---
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"
generated_at: "2026-05-24T22:15:12.137810+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Transportation and Logistics Systems issues $100K promissory note at 10% to fund audit and SEC filings

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-010039
- JSON: https://secwatch.observer/filing/0001493152-25-010039.json
- Plain text: https://secwatch.observer/filing/0001493152-25-010039.txt

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