Transportation and Logistics Systems amends USD 50,000 note with C/M Capital Master Fund, extends maturity to Sept. 30
TLSS•Use of proceeds and repayment terms
The company said the amended note restates a prior USD 50,000 note issued Aug. 25, 2025.
Proceeds are earmarked for SEC and OTC filings, compliance, and transfer agent costs.
The note may be prepaid without penalty with three business days’ notice. The lender may demand repayment on default with five business days’ notice.
If unpaid beyond a 30-day period, the default penalty is set at 5% per month above the 10% rate.
Amended note extended to Sept. 30, 2026
Transportation and Logistics Systems entered an amended and restated unsecured non-convertible promissory note for USD 50,000 with C/M Capital Master Fund.
The note carries 10% annual interest, accrues to maturity, and is now due Sept. 30, 2026.
