secwatch.observer — SEC 8-K summary
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Issuer:     Limitless X Holdings Inc. (LIMX)
CIK:        0001803977
Form:       8-K
Filed at:   2023-06-06T23:59:59+00:00
Accession:  0001493152-23-020272
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Limitless X sells Vybe Labs to CEO-owned entity for debt settlement; CEO commits $1M working capital
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- Sold all 5,000 shares of Vybe Labs to CEO-owned Emblaze One in full settlement of $1,167,011 debt.
- CEO Jaspreet Mathur committed up to $1,000,000 working capital via convertible notes at 10% interest, one-year term.
- Conversion price $1.50/share into Preferred Class B; conversion only upon IPO or change-of-control on Nasdaq/NYSE.
- Both transactions are related-party deals approved by disinterested board directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1803977/000149315223020272/0001493152-23-020272-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1803977/000149315223020272/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-020272

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer