Shares of Life Clips Inc (OTCMKTS:LCLP) are moving higher this morning trading up as much as 80% at one point after the company’s President, Chief Executive Officer, and Chairman Robert Ginsberg issued a letter to the shareholders of the company.
In the letter, Ginsberg stated that the company has made considerable progress in the past few months with regards to the advancement of Life Clips’ strategic plan. The most important update provided by Ginsberg was that the company is now current and fully reports to the United States Securities and Exchange Commission.
In his words:- ” Over the course of the last few months, Life Clips, Inc. has made significant progress in advancing its strategic plan and we are off to a tremendous start. First, I am proud to report that Life Clips is current in its status as a fully reporting company with the SEC.”
He went on to state in his letter that the company’s Chief Financial Officer and the team led by her had worked hard for months in order to bring about the current status.
Last week, LCLP announced an important development. Life Clips Inc announced that it completed the acquisition of the company Cognitive Apps Software Solutions which is involved in developing artificial intelligence-powered solutions that are meant for the healthcare industry.
Cognitive Apps provides an AI powered mental health analytics platform empowering businesses to measure, understand, and improve the mental well-being of their employees, patients or customers. Cognitive Apps was designed specifically to improve diagnostic outcomes, population health, and to provide a better care experience. This is accomplished by processing data into actionable insight that impacts operational benefits and patient outcomes. By recording an individual’s voice periodically on a handset, iPad, or tablet, the Cognitive Apps assessment is designed to provide a picture of changes in mental health. The Cognitive Apps’ assessment will allow us to monitor mental health and track variables that might be impacted by treatment.
About Life Clips, Inc.
Life Clips is the parent company of Cognitive Apps Software Solutions Inc. and distributes single-use and cordless batteries under the Mobeego brand for use with cellular phones and other mobile devices. Cognitive Apps is an AI-Powered mental health analytics platform that empowers businesses to measure, understand, and improve mental well-being of their employees, patients and customers. Drug development for mental health disorders and other cognitive impairments is hampered by the inability to identify at risk groups before the onset of clinically significant symptoms, as well as continuous assessments on the progress made by the participants. Cognitive Apps is addressing this problem by pioneering a speech-based AI technology which could help accurately predict risk for various types of depression and mood and anxiety-based disorders years before a clinical diagnosis is obtained. Our technology can help detect and monitor subtle changes in mental state by assessing individuals more frequently and more objectively than the assessments used today.