Limitless X Anticipates Strong Sales and Earnings Company provides net revenue guidance in the range of $40 million for fiscal year 2022
LOS ANGELES, June 27, 2022 /PRNewswire/ -- 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.
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