Transportation & Logistics Systems, Inc.

Transportation & Logistics Systems, Inc. (TLSS) announced a First Amendment to its Member Interest and Asset Exchange Agreement with Badcer Ops, Inc., Patriot Glass Solutions, LLC (PGS), and other parties. This amendment, dated June 1, 2026, modifies several key dates related to the previously disclosed reverse triangular merger of TLSS's subsidiary into PGS. The changes primarily extend deadlines for the merger's effective time, due diligence, and financial statement delivery.

Transportation & Logistics Systems, Inc. announced an agreement to acquire Patriot Glass Solutions, LLC for $4.75 million, payable in Series J Senior Convertible Preferred Stock. This acquisition signifies a strategic pivot for the company, which ceased all its logistics and transportation operations in February 2024, towards becoming a leader in the safety and security technology industry. Despite a reduced net loss of $324,884 in Q1 2026, the company continues to face significant financial challenges, including a substantial doubt about its ability to continue as a going concern.

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.

Transportation & Logistics Systems, Inc. filed an 8-K report indicating a material agreement. The filing includes forward-looking statements and discusses risks and uncertainties that could affect future results, including the company's ability to execute its business strategies and integrate acquisitions.