Limitless X issues 1.34M shares for wage claims, 320K Class C shares for $8M debt, 1.95M shares to directors

Limitless X Holdings Inc.

Issued 1.34M common shares to five employees to settle $536K in unpaid wages for Sep–Dec 2024.
Issued 320K shares of Class C Preferred (convertible to 32M common) to 4 vendors to settle $7.96M in debt.
Granted 1.95M common shares to seven directors for $972.5K in accrued fees from May 2022–Dec 2024.
Removed 4.99% conversion cap on Class C Preferred, allowing full conversion into common shares.
Total common shares outstanding now 12.3M as of Jan 14, 2025, up sharply.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Limitless X Holdings Inc.: Amended and restated Certificate of Designation of Class C Convertible Preferred Stock to remove a 4.99% beneficial ownership limitation on conversion of Class C stock into common shares (effective 2025-01-09).

Change: charter amendment
Effective: 2025-01-09

Exact text from the filing

to remove a beneficial ownership limitation of 4.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of shares of the Company’s common stock issuable upon conversion of Class C Stock held by the applicable holder.

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Limitless X Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-002307

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