Limitless X Holdings Inc. (LIMX): debt financing — Limitless X enters two promissory notes with CEO-controlled entity for up to $100K

Limitless X Holdings Inc.

Promissory Note 1: $25K principal at 15% interest ($28,750 total), due Dec 9, 2025 or upon $1M financing, proceeds for auditing fees.
Promissory Note 2: $75K principal at 15% interest ($86,250 total), due Dec 11, 2025 or upon $1M financing; includes 15,000 shares of common stock as additional consideration.
Only $20,000 advanced on Note 2 as of June 13, 2025; remaining $55,000 to be funded by June 23, 2025.
Both notes from EM1 Capital LLC, controlled by CEO Jaspreet Mathur, making them related-party transactions.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Limitless X Holdings Inc. incurred loan of $25,000.00 with EM1 Capital LLC at 15% fixed maturing (i) December 9, 2025 or (ii) the date on which the Company secures funding of at least $1 million in an offering, whichever comes first.

Instrument: loan
Principal: $25,000.00
Counterparty: EM1 Capital LLC
Rate: 15% fixed
Maturity: (i) December 9, 2025 or (ii) the date on which the Company secures funding of at least $1 million in an offering, whichever comes first
Event: incurrence

Exact text from the filing

$25,000 Promissory Note and Amendment Effective as of June 9, 2025, EM1 Capital LLC (“EM1”), an entity controlled by Jaspreet Mathur, Chief Executive Officer, Chairman, and a greater than 10% shareholder in Limitless X Holdings Inc. (the “Company”), entered into a promissory note with the Company (together with the Amendment (as defined herein) “Promissory Note 1”) in the amount of $25,000.00 plus accrued interest at the agreed upon rate of 15% fixed equaling the total sum of $28,750 (the “P1 Full Balance”).

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Limitless X Holdings Inc. incurred loan of $75,000.00 with EM1 Capital LLC at 15% fixed maturing (i) December 11, 2025 or (ii) the date on which the Company secures funding of at least $1 million in an offering, whichever comes first.

Instrument: loan
Principal: $75,000.00
Counterparty: EM1 Capital LLC
Rate: 15% fixed
Maturity: (i) December 11, 2025 or (ii) the date on which the Company secures funding of at least $1 million in an offering, whichever comes first
Event: incurrence

Exact text from the filing

Effective as of June 11, 2025 (“Effective Date”), EM1 entered into a promissory note with the Company (“Promissory Note 2”) in the amount of $75,000.00 plus accrued interest at the agreed upon rate of 15% fixed equaling the total sum of $86,250 (the “P2 Full Balance”).

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Limitless X Holdings Inc. amended loan with EM1 Capital LLC.

Instrument: loan
Counterparty: EM1 Capital LLC
Event: amendment

Exact text from the filing

Effective June 12, 2025, the Company and EM1 entered into a First Amendment to Promissory Note (the “Amendment”). The effect of the Amendment served to change the governing law provision of Promissory Note 1 from California to Delaware.

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Limitless X Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-015047

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