Item 8.01 Other Events.
The Company has previously entered into certain convertible promissory notes
that have been reported in the aggregate on its financial statements. The
company is hereby providing a breakdown of those notes.
Edgestone Associates Inc. ("Edgestone") and Life Clips Inc. (the "Company")
entered into a Convertible Promissory Note in the original principal amount of
$700,000 dated May 13, 2016, as amended on August 11, 2017, and March 8, 2018,
and a Convertible Promissory Note in the original principal amount of $250,000
dated February 17, 2017 (the "Edgestone Notes"). On November 30, 2018, Edgestone
assigned $397,591.51 of principal plus a pro-rata amount of accrued and unpaid
interest to New Castle County Services Inc. ("New Castle"). On April 22,, 2021,
Leviston Resources LLC acquired the Edgestone Notes including that portion of
the Notes that had been assigned to New Castle. Leviston and the Company then
entered into an amended and restated note in the principal amount of
$2,298,976.14 (the "Leviston Note") that was compromised of the Edgestone Notes,
the amounts assigned to New Castle, and the accrued and unpaid interest thereon.
On October 12, 2021, Leviston sold a portion of the Leviston note in the amount
of $1,038,770.92 to Keystone Capital Partners LLC. Keystone and the Company then
entered into an amended and restated note for $1,038,770.92. The Company and
Keystone entered into the amended and restated note for the convenience of
administration and no additional consideration was paid.
On October 12, 2021, Leviston sold a portion of the Leviston Note in the amount
of $794,354.24 to Mastiff Group LLC. The Company and Mastiff entered into the
amended and restated note in the principal amount of $794,354.24 for the
convenience of administration and no additional consideration was paid.
On July 1, 2021, Susannah Forest entered into a Convertible Promissory Note (the
"July 2021 Note") with the Company in the principal amount of $1,066,653.94,
consolidating the following convertible promissory notes entered as of the dates
indicated:
12/07/2015 $ 250,000.00
04/27/2016 $ 300,000.00
02/23/2017 $ 50,000.00
03/17/2017 $ 50,000.00
03/28/2017 $ 50,000.00
The July 2021 Note included accrued interest and penalties. Forest subsequently
sold and assigned the July 2021 Note to Mastiff Group LLC on November 10, 2021.
Mastiff then entered into an amended and restated convertible promissory note
with the Company in the principal amount of $1,097,046.27 consisting of the
principal plus accrued interest from the July 2021 Note. The Company and Mastiff
entered into the amended and restated note for the convenience of administration
and not additional consideration was paid.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed with this Current Report on Form 8-K.
Exhibit Description
Number
10.1 Convertible Promissory Note in the Principal Amount of
$1,038,770.92 between Life Clips and Keystone Capital Partners
LLC
10.2 Convertible Promissory Note in the Principal Amount of
$1,097,046.27 between Life Clips and Mastiff Group LLC
10.3 Convertible Promissory Note in the Principal Amount of
$794,354.24 between Life Clips and Mastiff Group LLC
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)© Edgar Online, source Glimpses
LIFE CLIPS, INC. 
