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.

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