$LIMX

Limitless X Holdings Inc.

CIK:0001803977|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net Revenue
Total net revenue	$ 42,206	$ 302,592	$ 119,776	$ 554,528
Cost of Revenue
Cost of revenue	12,046	86,840	13,937	204,034
Total cost of sales	12,046	86,840	13,937	204,034
Gross profit	30,160	215,752	105,839	350,494
Operating expenses:
General and administrative	443,585	325,395	825,354	3,917,196
Advertising and marketing	36,685	76,287	81,063	267,421
Salaries and compensation	2,398,039	591,369	3,200,941	1,175,220
Total operating expenses	2,878,309	993,051	4,107,358	5,359,837
Loss from operations	(2,848,149)	(777,299)	(4,001,519)	(5,009,343)
Other income (expense)
Interest expense	(36,469)	(18,318)	(156,058)	(481,715)
Other income (expense)		58,460	215,157	60,888
Loss on conversion of Preferred C to Preferred D			(27,812,576)
Gain (Loss) on debt settlement		(3,866,368)		(33,792,768)
Total other income (expense), net	(36,469)	(3,826,226)	(27,753,477)	(34,213,595)
Loss before income tax provision	(2,884,618)	(4,603,525)	(31,754,996)	(39,222,938)
Income tax provision
Net loss	(2,884,618)	(4,603,525)	(31,754,996)	(39,222,938)
Dividends accrued during the period		204,555		204,555
Net loss allocable to common shareholders	$ (2,884,618)	$ (4,808,080)	$ (31,754,996)	$ (39,427,493)
Net loss per common share - basic	$ (0.16)	$ (0.32)	$ (1.74)	$ (2.81)
Net loss per common share - diluted	$ (0.16)	$ (0.32)	$ (1.74)	$ (2.81)
Weighted average number of common shares - basic	18,506,957	15,124,568	18,219,094	14,021,453
Weighted average number of common shares - diluted	18,506,957	15,124,568	18,219,094	14,021,453
Product [Member]
Net Revenue
Total net revenue	$ 42,206	$ 302,592	$ 119,776	$ 554,528

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (31,754,996)	$ (39,222,938)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	2,580	160
Amortization of debt discount	73,415	427,750
Salaries conversion to common stock
Gain (Loss) on debt settlement		33,792,768
Loss from conversion of Preferred C to Preferred D	27,812,576
Stock compensation expense by issuance of Preferred C		1,537,500
Issuances of common stock to board of directors for services - conversion from accrued compensation
Issuances of common stock to board of directors for services	240,000	220,000
Consulting services - issuance of common stock		539,701
Restricted stock grants		430,166
Stock option expense		365,641
Stock compensation for consulting services - Issuances of Preferred Stock B	1,375,000
Stock compensation for consulting services - common stock issuable	785,941	20,070
Retained earnings contribution	(281,063)
Lease accretion	7,401
Changes in assets and liabilities:
Accounts receivables, net		24,878
Inventories	5,788	(75,556)
Prepaid expenses	10,708	(51,618)
Other assets	(167,283)	223
Accounts payable and accrued expenses	884,534	1,078,268
Royalty payable		28,501
Refunds and chargeback payable	(2,144)	(39,988)
Net cash used in operating activities	(1,007,543)	(924,474)
Cash flows from investing activities:
Purchases of property and equipment	(89,053)
Loan provided under loan receivable	(400,000)	(1,000,000)
Net cash used in investing activities	(489,053)	(1,000,000)
Cash flows from financing activities:
Repayments from convertible debt	(75,408)
Proceeds from borrowings from stockholder	257,500	500,000
Proceeds from borrowings from related parties	916,000	1,379,000
Advance deposit from investor for future equity purchase	400,000
Proceeds from (repayment of) borrowings from loans payable	(928)	77,100
Net cash provided by financing activities	1,497,164	1,956,100
Net increase(decrease) in cash	568	31,626
Cash – beginning of period	7,169	53,549
Cash – end of period	7,737	85,175
Supplemental disclosures of cash flow information
Interest
Income taxes
Non-cash investing and financing activities:
Conversion of accrued salaries to common stock		536,251
Conversion of board of directors accrued compensation to common stock		972,500
Conversion of vendor accounts payable to preferred stock C		7,284,721
Shares issued from stock payable		83,555
Common Shares issued for debt inducement		177,750
Series D Preferred Shares issued for debt inducement		250,000
Dividends payable		204,555
Net assets acquired from common control acquisition	$ 281,063

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash	$ 7,737	$ 7,169
Inventories	134,766	140,554
Prepaid expenses and other current assets	13,440	24,148
Loan receivable	400,000
Total current assets	555,943	171,871
Non-Current Assets:
Property and equipment, net	87,133	660
Operating lease right-of-use asset	901,053
Other assets	178,268	10,985
Total non-current assets	1,166,454	11,645
Total assets	1,722,397	183,516
Current Liabilities:
Accounts payable and accrued expenses	4,073,278	3,309,385
Accrued interest	180,294	59,653
Refunds and chargeback payable	2,198	4,342
Convertible notes payable, net of debt discount of $51,019 and $124,434, respectively	548,573	550,566
Advance deposit from investor for future equity purchase	400,000
Loans payable	338,321	339,249
Current portion of operating lease liabilities	157,744
Total current liabilities	7,073,000	4,462,287
Operating lease liabilities, less current portion	750,710
Total liabilities	7,823,710	4,462,287
Commitments and contingencies
Stockholders’ deficit
Common Stock- $0.0001 par value; 300,000,000 authorized shares; 18,506,957 shares and 16,993,811 shares issued and outstanding, respectively	1,846	1,699
Common stock issuable, 1,880,167 shares and 2,502,382, respectively	2,246,607	4,661,734
Additional paid-in-capital	61,927,837	58,767,979
Accumulated deficit	(116,713,528)	(84,958,532)
Total stockholders’ deficit	(9,219,266)	(6,021,724)
Total liabilities and stockholders’ deficit	1,722,397	183,516
Preferred Class B [Member]
Current Liabilities:
Preferred Stock B - $0.0001 par value; 30,000,000 authorized shares; 1,081,356 and 531,356 shares issued and outstanding, respectively	3,117,953	1,742,953
Preferred Class A [Member]
Stockholders’ deficit
Preferred Stock, value	50	50
Preferred Class C [Member]
Stockholders’ deficit
Preferred Stock, value	1,578,431	5,374,996
Preferred Class D [Member]
Stockholders’ deficit
Preferred Stock, value	41,739,491	10,130,350
Nonrelated Party [Member]
Current Liabilities:
Notes payable	35,000	35,000
Majority Shareholder [Member]
Current Liabilities:
Notes payable	257,500
Related Party [Member]
Current Liabilities:
Notes payable	$ 1,080,092	$ 164,092