{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-001177","form_type":"8-K","ticker":"TLSS","cik":"0001463208","company_name":"Transportation & Logistics Systems, Inc.","filed_at":"2025-03-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.700506+00:00","generated_at":"2026-05-24T02:58:49.731755+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.25,"confidence":"high","headline":"Transportation and Logistics Systems enters $75K unsecured note at 10% interest, 6-month maturity","bullets":["$75,000 promissory note issued to C/M Capital Master Fund, LP; 10% simple interest, due in 6 months.","Proceeds to fund 2024 audit, 2025 Q1 review, SEC filings, tax compliance, and litigation costs.","Note is unsecured, non-convertible; events of default include payment failure and bankruptcy.","Note is subordinate to $1.55M senior notes (Giordano, Mercadante, others) and in parity with $450K prior notes.","Simultaneous letter agreement restricts use of proceeds and requires lender approval for disbursement."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-001177","json":"https://secwatch.observer/filing/0001641172-25-001177.json","markdown":"https://secwatch.observer/filing/0001641172-25-001177.md","text":"https://secwatch.observer/filing/0001641172-25-001177.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1463208/000164117225001177/0001641172-25-001177-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1463208/000164117225001177/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T02:58:49.731755+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"}