---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-021310"
form_type: "8-K"
ticker: "TLSS"
cik: "0001463208"
company_name: "Transportation & Logistics Systems, Inc."
filed_at: "2022-08-04T23:59:59+00:00"
generated_at: "2026-06-24T03:56:51.764681+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# TLSS subsidiary Cougar Express closes acquisition of JFK Cartage for $1.7M

## Summary
- Total consideration $1.7M: $401,552 cash, $696,935 note (25% AR collections weekly, then 3 annual installments at 5%).
- Assumed $503,065 SBA loan and $98,448 in accrued liabilities from seller.
- JFK Cartage had $3.6M revenue in 2021, $2.0M in H1 2022; operates 30,000 sq ft warehouse near JFK Airport.
- Provides warehousing, delivery, trucking services to 95+ accounts in NY tri-state area.
- Effective date July 31, 2022; seller Joan Ton is unrelated third party.

## SEC filing metadata
- accession: 0001493152-22-021310
- form_type: 8-K
- ticker: TLSS
- cik: 0001463208
- company_name: Transportation & Logistics Systems, Inc.
- filed_at: 2022-08-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1463208/000149315222021310/0001493152-22-021310-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1463208/000149315222021310/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-021310
- JSON: https://secwatch.observer/filing/0001493152-22-021310.json
- Plain text: https://secwatch.observer/filing/0001493152-22-021310.txt

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