Transportation and Logistics Systems, Inc. issued an unsecured non-convertible promissory note to Mercer Street Global Opportunity Fund LLC for a principal amount of $50,000 on October 23, 2026. The note bears simple interest at 10% per annum, with principal and accrued interest payable in cash on December 31, 2026. Proceeds are restricted to SEC filings, tax compliance, transfer agent costs, and routine litigation. Additionally, the company extended the maturity date of existing notes held by C/M Capital Master Fund LP to December 31, 2026. The company operates in transportation and logistics systems.
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