Transportation and Logistics Sy
0.0001+0.00 (+50%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · TLSS · USD
Key Stats
Market Cap
883.42KP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0%Recent Filings
8-K
TLSS settles debts with preferred stock
Transportation and Logistics Systems settled $378,491.25 in outstanding liabilities on October 15, 2025, by issuing 3,785 shares of Series J Senior Convertible Preferred Stock to creditors. This debt-for-equity swap, conditioned on exchanging at least 50% of Series E and G preferred shares—which was met—eases immediate cash pressures while adding senior claims with 10% dividends and $0.001 conversion price. Yet insolvency lingers.
8-K
Debt settled via preferred stock
Transportation and Logistics Systems settled $50,274 in outstanding liabilities with a creditor by issuing 503 shares of Series J Senior Convertible Preferred Stock on September 15, 2025, converting debt into equity amid insolvency. This move clears immediate obligations but adds preferred claims with 10% dividends and $0.001 conversion price, while the company has ceased operations and struggles with reporting. Debt swaps like this preserve cash—yet.
8-K
Series J amendment filed
Transportation and Logistics Systems amended its Series J Senior Convertible Preferred Stock certificate on September 5, 2025, narrowing the Triggering Event definition to exclude pre-existing events or circumstances. Approved by the board and majority Series J holders, this tweak shields the company from past triggers. It streamlines preferred stock terms without altering core rights. No immediate financial impact disclosed.
8-K
Secures $50K note, grants stock
Transportation and Logistics Systems secured a $50,000 unsecured promissory note at 10% interest, maturing in six months from August 27, 2025, to cover SEC filing preparations, tax compliance, and routine litigation fees. It granted 4,775 shares of Series J Senior Convertible Preferred Stock to CEO Sebastian Giordano and other grantees on August 28, 2025, settling service obligations. Yet Giordano's termination notice for unpaid compensation extends his role to November 30, 2025, with accruing claims. This bridges immediate cash needs but highlights ongoing liquidity strains.
10-Q
Q2 FY2025 results
Transportation and Logistics Systems swung to a net income of $448,672 for the six months ended June 30, 2025, from a $2.6M loss a year earlier, driven by a $1.5M gain on debt extinguishment after converting $3.1M in notes, payables, and accrued interest into Series J preferred stock. Continuing operations posted $635K income versus a $1.2M loss y/y, while discontinued logistics units narrowed their loss to $187K from $1.5M, reflecting ceased operations since February 2024. Cash dwindled to $63K from $177K at year-end, with $390K used in operations offset by $275K in new notes; total liabilities fell to $9.0M from $12.1M, but shareholders' deficit widened to $18.3M amid $9.4M in new Series J preferred. Debt restructuring cleared related-party notes, yet ongoing litigation and insolvency raise execution risks.
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