Life Clips Inc. (OTCMKTS:LCLP)
Life Clips Inc. (OTCMKTS:LCLP) has signed an exclusive distribution agreement with a Taipei-based distributor that further expands the target market for Mobeego battery products. Under the terms of the agreement, the distributor is to sell the products in Thailand and Taiwan with the option of renewing the contract for an additional year if pre-set obligations are met.
Growth in Asia-Pacific
The distributor will have to pay, in advance, 50% for each order and 50% upon delivery. The agreement also provides the contractor with access to certain accounts in China, Hong Kong, India, and the Philippines among other countries.
Life Clips Inc. (OTCMKTS:LCLP) expects Mobeego products to elicit strong demand in Thailand given that data consumption for Thai smartphones is 60% higher compared to other countries. The fact that Asia-Pacific markets are poised to account for a huge chunk of the $107.2 billion mobile phone accessories market going forward should present unique opportunities for the company.
“Our goal is to provide our customers with the ability to stay mobile and connected whenever and wherever they go. Unlike cumbersome chargers with a cord, Mobeego is small, lightweight, and cordless and has a shelf life of 10 years. Once you have used it up, the Mobeego battery can be recycled, disposed of and replaced, “said Life Clips Chief executive officer Huey Long
Expansion in Thailand and Taiwan follows the signing of another distribution agreement that will make Mobeego products available in the fast-growing Japanese markets. Life Clips has already signed a royalty-free, non-exclusive one-year contract with a Japanese-based distributor. Pursuing sales in Japan is part of the company’s push to make its core products available on the global scene.
Separately, Life Clips Inc. (OTCMKTS:LCLP) has secured a $450,000 commitment from a number of existing investors. The provider of global sourcing and sales marketing services plans to use the proceeds for general operating expenses. The company is also planning to expand its sourcing operations as well as sales and marketing capabilities both at home and in the international markets. The investment comes at a time when the company is undergoing a transition that seeks to make it an end-to-end product development company.
Life Clips Inc. (OTCMKTS:LCLP) stock was up by 9.09% in Friday trading session ending the week at highs of $0.006 a share.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.