Transportation and Logistics Systems Inc (TLSS)

[cjstocksup]

TLSS

The company received $2,941,212.50 under Small Business Administration on April 15,2020
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Item 1.01 Entry Into a Material Definitive Agreement



"On April 8, 2020, Prime EFS, LLC (“Borrower”), a wholly owned subsidiary of Transportation and Logistics Systems, Inc. (the “Company”), applied to M&T Bank (“Lender”) under the Small Business Administration (the “SBA”) Paycheck Protection Program of the Coronavirus Aid, Relief and Economic Security Act of 2020 (the “CARES Act”) for a loan of $2,941,212.50 (the “Loan”). On April 15, 2020, the Loan was approved and Borrower received the Loan proceeds on April 22, 2020, which Borrower plans to use for covered payroll costs, rent and utilities in accordance with the relevant terms and conditions of the CARES Act."

I dont think we see dilution, the company has enough money, besides that sum, there is the money given to them by Amazon.