Transportation and Logistics Systems Inc (TLSS)

[Curacao]

I might also add to your thoughtful comment that there are many reasons for delaying a report - that is this important.

* Management, accounting, board members and auditors disagree and need to iron out their differences - Management wants to keep private discussions private. Auditors want to disclose everything anyone ever said or did - especially if it reflects badly. At least one board member has a hidden agenda and Accountants don't even know what the numbers mean.

* Auditors traditionally try to put the worst possible spin on everything to CYA and Accountants are afraid of Auditors

* Management has already front loaded expenses, which I'm sure auditors disagree with and they want to explain this in the new report. Management wants to just roll and not mention it so that it looks like they did it. This is not dishonest. This is how managers want their efforts to be seen.

* The first quarter is not the growth period. This was the re-organization period and re-organization gets ugly. This is where you walk out on negotiations, threaten to go bankrupt and basically try to scare everyone. This appears to be largely over now and they are moving on with new deals and mergers, etc. So, the 2nd quarter is where you are going to see results. Don't expect miracles in the first quarter. Management wants the two reports to come out close together...so they delay the first one.