Transportation & Logistics Systems amended and restated a $50,000 unsecured non-convertible promissory note with C/M Capital Master Fund, carrying 10% annual interest and now maturing on September 30, 2026. The company also entered an amended and restated letter agreement with the lender that confirms the use of proceeds, maintains parity with another outstanding note, and formalizes the new maturity. Proceeds will fund SEC and OTC filings, compliance restoration, transfer agent costs, and routine litigation. The note may be prepaid without penalty and includes customary default terms.
Agreement 1: Transportation & Logistics Systems Amends $50,000 Note at 10% Interest, Due Sep. 30, 2026
- Agreement type: Amended and restated unsecured non-convertible promissory note ($50,000, 10% interest)
- Counterparty: C/M Capital Master Fund
- Signed / Effective: Jul 16 2026 / same
- Duration / Termination: Until Sep 30 2026
- Reason: Fund SEC/OTC filings, compliance, transfer agent and routine litigation
Agreement 2: Transportation & Logistics Systems Restates Letter Agreement With C/M Capital, Confirms Use of Proceeds
- Agreement type: Amended and restated letter agreement (use of proceeds and note parity; maturity extension)
- Counterparty: C/M Capital Master Fund
- Signed / Effective: Jul 17 2026 / same
- Duration / Termination: Until Sep 30 2026
- Reason: Clarify proceeds use and align terms with existing lender note
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.