debt
confidence high
sentiment neutral
materiality 0.65
Limitless X converts $3.375M debt to Series D Preferred; signs Pauly D endorsement for $250K/year
Limitless X Holdings Inc.
- Debt conversion with CEO Jaspreet Mathur: $3M principal + $375K interest settled by issuing 135K shares of Series D 15% Cumulative Preferred.
- Endorsement agreement with Pauly D: $150K cash + $100K restricted stock per year, 3-year initial term.
- Series D Preferred: $25 liquidation preference, 15% cumulative dividend, no voting rights, redeemable after 2 years.
- First $50K restricted stock for Pauly D due shortly; remaining $50K on first anniversary.