secwatch.observer — SEC 8-K summary
======================================

Issuer:     Transportation & Logistics Systems, Inc. (TLSS)
CIK:        0001463208
Form:       8-K
Filed at:   2026-09-23T20:30:21+00:00
Accession:  0001493152-26-043934
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TLSS extends PGS acquisition closing to Oct 1; $4.75M in preferred stock
------------------------------------------------------------------------

- Fourth Amendment extends closing date to Oct 1, 2026 (from Sept 16) and due diligence/financial delivery to Sept 25, 2026.
- Merger consideration: $4.75M in 47,500 shares of TLSS Series J Senior Convertible Preferred Stock (stated value $100/share).
- Acquisition via reverse triangular merger: 80% of PGS plus 4 C-Bond nanotechnology patents from Badcer Ops.
- PGS provides window tint/film and C-Bond glass strengthening products across 50+ dealer network; Wanke retains 20% with planned employment agreement.
- Closing conditions include audited 2024/2025 and unaudited Q1/Q2 2026 PGS financials by Sept 25 and landlord consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1463208/000149315226043934/0001493152-26-043934-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1463208/000149315226043934/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-043934

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