Form 4: Limitless X Holdings CEO Converts Debt to Preferred Stock

Jaspreet Mathur, CEO of Limitless X Holdings, converts debt into Series D Preferred Stock, along with EM1 Capital LLC and Emblaze One, Inc.

Summary

• Jaspreet Mathur, CEO of Limitless X Holdings, filed a Form 4 detailing changes in beneficial ownership.
• On April 14, 2025, Mathur converted $6,089,589 owed to him by Limitless X Holdings into 243,583 shares of Series D Preferred Stock at $25 per share.
• EM1 Capital LLC, where Mathur is the Managing Member, converted $262,600 into 10,504 shares of Series D Preferred Stock at $25 per share.
• Emblaze One, Inc., where Mathur is the CEO, converted $153,179 into 6,127 shares of Series D Preferred Stock at $25 per share.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing debt conversions, which is neither inherently positive nor negative. The sentiment is neutral.

Industry Context

Debt conversions into preferred stock are a common mechanism for companies to manage their liabilities and raise capital, particularly for smaller or growth-stage companies.

Related Party Transactions

• The debt conversions involving Jaspreet Mathur, EM1 Capital LLC (where Mathur is the Managing Member), and Emblaze One, Inc. (where Mathur is the CEO) are related party transactions.

Stakeholder Impact

• The debt conversion may dilute existing shareholders' equity.
• Converting debt to equity improves the company's balance sheet by reducing liabilities.

Key Dates

Keywords

Series D Preferred Stock, Debt Conversion, Beneficial Ownership, Limitless X Holdings, Jaspreet Mathur, Form 4