---
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"
generated_at: "2026-05-24T02:58:49.731755+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Transportation and Logistics Systems enters $75K unsecured note at 10% interest, 6-month maturity

## Summary
- $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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-001177
- JSON: https://secwatch.observer/filing/0001641172-25-001177.json
- Plain text: https://secwatch.observer/filing/0001641172-25-001177.txt

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