As result of the agreement with Hewlett Packard, Life Clips[R] (OTCQB: LCLP
) will no longer manufacture Life Clips branded action cameras and will now only manufacture action, still, dash, 360 cameras and accessories under the HP brand.
p bar = total number of errors/ total number of records examined = 489/ (100) 26 = .1881 [sigma]p hat = [square root of(.1881)(l-.1881)]/100 = .0391 standard deviation of the percent defective UCLp = p bar + z [sigma]p hat = .1881 +3 (.0391) = .3054 LCLp = p bar - z [sigma]p hat = .1881 - 3 (.0391) = .0708 And the centerline p bar = .1881
112 + 3 (.0315) = .2066 LCLp = p bar - z [sigma]p hat = .112 - 3 (.0315) = .0175 And the centerline p bar = .1120
UCLp and LCLp
= Upper and lower control limits (3 standard deviations from mean).
This is the third six-figure international distribution agreement within the past 30 days for LCLP
. August 4, 2016.
The loan is repayable on the earlier of: (i) six months from the date of initial advance; (ii) the date of any change of control of Lumina; or (iii) the occurrence of an event of default under the credit agreement between Lumina and LCLP.
As the loan is not convertible into equity or voting securities of Lumina, there is not expected to be an effect on the percentage of securities of Lumina held by LCLP as a result of the loan.