Company provides revenue guidance in the range of $40 million and pre-tax income exceeding $10 million for fiscal year 2022
Los Angeles, CA – June 27, 2022 – Limitless X Inc. (OTCQB: BLAB) (“the Company”), a creative and empowering lifestyle agency, today announced that it anticipates strong preliminary sales and earnings in the current fiscal year 2022. Limitless X recently acquired public company Bio Lab Naturals, bringing together a strong management team within the health and wellness industry. The new management will be led by Chairman and Chief Executive Officer, Jas Mathur, a successful entrepreneur, investor, and venture capitalist. Mr. Mathur has strong expertise is in ecommerce and product development and has created multiple brands in the marketing, health and wellness spaces generating hundreds of millions of dollars in revenue each year. Mr. Mathur has invested approximately $5.1 million into Limitless X and has converted the loan into preferred stock to remove debt from the Company, leaving the Company with zero debt on its balance sheet. Additionally Mr. Mathur will be taking a nominal cash salary for his duties as Chairman and CEO of the Company.
As part of the Company’s growth strategy, Limitless plans to generate organic growth while also seeking to target industry relevant companies for acquisitions to further expand its product line and operational footprint domestically and eventually internationally.
Limitless X’s Chief Financial Officer, Benjamin Chung, with significant public company experience and formerly a partner at BDO and with prior experience at PwC and Ernst & Young, has reported that the Company anticipates net revenues in the range of $40 million for fiscal year 2022 with a strong product gross profits. The Company maintains a positive outlook for future and continued earnings.
About Jas Mathur
Jas Mathur is an investor and entrepreneur who has developed multiple brands in the marketing, health and wellness spaces generating tens to hundreds of millions of dollars in revenue each year. The digital marketing and branding firm he founded, Limitless, has launched numerous industry-leading products in the dietary and CBD supplement sectors. He is a trendsetter with more than 7 million Instagram followers and frequently collaborates with leaders in the sports and entertainment industries.
Jas’ passion is helping accelerate the achievement of people’s health, wellness and business goals, inspired by his personal transformation story of losing over 250lbs in his twenties. Now a sought-after expert in developing fitness and training programs, he’s helped many high-profile figures embark on their own health journeys and seeks to do the same for today’s youth. Suitably, he recently partnered with Dr. Oz’s nonprofit, Healthcorps, to jumpstart health and wellness programs targeted at teens and young adults.
As Jas transformed his life and body, he applied his newfound passion for health and wellness to launch Limitless. Prospective services he is blueprinting for the company include personality development, life coaching and educational platforms, in addition to the brand portfolio.
About Limitless X
Limitless X is a creative and empowering lifestyle agency specializing in the full spectrum of digital advertising and marketing. The Company has global eco-system with three verticals and a series of unique product and service-oriented businesses within each, focused on the Health & Wellness, Beauty & Skincare, and CBD Industry.
Investor Relations Contact:
SOURCE: Limitless X, INC.