Life Clips, Inc.
COMPANY
10-Q
FORM
2017-05-19
FILING DATE
2017-03-31
Q3 PERIOD END
660
FACTS
SIC 3861
Filing Software Novaworks
CIK 0001604930
Taxonomy US GAAP 2017
SIC 3861
CIK 0001604930
Filing Software Novaworks
Taxonomy US GAAP 2017
Standard Concepts
199
Extended Concepts
104
34%
Extended Concepts
Errors
0
What are errors?
What are errors?
Indicate problems with an XBRL formatted filing that are sufficient grounds for SEC rejection of the XBRL portion of the filing.
ERROR
Assets with a value of 251,540 is not equal to the total of Liabilities and Equity with a value of 251,440. These values should be equal. The properties of this us-gaap:Assets fact are: Period: 2017-03-31 Dimensions: none Unit: USD Rule version: 1.0.0
ERROR
The date of 2016-05-19 used for Entity Common Stock, Shares Outstanding with a value of 133,393,629 is earlier than the reporting period end date 2017-03-31. Update the date used for Entity Common Stock, Shares Outstanding to be the same as the cover sheet of the filing. The properties of this dei:EntityCommonStockSharesOutstanding fact are: Period: 2016-05-19 Dimensions: none Unit: shares Rule version : 2.1.0
ERROR
The date of 2017-01-23 used for Debt periodic payment and the Subsequent Event Type [Axis] with a value of 20,000 is earlier than or the same as the reporting period end date of 2017-03-31. Either remove the subsequent event axis from this value, change the reporting period end date for the value or update the Document and Entity Information document period end date. The properties of this us-gaap:DebtInstrumentPeriodicPayment fact are: Period: 2017-01-22 to 2017-01-23 Dimensions: us-gaap:Sub...
ERROR
The date of 2017-01-23 used for Debt default amount and the Subsequent Event Type [Axis] with a value of 250,000 is earlier than or the same as the reporting period end date of 2017-03-31. Either remove the subsequent event axis from this value, change the reporting period end date for the value or update the Document and Entity Information document period end date. The properties of this us-gaap:DebtDefaultLongtermDebtAmount fact are: Period: 2017-01-23 Dimensions: us-gaap:SubsequentEventTyp...
ERROR
The date of 2017-01-11 used for Aggregate shareholders related to consulting fees and the Subsequent Event Type [Axis] with a value of 20,000 is earlier than or the same as the reporting period end date of 2017-03-31. Either remove the subsequent event axis from this value, change the reporting period end date for the value or update the Document and Entity Information document period end date. The properties of this LCLP:AggregateShareholdersRelatedToConsultingFees fact are: Period: 2017-01-...
ERROR
Fair value mark to market adjustment - convertible debt has a value of -15,355,804 which is less than zero. This element should not have a negative value. The properties of this us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue fact are: Period: 2017-03-31 Unit: USD Rule version: 2.0.0
ERROR
Repayments has a value of -581,112 which is less than zero. This element should not have a negative value. The properties of this us-gaap:RepaymentsOfLongTermDebt fact are: Period: 2016-07-01 to 2017-03-31 Dimensions: none Unit: USD Rule version: 3.0.1
ERROR
Repayments has a value of -85,000 which is less than zero. This element should not have a negative value. The properties of this us-gaap:RepaymentsOfLongTermDebt fact are: Period: 2015-07-01 to 2016-06-30 Dimensions: none Unit: USD Rule version: 3.0.1
ERROR
Convertible Debt, Current has a value of -108,953 which is less than zero. This element should not have a negative value. The properties of this us-gaap:ConvertibleDebtCurrent fact are: Period: 2016-06-30 Dimensions: none Unit: USD Rule version: 3.0.1
ERROR
Convertible Debt, Current has a value of -602,671 which is less than zero. This element should not have a negative value. The properties of this us-gaap:ConvertibleDebtCurrent fact are: Period: 2017-03-31 Dimensions: none Unit: USD Rule version: 3.0.1
ERROR
Amortization of Debt Issuance Costs has a value of -1,161,979 which is less than zero. This element should not have a negative value. The properties of this us-gaap:AmortizationOfFinancingCosts fact are: Period: 2016-07-01 to 2017-03-31 Dimensions: none Unit: USD Rule version: 3.0.1
ERROR
Amortization of Debt Issuance Costs has a value of -487,399 which is less than zero. This element should not have a negative value. The properties of this us-gaap:AmortizationOfFinancingCosts fact are: Period: 2015-07-01 to 2016-06-30 Dimensions: none Unit: USD Rule version: 3.0.1
ERROR
Number Shares Common Stock has a value of -2,600,000 which is less than zero. This element should not have a negative value. The properties of this us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights fact are: Period: 2017-03-31 Dimensions: us-gaap:RelatedPartyTransactionsByRelatedPartyAxis = LCLP:ExercisedMember Unit: shares Rule version: 3.0.1
ERROR
Number Shares Common Stock has a value of -1,916,500 which is less than zero. This element should not have a negative value. The properties of this us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights fact are: Period: 2017-03-31 Dimensions: us-gaap:RelatedPartyTransactionsByRelatedPartyAxis = LCLP:ExercisedOneMember Unit: shares Rule version: 3.0.1
ERROR
Impairment charge has a value of -14,625 which is less than zero. This element should not have a negative value. The properties of this us-gaap:ImpairmentOfIntangibleAssetsExcludingGoodwill fact are: Period: 2016-07-01 to 2017-03-31 Dimensions: none Unit: USD Rule version: 3.0.1
ERROR
Impairment charge has a value of -646,980 which is less than zero. This element should not have a negative value. The properties of this us-gaap:ImpairmentOfIntangibleAssetsExcludingGoodwill fact are: Period: 2015-07-01 to 2016-06-30 Dimensions: none Unit: USD Rule version: 3.0.1
What are data quality errors?
What are data quality errors?
Indicate areas that may not meet the standards set by the Data Quality Committee (DQC), and may reveal areas where the XBRL can be improved.