{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-22-026317","form_type":"8-K","ticker":"TLSS","cik":"0001463208","company_name":"Transportation & Logistics Systems, Inc.","filed_at":"2022-09-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:55.831298+00:00","generated_at":"2026-06-23T08:29:47.697134+00:00","sec_items":["2.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"TLSS completes acquisition of Freight Connections for ~$9.9M","bullets":["Total consideration ~$9.9M: $1,501,291 cash, $4,544,671 secured note, $341,605 debt assumption, plus $3,513,571 in TLSS stock.","Freight Connections had 2021 revenue of $8.0M and $4.7M in first half 2022; operates 30 power units and 50 trailers.","Joseph Corbisiero, sole shareholder and seller, signed a 3-year employment agreement to continue as CEO of Freight Connections.","The promissory note accrues interest at 5% then 10% after March 2023, due in a balloon payment on Dec 31, 2023.","TLSS issued shares of common stock (up to 4.99% of outstanding) and Series H Convertible Preferred for the stock portion."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-22-026317","json":"https://secwatch.observer/filing/0001493152-22-026317.json","markdown":"https://secwatch.observer/filing/0001493152-22-026317.md","text":"https://secwatch.observer/filing/0001493152-22-026317.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1463208/000149315222026317/0001493152-22-026317-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1463208/000149315222026317/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-23T08:29:47.697134+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}