AVENTURA, Fla., April 19, 2021 — Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) today announced that its subsidiary Cognitive Apps Software has completed a successful launch of its Yuru 3-in-1 tool for understanding and managing your mental health. The initial results on Apple’s App Store showed a weekly download conversion rate of 5.6% on more than 189,000 impressions and 19,900 product page views. App Units were 8,500 with average sales per paying user of $28.10. App Units are the number of first-time paid and free app purchases made on the App Store using iOS 8 and tvOS 9 or later. App updates and downloads from the same Apple ID onto other devices, and redownloads to the same device are not counted.
Yuru is an innovative application in the field of psychological assistance that has been developed by a team of licensed psychotherapists. Yuru is a personal mental health monitor that screens early signs of mental health conditions, such as stress and depression. In just 10 seconds, it makes use of vocal biomarkers to recognize your real current emotional state and mood, while tracking your mental health. Yuru also provides you with extensive knowledge about human development and the psychology of everyday life. Yuru involves tracking of your emotions and mood, analysis of your mental state, and treatment for improving your mental well-being. Life Clips appreciates all of its shareholders and would like to provide them with complimentary lifetime free access to the Yuru app. Shareholders are invited to download the app on the Apple store using this link https://apps.apple.com/us/app/yuru-stress-test-self-care/id1502398978.
According to a December 03, 2020 article in The Harvard Business Review, the U.S. has long suffered from a severe shortage of mental health care services. The pandemic has put a spotlight on the effectiveness and wide availability of digital and virtual mental health care, and by doing so might have thrown a lifeline to our mental health system. The article went on to say sixty percent of young people with major depression received no mental health treatment in 2017-2018, and one quarter of adults with mental illness reported an unmet need for treatment. In the U.S., 55% of counties have no psychiatrist, psychologist or social worker, and 70% don’t have a single child psychiatrist. Queues for substance abuse care can be weeks long; 70% of those who needed substance use treatment in 2017 did not receive it. To make it worse, many practices have closed or reduced their capacity in response to pandemic health concerns. As a result, mental health vendors are combining digital tools and virtual care to create a robust ecosystem for end-to-end patient care, including steering patients to in-person care when needed. This combination of tools provides the mental health care system with scalable solutions and increased flexibility while improving access and convenience for consumers. Because of these benefits, the majority of employer-sponsored health plans now offer virtual and digital options for mental health care.i
Dr. Manideep Gopishetty, CEO and Co-founder of Cognitive Apps, said, “The Yuru team is very pleased to see our numbers climb following this initial introduction of our mental health app. We believed our messaging was going to result in a strong source of new users due to the enormity of the market. It is the right time to aggressively market our online mental health platform. These strong early results are encouraging.”
Robert Grinberg, CEO and President of Life Clips, Inc. said, “I would like to congratulate Dr. Gopishetty and his team on a successful rollout of Yuru. Yuru is a true mental health companion that warns you if it notices that you need professional guidance from a therapist. It nudges you to pay attention to your mental state if there is a change in your stress level. By analyzing vocal biomarkers received from your voice, Yuru reports a spectrum of your current emotions, your daily mood, and the overall status of your mental health. We look forward to expanding the Yuru platform, as well as making future acquisitions that are in line with our business plan.”
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.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law.
Contact: LifeClips, Inc.
Gabriel P. Rodriguez
Investor Relations: (623) 261-9046