---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-006461"
form_type: "8-K"
ticker: "TLSS"
cik: "0001463208"
company_name: "Transportation & Logistics Systems, Inc."
filed_at: "2025-02-13T23:59:59+00:00"
generated_at: "2026-05-26T22:12:45.622720+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# TLSS extends $150K notes maturity to Aug 2025; default on $64.5K note triggers 17% rate

## Summary
- Extended maturity of $150K August 2024 Notes to Aug 12, 2025; interest remains 10%.
- Default on $64,534 Mercadante Note due Feb 6, 2025; interest rate increased to 17% effective Feb 7.
- Noteholders: Mercer Street Global Opportunity Fund ($75K) and Cavalry Fund I LP ($75K).
- Default notice received from director John Mercadante for unpaid principal and interest.

## SEC filing metadata
- accession: 0001493152-25-006461
- form_type: 8-K
- ticker: TLSS
- cik: 0001463208
- company_name: Transportation & Logistics Systems, Inc.
- filed_at: 2025-02-13T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.04, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1463208/000149315225006461/0001493152-25-006461-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1463208/000149315225006461/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-006461
- JSON: https://secwatch.observer/filing/0001493152-25-006461.json
- Plain text: https://secwatch.observer/filing/0001493152-25-006461.txt

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