Mercadante John JR bought TLSS
May 30, 2025 · Form 4 insider transaction
Mercadante John JR bought 17,348 shares of Transportation And Logistics Systems Inc, a transaction worth N/A. The trade was recorded as j and disclosed on an SEC Form 4, filed 45 days after the transaction.
Footnotes
Received pursuant to a settlement agreement between the Reporting Person and the Issuer, dated May 30, 2025, in exchange for the settlement of $1,734,807.54 in outstanding liabilities owed by the Issuer.; The Series J senior convertible preferred stock is convertible at any time, at the holder's election, at an initial conversion price of $0.001 per share of common stock and is perpetual and therefore has no expiration date. The Series J senior convertible preferred stock is subject to a contractual limitation such that the reporting person may not convert Series J senior convertible preferred stock to the extent that after giving effect to such conversion, the reporting person (together with its attribution parties as defined in the certificate of designations) would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion.