{"url_path":"/sec/limx/10-q/2026/item-5","section_key":"item-5","section_title":"Item 5 OTHER INFORMATION**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-06-26","source_url":"https://www.sec.gov/Archives/edgar/data/1803977/0001493152-26-030357-index.html","accession_number":"0001493152-26-030357","cik":"0001803977","ticker":"LIMX","issuer_name":"Limitless X Holdings Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1803977/0001493152-26-030357-index.html","primary_entity_key":"0001803977","primary_entity_name":"Limitless X Holdings Inc."},"word_count":424,"has_tables":true,"body_markdown":"**ITEM\n5. OTHER INFORMATION**\n\n \n\nDuring the quarter ended March 31, 2026, the Company\ndid not file a Current Report on Form 8-K reporting the promissory notes and acquisition transactions described below. The Company is\nproviding the following disclosure pursuant to Part II, Item 5(a) of Form 10-Q.\n\n \n\nEffective January 1, 2026, the Company issued an unsecured\npromissory note to Jaspreet Mathur, the Company’s Chief Executive Officer, in the principal amount of $137,500 . Effective January\n1, 2026, Limitless Entertainment Group Inc., a consolidated subsidiary of the Company “LIMX Entertainment”), issued an unsecured\npromissory note to Mr. Mathur in the principal amount of $120,000. Each note is payable on demand and, in any event, on or before the\n36-month anniversary of its effective date. The notes have a stated interest rate of 0% per annum before default. The notes are governed\nby Delaware law and are attached as Exhibits 10.4 and 10.5, respectively\n\n \n\nEffective January 1, 2026, the Company acquired the\nremaining 80% ownership interest in each of LIMX Entertainment and Limitless Films, Inc. from EM1 Capital, LLC, an entity wholly owned\nby Jaspreet Mathur, for $1.00 and other good and valuable consideration pursuant to the attached Transfer of Stock Agreements, attached\nas Exhibits 10.6 and 10.7. Following completion of the transaction, the Company owns 100% of the outstanding equity interests of LIMX\nEntertainment and LIMX Films. and consolidates their financial position, results of operations and cash flows. Because EM1 Capital, LLC\nis controlled by Mr. Mathur, the Company’s Chief Executive Officer and greater than 10% shareholder, the transaction was treated\nas a transfer of equity interests between entities under common control and accounted for under ASC 805-50. The assets and liabilities\nacquired were recognized at their historical carrying values, and the difference between the consideration transferred and the historical\ncarrying value of the net assets acquired was recorded as an adjustment to additional paid-in capital. As a result of the transaction,\nthe Company recorded a reduction of $281,063 of additional paid-in capital, which represented accumulated deficits of Limitless Entertainment\nGroup, Inc. and Limitless Films, Inc. during the three months ended March 31, 2026.\n\n \n\n**Rule\n10b-5 Trading Plans**\n\n \n\nOur\ndirectors and executive officers may from time to time enter into plans or other arrangements for the purchase or sale of our common\nstock that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or may represent a non-Rule 10b5-1 trading arrangement\nunder the Exchange Act. During the three months ended March 31, 2026, no such plans or other arrangements were adopted or terminated."}