Saturday, September 25, 2021

TRANSPORTATION & LOGISTICS SYSTEMS, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

Transportation and Logistics Systems, Inc. (OTC:TLSS), (“TLSS” or the
“Company”), an eCommerce fulfillment service provider, announced that, on
December 28, 2020, it entered into an stock purchase agreement (“Agreement”),
and subject to the terms and conditions set forth in the Agreement and pursuant
to an exemption from the registration requirements of Section 5 of the
Securities Act contained in Section 4(a)(2) thereof and/or Rule 506(b)
thereunder, the Company issued and sold units (the “Units”), each consisting of
one share of Series E Convertible Preferred Stock, $0.001 par value (the “Series
E Shares”) and a warrant to purchase 1,334 shares of Common Stock, subject to
adjustment, at an initial exercise price of $0.01 per share, at a purchase price
of $11.67 per Unit. The Agreement provides for the sale of 40,266 Units at an
original issue discount of 15%, raising $470,000 at its initial closing, which
occurred on December 28, 2020. The Company shall use the proceeds for working
capital purposes.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.   Description

10.1            Stock Purchase Agreement, dated December 28, 2020, between TLSS
              and each purchaser identified on the signature pages hereto

+ Some Disclosure Schedules and other related Schedules and Exhibits (forms of
closing documents) are omitted.

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