Limitless X Holdings Issues Preferred Stock to CEO to Settle $50K Bonus Obligation
LIMX has more than doubled off its 52-week low of $0.15.
Summary
Limitless X Holdings Inc. is issuing 550,000 shares of Class B Preferred Stock, valued at $50,000, to CEO Jaspreet Mathur to settle outstanding bonus and incentive compensation.
Key Events · Financing and Capital Events · LIMX
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Equity Settlement for CEO Compensation
The company will issue 550,000 shares of Class B Convertible Preferred Stock to CEO Jaspreet Mathur to settle a $50,000 bonus and incentive compensation obligation for past performance.
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Terms of Class B Preferred Stock
Each Class B share has a $3.00 liquidation preference and is convertible into 0.067 shares of common stock, subject to beneficial ownership caps. The shares are restricted securities.
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Cash Conservation
This equity issuance allows the company to settle a financial obligation without expending cash, which is beneficial for liquidity.
Analysis · LIMX · Trade & Services
Limitless X Holdings Inc. entered into a binding Memorandum of Understanding with its CEO and Chairman, Jaspreet Mathur, to settle a $50,000 bonus and incentive stock compensation obligation. The company will issue 550,000 shares of Class B Convertible Preferred Stock, valued at approximately $50,000, to Mathur. This issuance resolves a prior financial commitment using equity, conserving cash for the company. While dilutive, it addresses an existing obligation and provides compensation to a key executive for past performance.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 28.9% of the 1666 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. 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 $1.20 on OTC in the Trade & Services sector, with a market capitalization of approximately $20.3M. The 52-week trading range was $0.15 to $4.37. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.