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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

Everything below is quoted or computed from Limitless Projects Inc.'s public SEC filings. It is not a recommendation to buy or sell. Automated comparisons can contain errors; confirm with the original filing.

At a glance

0Form 4 filings reporting open-market purchases (last 180 days)
0Form 4 filings reporting open-market sales (last 180 days)

Jump to: Annual report (10-K) · Quarterly report (10-Q) · Insider transactions · 13F holders

What changed in the latest 10-K

Comparing 10-K filed 2025-10-01 (period ending 2025-07-31) with 10-K filed 2025-09-12 (period ending 2024-07-31).

Risk Factors (10-K Item 1A)

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) (10-K Item 7)

0new paragraphs
0removed paragraphs
6reworded paragraphs
1,164 → 1,164words in section

Largest changes (selected automatically by length and topic keywords; quoted verbatim, no commentary)

Reworded topics: impairment

Paragraph as it now reads, with added and removed wording marked:

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.
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Reworded

Paragraph as it now reads, with added and removed wording marked:

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.
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Reworded

Paragraph as it now reads, with added and removed wording marked:

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.
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Full comparison: every changed paragraph (6)

Green = added, red = removed. Unchanged paragraphs, 1 paragraphs where only numbers/dates changed, and tables are not shown. Read the complete text in the original filing.

Reworded

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.

Reworded

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.

Reworded

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.

Reworded

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).

Reworded

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.

Reworded

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

Comparing 10-Q filed 2026-06-12 (period ending 2026-04-30) with 10-Q filed 2026-03-25 (period ending 2026-01-31).

Risk Factors (10-Q Part II, Item 1A)

0new paragraphs
0removed paragraphs
0reworded paragraphs
15 → 15words in section

The section in the latest 10-Q reads in full:

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)

Green = added, red = removed. Unchanged paragraphs and tables are not shown. Read the complete text in the original filing.

Management's Discussion & Analysis (MD&A) (10-Q Part I, Item 2)

1new paragraphs
2removed paragraphs
8reworded paragraphs
1,490 → 1,357words in section

Largest changes (selected automatically by length and topic keywords; quoted verbatim, no commentary)

Removed text
“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.”
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Removed text
“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.”
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Reworded

Paragraph as it now reads, with added and removed wording marked:

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.
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Reworded

Paragraph as it now reads, with added and removed wording marked:

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.
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Reworded

Paragraph as it now reads, with added and removed wording marked:

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.
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Reworded

Paragraph as it now reads, with added and removed wording marked:

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.
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Full comparison: every changed paragraph (11)

Green = added, red = removed. Unchanged paragraphs and tables are not shown. Read the complete text in the original filing.

Reworded

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.

Added

The third party failed to make the payment due June 15, 2021, and the agreement has been terminated.

Removed

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.

Removed

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.

Reworded

Results of Operations for the sixnine months ended JanuaryApril 31,30, 2026 and 2025

Reworded

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.

Reworded

As at JanuaryApril 31,30, 2026, our current assets were $10,000 compared to $10,000 at July 31, 2025.

Reworded

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.

Reworded

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.

Reworded

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.

Reworded

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.

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