secwatch.observer — SEC 8-K summary
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Issuer:     Transportation & Logistics Systems, Inc. (TLSS)
CIK:        0001463208
Form:       8-K
Filed at:   2022-06-24T23:59:59+00:00
Accession:  0001493152-22-017666
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1463208/000149315222017666/0001493152-22-017666-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1463208/000149315222017666/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-017666

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