Limitless X Holdings, Inc. Chairman & CEO, Jas Mathur, Converts $3.3 Million Debt into Perpetual Preferred Equity, Signaling Bold Commitment to Accelerated Growth and Market Leadership
Limitless X Holdings (OTCQB: LIMX) announced that Chairman & CEO Jas Mathur has converted $3.3 million of debt into perpetual preferred equity without conversion or voting rights, marking a significant step to strengthen the company's balance sheet. Additionally, Mathur has waived all royalties for brands he contributed to the company for at least the next three years.
The company, focused on health, wellness, entertainment, fintech, and real estate, aims to leverage innovative marketing strategies for brand building and scaling. This strategic move reflects Mathur's commitment to the company's long-term success and positions Limitless X to capitalize on market opportunities in the current economic landscape.
Limitless X Holdings (OTCQB: LIMX) ha annunciato che il Presidente e CEO Jas Mathur ha convertito 3,3 milioni di dollari di debito in azioni privilegiate perpetue senza diritti di conversione o di voto, segnando un passo significativo per rafforzare il bilancio dell'azienda. Inoltre, Mathur ha rinunciato a tutte le royalty per i marchi che ha contribuito a portare all'azienda per almeno i prossimi tre anni.
L'azienda, concentrata su salute, benessere, intrattenimento, fintech e immobiliare, punta a sfruttare strategie di marketing innovative per costruire e far crescere i propri marchi. Questa mossa strategica riflette l'impegno di Mathur per il successo a lungo termine dell'azienda e posiziona Limitless X per capitalizzare sulle opportunità di mercato nell'attuale contesto economico.
Limitless X Holdings (OTCQB: LIMX) anunció que el presidente y CEO Jas Mathur ha convertido 3,3 millones de dólares de deuda en acciones preferentes perpetuas sin derechos de conversión ni de voto, lo cual marca un paso significativo para fortalecer el balance de la compañía. Adicionalmente, Mathur ha renunciado a todas las regalías por las marcas que ha aportado a la compañía durante al menos los próximos tres años.
La empresa, enfocada en salud, bienestar, entretenimiento, fintech e inmobiliaria, tiene como objetivo aprovechar estrategias de marketing innovadoras para construir y escalar marcas. Este movimiento estratégico refleja el compromiso de Mathur con el éxito a largo plazo de la compañía y posiciona a Limitless X para capitalizar las oportunidades del mercado en el actual panorama económico.
Limitless X Holdings (OTCQB: LIMX)는 의장겸 CEO인 Jas Mathur가 330만 달러의 부채를 전환할 권리 및 의결권 없이 영구 우선주로 전환했다고 발표했습니다. 이는 회사의 재무 상태를 강화하는 중요한 단계입니다. 또한 Mathur는 앞으로 3년간 자신이 회사에 기여한 브랜드에 대한 모든 로열티를 포기했습니다.
건강, 웰빙, 엔터테인먼트, 핀테크 및 부동산에 중점을 둔 이 회사는 브랜드 구축 및 확장을 위해 혁신적인 마케팅 전략을 활용하는 것을 목표로 하고 있습니다. 이 전략적 조치는 Mathur의 회사의 장기적인 성공에 대한 약속을 반영하며, 현재 경제 환경에서 시장 기회를 활용할 수 있도록 Limitless X를 위치시킵니다.
Limitless X Holdings (OTCQB: LIMX) a annoncé que le président-directeur général Jas Mathur avait converti 3,3 millions de dollars de dettes en actions privilégiées perpétuelles sans droits de conversion ni de vote, marquant une étape importante pour renforcer le bilan de l'entreprise. De plus, Mathur a renoncé à toutes les redevances pour les marques qu'il a contribué à l'entreprise pour au moins les trois prochaines années.
L'entreprise, axée sur la santé, le bien-être, le divertissement, la fintech et l'immobilier, vise à exploiter des stratégies marketing innovantes pour construire et développer des marques. Ce mouvement stratégique reflète l'engagement de Mathur envers le succès à long terme de l'entreprise et positionne Limitless X pour tirer parti des opportunités du marché dans le contexte économique actuel.
Limitless X Holdings (OTCQB: LIMX) gab bekannt, dass der Vorsitzende und CEO Jas Mathur eine Schuld von 3,3 Millionen Dollar in ewige Vorzugsaktien ohne Umwandlungs- oder Stimmrechte umgewandelt hat, was einen wesentlichen Schritt zur Stärkung der Bilanz des Unternehmens darstellt. Darüber hinaus hat Mathur alle Lizenzgebühren für Marken, zu deren Erfolg er beigetragen hat, für mindestens die nächsten drei Jahre verzichtet.
Das Unternehmen, das sich auf Gesundheit, Wellness, Unterhaltung, Fintech und Immobilien konzentriert, beabsichtigt, innovative Marketingstrategien zur Markenbildung und -skalierung zu nutzen. Dieser strategische Schritt spiegelt Mathurs Engagement für den langfristigen Erfolg des Unternehmens wider und positioniert Limitless X, um von den Marktchancen im aktuellen wirtschaftlichen Umfeld zu profitieren.
- Conversion of $3.3M debt to preferred equity improves balance sheet strength
- CEO waiver of brand royalties for 3+ years reduces operational costs
- Preferred equity has no conversion or voting rights, protecting shareholder interests
- Existence of significant debt requiring restructuring ($3.3M)
Los Angeles, CA, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Limitless X Holdings, Inc. (OTCQB: LIMX), a company dedicated to inspiring and empowering individuals while also maximizing shareholder value through a dynamic, value-driven ecosystem that integrates health, wellness, entertainment, fintech and real estate, is excited to announce today announced that its Founder, Chairman & CEO, Jas Mathur, has converted
The conversion into perpetual preferred equity carries no conversion or voting rights, reflecting Mr. Mathur’s commitment to maintaining a solid financial foundation for Limitless X. Additionally, Mr. Mathur has waived all royalties for the brands he has contributed to the Company since its inception. This waiver will be in place for at least the next three years, underlining his dedication to the long-term success of Limitless X.
“Based on the innovative, multifaceted marketing strategies I’ve developed over the last decade, I’m confident that Limitless X is strategically positioned to lead the market in building and scaling powerful brands. These strategies are designed to tap into vast, untapped branding opportunities and are, therefore, designed to put Limitless X on a fast track to explosive growth and long-term success.” said Jas Mathur. “With the economic landscape shifting and a new administration prioritizing entrepreneurial growth, I see enormous potential for companies like ours to thrive. That’s why I’m fully committing my energy and resources to Limitless X, ensuring we continue to capitalize on the foundation we've built and unlock new, game-changing opportunities for the future.”
This strategic move is part of Mr. Mathur’s broader vision to drive innovation and long-term growth for Limitless X Holdings Inc. and all its subsidiaries, solidifying the Company’s financial position and ensuring its ability to capture new opportunities in the ever-evolving market landscape.
About Limitless X Holdings Inc.
Limitless X Holdings Inc. is building a dynamic, value-driven and recession-proof ecosystem designed to help individuals "Look Good and Feel Great" by integrating Health, Wellness, Entertainment, Fintech, Community Building, and Brand Development. Through its wholly owned subsidiary, Limitless X Inc., the company specializes in direct-to-consumer eCommerce, offering innovative products and services that empower people to reinvent themselves and become the best versions of themselves. The parent company is poised to make a significant impact in the fintech space, looking to benefit from equity instruments tied to cryptocurrency and offering unique solutions that enable investors to diversify their portfolios while effectively managing risk. Additionally, the company is expanding into the real estate industry and film production, with plans to develop and produce films that align with its core philosophy of "Feeling Great." By leveraging advanced online marketing strategies, key relationships, and a global reach, Limitless X is positioned to become a household name, delivering unmatched value to customers, driving long-term growth for shareholders, and fostering meaningful connections within communities worldwide.
Media Contact
media@limitlessx.com
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800-736-2030
FAQ
What is the value of debt Limitless X (LIMX) converted to preferred equity in February 2024?
How long has LIMX's CEO waived royalties for contributed brands?
Does the new LIMX preferred equity include conversion or voting rights?
How will the debt conversion affect LIMX's balance sheet?
