secwatch.observer — SEC 8-K summary
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Issuer:     Limitless X Holdings Inc. (LIMX)
CIK:        0001803977
Form:       8-K
Filed at:   2026-04-09T23:59:59+00:00
Accession:  0001493152-26-015866
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1803977/000149315226015866/0001493152-26-015866-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1803977/000149315226015866/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-015866

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer