Limitless X Holdings, Inc. Secures $500,000 in Strategic Financing to Support Growth and Operations via Chairman & CEO, Jas Mathur
Limitless X Holdings (OTCQB: LIMX) has secured a $500,000 strategic financing from its Chairman and CEO, Jas Mathur, to support operational initiatives and growth. The loan features a 12.5% interest rate, maturing in six months or upon closing of a $1 million qualified financing, resulting in a total repayment of $562,500.
As part of the agreement, Limitless X will issue 225,000 restricted common shares and 10,000 Class D Perpetual Preferred Stock to Mathur. The funds will be allocated towards working capital and operational expenses, including inventory procurement, marketing initiatives, employee compensation, and legal and accounting fees.
Limitless X Holdings (OTCQB: LIMX) ha ottenuto un finanziamento strategico di $500.000 dal suo Presidente e CEO, Jas Mathur, per supportare iniziative operative e crescita. Il prestito prevede un tasso d'interesse del 12,5%, con scadenza di sei mesi o al termine di un finanziamento qualificato di $1 milione, comportando un rimborso totale di $562.500.
Come parte dell'accordo, Limitless X emetterà 225.000 azioni comuni ristrette e 10.000 azioni privilegiate perpetue di Classe D a Mathur. I fondi saranno destinati a capitale circolante e spese operative, inclusi acquisto di inventario, iniziative di marketing, compensi per i dipendenti e spese legali e contabili.
Limitless X Holdings (OTCQB: LIMX) ha asegurado un financiamiento estratégico de $500,000 de su Presidente y CEO, Jas Mathur, para apoyar iniciativas operativas y crecimiento. El préstamo cuenta con una tasa de interés del 12.5%, con vencimiento en seis meses o al cierre de un financiamiento calificado de $1 millón, resultando en un reembolso total de $562,500.
Como parte del acuerdo, Limitless X emitirá 225,000 acciones comunes restringidas y 10,000 acciones preferentes perpetuas de Clase D a Mathur. Los fondos se destinarán a capital de trabajo y gastos operativos, incluyendo la adquisición de inventario, iniciativas de marketing, compensación de empleados y honorarios legales y contables.
Limitless X Holdings (OTCQB: LIMX)는 운영 이니셔티브 및 성장을 지원하기 위해 회장 겸 CEO인 Jas Mathur로부터 $500,000의 전략적 자금 조달을 확보했습니다. 이 대출은 12.5%의 이자율을 특징으로 하며, 6개월 후 또는 $1백만의 자격 있는 자금 조달이 완료될 때 만기가 되어 총 상환액은 $562,500이 됩니다.
계약의 일환으로, Limitless X는 Mathur에게 225,000주의 제한된 보통주와 10,000주의 클래스 D 영구 우선주를 발행할 것입니다. 자금은 재고 조달, 마케팅 이니셔티브, 직원 보상 및 법률 및 회계 수수료를 포함한 운영 비용과 운전 자본에 배분될 것입니다.
Limitless X Holdings (OTCQB: LIMX) a obtenu un financement stratégique de 500 000 $ de son président et PDG, Jas Mathur, pour soutenir des initiatives opérationnelles et la croissance. Le prêt présente un taux d'intérêt de 12,5%, arrivant à échéance dans six mois ou lors de la clôture d'un financement qualifié de 1 million de dollars, entraînant un remboursement total de 562 500 $.
Dans le cadre de l'accord, Limitless X émettra 225 000 actions ordinaires restreintes et 10 000 actions privilégiées perpétuelles de Classe D à Mathur. Les fonds seront alloués au fonds de roulement et aux frais opérationnels, y compris l'acquisition de stocks, les initiatives de marketing, la rémunération des employés et les frais juridiques et comptables.
Limitless X Holdings (OTCQB: LIMX) hat eine strategische Finanzierung in Höhe von $500.000 von seinem Vorsitzenden und CEO, Jas Mathur, gesichert, um betriebliche Initiativen und Wachstum zu unterstützen. Der Kredit hat einen Zinssatz von 12,5% und läuft in sechs Monaten oder bei Abschluss einer qualifizierten Finanzierung von $1 Million aus, was zu einer Gesamtrückzahlung von $562.500 führt.
Im Rahmen der Vereinbarung wird Limitless X 225.000 eingeschränkte Stammaktien und 10.000 Klasse D ewige Vorzugsaktien an Mathur ausgeben. Die Mittel werden für Betriebskapital und Betriebskosten verwendet, einschließlich der Beschaffung von Inventar, Marketinginitiativen, Mitarbeitervergütung sowie Rechts- und Buchhaltungsgebühren.
- CEO demonstrates confidence in company through personal $500,000 investment
- Immediate access to working capital for operations and growth initiatives
- Financing secured without traditional banking constraints
- High 12.5% interest rate indicates expensive financing terms
- Significant equity dilution through issuance of both common and preferred shares
- Short 6-month maturity period creates near-term repayment pressure
- Reliance on CEO funding suggests possible difficulties in securing external financing
Los Angeles, CA, March 24, 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 today announced that it has secured
Under the terms of the agreement, the loan will mature in six months or upon the closing of a
“This financing underscores my personal commitment to Limitless X and our mission to drive innovation in the health and wellness industry,” said Jaspreet Mathur, Chairman and CEO of Limitless X. “By ensuring the company has the necessary capital to meet its obligations and execute on strategic initiatives, we continue to position Limitless X for long-term success and value creation for our shareholders.”
The proceeds from the financing will be allocated towards general working capital and operational expenses, including inventory procurement, marketing initiatives, employee and contractor compensation, as well as legal and accounting fees.
Limitless X remains committed to expanding its portfolio of Look Good, Feel Great products, films, digital platforms, blockchain initiatives, and real estate ventures. This strategic capital infusion will supply the essential resources to sustain operations while driving an ambitious growth strategy.
For further information, please visit www.limitlessx.com.
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 digital assets space by leveraging blockchain-based equity instruments to provide innovative solutions that help investors 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" and “Satisfied”. 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
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800-736-2030
FAQ
What are the terms of LIMX's $500,000 strategic financing announced in March 2024?
How will LIMX use the $500,000 strategic financing proceeds?
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What equity compensation is LIMX providing for the $500,000 strategic financing?
