Limitless X Holdings Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Limitless X Holdings Inc. has filed its 2023 10-K report, detailing its operations and financial standing for the fiscal year ending December 31, 2023.</b>

AI Summary

Limitless X Holdings Inc. (LIMX) filed a Annual Report (10-K) with the SEC on April 18, 2024. Limitless X Holdings Inc. filed its 2023 Form 10-K on April 18, 2024. The company was formerly known as BIO LAB NATURALS, INC. and changed its name on February 19, 2020. The filing covers the fiscal year ending December 31, 2023. The company's business address is 9454 Wilshire Blvd., #300, Beverly Hills, CA 90212. The Standard Industrial Classification code is 7990 (Services-Miscellaneous Amusement & Recreation).

Why It Matters

For investors and stakeholders tracking Limitless X Holdings Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Limitless X Holdings Inc.'s financial performance, business operations, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's current health and future prospects. The filing includes historical financial data and details on stock classes, offering insights into the company's capital structure and any changes or issuances during the reporting period.

Risk Assessment

Risk Level: low — Limitless X Holdings Inc. shows low risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine disclosures and does not indicate any immediate or significant negative developments.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Limitless X Holdings Inc.'s performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-18 — Filing Date (Date of submission)
• 7990 — SIC Code (Industry classification)
• DE — State of Incorporation (Legal domicile)

Key Players & Entities

• Limitless X Holdings Inc. (company) — Filer name
• BIO LAB NATURALS, INC. (company) — Former company name
• 2024-04-18 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 9454 WILSHIRE BLVD. #300 (address) — Business address
• BEVERLY HILLS (location) — Business address city
• CA (location) — Business address state
• 7990 (sic_code) — Standard Industrial Classification

FAQ

Industry Context

The company operates within the Services-Miscellaneous Amusement & Recreation sector, indicated by its SIC code 7990.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key metrics.
2. Examine the risk factors section for potential business and financial challenges.
3. Review the company's business description and strategy for future growth.

Key Dates

• 2024-04-18: 10-K Filing — Annual report submission for fiscal year 2023
• 2023-12-31: Fiscal Year End — End date of the reporting period
• 2020-02-19: Name Change — Date Limitless X Holdings Inc. adopted its current name

Year-Over-Year Comparison

This is the initial 10-K filing for Limitless X Holdings Inc. under its current name, following a previous name change from BIO LAB NATURALS, INC.

Key Financial Figures

• $2.90 — 2023 based on the closing bid price of $2.90 for shares of the registrant's common s
• $0 — 7,497 shares of common stock, par value $0.0001, as of March 29, 2024. Documents
• $8,946 billion — lness market size is projected to reach $8,946 billion by the end of 2030, with a compound ann
• $5,244 billion — 22, the market size was estimated to be $5,244 billion. Intellectual Property Currently, w

Filing Documents

• form10-k.htm (10-K) — 1559KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 5KB
• 0001493152-24-015181.txt (&nbsp;) — 6152KB
• vybe-20231231.xsd (EX-101.SCH) — 53KB
• vybe-20231231_cal.xml (EX-101.CAL) — 59KB
• vybe-20231231_def.xml (EX-101.DEF) — 256KB
• vybe-20231231_lab.xml (EX-101.LAB) — 338KB
• vybe-20231231_pre.xml (EX-101.PRE) — 320KB
• form10-k_htm.xml (XML) — 712KB

Risk Factors

Item 1A.Risk Factors 8

Unresolved Staff Comments

Item 1B.Unresolved Staff Comments 26

Cybersecurity

Item 1C.Cybersecurity 26

Properties

Item 2.Properties 28

Legal Proceedings

Item 3.Legal Proceedings 28

Mine Safety Disclosures

Item 4.Mine Safety Disclosures 28 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 35

Financial Statements and Supplementary Data

Item 8.Financial Statements and Supplementary Data 35

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 36

Controls and Procedures

Item 9A.Controls and Procedures 36

Other Information

Item 9B.Other Information 36

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 36 PART III

Directors, Executive Officers and Corporate Governance

Item 10.Directors, Executive Officers and Corporate Governance 37

Executive Compensation

Item 11.Executive Compensation. 41

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 45

Certain Relationships and Related Transactions, and Director Independence

Item 13.Certain Relationships and Related Transactions, and Director Independence. 46

Principal Accounting Fees and Services

Item 14.Principal Accounting Fees and Services. 51 PART IV

Exhibits, Financial Statement Schedules

Item 15.Exhibits, Financial Statement Schedules. 52 Exhibit Index 51

Signatures

Signatures 53 Index to Consolidated Financial Statements F-1 2 LIMITLESS X HOLDINGS, INC. CAUTIONARY This Annual Report on Form 10-K ("Annual Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical fact included in this Annual Report are forward-looking statements. These forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future construction, revenues, income, cost of sales, expenses, and capital spending. Our forward-looking statements are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "intend," "anticipate," "potential," "plan," "goal," "foresee," "likely," "target," "may," "should," "could," or other words that convey the uncertainty of future events or outcomes. The Company will continue to file annual, quarterly and current reports, proxy statements and other information with the Securities and Exchange Commission (the "SEC"). The forward-looking statements in this Annual Report speak only as of the date of this document, and we disclaim any obligation to update these statements unless required by law, and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond our control. These forward-looking statements reflect our management's beliefs and views with respect to future events and are

forward-looking statements by these cautionary statements

forward-looking statements by these cautionary statements. The forward-looking statements made in this Annual Report relate only to events as of the date on which such statements are made. We undertake no obligation to update any forward-looking statements after the date of this Annual Report or to conform such statements to actual results or revised expectations, except as required by law. 3 PART I Throughout this Annual Report, references to the "Company," "VYBE," "we," "us," and "our" refer to Limitless X Holdings, Inc. and its subsidiaries, unless the context requires otherwise. ITEM 1. BUSINESS. Company Overview Limitless X is a multinational consumer packaged goods company that specializes in developing and offering Look Good, Feel Great' products, specifically within the nutrition and beauty industry, through direct response advertising and our distinctive and highly successful celebrity-backed brand awareness strategies. We possess unique capabilities to greatly enhance the reputation and impact of brands, due to our extensive knowledge and expertise in digital marketing and our successful track record in launching new consumer products. Leadership Jas Mathur, our Chairman and Chief Executive Officer, is an entrepreneur with over 14 years of experience within the health, wellness, and dietary supplements industry and 25 years of experience as a webmaster and internet marketer. He is the owner of Emblaze One, a global interactive and web development agency with a staff of 100+. Mr. Mathur founded Limitless X in 2021, drawing upon his own personal battles with health and his transformative journey that resulted in a remarkable weight loss of over 250 lbs. His extraordinary achievements in the business world serve as a powerful source of motivation, inspiration, and empowerment for all those who cross paths with him, igniting their dreams, fostering belief, and empowering them to achieve greatness. Our Services Leveraging our top-notch bus

Properties

Properties We own no property. Corporate History and Background The Company was formed in the State of Nevada on June 3, 1996, as Vyta Corp. On November 5, 2010, the Company changed its name to Bio Lab Naturals, Inc. On May 11, 2022, Bio Lab Naturals, Inc., a Delaware corporation ("Bio Lab"), entered into a Share Exchange Agreement (the "Share Exchange Agreement") with Limitless X, Inc., a Nevada corporation ("LimitlessX"), and its 11 shareholders (the "LimitlessX Acquisition"). The parties completed and closed the LimitlessX Acquisition on May 20, 2022. Concurrently with the LimitlessX Acquisition, Jaspreet Mathur, the founder and principal shareholder of LimitlessX, also purchased from Helion Holdings LLC, shares of Bio Lab's Class A Preferred Convertible Stock, which at all times have a number of votes equal to 60% of all of the issued and outstanding shares of common stock of Bio Lab. On June 10, 2022, the Company changed its name to Limitless X Holdings Inc. Subsidiaries We have 2 subsidiaries, Limitless X, Inc, a Nevada corporation and Prime Time Live, Inc., a Colorado corporation. Corporate Information We are a Delaware corporation. Our corporate headquarters are located at 9454 Wilshire Blvd., #300, Beverly Hills, CA 90212. Our telephone number is (833) 888-8923. We maintain a website at www. https://www.limitlessx.com/. Reports to Security Holders We provide an annual report that includes audited financial information to our shareholders. We will make our financial information equally available to any interested parties or investors through compliance with the disclosure rules for a small business issuer under the Exchange Act. We are subject to disclosure filing requirements including filing Form 10-K annually and Form 10-Q quarterly. In addition, we will file Form 8-K and other proxy and information statements from time to time as required. We do not intend to voluntarily file the above reports in the event that our obligation to file su

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View this 10-K filing on SEC EDGAR