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TLSS acquires 80% of Patriot Glass Solutions for $4.75M in Series J preferred stock
Deal consideration is $4.75M, payable as 47,500 shares of TLSS Series J Senior Convertible Preferred at $100/share stated value.
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TLSS settles $1.4M CEO pay with preferred stock; retention bonuses up to $500k
CEO Giordano settles $1,400,711.62 in outstanding liabilities for 10,007 shares of Series J convertible preferred stock.
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TLSS settles $378K liabilities with Series J preferred shares; insolvent with ceased operations
Settled $378,491.25 in liabilities by issuing 3,785 shares of Series J Senior Convertible Preferred Stock.
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TLSS settles $50k debt with Series J Preferred; discloses insolvency and cessation of operations
Settled $50,273.97 in liabilities by issuing 503 shares of Series J Preferred Stock to a note holder.
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TLSS exchanges 25M-share warrants for 22 preferred shares; settles $506k in liabilities with equity
Warrant holder exchanged warrants for up to 25M common shares for 22 shares of Series J Senior Convertible Preferred Stock.
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TLSS exchanges 112,500 Series G shares plus $258,864 dividends for 13,857 Series J shares; cancels 20M warrants
Exchanged 112,500 Series G shares (27.68% of Series G) and $258,864 accrued dividends for 13,857 Series J shares.
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Transportation & Logistics exchanges most preferred stock and settles $583K liabilities for new Series J preferred
Exchanged 21,418 Series E shares (100% outstanding) and 274,000 Series G shares (59%) for 37,840 Series J preferred shares.
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TLSS settles $2.5M debt with 25,465 Series J preferred shares; operations ceased
Settlement agreements dated May 30, 2025 exchange $2,546,519.70 in liabilities for 25,465 shares of Series J Senior Convertible Preferred Stock.
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TLSS extends CEO departure to Aug 31, issues $50k note, creates Series J Preferred
CEO Sebastian Giordano's termination notice extended to Aug 31, 2025; company unable to cure nonpayment of compensation.
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TLSS extends $150K notes maturity to Aug 2025; default on $64.5K note triggers 17% rate
Extended maturity of $150K August 2024 Notes to Aug 12, 2025; interest remains 10%.
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Transportation and Logistics Systems Enters $50K Note and Corrects Unauthorized Reverse Stock Split
Entered into $50,000 unsecured non-convertible promissory note with Cavalry Fund I LP at 10% interest, due in six months.
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TLSS borrows $150k at 10% to fund audit; CEO termination standstill extended to Nov 15
Company issued $150k in promissory notes to Mercer Street and Cavalry Fund at 10% interest, due in 6 months.