Stock of Life Clips, Inc. (OTCPink: LCLP) has soared 100.00% to $0.0096 at the close of yesterday’s market. In contrast to its Average Weekly Volume of 38.31 million shares, the volume of Life Clips stock was 619.36 million on Monday. After Life Clip issued its shareholders a CEO letter, LCLP stock soared. But that is not just the factor as recent acquisition move by LCLP has also been driving the price higher.
The acquisition was made for what?
Based in the United States, Life Clips, Inc. develops, manufactures, and sells cameras and batteries. LCLP manufactures and distributes cellular phone batteries, body cameras, pen drives, and other mobile accessories under the Mobeego brand. A software solution developed by LCLP also assists law enforcement.
Life Clips products are mainly sold through distributors and retailers. Mobeego is a brand of batteries used in cell phones and other mobile products distributed by LCLP. Its batteries are designed for use in single-use and cordless devices.
In the last week, Life Clips announced the closing of its acquisition of Cognitive Apps Software Solutions Inc.
- Healthcare and psychedelic researchers can turn to Cognitive Apps for artificial intelligence (AI) applications.
- The Cognitive Apps platform helps companies to measure the mental health of their employees, customers, and patients by leveraging artificial intelligence.
- It’s the objective of the Cognitive Apps solution to achieve the Three Pillars of health care: better and more personalized care for each individual; to decrease the cost and time of healthcare delivery; and improved diagnosis.
- There are currently active partnerships with Mycotopia, Betterhelp, Movefit, Ehave, Welmind EMR, and Belshare, at Cognitive apps.
How will LCLP benefit from the acquisition?
This acquisition gives Life Clips (LCLP) access to the Intellectual Property (IP) of Cognitive Apps, including artificial intelligence-enabled speech technology, and the team responsible for its development and implementation. The LCLP will use Cognitive Apps’ technology together with other molecules of mental health indications to further develop and test their use in the treatment of several mental disorders.