Recent Updates — TLSS
Transportation and Logistics Systems completed the acquisition of Patriot Glass Solutions (PGS) via a reverse triangular merger effective November 1, 2026. The company exchanged 47,500 shares of Series J Senior Convertible Preferred Stock for an 80% membership interest in PGS and four nanotechnology patents. Additionally, it issued 3,518 preferred shares to settle $226,000 in secured promissory notes and expense advances. Michael Wanke retained a 20% stake and was appointed CEO under a three-year employment agreement. The transaction ended the company's shell status.
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.
The company completed a 5,000-for-1 reverse stock split of its common shares on October 2, 2026. The action followed shareholder approval in August and the filing of a Certificate of Change with Nevada in September. Fractional shares were rounded up to whole shares rather than cashed out. Transportation and Logistics Systems operates as a holding company within the transportation and logistics sector.
Transportation and Logistics Systems, Inc. filed a Fourth Amendment to its acquisition agreement for Patriot Glass Solutions, LLC (PGS), extending the outside closing date from September 16, 2026, to October 1, 2026. The amendment also extends due diligence and financial statement delivery deadlines to September 25, 2026. The transaction involves a reverse triangular merger where TLSS acquires an 80% interest in PGS and four nanotechnology patents for $4,750,000 payable in Series J Senior Convertible Preferred Stock. This acquisition supports the company's strategy to expand into safety and security technology through strategic growth initiatives.
Transportation and Logistics Systems, Inc. entered into a Third Amendment to its acquisition agreement for Patriot Glass Solutions, LLC (PGS), extending the outside closing date from August 19, 2026, to September 16, 2026. The amendment also extends due diligence and financial statement delivery deadlines to August 25, 2026. The transaction involves a reverse triangular merger where TLSS acquires an 80% interest in PGS and four nanotechnology patents for $4,750,000, payable via 47,500 shares of Series J Senior Convertible Preferred Stock. Michael Wanke retains the remaining 20% stake and will enter into an employment agreement with PGS prior to closing. Transportation and Logistics Systems, Inc. operates as a holding company in the transportation and logistics systems industry.
Transportation and Logistics Systems, Inc. held a special meeting of stockholders on August 11, 2026, where shareholders approved an amendment to the Articles of Incorporation to effect a reverse stock split at a ratio of 5,000-for-1. The proposal received approximately 9.6 billion votes in favor against roughly 852 million opposed, representing about 61.8% of total voting power present. The split is contingent upon obtaining approval from the Financial Industry Regulatory Authority (FINRA) and filing a certificate of amendment with the Secretary of State of Nevada before becoming effective. Transportation and Logistics Systems, Inc. operates in the transportation and logistics systems industry.