Transportation and Logistics Systems Inc (TLSS)

[JACKPOT]

Mr. Sebastian Giordano, Chairman and Chief Executive Officer of TLSS, stated, "While this 10-Q obviously does not yet reflect the full impact of the Company's recent acquisitions of JFK Cartage and Freight Connections, since they were both acquired in the latter part of the quarter, the Company continues to make substantive progress, both financially and in our growth preparedness. Fiscally, with a 41% increase in quarter-over-quarter revenue, the results for the third quarter clearly demonstrated that our operations are headed in the right direction, especially as gross profit margins for the same comparable three months, increased 1,490%, from 2.4% in 2021 to 27.3% in 2022. With current annualized projected run-rate revenues of approximately $16 million from our existing operations, I believe that this improving trend in gross profit margin bodes well for getting us to one of our most important objectives this year and as we head into 2023.