Limitless X Holdings, Inc. Secures $500,000 in Strategic Financing to Support Growth and Operations via Chairman & CEO, Jas Mathur

Rhea-AI Summary

Limitless X Holdings (OTCQB: LIMX) has secured a $500,000 strategic financing from its Chairman and CEO, Jas Mathur, to support operational initiatives and growth. The loan features a 12.5% interest rate, maturing in six months or upon closing of a $1 million qualified financing, resulting in a total repayment of $562,500.

As part of the agreement, Limitless X will issue 225,000 restricted common shares and 10,000 Class D Perpetual Preferred Stock to Mathur. The funds will be allocated towards working capital and operational expenses, including inventory procurement, marketing initiatives, employee compensation, and legal and accounting fees.

Positive

• CEO demonstrates confidence in company through personal $500,000 investment
• Immediate access to working capital for operations and growth initiatives
• Financing secured without traditional banking constraints

Negative

• High 12.5% interest rate indicates expensive financing terms
• Significant equity dilution through issuance of both common and preferred shares
• Short 6-month maturity period creates near-term repayment pressure
• Reliance on CEO funding suggests possible difficulties in securing external financing

Los Angeles, CA, March 24, 2025 (GLOBE NEWSWIRE) -- Limitless X Holdings, Inc. (OTCQB: LIMX), a company dedicated to inspiring and empowering individuals while also maximizing shareholder value through a dynamic, value-driven ecosystem that integrates health, wellness, entertainment, fintech and real estate today announced that it has secured $500,000 in strategic financing to strengthen its operations and facilitate continued growth. The loan, provided by Jaspreet Mathur, the company’s Chairman and CEO, will be used to support key operational initiatives, including legal and compliance fees, employee and contractor wages, audit and marketing expenses, and inventory procurement.

Under the terms of the agreement, the loan will mature in six months or upon the closing of a $1 million qualified financing, whichever occurs first. The financing carries a fixed 12.5% interest rate, amounting to a total repayment of $562,500. Additionally, as part of the consideration for the financing, Limitless X will issue 225,000 restricted shares of its common stock and 10,000 shares of Class D Perpetual Preferred Stock to Mr. Mathur.

“This financing underscores my personal commitment to Limitless X and our mission to drive innovation in the health and wellness industry,” said Jaspreet Mathur, Chairman and CEO of Limitless X. “By ensuring the company has the necessary capital to meet its obligations and execute on strategic initiatives, we continue to position Limitless X for long-term success and value creation for our shareholders.”

The proceeds from the financing will be allocated towards general working capital and operational expenses, including inventory procurement, marketing initiatives, employee and contractor compensation, as well as legal and accounting fees.

Limitless X remains committed to expanding its portfolio of Look Good, Feel Great products, films, digital platforms, blockchain initiatives, and real estate ventures. This strategic capital infusion will supply the essential resources to sustain operations while driving an ambitious growth strategy.

For further information, please visit www.limitlessx.com.

About Limitless X Holdings Inc.
Limitless X Holdings Inc. is building a dynamic, value-driven and recession-proof ecosystem designed to help individuals "Look Good and Feel Great" by integrating Health, Wellness, Entertainment, Fintech, Community Building, and Brand Development. Through its wholly owned subsidiary, Limitless X Inc., the company specializes in direct-to-consumer eCommerce, offering innovative products and services that empower people to reinvent themselves and become the best versions of themselves. The parent company is poised to make a significant impact in the digital assets space by leveraging blockchain-based equity instruments to provide innovative solutions that help investors diversify their portfolios while effectively managing risk. Additionally, the company is expanding into the real estate industry and film production, with plans to develop and produce films that align with its core philosophy of "Feeling Great" and “Satisfied”. By leveraging advanced online marketing strategies, key relationships, and a global reach, Limitless X is positioned to become a household name, delivering unmatched value to customers, driving long-term growth for shareholders, and fostering meaningful connections within communities worldwide.

Media Contact
media@limitlessx.com

Investor Relations Contact
investors@limitlessx.com
800-736-2030

FAQ

What are the terms of LIMX's $500,000 strategic financing announced in March 2024?

The loan has a 12.5% interest rate, matures in 6 months or upon $1M qualified financing, and includes issuance of 225,000 restricted common shares and 10,000 Class D Preferred Stock.

How will LIMX use the $500,000 strategic financing proceeds?

The funds will be used for working capital, inventory procurement, marketing initiatives, employee compensation, and legal/accounting fees.

What is the total repayment amount for LIMX's March 2024 strategic financing?

The total repayment amount is $562,500, based on the 12.5% interest rate on the $500,000 loan.

What equity compensation is LIMX providing for the $500,000 strategic financing?

LIMX is issuing 225,000 restricted common shares and 10,000 shares of Class D Perpetual Preferred Stock to CEO Jas Mathur.