Form 4: Limitless X Holdings CEO Jaspreet Mathur Increases Stake Through Share Issuance Related to Promissory Notes
Insider Transaction Report
Limitless X Holdings Inc. CEO Jaspreet Mathur increased direct beneficial ownership by 20,000 shares of common stock through issuances related to promissory notes.
Summary
- Jaspreet Mathur, Chief Executive Officer, Director, and 10% Owner of Limitless X Holdings Inc. (LIMX), acquired a total of 20,000 shares of common stock.
- An acquisition of 15,000 shares of common stock occurred on July 8, 2025, at a price of $0, reflecting an issuance approved by the Board in connection with a promissory note dated June 11, 2025, with the reporting person.
- An additional acquisition of 5,000 shares of common stock occurred on July 8, 2025, at a price of $0, reflecting an issuance approved by the Board in connection with a promissory note dated June 9, 2025, as amended, with the reporting person.
- Following these transactions, Jaspreet Mathur's direct beneficial ownership stands at 5,927,264 shares of common stock.
- Jaspreet Mathur also holds indirect beneficial ownership of 133,333 shares of common stock through a corporation.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive. While the shares were issued at $0, indicating a non-cash transaction likely related to debt conversion, an insider increasing their stake, even through such means, can be viewed as a sign of continued commitment to the company.
Future Outlook
NA
Industry Context
This filing is a standard disclosure of insider trading activity and does not provide broader industry context or trends.
Related Party Transactions
- The transactions involve the issuance of common stock to Jaspreet Mathur, who is the Chief Executive Officer, a Director, and a 10% Owner of Limitless X Holdings Inc., in connection with promissory notes between the company and the reporting person. This constitutes a related party transaction.
Stakeholder Impact
- Shareholders: The issuance of additional shares, even at a $0 price for debt conversion, can lead to minor dilution, though the amount is relatively small compared to the total outstanding shares. However, an insider increasing their stake may signal confidence.
- Creditors: The conversion of promissory notes into equity could reduce the company's debt obligations to the reporting person, potentially improving the balance sheet from a debt perspective.
Key Dates
| Date | Description |
|---|---|
| 06/09/2025 | Date of a promissory note, as amended, between Limitless X Holdings Inc. and Jaspreet Mathur, leading to a share issuance. |
| 06/11/2025 | Date of a promissory note between Limitless X Holdings Inc. and Jaspreet Mathur, leading to a share issuance. |
| 07/08/2025 | Date of the reported transactions where Jaspreet Mathur acquired common stock. |
| 07/09/2025 | Date the Form 4 was signed by Jaspreet Mathur. |
Keywords
Limitless X Holdings Inc., LIMX, Jaspreet Mathur, SEC Form 4, Insider Trading, Beneficial Ownership, Common Stock, Share Issuance, Promissory Note, CEO, Director, 10% Owner
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