---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-018169"
form_type: "8-K"
ticker: "TLSS"
cik: "0001463208"
company_name: "Transportation & Logistics Systems, Inc."
filed_at: "2022-06-30T23:59:59+00:00"
generated_at: "2026-06-24T21:58:53.331046+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-22-018169
- form_type: 8-K
- ticker: TLSS
- cik: 0001463208
- company_name: Transportation & Logistics Systems, Inc.
- filed_at: 2022-06-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1463208/000149315222018169/0001493152-22-018169-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1463208/000149315222018169/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-018169
- JSON: https://secwatch.observer/filing/0001493152-22-018169.json
- Plain text: https://secwatch.observer/filing/0001493152-22-018169.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.