secwatch.observer — SEC 8-K summary
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Issuer:     Transportation & Logistics Systems, Inc. (TLSS)
CIK:        0001463208
Form:       8-K
Filed at:   2024-11-29T23:59:59+00:00
Accession:  0001493152-24-048188
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Transportation and Logistics Systems Enters $50K Note and Corrects Unauthorized Reverse Stock Split
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- Entered into $50,000 unsecured non-convertible promissory note with Cavalry Fund I LP at 10% interest, due in six months.
- Filed Certificate of Correction with Nevada Secretary of State to withdraw unauthorized December 2023 reverse stock split.
- Note proceeds allocated to completing 2023 audit, SEC/OTC filings, tax compliance, and routine litigation fees.
- The note is junior to existing notes totaling $1,547,837.96 and in parity with $250,000 in prior notes.
- Similar notes were previously entered on August 12, 2024 and October 9, 2024 with the same lender.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1463208/000149315224048188/0001493152-24-048188-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1463208/000149315224048188/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-048188

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer