Loan & DebtApr 28, 2026, 05:01 PM
TLSS Secures $100K Promissory Note at 10% Interest
AI Summary
Transportation & Logistics Systems, Inc. (TLSS) entered into a $100,000 unsecured non-convertible promissory note with C/M Capital Master Fund, LP on April 24, 2026. The note carries a 10% annual interest rate, due at maturity in six months. Proceeds will fund SEC/OTC filings, tax and compliance activities, transfer agent costs, and routine litigation. The agreement includes standard prepayment terms and default clauses, with a 5% monthly penalty for extended default.
Key Highlights
- Secured $100,000 unsecured non-convertible promissory note from C/M Capital Master Fund, LP.
- Note carries an interest rate of 10% per annum, due at maturity in six months.
- Proceeds will fund SEC/OTC filings, tax/compliance activities, transfer agent costs, and routine litigation.
- Prepayment is allowed in whole or part with three business days' written notice, without penalty.
- A default penalty of 5.0% per month applies after 30 days of non-payment on the outstanding amount.
Price Impact
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