TLSS to Issue Comprehensive Corporate Update after 10Q Filing
- None.
- None.
Chairman/CEO Report to Discuss Progress on 2023 Business Plan and Other Key Topics
JUPITER, FL / ACCESSWIRE / July 25, 2023 / Transportation and Logistics Systems, Inc. (OTC PINK:TLSS), ("TLSS" or the "Company"), the parent company of certain wholly-owned operating subsidiaries, which, together, provide a suite of logistics and transportation services, is pleased to announce today that, following its upcoming second quarter earnings release due in mid-August 2023, and subject to any other filing responsibilities and SEC restrictions, it will issue a separate comprehensive update on the Company, its current operations and ongoing strategic plans.
According to Chairman and CEO Sebastian Giordano, "Over the past year, we have been fully engaged in undertaking numerous initiatives on multiple fronts, both operationally and strategically. Although these generally take substantial time to develop, we believe that they will ultimately yield significant benefits to the Company. Without question, our primary goal remains to build shareholder value. Unfortunately, market recognition often lags performance, or is undermined by forces that the Company does not control, despite significant progress with the operating business and organic growth or acquisition opportunities in the works. While we publicly announce events only when they are formalized, we believe that providing stakeholders with a comprehensive update and deeper insight into the state of the Company and its plans than is set forth in the Company's required SEC filings, will assist all interested parties in having a proper foundation and full source of information for assessing our progress. I intend to release this update as soon as practicable following the filing of our Form 10-Q for the quarter ended June 30, 2023."
About Transportation and Logistics Systems, Inc.
TLSS is a publicly-traded holding company. Its wholly-owned operating subsidiaries, Cougar Express, Inc., Freight Connections, Inc., JFK Cartage, Inc. and Severance Trucking Co., Inc., together provide a full suite of logistics and transportation services. For more information, visit the Company's website, www.tlss-inc.com.
Forward-Looking Statements
Statements in this press release regarding the Company that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements, including, but not limited to, financial guidance, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not directly or exclusively relate to historical facts. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expects," "plans," "anticipates," "intend," "plan," "goal," "seek," "strategy," "future," "likely," "believes," "estimates," "projects," "forecasts," "predicts," "potential," or the negative of those terms, and similar expressions and comparable terminology. These include, but are not limited to, statements relating to future events or our future financial and operating results, plans, objectives, expectations, and intentions. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these expectations may not be achieved. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they represent our intentions, plans, expectations, assumptions, and beliefs about future events and are subject to known and unknown risks, uncertainties, and other factors outside of our control that could cause our actual results, performance, or achievement to differ materially from those expressed or implied by these forward-looking statements. In addition to the risks described above, these risks and uncertainties include: our ability to successfully execute our business strategies, including integration of acquisitions and the future acquisition of other businesses to grow our company; customers' cancellation on short notice of master service agreements from which we derive a significant portion of our revenue or our failure to renew such master service agreements on favorable terms or at all; our ability to attract and retain key personnel and skilled labor to meet the requirements of our labor-intensive business or labor difficulties which could have an effect on our ability to bid for and successfully complete contracts; the ultimate geographic spread, duration and severity of the coronavirus outbreak and the effectiveness of actions taken, or actions that may be taken, by governmental authorities to contain the outbreak or ameliorate its effects; our failure to compete effectively in our highly competitive industry could reduce the number of new contracts awarded to us or adversely affect our market share and harm our financial performance; our ability to adopt and master new technologies and adjust certain fixed costs and expenses to adapt to our industry's and customers' evolving demands; our history of losses, deficiency in working capital and a stockholders' deficit and our historical inability to achieve sustained profitability; material weaknesses in our internal control over financial reporting and our ability to maintain effective controls over financial reporting in the future; our substantial indebtedness could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations; the impact of new or changed laws, regulations or other industry standards that could adversely affect our ability to conduct our business; and changes in general market, economic and political conditions in the United States and global economies or financial markets, including those resulting from natural or man-made disasters.
These forward-looking statements represent our estimates and assumptions only as of the date of this release and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this letter. Given these uncertainties, you should not place undue reliance on these forward-looking statements and should consider various factors, including the risks described, among other places, in our most recent Annual Report on Form 10-K and in our Quarterly Reports on Form 10-Q, as well as any amendments thereto, filed with the Securities and Exchange Commission.
Investor Contact:
Email: info@tlss-inc.com
Phone: 1.833.764.1443
SOURCE: Transportation & Logistics Systems
View source version on accesswire.com:
https://www.accesswire.com/769982/TLSS-to-Issue-Comprehensive-Corporate-Update-after-10Q-Filing
FAQ
What is Transportation and Logistics Systems, Inc. (TLSS) planning to update after its second quarter earnings release?
Who is the Chairman and CEO of Transportation and Logistics Systems, Inc. (TLSS)?
When will the comprehensive update be released?
What is the primary goal of Transportation and Logistics Systems, Inc. (TLSS)?
