Transportation and Logistics Systems Inc (OTCMKTS: TLSS) is making an explosive move up the charts after the stock made a significant reversal off the $0.02 mark. The stock is gaining traction after the Company announced it has recently submitted OTCQB application materials to OTC Markets Group, the operator of OTCMarkets.com, to start the process of up-listing from the OTC Pink Open Market to the OTCQB Venture Market.
The Company already meets two gating OTCQB Venture Market compliance requirements by filing audited annual financials prepared in accordance with U.S. GAAP by a PCAOB auditor and maintaining a verified company profile at OTCMarkets.com.
Transportation and Logistics Systems Inc (OTCMKTS: TLSS) operates as a leading logistics and transportation company specializing in eCommerce fulfillment, last mile, two-person home delivery and line haul services for the world’s leading online retailers through its wholly-owned operating subsidiaries, PrimeEFS, LLC and ShypDirect, LLC. Prime EFS is a leading logistics and transportation company that specializes in providing Last Mile, two-person Home Delivery and Line Haul services for some of the world’s leading online retailers. ShypDirect operates a fleet of GPS equipped Tractors, Box Trucks and Cargo Van offering delivery services for clients throughout the northeast United States. Both Prime EFS and ShypDirect are providers of logistics services for Amazon.com, FedEx and UPS, including “last-mile” deliveries to residential and business locations as well as deliveries between Amazon sort centers and deliveries from Amazon sort centers to post offices. TLSS CEO Mercadante is leading a restructuring effort which includes cleaning up the balance sheet, improving operating results to better position the Company for future growth, as well as up-listing to the OTCQB® Venture Market where the stock will be significantly more attractive to investors.
TLS has achieved tremendous sales growth; in 2019 revenues more than doubled during the year, reaching $32 million, compared to revenue of $18.1 million in 2018. These gains reflected the Company’s expansion into four new states and a large increase in volume from its primary customer, Amazon. 2019 was a big year for the Company as it increased its number of vehicles, drivers, and independent contract drivers. The Company opened several new locations in the States of Georgia, Florida, Ohio and Tennessee, during the months of October through December 2019, adding to its existing locations in New Jersey, New York and Pennsylvania. The Company operates in the booming transportation and logistics sector is an integral and growing part of the U.S. economy that has experienced significant growth since the country had emerged from recession. Over the ten years between 2008 and 2017, the industry has grown 12.7% and added 416,316 jobs.
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According to a recent 8k TLSS agreed to a settlement with Bellridge Capital, L.P. regarding the parties’ dispute as to obligations allegedly owed by the Company to Bellridge under an August 29, 2019 letter agreement. As of August 7, 2020, the outstanding balance owed to Bellridge is $457,753.42.
On August 7 TLSS announced it has recently submitted OTCQB application materials to OTC Markets Group, the operator of OTCMarkets.com, to start the process of up-listing from the OTC Pink Open Market to the OTCQB Venture Market.
On the recent application to up-list to the OTCQB Venture Market TLSS CEO John Mercadante, commented, “Up-listing to OTCQB is an important next step in management’s overall strategic plan to grow the Company and upgrade its position in the public markets. We believe that trading on the OTCQB could potentially increase TLSS’ visibility to the investment community, particularly to institutional investors, as the Company continues to bolster its position as a growing fulfillment service provider.”
$TLSS faucet to pay off debts turned off. Big Q2 earnings expected Friday. Big reversal has begun. PT $.13 ST
— CryptoNole (@RockNRollNole) August 10, 2020
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Currently running up the charts since reversing off $0.02, TLSS is an exciting story developing in small cap; the Company operates in the booming shipping and logistics market and has achieved tremendous sales growth; in 2019 revenues more than doubled during the year, reaching $32 million, compared to revenue of $18.1 million in 2018. In the latest quarter ended March 31, the Company achieved $8,635,060 in total sales. TLSS has serious management team behind it that knows what they are doing and is actively involved in seeking out capital investment partners. John Mercadante, Chairman and CEO of TLSS has led a restructuring effort which includes cleaning up the balance sheet, improving operating results to better position the Company for future growth, as well as up-listing to the OTCQB® Venture Market where the stock will be significantly more attractive to investors. TLSS just made a very significant reversal as Investors antiipte the earnings release on Friday. We will be updating on TLSS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TLSS.
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Disclosure: we hold no position in TLSS either long or short and we have not been compensated for this article.