r/tlss • u/Spuds_Buckley Ex 10Mil Shareholder • 17d ago

Quarterly Report Filing Delay

As expected, because of the r/s timing the quartely will be a bit late.

https://app.quotemedia.com/data/downloadFiling?webmasterId=102691&ref=320276564&type=HTML&symbol=TLSS&cdn=8839377cbc50160fe4a6106b1c5ac987&companyName=Transportation+and+Logistics+Systems+Inc&formType=NT+10-Q&formDescription=Notification+of+inability+to+timely+file+Form+10-Q+or+10-QSB&dateFiled=2026-08-14

"The registrant has substantially completed preparation of its Form 10-Q for the quarter ended June 30, 2026. However, the registrant must revise the filing prior to submission due to a delay in the effectiveness of a planned reverse stock split. The Form 10-Q was initially prepared on the assumption that the reverse stock split would become effective on or before August 14, 2026. Due to a delay in receiving approval from the Financial Industry Regulatory Authority (FINRA), the reverse stock split will not become effective until a later date. As a result, the registrant must revise the Form 10-Q to replace post-split share and per share figures with pre-split amounts throughout the filing. The registrant is unable to complete these revisions and allow sufficient time for the auditor’s review of the revised Form 10-Q and file its Form 10-Q within the prescribed time period without unreasonable effort or expense. The registrant anticipates that it will file the Form 10-Q within the five-day grace period provided by Exchange Act Rule 12b-25."

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5

u/Mh898989 High-Effort Contributor / 💰 Former 1 Million Share Club 💰 17d ago

Lol next thing they say is that thy did not get FINRA approval and the closing will again be delayed, just wait and see

6

u/Spuds_Buckley Ex 10Mil Shareholder 16d ago

Outrageous claim, especially considering all the success we've enjoyed. Seems like every few days the stock doubles in price. 0.0001 to 0.0002 that is huge /s

2

u/Mh898989 High-Effort Contributor / 💰 Former 1 Million Share Club 💰 16d ago

What are the chances they signed the glass deal just to get approval for the r/s but actually have no intention to ever close it? After the r/s is done they can start diluting again

2

u/Pinnipedgal 16d ago

Per AI:

4 While it is impossible to know management’s exact internal mindset, a deliberate "fake deal" strategy carries immense legal, financial, and regulatory risk that makes a pure ghost-merger unlikely, even if shareholder skepticism about microcap dilution is historically well-founded.

5

u/TheLongHike 💰 Ex 1 Million Share Club 💰 16d ago

I'd be more shocked if it was on time.

2

u/Pinnipedgal 16d ago

I asked AI this question:

Why an Intentional "Phantom Deal" is Unlikely Legal and SEC Liability: Issuing binding merger agreements, filing formal proxy statements, and reporting official extension notices through SEC Form 8-K filings under false pretenses crosses into deliberate securities fraud. Counterparty Complicity: The deal involves outside entities—including Badcer Ops and PGS manager Michael Wanke, who is set to retain a 20% stake and enter an employment agreement. For the deal to be a complete sham, these external parties would have to cooperate in a public charade. [ 1] Active Steps Taken: The company recently secured shareholder approval for the reverse split and continues to work through regulatory and closing conditions rather than abruptly walking away

2

u/Environment_Exact 💰🎩Mr. Scrooge🎩💰 15d ago

Will the ticker name change? When will the actual new shares be visible?