secwatch.observer — SEC 8-K summary
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Issuer:     Limitless X Holdings Inc. (LIMX)
CIK:        0001803977
Form:       8-K
Filed at:   2024-12-16T23:59:59+00:00
Accession:  0001493152-24-050148
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO Jaspreet Mathur lends $145k to Limitless X Holdings via promissory note, receives 50k shares
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- Promissory note of $145,000 principal ($153,700 with 12% interest) from CEO/Chairman/10% holder Mathur to the company.
- Maturity due June 10, 2025 or upon company securing $1M+ in a qualified financing, whichever is earlier.
- As additional consideration, company will issue 50,000 restricted common shares to Mathur within two business days.
- Loan proceeds earmarked for re-audit fee, securities attorney invoices, and recent marketing expenses.
- Default triggers immediate acceleration; 3% monthly default interest and collection costs apply.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1803977/000149315224050148/0001493152-24-050148-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1803977/000149315224050148/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-050148

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