---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-041138"
form_type: "8-K"
ticker: "TLSS"
cik: "0001463208"
company_name: "Transportation & Logistics Systems, Inc."
filed_at: "2024-10-15T23:59:59+00:00"
generated_at: "2026-05-30T14:31:17.883024+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# TLSS enters $100K promissory notes with 10% interest to fund audit and SEC filing compliance

## Summary
- Aggregate $100,000 unsecured non-convertible notes; 10% annual interest; 6-month maturity.
- Proceeds used for 2023 audit, 2024 quarterly reviews, SEC/OTC filings, tax good standing, routine litigation.
- Lenders: Mercer Street Global Opportunity Fund and Cavalry Fund I LP; notes are junior to certain existing notes.
- Default penalty of 5% per month on outstanding amount after 30-day cure period.

## SEC filing metadata
- accession: 0001493152-24-041138
- form_type: 8-K
- ticker: TLSS
- cik: 0001463208
- company_name: Transportation & Logistics Systems, Inc.
- filed_at: 2024-10-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1463208/000149315224041138/0001493152-24-041138-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1463208/000149315224041138/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-041138
- JSON: https://secwatch.observer/filing/0001493152-24-041138.json
- Plain text: https://secwatch.observer/filing/0001493152-24-041138.txt

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