Transportation and Logistics Systems secures $50,000 loan from Mercer Street Global Opportunity Fund
TLSS•Transportation and Logistics Systems issued a $50,000 unsecured note to Mercer Street Global Opportunity Fund on October 23, 2026, bearing 10% annual simple interest and due December 31. The company also extended two existing notes, totaling $175,000, to that date.
1. Loan and note extensions
Transportation and Logistics Systems issued and received funding for a $50,000 unsecured, non-convertible promissory note from Mercer Street Global Opportunity Fund on October 23, 2026. The note bears 10% annual simple interest, with principal and accrued interest due December 31, 2026. An agreement dated October 22 extended C/M Capital Master Fund’s $75,000 and $100,000 notes to December 31; their other terms remain unchanged.
2. Repayment terms
The new note ranks equally with the existing notes, and its proceeds are restricted to regulatory filings, compliance restoration and specified professional costs. Defaults permit accelerated repayment; failure to pay within 30 days triggers a 5% monthly penalty on outstanding amounts, including unpaid interest.
