Limitless X Clears 14M Preferred Shares, Creates 20M Class F for $1.25 Reg A Units
LIMX sits 98% above its 52-week low of $0.126 on light trading volume (0.3× avg).
Summary
Limitless X cut 14,000,000 designated Class B and Class C preferred shares and created 20,000,000 Class F preferred shares to be sold in a Reg A offering of up to 20,000,000 Units at $1.25 each, potentially raising $25,000,000 and adding up to 20,000,000 common shares on conversion. The 8-K also first discloses director Michael Braun's June 30, 2026 resignation, with the board seat still vacant.
Key Events · Financing and Capital Events · LIMX
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Preferred Designations Cut by 14M Shares
Class B Convertible Preferred was reduced from 11,000,000 to 1,500,000 shares and Class C from 5,000,000 to 500,000 shares, returning 14,000,000 shares to authorized-but-undesignated status. No outstanding shares were cancelled or converted.
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20M Class F Preferred Created for Reg A
The new Class F Convertible Preferred carries a $1.25 stated value and liquidation preference, converts one-for-one into common stock, pays no dividends and has no voting rights except as required by law.
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Up to $25M Gross If All Units Sold
The Reg A offering covers up to 20,000,000 Units at $1.25 per Unit; 20,000,000 x $1.25 = $25,000,000 gross, with up to 20,000,000 common shares issuable on conversion. The $1.25 Unit price is well above today's $0.249 quote.
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Conversion Blockers and Forced-Conversion Triggers
A 19.99% beneficial ownership limitation caps conversion, and the company may force conversion on a change of control, five consecutive closes at or above $2.50, or a national exchange listing. Class F ranks junior to Class A, B, C and Series D preferred.
Analysis · LIMX · Trade & Services
Limitless X is restructuring its preferred stack to make room for a Reg A raise. It eliminated 14,000,000 designated but unissued Class B and Class C preferred shares and created 20,000,000 Class F preferred shares to be sold inside Units at $1.25 each. If all 20,000,000 Units are sold, gross proceeds would be 20,000,000 x $1.25 = $25,000,000, and because each Class F share converts one-for-one into common stock, that is up to 20,000,000 potential new common shares. Against a $0.249 stock price, the $1.25 Unit price is roughly five times today's market price, so the offering only works if buyers accept a large premium to the current quote. The company is doing this against a going-concern warning and an 86% revenue collapse disclosed in the August 10-Q, so the raise is survival capital rather than growth capital. The filing also reveals, for the first time, that director Michael Braun resigned effective June 30, 2026 and the seat remains unfilled — a governance gap disclosed roughly four months late.
How filings like this one have moved
In the 30 days to Oct 23, 2026, 29.6% of the 1590 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.25%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LIMX was trading at $0.25 on OTC in the Trade & Services sector, with a market capitalization of approximately $4.6M. The 52-week trading range was $0.13 to $4.37. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.