Transportation and Logistics Systems Inc (TLSS)

[Tdl9586]

Our unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying unaudited consolidated financial statements, we had a net loss of $4,124,707 and $2,746,197 for the six months ended June 30, 2023 and 2022, respectively. The net cash used in operations was $1,331,374 and $1,818,604 for the six months ended June 30, 2023 and 2022, respectively. Additionally, we had an accumulated deficit and working capital deficit of $132,045,192 and $9,555,112, respectively, on June 30, 2023. These factors raise substantial doubt about our ability to continue as a going concern for a period of twelve months from the issuance date of this report.