Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On June 1, 2022, Bio Lab Naturals, Inc., a Delaware corporation ("we" or the
"Company") received interim funding from Jaspreet Mathur, Chairman and CEO of
the Company, in the amount of $500,000. This funding is being treated as an
advance with final terms of repayment still to be formalized. With the addition
of this $500,000 advance, the total amount Mr. Mathur has provided the Company
is $2,800,000, with dates and amounts as follows. May 18, 2022 $450,000, 8.5%
interest, May 16, 2022 $1,100,000, 6% interest, May 8, 2022 550,000, 6%
interest, February 11, 2022 $150,000, 6% interest and December 6, 2021 $50,000
6% interest. To date no payments have been made to Mr. Mathur. Additionally, Mr.
Mathur has also paid directly and additional $2,300,000 for marketing and
various corporate expenses, bringing the aggregate total of funds provided by
Mr. Mathur to $5,100,000. All amounts have been duly recorded in the books of
Item 8.01 Other Events.
On June 6, 2022, by unanimous consent of the Board of Directors and major
shareholders of the corporation, have voted in favor to change the Company's
corporate name from Bio Lab Naturals, Inc. to Limitless X Holdings Inc.
A copy of the director's resolution and shareholders' resolution are 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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