Transportation and Logistics Systems Inc (TLSS)

[dimes2dollars]

Zardiw, thanks for this post. Great info!

I'm having a hard time believing the actual O/S is over 100m. Found this great article (good links in it to more knowledge too) from a corporate finance lawyer, and I've verified some of her points from other sources, too:

http://lawcast.com/2016/12/13/sec-cracks-down-on-failure-to-file-8-k-for-financing-activities-an-overview-of-form-8-k/

Here's my take; everyone, please take a stab at this and tell me if you think I'm wrong:

1:TLSS is a small category, Section 12 registered company.

2:The SEC requires filing an 8-K within 4 days with no extensions allowed (but are these business days or calendar days?)

3:Two of the required reasons to file an 8-K are when a small company foresees that the outstanding share count will grow by more than 5% (which TLSS has done by notifying of the conversions) AND once the actual cumulative conversions and issuances exceed 5% of the last reported share count, even if in multiple tranches (which TLSS hasn't done).

4: OTC still shows TLSS's O/S as 16.7m, even though other parts of their data was updated 5/1/20, and other companies show increased O/S as of their 5/1/20 updates.

To me, this means either TLSS is delinquent in their SEC filing (not likely; they've been on top of it so far, and being delinquent risks punishments and prevents them from doing certain actions) OR it means the O/S has not actually risen much previously, and the most it could have gone up prior to the last 4 days is 5% of 16.7m, or approx. 835k?

If so, where are these 100M+ O/S numbers coming from? Is the TA's tally including "counterfeit" shares that are created by large volume settlement delays (whether on short sales or not) such as Zardiw described?

I suspect each of these two runup/rundowns in the last couple weeks are manipulations of some sort to drive the price to a point where it makes sense to actually convert the shares (since it would be silly for all involved to dilute the existing O/S so badly by converting at such low prices).

If so, then our O/S isn't nearly as bad as we suspect because we've had tons of volume for much longer than 4 days now, but it also means we'll be bumping along the bottom longer until all those share DO get converted.

Thoughts?