Item 2.03 Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
On June 1, 2022, BioLab Naturals, Inc.a Delaware company (“we” or the “Company”) has received interim financing from Jaspreet MathurChairman and Chief Executive Officer of the Company, up to 0,000. This financing is treated as an advance for which the final reimbursement conditions have yet to be formalized. With the addition of this $500,000 advance, the total amount Mr Mathur provided the Company $2,800,000with dates and amounts as follows. May 18, 2022 $450,0008.5% interest, May 16, 2022 $1,100,0006% interest, May 8, 2022 550,000, 6% interest, February 11, 2022 $150,0006% interest and December 6, 2021 $50,000
6% interest. To date, no payment has been made. Mr Mathur. In addition, Mr Mathur also paid direct and extra $2,300,000 for marketing and miscellaneous corporate expenses, bringing the total funds provided by
Mr Mathur at $5,100,000. All amounts have been duly recorded in the books of the Company.
Item 8.01 Other Events.
On June 6, 2022with the unanimous consent of the board of directors and the main shareholders of the company, voted in favor of changing the name of the company from BioLab Naturals, Inc. at Limitless X Holdings Inc.
A copy of the Directors’ Resolution and the Shareholders’ Resolution is attached hereto as Exhibits 99.1 and 99.2.
Item 9.01 Financial Statements and Exhibits
Exhibit No. Description
99.1 Director's Consent Resolution
99.2 Shareholders Consent Resolution
104 Cover Page Interactive Data File (formatted as an Inline XBRL document)
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