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Transportation and Logistics Systems Inc. (TLSS)

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tlssinc.com - Home
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440 NJ-17, Hasbrouck Heights, NJ 0760


tlssinc.com - Home

As of May 13, 2022:
Authorized Shares: 10B
Shares Outstanding: 3,266,359,058

Incorporation State: Nevada

Number of Employees (Prime EFS): 400-500 (Depending on what source you reference)
Job Openings: Indeed.com https://www.indeed.com/cmp/Prime-Efs/jobs

2018 Revenue: $18.1M (Audited)
2019 Revenue: $30M+ (Projected May 2020)
TLSS is a revenue-generating company that posted more than $18 million in income in 2018 and is projecting an increase upwards of $60 million for the full-year ending in December of 2019.

New Investor Relations $TLSS Video



April 10th, 2020: CEO Letter to Shareholders

Dear Valued Shareholders,

For Transportation and Logistics Systems, Inc. (the “Company” or “TLSS”), 2019 was a year of both encouraging developments and several challenges.

Revenue more than doubled during the year, reaching $32.0 million, compared to revenue of $18.1 million in 2018. 
While the recent coronavirus pandemic has affected the country in dramatic ways, the Company’s delivery operations on behalf of Amazon and our other customers remain active. Shipping has been classified as an “essential business” and consumers have been increasing their online purchases due to sequestering, leading to growing demand for our services. In fact, Amazon has provided additional financial support to implement an hourly pay rate hike for our van drivers and raised our allowance for leased vans.

The transportation and logistics sector is an integral and growing part of the U.S. economy that has experienced significant growth since the country had emerged from recession. Over the ten years between 2008 and 2017, the industry has grown 12.7% and added 416,316 jobs. This growth outpaced the 5% job growth of the U.S. as a whole over the same time period. With the growing e-commerce sector driving the growth of the logistics market, the U.S. e-commerce industry is expected to register exponential growth going forward and account for 7% of all U.S. retail sales by 2023. Lasting changes to the economy from the effects of the pandemic may accelerate this growth.

 As such, the Company increased its number of vehicles, drivers, and independent contract drivers in anticipation of an increase in business during the holiday shopping season. In addition, the Company opened several new locations in the States of Georgia, Florida, Ohio and Tennessee, during the months of October through December 2019, adding to our existing locations in New Jersey, New York and Pennsylvania. This expansion contributed to the $10.0 million of revenue generated during the final quarter of 2019, which was nearly one-third of total revenue for the year.

March 31st, 2020: TLSS Implements $1.0 Million In Cost Reductions
Latest Restructuring Initiatives Target Overhead Expenses to Improve Operating Margins

WEST PALM BEACH, FLORIDA, March 31, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Transportation and Logistics Systems, Inc. (OTC: TLSS), (“TLSS", or the “Company"), a leading eCommerce fulfillment service provider, announced today its latest action to improve its overall financial condition. To strengthen the Company’s financial foundation, TLSS is implementing cost-cutting measures to reduce its annualized operating, administrative and corporate expenses by approximately $1.0 million, without any reduction in its employed drivers, the majority of which are effective immediately.
Sebastian Giordano, TLSS’ turnaround and restructuring consultant, indicated that “on the heels of last week’s announcement of a settlement agreement for outstanding merchant credit advances that will reduce and eliminate approximately $1.7 million of high-interest debt when completed, management and the Board of Directors are continuing to evaluate all opportunities to restructure the Company’s balance sheet and improve current operating results. The Company believes that these expense reductions are a significant step towards achieving that objective.”

March 24th, 2020: TLSS Announces $1.7 Million in Debt Settlement Agreements

Transportation and Logistics Systems, Inc. (OTC: TLSS), (“TLSS", or the “Company"), a leading eCommerce fulfillment service provider, announced today that it has entered into several debt settlement agreements which, when finalized, will eliminate a total of approximately $1.7 million of high interest rate loans.
The settlements include four (4) outstanding merchant credit advance loans in the aggregate amount of approximately $1,600,000 and a Senior Secured Promissory Note (“Secured Note”) in the approximate amount of $100,000 as well as the cancellation of 40,300 common stock warrants that were issued in connection with the Secured Note. TLSS will pay approximately $1,100,000, in the aggregate, to settle the debts (together, the “Debt Settlements”). Once completed, the Debt Settlements will also eliminate all default penalties, unpaid accrued interest, legal fees and other charges that could have been assessed on these debt instruments.
According to Sebastian Giordano, who was recently engaged as a turnaround and restructuring consultant and who negotiated the Debt Settlements, “TLSS’s cashflow has been severely hampered during the last several months by these high-interest loans which required the Company to make payments of over $500,000 per month in principal and interest. While more work remains to be done to stabilize the Company’s balance sheet, these discounted settlements are a significant first step toward improving the Company’s financial condition.”

March 19th, 2020: Transportation and Logistics Systems, Inc. Expands Operations to Accommodate Increased ECommerce DemandMarch 10th, 2020: TLSS Engages Sebastian Giordano as Turnaround and Restructuring Consultant

Mr. Giordano has more than thirty-years of strategic, operational and operations experience in leading start-up businesses, turnaround situations and emerging growth companies, as well as an extensive background with public companies, mergers and acquisitions and capital raising. In February 2013, Mr. Giordano joined WPCS International Incorporated as a member of its board of directors. He was subsequently named Interim Chief Executive Officer in August 2013 and Chief Executive Officer in April 2016, while leading a successful restructuring of WPCS, primarily through the: (i) sale and/or closing of unprofitable business units; (ii) reduction of millions of dollars in administrative costs; and (iii) elimination of all secured debt. This restructuring culminated in the completion of a reverse merger with DropCar, Inc. (NASDAQ: DCAR). Mr. Giordano currently serves on the board of directors of DCAR and following the reverse merger, provided consulting services to DCAR from July 2018 to March 2019.

March 3rd, 2020: TLSS Selects PCG Advisory for Investor Relations and Strategic Communications

Jeff Ramson, Founder and Chief Executive Officer of PCG Advisory, commented, "The logistics and transportation industry is an important and growing part of the U.S. economy. The sector has experienced significant growth in the ten years since the country has emerged from recession, growing 12.7% between 2008 and 2017 and adding 416,316 jobs. This outpaced the 5% job growth of the U.S. as a whole over the same time period. With the growing e-commerce sector driving the growth of the logistics market, the U.S. e-commerce industry is expected to register an exponential growth rate and account for 7% of all U.S. retail sales by 2023. We believe that TLSS can benefit from these trends and we look forward to executing a strategic communications program for them.”

List of PCG Clients & Publicly Traded Companies: https://pcgadvisory.com/clients/public-company-clients/
February 25th, 2020: New Investor Relations Video Uploaded https://www.youtube.com/watch?v=8va2zsmt6p8

John Mercadante, Chairman of the Board, President and Chief Executive Officer John cofounded Leisure Line, Inc., a motor coach company serving New York City and Atlantic City, New Jersey, in 1970 and served as the Chief Executive Officer for a ten year period through the sale of the company to Golden Nugget in 1980. At the time of the sale Leisure Line was generating approximately $11 million in annual revenues. In 1988 John cofounded Cape Transit, Inc., a motor coach company servicing Atlantic City, Philadelphia and South New Jersey. Under John’s leadership as CEO, annual revenues at Cape Transit grew from $2 million to more than $11 million. In May 1996, Cape Transit became one of the founding companies of Coach USA, Inc. and John Mercadante became Coach USA’s President and Chief Operating Officer. Coach USA had over 70 acquisitions during the three year period following their 1996 IPO. John was an integral part of growing Coach’s annual revenues from $100 million to over $1 billion in revenues in just three years. John has personally invested over $2 million in Prime EFS.

Tim Larkin, CFO for Prime EFS, LLC Subsidiary Tim joined in November 2018. Tim was Executive Vice President and Chief Financial Officer of Warren Resources, Inc. for 19 years. Warren is a Nasdaq-listed oil and gas producer that reached market capitalization of $1.0 billion under his tenure. Tim was also a CPA at Deloitte and Touche for six years.

PRIME EFS is a startup provider of logistics services for Amazon.com, including “last-mile” deliveries to residential and business locations as well as deliveries between Amazon sort centers and deliveries from Amazon sort centers to post offices. I lead all accounting and financial reporting functions for a wholly-owned subsidiary of publicly-traded company Transportation and Logistics Services, Inc., with responsibility for 500+ staff and $60M in projected revenue for 2019.


TLSS Closes Cougar Express Acquisition

March 25, 2021
Company Raises $2,300,000 to Fund Its 2nd Acquisition in First Quarter of 2021

JUPITER, FL / ACCESSWIRE / March 25, 2021 / Transportation and Logistics Systems, Inc. (OTC PINK:TLSS)("TLSS", or the "Company"), an eCommerce fulfillment service provider, today announced that on March 24, 2021, the Company acquired all of the outstanding stock of Cougar Express, Inc., a New York-based full-service logistics provider specializing in pickup, warehousing and delivery services in the tri-state area over the past 30 years ("Cougar Express"). Cougar Express' annual revenues have averaged approximately $4.0 million a year from 2018 to 2020. Acquired on a debt-free basis, the purchase price was $2,000,000 of cash and a promissory note of $350,000 ("Cougar Acquisition").

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According to Mr. John Mercadante, TLSS Chairman and CEO, "The overwhelming success of our restructuring efforts has paved the way for the Company to begin its revamped acquisition and growth strategy. On the heels of the recent acquisition of the operations of Double D Trucking, the closing of the Cougar Acquisition brings on board another long-established, well-run, profitable business."

In addition, the Company closed an equity financing that provided gross proceeds of $2,300,000, the majority of which was utilized to fund the cash portion of the Cougar Acquisition. Under the terms of a Securities Purchase Agreement, the Company issued to certain accredited investors in a private placement an aggregate of 197,044 units (the "Units") at a purchase price of $11.67 per Unit (including a 12.5% original issue discount), each consisting of one share of Series E Convertible Preferred Stock of the Company, par value $0.0001 per share ("Series E Shares"), and warrants to purchase 1,334 shares of common stock of the Company, par value $0.0001 per share ("Common Stock"), at an initial exercise price, subject to adjustment, of $0.01 per share.

About Transportation and Logistics Systems, Inc.

TLSS, through its wholly-owned operating subsidiaries, Shypdirect LLC,  and Cougar Express, Inc. operates as a full-service logistics and transportation company.

For more information, visit the Company's website, www.tlss-inc.com.



Current Price
Bid Ask Day's Range
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TLSS News: Quarterly Report (10-q) 05/13/2022 04:02:03 AM
TLSS News: Notice of Effectiveness (effect) 05/13/2022 02:08:36 AM
TLSS News: Securities Registration Statement (s-1/a) 05/06/2022 12:18:45 PM
TLSS News: Transportation and Logistics Systems GAAP EPS of $0.00, revenue of $5.59M misses by $0.28M 04/01/2022 05:22:43 AM
TLSS News: WPUR Signals Bullish at $0.01 On New CEO and ALYI EV Partnership News 02/01/2022 07:13:27 AM
#42847   I knew you would enjoy that. Seeming you JACKPOT 05/19/22 11:27:10 AM
#42846   LMAO!!!!!!!!!!!!!!!!!!!!!!!!!!!! BigPennyHits 05/19/22 11:22:43 AM
#42845   When TLSS is on NASDAQ, I anticipate multiple JACKPOT 05/19/22 11:12:38 AM
#42844   Thats right BigPennyHits 05/19/22 11:11:00 AM
#42843   So true. All the bulls that have been steveruss 05/19/22 11:10:18 AM
#42841   Oh it's coming, that's why I added more JACKPOT 05/19/22 11:06:24 AM
#42840   Hows the $100 million revs and nasdaq and BigPennyHits 05/19/22 11:05:04 AM
#42838   not surprising, but yes. Don't worry...Giordana will be steveruss 05/19/22 10:35:16 AM
#42837   Wow, someone wanted out bad dropping 2M+ shares jonsmile 05/19/22 10:27:56 AM
#42835   Is today a new year low ? jonsmile 05/19/22 10:24:21 AM
#42834   So long gone that you can't seem to JACKPOT 05/19/22 10:24:03 AM
#42833   This thing is about to be long gone. BigPennyHits 05/19/22 10:19:59 AM
#42832   Literally ROTF LMFAO! steveruss 05/18/22 05:12:30 PM
#42829   Only thing I'm banking on is me making JACKPOT 05/18/22 03:35:02 PM
#42828   Please tell us what acquisition you are referencing.........Salsen? steveruss 05/18/22 03:27:13 PM
#42827   I put up stink bids in the .006s JACKPOT 05/18/22 03:07:33 PM
#42826   Nope that’s my magic number Come to papa jonsmile 05/18/22 03:04:08 PM
#42825   Aren't you tired of saying you're gonna buy JACKPOT 05/18/22 02:09:15 PM
#42823   you will get a chance to buy all steveruss 05/18/22 02:04:40 PM
#42820   Price sucks, no doubt about it. Nobody will JACKPOT 05/18/22 01:56:04 PM
#42815   EVEN MORE PATHETIC AND ENEMIC VOLUME TODAY.....650K SH....LMFAO.....WHAT steveruss 05/17/22 11:47:26 AM
#42811   when I initially posted there were just 4mil steveruss 05/16/22 09:21:31 PM
#42810   Still wrong JACKPOT 05/16/22 08:07:03 PM
#42809   .005 is my magic number for another million shares jonsmile 05/16/22 08:03:28 PM
#42808   $28k of actually money changing hands! Thats it...just 28k!!! steveruss 05/16/22 03:39:12 PM
#42807   Agreed 100% JACKPOT 05/16/22 03:33:58 PM
#42804   5 million in volume and you say it kaeamrjs 05/16/22 03:31:37 PM
#42803   $28 worth of trading? Where did you go JACKPOT 05/16/22 03:18:34 PM
#42801   I most certainly agree. Look at this volume.$28 steveruss 05/16/22 02:53:50 PM
#42800   The next new catalyst is delisting. 0.003-0.004 on BigPennyHits 05/16/22 01:06:36 PM
#42799   When we get new$, and the pps is JACKPOT 05/16/22 01:02:35 PM
#42798   Thats correct BigPennyHits 05/16/22 01:00:32 PM
#42797   WHAT DEALS ARE YOU REFERENCING? THE PIRE IN steveruss 05/16/22 12:50:44 PM
#42796   All in good time, all in good time. PennyStockTrader2 05/16/22 12:04:04 PM
#42795   Just makes no sense. This is the farthest BigPennyHits 05/16/22 11:55:40 AM
#42794   As committed, I have started the buying, 230K PennyStockTrader2 05/16/22 10:59:56 AM
#42793   TLSS is about to be generating more revs JACKPOT 05/15/22 04:21:52 PM
#42791   What a joke.. co isn’t profitable. They lost steveruss 05/15/22 03:09:10 PM
#42790   $TLSS ! :) Bigfootbud 05/14/22 03:54:54 PM
#42788   Profitable penny stock and the board is quiet? JACKPOT 05/13/22 06:32:16 PM
#42787   What are u showing us ? jonsmile 05/13/22 04:31:11 PM
#42786   https://www.otcmarkets.com/filing/html?id=15813450&guid=uTKwkpPkNgO-Qth JACKPOT 05/13/22 02:13:03 PM
#42784   Let’s Hope so we are all getting smacked jonsmile 05/12/22 10:50:09 PM
#42783   I see the exact same thing! It's building msripley 05/12/22 08:18:34 PM
#42782   $TLSS !!! :) Bigfootbud 05/12/22 06:50:51 PM
#42781   There will be no dumping. The same group JACKPOT 05/12/22 06:42:24 PM
#42780   Theres 2 billion being dumped into this float. BigPennyHits 05/12/22 06:22:12 PM
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