Limitless X anticipates strong – GuruFocus.com
The company provides net revenue forecasts of around $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 for the current financial year 2022. Limitless X recently acquired public company Bio Lab Naturals, bringing together a strong leadership team within the health and wellness industry. The new management will be led by the President and CEO, Jas Mathur, a successful entrepreneur, investor and venture capitalist. Mr. Mathur has strong expertise in e-commerce and product development and has created several brands in marketing, health and wellness, generating hundreds of millions of dollars in revenue each year. Mr. Mathur has invested approximately $5.1 million into Limitless X and converted the loan into preferred stock to eliminate the company’s debt, leaving the company debt-free on its balance sheet. In addition, Mr. Mathur will receive a nominal cash salary for serving as President and Chief Executive Officer of the Company.
As part of the company’s growth strategy, Limitless plans to generate organic growth while seeking to target relevant companies for acquisitions to further expand its product line and operational footprint domestically and eventually internationally.
CFO of Limitless X, Benjamin Chungwith significant experience in public companies and a former partner at BDO and with prior experience at PwC and Ernst & Young, said the company expects net revenues in the range of $40 million for fiscal 2022 with a strong gross margin on products. The Company maintains a positive outlook for future and ongoing earnings.
About Jas Mathur
Jas Mathuris an investor and entrepreneur who has built multiple brands in marketing, health and wellness, generating tens to hundreds of millions of dollars in revenue each year. The digital marketing and branding company he founded, Unlimited, has launched many industry-leading products in the dietary supplement and CBD sectors. He is a trailblazer with over 7 million Instagram followers and frequently collaborates with leaders in the sports and entertainment industries.
Jas’ passion is to help accelerate people’s health, wellness, and business goals, inspired by his personal transformation story of losing over 250 pounds in his twenties. Now a sought-after expert in the development of fitness and training programs, he has helped many high profile personalities embark on their own health journeys and seeks to do the same for today’s youth. Fittingly, he recently partnered with Dr. Oz’s nonprofit, Healthcorps, to launch health and wellness programs for teens and young adults.
As Jas transformed his life and his body, he applied his newfound passion for health and wellness to launch Limitless. The potential services he is building for the company include personality development, life coaching, and educational platforms, in addition to the brand portfolio.
About Unlimited X
Limitless X is a creative and inspirational lifestyle agency specializing in the full spectrum of digital advertising and marketing. The company has a global ecosystem with three verticals and a series of unique product and service-focused businesses within each, focused on the health and wellness, beauty and personal care industry. skin and CBD.
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SOURCE Unlimited X