TLSS subsidiary Shyp FX sells substantially all assets for $825,000 in cash

Transportation & Logistics Systems, Inc.

On June 21, 2022, Shyp FX (FedEx route servicer in NJ) sold substantially all assets to Farhoud Logistics Inc.
Gross proceeds of $825,000; net cash of $723,500 after $75,000 broker commission and $1,500 expenses.
Additional $25,000 held in escrow for bulk sale tax clearance and vehicle repair costs.
Transaction closed on June 21, 2022; buyer is an unrelated party.

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