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Sunday, April 18, 2021

Transportation and Logistics Systems Inc (OTCMKTS: TLSS) Surges Up as Shypdirect, Prime EFS, and GRC Trucking Gain Traction

Transportation and Logistics Systems Inc (OTCMKTS: TLSS) has been moving steadily higher in recent trading and volume has been increasing steadily topping $700,000 per day in recent dollar volume. TLSS saw a spectacular rise to highs of $0.27 earlier this year and Investors are looking for a comeback to previous highs.

The Company is doing huge numbers; for the 9 months ended September 30, 2020 TLSS reported $23,503,000 in sales putting the Company on track to easily top $30 million in sales in 2020. The increase in sales was due to the Company’s expansion into new markets in Florida, Georgia, Ohio and Tennessee. securing new business, a full nine months of operations in its box-truck line of business. securing Payroll Protection Program loans which provided the funds needed to enable the Company to maintain its level of employed drivers to meet the increased delivery demand of its primary customer during the height of the COVID-19 pandemic.

Transportation and Logistics Systems Inc (OTCMKTS: TLSS) operating out of  Jupiter FL, as well as New Jersey is a provider of a wide range of transportation and logistics services involving the movement of goods and e-commerce fulfillment. The Company operates through its 2 subsidiaries, Prime EFS, LLC, a New Jersey-based transportation company with a focus on deliveries to the retail consumer for online retailers in New York, New Jersey and Pennsylvania and Shypdirect LLC, a transportation company with a focus on tractor trailer and box truck deliveries of product on the east coast of the United States from one distributor’s warehouse to another warehouse or from a distributor’s warehouse to the post office which are known as line-haul and “mid-mile” deliveries.  The Company owns or leases an aggregate of approximately 256 trucks or delivery vehicles and employed 588 drivers who worked in shifts that allowed us to utilize most of our transportation equipment on a 24/7 basis. GRC Trucking is also now a wholly-owned subsidiary of TLSS and adds 20 more drivers with 32 trucks total. More FedEx, UPS and USPS point deliveries.

Both Prime EFS and ShypDirect are providers of logistics services for FedEx and UPS, including “last-mile” deliveries to residential and business to post offices. These are both a wholly-owned subsidiary of publicly-traded company Transportation and Logistics Services, Inc., with 500+ staff and annual revenues currently topping $25 million. TLLS is led by CEO John Mercadante who 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. The Company submitted its 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 in August. Currently TLSS is “pink current”

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TLSS

TLLS is doing huge numbers; Revenue for the nine months ended September 30, 2020 increased $1,839,000, or 8.49%, to $23,503,000 as compared to $21,664,000 for same prior year period due primarily to: (i) the Company’s expansion into new markets in Florida, Georgia, Ohio and Tennessee that were not operational during the first and second quarters of 2019; (ii) securing new business; (iii) a full nine months of operations in its box-truck line of business that commenced in February 2019; and (iv) securing Payroll Protection Program loans which provided the funds needed to enable the Company to maintain its level of employed drivers to meet the increased delivery demand of its primary customer during the height of the COVID-19 pandemic; but which was partially offset by the reduction in Amazon DSP business during the third quarter, as discussed above.

In November TLSS entered into an asset purchase agreement to acquire substantially all of the assets and certain liabilities of Cougar Express, Inc., a New York-based full service logistics provider specializing in pickup, warehousing and delivery services in the tri-state area. The transaction is scheduled to close no later than January 15, 2021, subject to the completion of satisfactory due diligence by the Company and TLSS securing financing for the acquisition. According to CEO John Mercadante, “We are very excited about the prospect of joining forces with the Cougar Express team, a profitable, family-run business with a successful 30-year history, diversified and loyal customer base and stellar reputation. We believe that this is an ideal complement to our current business and provides opportunity for organic expansion.”

 

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TLSS has been moving steadily higher in recent trading and volume has been increasing steadily topping $700,000 per day in recent dollar volume. TLSS saw a spectacular rise to highs of $0.27 earlier this year and Investors are looking for a comeback to previous highs. The Company is doing huge numbers; for the 9 months ended September 30, 2020 TLSS reported $23,503,000 in sales putting the Company on track to easily top $30 million in sales in 2020. The increase in sales was due to the Company’s expansion into new markets in Florida, Georgia, Ohio and Tennessee. securing new business, a full nine months of operations in its box-truck line of business. securing Payroll Protection Program loans which provided the funds needed to enable the Company to maintain its level of employed drivers to meet the increased delivery demand of its primary customer during the height of the COVID-19 pandemic. 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. 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.

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