{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-010039","form_type":"8-K","ticker":"TLSS","cik":"0001463208","company_name":"Transportation & Logistics Systems, Inc.","filed_at":"2025-03-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.700305+00:00","generated_at":"2026-05-24T22:15:12.137810+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"Transportation and Logistics Systems issues $100K promissory note at 10% to fund audit and SEC filings","bullets":["Principal $100,000, 10% simple interest, 6-month maturity, non-convertible; entered into on March 10, 2025.","Proceeds restricted to 2024 audit, 2025 Q1 review, SEC/OTC filings, tax compliance, and ordinary course litigation fees.","Note is junior to ~$1.55M in senior notes (Giordano, Mercadante, others) and pari passu with $350K in parity notes (Cavalry Fund, Mercer Street).","Default triggers 5% monthly penalty on outstanding after 30-day cure; Lender may accelerate upon uncured default."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-010039","json":"https://secwatch.observer/filing/0001493152-25-010039.json","markdown":"https://secwatch.observer/filing/0001493152-25-010039.md","text":"https://secwatch.observer/filing/0001493152-25-010039.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1463208/000149315225010039/0001493152-25-010039-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1463208/000149315225010039/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T22:15:12.137810+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"}