TLSS exchanges warrants, settles $422.74 of liabilities for Series J Preferred

Transportation & Logistics Systems, Inc.

Exchange agreement: holder trades warrants for up to 10M common shares for 9 shares of Series J Preferred Stock.
Settlement agreement: creditor cancels $422.74 in liabilities and 17.86M share warrants in exchange for 4 Series J Preferred shares.
Both issuances are unregistered, relying on Sections 3(a)(9) and 4(a)(2) of the Securities Act.
Settlement conditioned on at least 50% of Series E and G Preferred having been exchanged for Series J, now satisfied.

item 1.01item 3.02item 9.01

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