Bio Lab Naturals (OTCMKTS:BLAB) on May 23, 2022, announced that the firm and its shareholders of Limitless X, a creative and empowering lifestyle agency, have finished the share exchange agreement leading to Limitless X becoming a wholly-owned and principal operating subsidiary.
On Monday, BLAB stock ended flat at $1.08 with 25 shares, compared to its average volume of 1.14K shares. The stock moved within a range of $1.0800 – 1.0800 after opening trade at $1.30.
Limitless X Goes Public, Completes Previously Announced Share Exchange With Bio Lab Naturals, Inc
Limitless X, a Nevada corporation formed in September 2021, is engaged in numerous industry-leading products in the dietary and CBD supplement sectors. Bio Lab Natural has issued to shareowners of Limitless X common stock about 90% of the firm on a fully diluted basis for all shares of Limitless X.
Jas Mathur, the founder, and principal shareholder of Limitless X, also bought from Helion Holdings LLC 500,000 shares of its Class A Preferred Super Majority Voting Convertible Stock. Limitless X aims to alter the name and will be opting for a ticker symbol change in the coming weeks.
Limitless X will continue to carry Bio Lab Naturals’ business and core operations, providing clients with high-resolution mobile LED screens for corporate, entertainment, civic as well as sporting events.
Jas Mathur, CEO of Limitless X said that the day marks a milestone for the firm. Mathur added that the company’s mission is to launch services and products making people look and feel good. The CEO added that the firm is aiming to augment exposure and visibility within capital markets and expand brand recognition to a larger investor audience.
“Today marks an important milestone for Limitless X,” said Jas Mathur, CEO of Limitless X, “Our mission is to launch products and services which make people look good and feel great. Operating as a public company, we are now able to increase our visibility and exposure within the capital markets, expand our brand recognition and provide our market opportunity to a wider investor audience. I look forward to this next step, of entering the public markets and turning Limitless X into a rapidly growing successful enterprise and a globally recognized household brand.”
BLAB stock is trading below the 20-Day and 50-Day Moving averages of $1.22 and $1.09 respectively. Moreover, the stock is trading in the oversold zone with RSI standing at 51.