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TLSS Acquisition Expected to Double Revenues and Bring Company Closer to Profitability
JUPITER, FL / ACCESSWIRE / September 20, 2022 / Transportation and Logistics Systems, Inc. (OTC PINK:TLSS), ("TLSS" or the "Company"), a logistics service provider, announced today that on September 16, 2022, through its wholly-owned subsidiary, TLSS-FC, Inc. ("TLSSFC"), it closed on a stock purchase agreement ("SPA") by acquiring 100% of the outstanding stock of Freight Connections, Inc. ("FC") located in Ridgefield Park, New Jersey.
Sebastian Giordano, Chairman and Chief Executive Officer of TLSS, commented, "Freight Connections is a growing, profitable New Jersey-based business offering an array of transportation, warehousing, consolidating, distribution, and local cartage services throughout the tri-state area. Moreover, I am glad that its sole owner, Joseph Corbisiero, a seasoned operator, with over 30 years of industry experience, will be staying on as President and CEO of the FC subsidiary to continue growing the business even further."
The total purchase price was $9,365,000 plus closing adjustments and expenses of $536,139. The Company: (i) paid $1,501,291 in cash at closing; (ii) entered into a $4,544,671 secured promissory note with the Seller, with interest accruing at the rate of 5% per annum and then 10% per annum as of March 1, 2023. (The entire unpaid principal amount under the note, together with all accrued and unpaid interest thereon and all other amounts payable thereunder, shall be due and payable in one balloon payment on December 31, 2023, unless paid sooner. The promissory note is secured solely by the assets of Freight Connections.); and (iii) assumed $341,606 in debt. The Company shall issue to the Seller stock of the Company, with a value at Closing of $3,513,571 as follows: (a) shares of common stock of the Company equal to no more than 4.99% of the number of shares of common stock outstanding immediately after such issuance, and (b) promptly after closing, the balance of the shares in Series H Convertible Preferred Stock, a new series of non-voting, convertible preferred stock issuable to sellers in connection with acquisitions or strategic transactions approved by a majority of the directors of the Company.
https://www.otcmarkets.com/stock/TLSS/news/story?e&id=2328265
TLSS.....UP 21.1%
Dumbass retailer selling his shares @ .1217 when they're worth .22
Gonna be a fun ride UP again.
"Glad to be wrong"? Good, cause you're wrong.
Multiple acquisitions in our horizon.
TLSS = Coach USA 2.0
Go listen to the conference call by Sebastian...he explains it perfectly
Wow you are sooo wrong
The Freight Connections total purchase price was $9,365,000
Scam? LMAO
If/when BODs are buying, so should you. Just sayin!
It's about time someone smacked some assk.
Market caps & valuations on penny stocks? Now that's funny.
Retailer looking to sell @ .118 is either clueless, broke or doesn't have patience to double their $$$ within 75 days. Wow!
.05+ coming
I suggest on the next pop u sell and never look back. Pennyland is not for you.
When the stock starts moving UP please remind me how sad it was for buying in the .005s
No but when I see .005s I like to keep adding.
New Market Maker BLAS SAN Blas Securities LLC
SAN Blas Securities LLC operates as a brokerage firm. The Company provides brokerage, stock trading, fixed income, financing agreements designing, merger and acquisition, debt and financial structuring, investment advice, and stock analysis services. SAN Blas Securities serves customers worldwide.
I added "AGAIN"
It can change any day once FC closes. Boo!
No change in share structure: https://www.otcmarkets.com/stock/FUNN/security
Still shows FUNN
Shows FUNN on my screen
I don't care about price right now. All I care about is the FC announcement.... that would be "Bullish" to me.
Then why are you here posting? Fishing/ hunting is a lot more exciting.
1 day closer to finalizing Freight Connections.
Easiest $$$ to be made in OTC....DTGI
I'm gonna tell you and this board for the last time.....DEEP POCKETS here, not Reddit, Stocktwits,Ihub pikers. Wait for acquisitions to start to flow.
This COO is gonna make $475k. Wanna know why? TLSS is anticipating on generating tens of millions of dollars, eventually 100m+. This is not gonna be your typical stinky pinky for very long.
Believe me or not....I don't give a flying kite.
UP 29.4% on less than 900k shares traded. Can you imagine when we get new$......weeeeee
Some people look at a glass half empty while others look at the glass half full.........
As we prepare for growth and expansion through acquisitions, it is imperative that the Company has an experienced and seasoned industry executive to ensure operational excellence, successful integration and profitable organic growth
TL$$
Stick around.
Once the acquisitions start getting finalized, with the company & landlords, positive attitude on this forum will be back :)
TLSS = Coach USA 2.0 coming
TLSS is gonna be BIGGER than anyone on this forum thinks/believes. Just sayin!
My $$$ is not betting on JK. You need to open your eyes.
It's not difficult to grow this business. It just takes the right partnership/management to get it going. If Tempe is an "ATM" machine that some folks claim, then go to the next college town in AZ and open another S&L.
Every large college town in the USA should have 1..... inexpensive entertainment for college students.
I already averaged down....loaded my boat in the .005s
Now I'm gonna wait for news and watch my portfolio grow.
I've been stink bidding myself every day just in case some genius puts up a market order to sell. LOL