Life Clips, Inc. (LCLP) financial statements (2022 and earlier)

Company profile

Business Address 18851 NE 29TH AVE.,
AVENTURA, FL 33180
State of Incorp. WY
Fiscal Year End June 30
SIC 3861 - Photographic Equipment and Supplies (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,0172311234892 
Cash and cash equivalents2,0172311234892 
Receivables1,148    3 
Deposits current assets      240
Other current assets350      
Other undisclosed current assets 34   (3) 
Total current assets:3,5152651234892240
Noncurrent Assets
Operating lease, right-of-use asset183  
Property, plant and equipment1,091     647
Intangible assets, net (including goodwill)46,063      
Intangible assets, net (excluding goodwill)46,063      
Other undisclosed noncurrent assets638   3 
Total noncurrent assets:47,34238   3647
TOTAL ASSETS:50,8583031234895887
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,5569211,7371,3601,156627163
Accounts payable2,388400357352515358163
Accrued liabilities1685221,3801,007641250 
Employee-related liabilities     19 
Debt250 530530530(1,108)(109)
Derivative instruments and hedges, liabilities 1,57713,2503,2319,284 1,518
Due to related parties4,2471,156763463   
Customer advances and deposits 85 
Other undisclosed current liabilities3,968 2,4292,4062,2943,313 
Total current liabilities:11,0213,65418,7097,99013,2642,9171,572
Noncurrent Liabilities
Long-term debt and lease obligation85     334
Long-term debt, excluding current maturities      334
Operating lease, liability85  
Liabilities, other than long-term debt     2,960 
Derivative instruments and hedges, liabilities     2,960 
Other undisclosed noncurrent liabilities18,938      
Total noncurrent liabilities:19,108    2,960334
Other undisclosed liabilities 4,174     
Total liabilities:30,1297,82818,7097,99013,2645,8771,906
Stockholders' equity
Stockholders' equity attributable to parent, including:20,729(7,524)(18,696)(7,956)(13,256)(5,782)(20,096)
Preferred stock  1111 
Common stock1,7431,3231,2601,2601,260188 
Common stock, share subscribed but unissued, subscriptions receivable     7 
Additional paid in capital55,77023,8669,2199,2199,2199,897 
Accumulated other comprehensive loss(114)(68)     
Accumulated deficit(36,737)(32,780)(29,301)(18,561)(23,825)(15,875)(20,454)
Other undisclosed stockholders' equity attributable to parent6713512512589 358
Total stockholders' equity:20,729(7,524)(18,696)(7,956)(13,256)(5,782)(20,096)
TOTAL LIABILITIES AND EQUITY:50,8583031234895(18,190)

Income statement (P&L) ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Revenues2,33150  8533
Cost of revenue
(Cost of Goods and Services Sold)
(679)    (109) 
Other undisclosed gross profit      (74)
Gross profit:1,60250  85(106)(71)
Operating expenses(2,563)(600)(327)(385)(404)(1,493)(2,183)
Other undisclosed operating income50    0 
Operating loss:(912)(550)(327)(385)(318)(1,599)(2,254)
Nonoperating income (expense)(10,260)(2,929)(10,414)5,470(7,632)6,178 
Investment income, nonoperating 469     
Other nonoperating income (expense)15  5,470(7,632)6,178 
Interest and debt expense58(68)(395)(479)(560)(73)46
Income (loss) from continuing operations before equity method investments, income taxes:(11,114)(3,547)(11,135)4,606(8,510)4,506(2,208)
Other undisclosed income (loss) from continuing operations before income taxes(58)6839565956073 
Net income (loss):(11,171)(3,479)(10,740)5,265(7,950)4,579(2,208)
Other undisclosed net loss attributable to parent      (17,506)
Net income (loss) available to common stockholders, diluted:(11,171)(3,479)(10,740)5,265(7,950)4,579(19,714)

Comprehensive Income ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Net income (loss):(11,171)(3,479)(10,740)5,265(7,950)4,579(2,208)
Other comprehensive income (loss)(38)3,547     
Other undisclosed comprehensive income3,547      
Comprehensive income (loss):(7,663)68(10,740)5,265(7,950)4,579(2,208)
Other undisclosed comprehensive loss, net of tax, attributable to parent(8)      
Comprehensive income (loss), net of tax, attributable to parent:(7,671)68(10,740)5,265(7,950)4,579(2,208)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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