Welcome to our dedicated page for Transportation news (Ticker: TLSS), a resource for investors and traders seeking the latest updates and insights on Transportation stock.
Transportation and Logistics Systems, Inc. (TLSS) is a Nevada-incorporated, publicly traded holding company whose common stock is quoted on the OTC market under the symbol TLSS. Company disclosures, including its Form S-1 registration statement, state that TLSS ceased all remaining operations as of mid-February 2024. The TLSS news stream therefore provides context on the company’s historical logistics and transportation activities, as well as its more recent capital markets and corporate actions.
Earlier press releases focus on TLSS’s role as the parent of Cougar Express, Inc., Freight Connections, Inc., JFK Cartage, Inc. and Severance Trucking Co., Inc. These releases describe how the subsidiaries together offered a full suite of logistics and transportation services, including less-than-truckload (LTL), truckload (TL), cartage, airport and container freight station pickup and drayage, transloading, construction trade transportation, warehousing and distribution, pool distribution, final mile, TSA-certified services, white glove delivery and overnight regional service.
News items also summarize quarterly and annual financial results, highlighting revenue trends linked to acquisitions and detailing operating losses, net losses and management commentary on cost reductions, integration efforts and financing needs. Other announcements cover operational initiatives such as new regional overnight service, expanded coverage into New England with existing customers and partnerships for final mile delivery within TLSS’s coverage area.
More recent filings and announcements shift toward capital structure and regulatory developments, including settlement agreements that exchange outstanding liabilities for Series J Senior Convertible Preferred Stock, and the filing of an S-1 to register the resale of common shares issuable upon conversion of that preferred stock. Investors and researchers can use the TLSS news page as an archive of these historical business updates, financial disclosures and corporate transactions.
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Transportation and Logistics Systems, Inc. (TLSS) reported its 2022 annual financial results, showcasing a significant 40.9% revenue growth to $7,744,000, attributed to acquisitions made late in 2022. The company also achieved a remarkable 1,961% increase in gross profit margin, reaching 32.6%. However, TLSS faced a net loss of $8,076,000, primarily due to operational losses and a $2,100,000 impairment expense. CEO Sebastian Giordano highlighted ongoing strategic acquisitions and cost-saving initiatives, expressing optimism for 2023 as a potential breakout year following the recent acquisition of Severance Trucking. The company aims to refinance seller notes to support further growth.
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