Limitless X Holdings Inc.

Going-concern micro-cap with negligible revenue, enormous losses and a near-empty balance sheet.

Strengths

• Gross margin 75% (84th pct) on the supplement line
• No reported difficulty rolling over loans to date

Risks

• Net loss $46.6M on $0.95M revenue (net margin -49x); $84.9M accumulated deficit and an explicit going-concern paragraph
• Current ratio 0.04 and quick ratio 0.007 (10th pct); penny stock controlled by a CEO who also owns the brands sold

Notable findings

• Going concernThese factors raise substantial doubt as to our ability to continue as a going concern, and our independent registered public accounting firm has included a going concern uncertainty explanatory parag
• Exec changeRecent 8-K item 5.02 8-K ↗
• Net lossNet loss (net margin -4872.1%)
• Weak liquidityCurrent ratio 0.04 (<1)
• Chronic dilutionShare count +17%/yr over 2y (dilution)
• Customer concentration~79% of revenue from one customer/distributor — 0 % (872,298 ) -78
• Revenue declineRevenue -46.2% YoY