debt
confidence high
sentiment neutral
materiality 0.30
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.
item 1.01item 2.03item 9.01