{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-22-015106","form_type":"8-K","ticker":"TLSS","cik":"0001463208","company_name":"Transportation & Logistics Systems, Inc.","filed_at":"2022-05-26T23:59:59+00:00","discovered_at":"2026-05-14T18:04:00.802953+00:00","generated_at":"2026-06-25T06:42:46.835756+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"TLSS to acquire Freight Connections for ~$7M in cash, note, and stock","bullets":["Purchase price ~$7M (5x trailing EBITDA) paid as $4M cash, $500K secured note (4yr, 5%), and balance in TLSS stock.","Freight Connections is a NJ logistics provider with ~200K sq ft warehouse, 500+ commercial accounts, operating ~10 years.","Closing expected ~60 days after May 23, 2022, subject to due diligence, financing, and landlord consent.","Seller Joseph Corbisiero will continue as employee under employment and non-compete agreements.","TLSS sees acquisition as expansion into tri-state area, leveraging existing Cougar Express subsidiary operations."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-22-015106","json":"https://secwatch.observer/filing/0001493152-22-015106.json","markdown":"https://secwatch.observer/filing/0001493152-22-015106.md","text":"https://secwatch.observer/filing/0001493152-22-015106.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1463208/000149315222015106/0001493152-22-015106-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1463208/000149315222015106/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-25T06:42:46.835756+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}