secwatch.observer — SEC 8-K summary
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Issuer:     Limitless X Holdings Inc. (LIMX)
CIK:        0001803977
Form:       8-K
Filed at:   2025-03-25T23:59:59+00:00
Accession:  0001641172-25-000444
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO loans $500K to Limitless X at 12.5% interest, receives common and preferred stock
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- Company borrows $500,000 from CEO Jaspreet Mathur at 12.5% fixed interest; total repayment $562,500.
- Maturity date earlier of Sept 21, 2025 or when company secures at least $1M in a qualified offering.
- Proceeds used for legal fees ($200K), employee wages ($143K), audit/marketing ($63K), and inventory/operations ($93K).
- Additional consideration: 225,000 common shares and 10,000 Class D Preferred shares issued to CEO.
- Loan reflects short-term cash needs; equity issued in unregistered transaction exempt under Section 4(a)(2).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1803977/000164117225000444/0001641172-25-000444-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1803977/000164117225000444/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-000444

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