Limitless X issues 550k preferred shares to CEO to settle $50k bonus

Limitless X Holdings Inc.

Issued 550,000 Class B Convertible Preferred shares to CEO Jaspreet Mathur to settle $50,000 bonus obligations.
Each Class B share converts into 0.067 common shares (~36,850 common shares); beneficial ownership capped at 4.99%.
Settlement covers all bonus and incentive compensation promised under Mathur's offer letter and for acquiring celebrity contracts.
Stock price used for valuation: $1.25 per common share as of April 8, 2026.
Shares are restricted under Securities Act; no dividends, $3 liquidation preference senior to common.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Limitless X Holdings Inc. issued 550,000 shares of the Company’s Class B Convertible Preferred Stock of preferred stock to Jaspreet Mathur for full compensation for all bonus payments which are or may be owed to Mathur under his offer letter and as previously promised to him to acquire celebrity contra.

Security: preferred stock
Shares: 550,000 shares of the Company’s Class B Convertible Preferred Stock
Purchaser: Jaspreet Mathur
Consideration: full compensation for all bonus payments which are or may be owed to Mathur under his offer letter and as previously promised to him to acquire celebrity contra

Exact text from the filing

The Company agreed to cause to be issued to Mathur a total of 550,000 shares of the Company’s Class B Convertible Preferred Stock (the “Class B Preferred Shares”).

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Limitless X Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-015866

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