Here’s a fact :
Looks like ur theory has some holes. In particular that these guys had anything to do with that reverse split is bs.
They did not even agreed to be apart of the company until December 31 2018
So maybe that could happen. But saying it was recent is bs (July 18, 2018?!) and that they plan on doing it is BS
West Palm Beach, Fla., April 10, 2019 (GLOBE NEWSWIRE) -- Transportation and Logistics Systems, Inc. (f/k/a PetroTerra Corp.) (the "Company") (OTC:TLSS), a leading eCommerce fulfillment service provider, announced today that, effective with the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, John Mercadante and Douglas Cerny, both formally of Coach USA, have agreed to join to the Company as members of the Board of Directors. John Mercadante has also agreed to replace Steve Yariv as CEO and Chairman of the Company. John Mercadante was Coach USA’s President and Chief Operating Officer. John was an integral part of Coach USA’s IPO and growing that company’s annual revenues from approximately $100 million to over $1 billion in just three years. Doug Cerny is the former Senior Vice President and General Counsel of Coach USA, and worked closely with John Mercadante in building Coach USA to a billion dollar company. Steve Yariv has agreed to remain a member of the Board of Directors and President of the Company’s Save On Auto Transport subsidiary.
Separately, the Company is pleased to announce the elimination of nearly $1M of debt, preferred stock and common stock warrants in an effort to improve our balance sheet and tighten our capitalization table. The elimination of all warrants and preferred stock substantially reduced the amount of future share issuances. Future CEO and Chairman John Mercadante stated: “I am looking forward to taking the helm of this Company. Online retail is now the new mainstream commerce model and eCommerce fulfilment will continue to grow exponentially. Our Company’s existing platform and combination of competency, reliability and experience will help us build a stronger and much larger company and create shareholder value”.
Steve Yariv, current CEO of the Company stated, “We are excited to have John Mercadante and Doug Cerny join our management team. Their success in the transportation industry with Coach USA is well documented”.
Mr. Yariv added: “We are pleased that we were able to reach agreements with our debt holders to restructure and exchange their debt for common equity. We were also able to reach agreements with our preferred stock holders and all warrant holders to have these instruments exercised and exchanged for common stock. As we bring on new management and tighten our capitalization table we expect to be able to uplist to a national exchange later this year”.
https://www.globenewswire.com/news-release/2019/04/10/1802287/0/en/Transportation-and-Logistics-Systems-Secures-New-Management.html
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