LLPS 10-K & 10-Q changes, risk factors and insider trading
Limitless Projects Inc. · OTC · Services-Business Services, Nec · CIK 1842167 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Risk Factors
Not available: the section could not be located automatically in both filings (non-standard layout or incorporated by reference). See the original filing. Open the filing on SEC.gov.
Management's Discussion & Analysis (MD&A)
Largest changes
We have not generated positive cash flows from operating activities. For the fiscal year ended July 31,see in full comparison2024,2025, net cashflowsused in operating activitiesweretotaled ($53,993$44,712).consistingThisofamount reflects a consolidated net loss of$161,524, accumulated$68,765, depreciation expense of$5,918$1,086,forandthesoftwareperiod,impairmentwhichchargeswasof $43,401. These were partially offset by changes inaccountsprepaymentsreceivableand deposits of$0,$15,000, as well as accounts payable and accrued liabilities of$101,612,$35,434,asrelatedwelltoastheprepayments and depositsdisposal of$0WarpspeedandTaxithe write-off of a note receivable of $0.Inc.
As of July 31,see in full comparison2024,2025, our current assets of$25,039$10,000 consisted of$39$0 in cash and$25,000$10,000 in prepayments and deposits our total liabilities were$578,363,$542,930, which consisted of accounts payable ofthe WarpSpeed Taxi application andthe Privacy and Value software. We expect we will require additional capital to meet ourlong termlong-term operating requirements. We expect to raise additional capital through, among other methods, the sale of equity or debt securities.
For the fiscal year ended July 31,see in full comparison2024,2025, our cash flows used in investing activities were$51,000,$197,766, which consisted of the purchase costs of fixed assets and software related to the development and sale of the Privacy and Value computer monitoring software and theWarpSpeednet effect of disposal of Warpspeed Taxicomputer application.Inc.
Full comparison: every changed paragraph (6)
From August 1, 20232024 to our fiscal year end of July 31, 2024,2025, we earned a total of $0 in revenue from customer subscriptions for the Privacy and Value software. During the fiscal year ended July 31, 2024,2025, we incurred a consolidated net loss of $161,524$68,765 consisting entirely of impairment, general and administrative expenses.
As of July 31, 2024,2025, our current assets of $25,039$10,000 consisted of $39$0 in cash and $25,000$10,000 in prepayments and deposits our total liabilities were $578,363,$542,930, which consisted of accounts payable of the WarpSpeed Taxi application and the Privacy and Value software. We expect we will require additional capital to meet our long termlong-term operating requirements. We expect to raise additional capital through, among other methods, the sale of equity or debt securities.
We have not generated positive cash flows from operating activities. For the fiscal year ended July 31, 2024,2025, net cash flows used in operating activities weretotaled ($53,993$44,712). consistingThis ofamount reflects a consolidated net loss of $161,524, accumulated$68,765, depreciation expense of $5,918$1,086, forand thesoftware period,impairment whichcharges wasof $43,401. These were partially offset by changes in accountsprepayments receivableand deposits of $0,$15,000, as well as accounts payable and accrued liabilities of $101,612,$35,434, asrelated wellto asthe prepayments and depositsdisposal of $0Warpspeed andTaxi the write-off of a note receivable of $0.Inc.
We have financed our operations exclusively through the sale of our common stock. For the fiscal year ended July 31, 2024,2025, net cash from financing activities was $105,000.($153,093).
For the fiscal year ended July 31, 2024,2025, our cash flows used in investing activities were $51,000,$197,766, which consisted of the purchase costs of fixed assets and software related to the development and sale of the Privacy and Value computer monitoring software and the WarpSpeednet effect of disposal of Warpspeed Taxi computer application.Inc.
Property and equipment are recorded at cost. Depreciation of property and equipment are accounted for by accelerated methods over the following estimated useful lives:lives.
What changed in the latest 10-Q
Risk Factors
As a smaller reporting company, we are not required to make disclosures under this Item.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
Largest changes
“The management entered into agreements with Cyber Apps whereby they each will transfer 50,000,000 of our shares, for a total of 100,000,000 to Cyber Apps and its principals for a cash payment of $250,000 that was due on June 15, 2021. Cyber Apps did not make the $250,000 payment by the deadline date of June 15, 2021 and the agreement has been terminated.”see in full comparison
“The management obtained an independent valuation of the Privacy and Value software in its present form of development that estimated its value at approximately $2,200,000. Accordingly, the amount that was due from Cyber Apps to Limitless Projects Inc. under the Asset Purchase and Joint Agreement was $250,000.”see in full comparison
As ofsee in full comparisonJanuaryApril31,30, 2026, our liabilities were$562,154$572,103 compared to $542,930 on July 31, 2025. Liabilities onJanuaryApril31,30, 2026, and July 31, 2025 were comprised entirely of accounts payable and accrued liabilities.The decrease in the accounts payable and accrued liabilities in the current fiscal year is attributable to payment of outstanding invoices related to our software development expenses.
For thesee in full comparisonsixnine months endedJanuaryApril31,30, 2026, our cash flows used in investing activities were$12,000,($18,000), which relates to the purchase cost of fixed assets and softwarefrom the development and sale of the Privacy and Value computer monitoring software.development.
Our consolidated net loss for thesee in full comparisonsixnine months endedJanuaryApril31,30, 2026, and 2025 was$7,224$11,173 and$ 13,835,$21,525, which consisted entirely of general and administrativefees.fees from our Privacy and Value software product.
For thesee in full comparisonthreenine months endedJanuaryApril31,30, 2026, net cash flows from operating activities were$12,000$18,000 consisting of a net loss attributable to the Company of$7,224,$11,173, which was offset by non-cash components of accountspayablepayable, and accrued liabilities of$19,224.$29,173.
Full comparison: every changed paragraph (11)
We are currently developing an employee monitoring software that balances employer concerns regarding employee efficiency and productivity with employee privacy known as “Privacy and Value”. Our intention is to sell thesethis productsproduct to third parties who will sell the software to customers and launch the computer applications rather than become involved in the sales and marketing of these products ourselves.
The third party failed to make the payment due June 15, 2021, and the agreement has been terminated.
The management obtained an independent valuation of the Privacy and Value software in its present form of development that estimated its value at approximately $2,200,000. Accordingly, the amount that was due from Cyber Apps to Limitless Projects Inc. under the Asset Purchase and Joint Agreement was $250,000.
The management entered into agreements with Cyber Apps whereby they each will transfer 50,000,000 of our shares, for a total of 100,000,000 to Cyber Apps and its principals for a cash payment of $250,000 that was due on June 15, 2021. Cyber Apps did not make the $250,000 payment by the deadline date of June 15, 2021 and the agreement has been terminated.
Results of Operations for the sixnine months ended JanuaryApril 31,30, 2026 and 2025
Our consolidated net loss for the sixnine months ended JanuaryApril 31,30, 2026, and 2025 was $7,224$11,173 and $ 13,835,$21,525, which consisted entirely of general and administrative fees.fees from our Privacy and Value software product.
As at JanuaryApril 31,30, 2026, our current assets were $10,000 compared to $10,000 at July 31, 2025.
As of JanuaryApril 31,30, 2026, our liabilities were $562,154$572,103 compared to $542,930 on July 31, 2025. Liabilities on JanuaryApril 31,30, 2026, and July 31, 2025 were comprised entirely of accounts payable and accrued liabilities. The decrease in the accounts payable and accrued liabilities in the current fiscal year is attributable to payment of outstanding invoices related to our software development expenses.
For the threenine months ended JanuaryApril 31,30, 2026, net cash flows from operating activities were $12,000$18,000 consisting of a net loss attributable to the Company of $7,224,$11,173, which was offset by non-cash components of accounts payablepayable, and accrued liabilities of $19,224.$29,173.
For the sixnine months ended JanuaryApril 31,30, 2026, our cash flows used in investing activities were $12,000,($18,000), which relates to the purchase cost of fixed assets and software from the development and sale of the Privacy and Value computer monitoring software.development.
We have financed our operations from the issuance of our shares of common stock. Net cash flows generated from financing activities were $0 during the sixnine months ended JanuaryApril 31,30, 2026, as compared to $0 for the sixnine months ended JanuaryApril 31,30, 2025.
LLPS insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 0 Form 4 filings and open-market sales in 0 filings. Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
No Form 4 stock transactions in this period.
Well-known investors holding LLPS (13F)
None of the 59 investors we track reported a position in their latest 13F.