it will reach 1 million customers in its first year through this educational service, Belfrics also intends to capitalize on India’s huge employment market by utilizing its B-Roll app to verify employee paychecks on the Belrium blockchain.
Given these services’ potential to reach India’s growing population, LCLP appears to be in an excellent long-term position. But to finance these pursuits, LCLP secured $50 million in financing through an equity line of credit. Using these proceeds, LCLP plans to improve its technology, develop new products, and venture into new markets. In light of this, many investors are bullish on the upside potential LCLP stock presents given its future plans.
No doubt a strong indication of the direction LCLP is heading, the company paid of all of its $4 million convertible debt in Belrium. By repaying its debt, LCLP was able to reduce its fully diluted share count by 400 million shares or 22% of its OS. With this in mind, LCLP’s CEO Robert Grinberg excited many investers after sharing that “the restructuring of all of our outstanding debt owed to convertible debt holders is the first major step in executing on the next phase of our business plan”. Moreover, Grinberg is bullish that LCLP is “better positioned to secure new capital that will enable the expansion of our Company over the next 12 months”.
On that note, LCLP is in a strong financial position to pursue these plans. According to its latest quarterly report, LCLP has roughly $2 million cash on hand and assets totaling $50 million while its liabilities prior to paying off its convertible debt totaled $11 million. Total revenues reached $2.2 million which largely came from its Belfrics subsidiary. Overall, its gross profit was $1.5 million but the company operated at a loss of $3.4 million due to a change in the fair value of a contingent liability.
Despite all of these positive catalysts, LCLP released an update for shareholders to clarify confusion regarding certain aspects of its business, including that Belfrics has a global rather than a local license which means that it is “not suspended, banned, or otherwise restricted from doing business in Malaysia”. Furthermore, the volume posted on Nomics could be influenced by Belfrics “reviving its application” which temporarily limits “the outreach of fresh onboarding to a minimal level”.
Given that LCLP has been on investors’ radars for some time, this string of news and upcoming catalysts could signal a turnaround for the stock which has been following a general downtrend since September.
*Updated September 12th
NFT Platform
Looking to utilize its Belrium blockchain to drive up more growth, LCLP’s subsidiary – Belfrics – launched its own NFT exchange platform – BelNFT. By using this platform, users will be able to monetize their assets by tokenizing them and safely buy, sell, and trade NFTs. With this in mind, BelNFT provides LCLP with a major market opportunity in India where blockchain technology and NFTs remain in their early adoption stages. In light of this, BelNFT could garner interest from new users looking to adopt this new technology. Meanwhile, launching BelNFT has allowed LCLP to diversify its offerings in the blockchain sphere which could increase demand for the company’s other blockchain offerings. In this way, LCLP could become a global leader in the blockchain industry.
Global Expansion
Over the past months, Belfrics has been ramping up its efforts to expand its operations across the world. With this in mind, LCLP’s subsidiary received its exchange operational license in Poland – marking its first venture in Europe. In addition, the subsidiary is currently in the licensing process to enter other new markets to fully capitalize on the growing demand for blockchain services throughout the world. By entering into this new ripe market, Belfrics could set LCLP stock for significant growth in the long-term.
In addition to entering the European market, Belfrics has been working to expand its presence in its current markets. Recently, the subsidiary signed an MOU with TP Global limited – a Mauritius award-winning brokerage firm – to partner in offering crypto derivatives and blockchain solutions. This partnership has the potential to be extremely profitable for LCLP as TP Global is a well-known platform with the company expecting 120 thousand and a monthly trading volume of $1 billion in crypto derivatives in 2023. Based on these numbers, LCLP could be on track to realize record revenues in the coming quarters.
LCLP also extended its operations in the UAE by forming Belfrics Technologies Limited which was admitted to DIFC (Dubai International Financial Center) under Innovation business category. The decision to expand the company’s operations in the UAE stems from the country’s reputation as a one of the pioneers in crypto and blockchain technology in the Middle East region. With this in mind, the UAE previously launched the “UAE Blockchain Strategy 2021” initiative which aims to conduct 50% of federal government transactions through the blockchain.
Since the Belrium blockchain is in line with this initiative, Belfrics will focus on introducing decentralized applications targeting the government and non-government health, education, and human resources sectors. Meanwhile, Belfrics intends to apply for the ITL (Innovation Testing License) for digital assets trading by DIFC. In light of this vision, LCLP stock could be one to hold onto for the long-term thanks to the company’s growth potential in the blockchain industry.
Moreover, Belfrics recently entered into the Mexican market after forming Belfrics Mexico. Through this venture, Belfrics will offer a blockchain wallet and remittance solution to capitalize on the growing remittance flow in Latin America. On that note, Mexico is the third largest recipient of remittances globally with total remittances reaching $51.6 billion in 2021. These remittances have made the Mexican market an attractive opportunity for blockchain and crypto innovations.
For this reason, Belfrics choosed Mexico to be the first region to deploy its blockchain wallet and remittance solution. In the meantime, Belfrics’ licenses for wallet and exchange services are under review in Mexico. Based on this, LCLP’s subsidiary plans to initially focus on developing healthcare and educational d-apps for the Mexican market. Through these plans, Belfrics appears to be on track to achieve its target of becoming a leading blockchain solution provider and digital assets service provider in Mexico by 2024. If the company is able to deliver on this target, LCLP stock could be well-positioned to soar in the future.
Indian Government Partnership
With an aim of expanding its offerings in the growing Indian market, Belfrics held a meeting with officials from India’s National Health Authority (NHA) to complete the first blockchain-based M1 demo. In addition, the meeting included discussions regarding how Belfrics could make the ABDM blockchain compliant with various models of the ABDM ecosystem including insurance and healthcare practitioners’ membership modules. Currently, Belfrics is working to provide the government with a permanent blockchain solution using the Belrium blockchain to eliminate the bugs found during implementation. With this in mind, Belfrics expects to receive the M1 license by next month and intends to complete M2 and M3 licenses over the coming 3 months.
With this in mind, this partnership could be major for Belfrics since it is already the only blockchain company partnered with the government to develop the ABDM blockchain. Through this partnership, Belfrics will utilize its Belrium blockchain at the architecture level to create an ABDM blockchain solution for state governments in addition to a blockchain-based personal health record. This PHR solution will be the core of the ABDM ecosystem which will be pivotal in sharing these information outside India. Considering that India is home to nearly 20% of the world’s population, this partnership could allow Belfrics to become a major player in the blockchain industry. In light of this, LCLP stock could be an extremely profitable long-term investment as the company continues growing this business division.
Cognitive Apps
As for its other business division, LCLP recently shared that it is preparing new developments to grow this division and promised to release PR highlighting exciting news. The PR will also include news regarding a stock dividend and acquisitions of revenue generating companies to add under this division’s umbrella. With this PR set to be released this week, LCLP stock could be poised to break the penny mark as more and more investors are taking notice of the company and its ventures.
LCLP Stock Financials
Looking into LCLP’s Q3 financials, the company had $50.6 million in assets as of March 31, 2022 comprising $855.7 thousand in cash and $46.5 million in intangible assets. Meanwhile, the company reported $26.1 million in liabilities with $11.4 million current liabilities. As for revenues, LCLP appears to be growing rapidly as the company reported $2.9 million in Q3 for a total of $5.2 million for the 9 months ended March 31, 2022. The company also reported $1.7 million in operating costs in Q3. Despite this, LCLP operated at a net income of $3.3 million to $4.4 million reported as a change in fair value of contingent liability. With the company working to expand both of its divisions, LCLP stock appears to be on track to further grow financially in the future.
Media Sentiment
@ChaseMacTrades is bullish LCLP stock could be a multi-day runner thanks to its upcoming catalysts.
@linzy_long_hold believes LCLP could reach near a penny if it witnesses high buying activity.
Technical Analysis
LCLP stock is currently trading at $.0046 near its resistance at .0047 and shows another resistance near .0053. The stock also shows supports at .0035, .0027, .0023, and .0020. With anticipation building up for the company’s PR this week, LCLP climbed 35% and is gaining traction among Fintwit investors. With this in mind, LCLP has the potential to continue its run in the lead-up to the PR as the news could be major. For this reason, bullish investors could wait for a break through the resistance with a pullback for a good entry point on the stock.
In light of the upcoming PR’s potential, accumulation is trending upwards and the MACD is bullish to the upside. Meanwhile, the RSI climbed from 45 to 80 indicating that LCLP stock is overbought. Despite this, LCLP is witnessing increased interest from investors which could allow the stock to rally in anticipation of the PR. LCLP has an OS of 2.5 billion and a float near 2.3 billion.
LCLP Stock Forecast
With the company expanding its blockchain business, LCLP has the potential to become a leading provider of blockchain solutions. By entering into lucrative markets like the UAE, LCLP could benefit from the government’s interest in blockchain solutions and increase its offerings in the Middle East region. Meanwhile, entering the European market through Poland is a major accomplishment for the company given the potential of this market. However, LCLP’s biggest catalyst is its partnership with the Indian government to utilize the Belrium blockchain in developing the ABDM ecosystem. While the company remains waiting to receive its M1 license, LCLP could be set for significant growth in the Indian market given its plans to complete M2 and M3 licenses within the coming 3 months.
At the same time, investors are watching LCLP stock closely in anticipation of its PR regarding its Cognitive Apps division. Given that the company promised “exciting developments”, LCLP could continue running in anticipation of the news. Since these developments are regarding a share dividend and multiple acquisitions of revenue generating companies, many investors are bullish LCLP could soar upon releasing PR. While LCLP could be a profitable investment in the short-term, the company’s ventures and plans make the stock an intriguing long-term investment.
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