{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-040353","form_type":"8-K","ticker":"TLSS","cik":"0001463208","company_name":"Transportation & Logistics Systems, Inc.","filed_at":"2023-11-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:29.137711+00:00","generated_at":"2026-06-08T04:54:31.811921+00:00","sec_items":["1.01","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"TLSS subsidiaries amend Severance deal: note reduced $171,887, maturity extended to Feb 2025","bullets":["Principal amount of purchase price promissory note reduced by $171,887 due to post-closing working capital adjustment.","Maturity of promissory note extended from August 1, 2024 to February 1, 2025; payment schedule adjusted.","Court approved settlement: TLSS pays $50,000 to assignee of former subsidiaries Prime EFS and Shypdirect, releasing all avoidance claims.","Indemnification provided for former trustee of Severance 401(k) plan for actions taken on behalf of the company."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-040353","json":"https://secwatch.observer/filing/0001493152-23-040353.json","markdown":"https://secwatch.observer/filing/0001493152-23-040353.md","text":"https://secwatch.observer/filing/0001493152-23-040353.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1463208/000149315223040353/0001493152-23-040353-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1463208/000149315223040353/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T04:54:31.811921+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":[{"claim_id":"328ce257ad8ca2afdd45e601def6b6635a00a6b8","claim":"Transportation & Logistics Systems, Inc. amended Post-Closing Agreement with Kathryn Boyd, Clyde J. Severance and Robert H. Severance, Jr. valued at $171,887.00 (effective 2023-11-08).","evidence_excerpt":"The Post-Closing Agreement amended certain terms of the Stock Purchase Agreement, dated January 4, 2023 (the \"SPA\"), and provided for an accounting of certain post-closing obligations and accounts. Among other things, the Post-Closing Agreement provided for a reduction of $171,887.00 in the principal amount payable under the purchase price promissory note","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1463208/000149315223040353/0001493152-23-040353-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Kathryn Boyd, Clyde J. Severance and Robert H. Severance, Jr."},{"label":"Value","value":"$171,887.00"},{"label":"Effective","value":"2023-11-08"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}