Transportation and Logistics Systems Inc (TLSS)

[SooS416]

No that is not what it means, look at it this way. The warrants were just the option to purchase shares around .005 that were a bonus attached to the debt, so they were basically free money

So $265k in debt and 194M shares

At .04 those 194M shares were worth $6.8M + the $265k debt for a total value of just over $7M

Now they get 221k preferred shares protected from a split that = 221M common shares

221M common shares at .04 = $8.9M

So all in all not a bad deal for them