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Limitless X Holdings Inc. Chairman & CEO Jas Mathur Converts Over $6.5 Million in Personal Debt to Class D Preferred Stock, Reinforcing Long-Term Commitment to the Company’s Growth

Written by Customer Service on . Posted in Public Companies.

Los Angeles, CA, April 17, 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 its Chairman and Chief Executive Officer, Jas Mathur, has voluntarily converted over $6.5 million in outstanding debt owed to him and affiliated entities into equity, signaling a bold vote of confidence in the Company’s long-term vision and trajectory.

This strategic debt-to-equity conversion eliminates legacy liabilities while enhancing the Company’s balance sheet in preparation for its upcoming Regulation A+ Tier 2 offering and uplisting efforts.

The conversion encompasses the following:

  • Jaspreet Mathur converted a total of $6,089,589 into 243,583 shares of the Company’s newly designated Preferred Class D Stock, at a fixed rate of $25 per share.
  • EM1 Capital LLC, an affiliated entity, converted $262,600 into 10,504 shares of Preferred Class D Stock.
  • Emblaze One Inc., also affiliated, converted $153,179 into 6,127 shares of Preferred Class D Stock.

Each of these conversions was executed under separate Debt Conversion Agreements dated April 14, 2025, which collectively extinguish all financial obligations under previously outstanding promissory notes, inclusive of principal and accrued interest.

The Class D Preferred Stock includes dividend rights and will not be immediately tradeable, reflecting Mr. Mathur’s commitment to long-term value creation over short-term liquidity. These shares are restricted securities and were issued pursuant to exemptions under applicable federal and state securities laws.

“My decision to convert this debt reflects my unwavering belief in the future of Limitless X and our expanding footprint across high-growth verticals. This is more than a financial restructuring—this is a personal commitment to building a company of enduring value,” said Jas Mathur, Chairman and CEO.

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.

For media inquiries, partnership opportunities, or additional information, please contact:

Media Contact
media@limitlessx.com
Investor Relations Contact
investors@limitlessx.com
800-736-2030

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