TLSS subsidiary Cougar Express agrees to acquire JFK Cartage for ~$1.7M

Transportation & Logistics Systems, Inc.

Total purchase price approx. $1,700,000; payable as $500,000 cash, $700,000 secured note, $500,000 SBA loan assumption.
JFK Cartage operates 30,000 sq ft warehouse near JFK Airport; serves 95+ commercial accounts in NY tri-state area.
Conditions include landlord consents, due diligence, SBA loan approval; closing expected end of July 2022.
Note: 5% interest, principal due in three equal installments at years 1, 2, 3; secured by company assets.
TLSS expects to expand its JFK footprint, add profitable operation, and leverage Cougar Express capabilities.

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