TLSS Closed Up 31.71% On
News Of Severance Trucking, Inc.,
Acquisition That Will Increase
Revenue To About $30 Million.
Transportation And Logistics Systems, Inc., (OTCMKTS PINK:TLSS) saw a close up 31.71% today, ending the day at $.0054, making it one of the strongest movers on the OTC Market for the day. Though no longer an active pick of ours, TLSS was previously a special pick that was released privately to our Platinum Members, that gained 194.33% for them in just two trading days.
Our first public write-up announcing TLSS as having been a pick alerted to our members can be viewed in this TLSS update.
Today, TLSS Announced Acquisition Of Severance Trucking, Inc., Which Will Reportedly Increase Their Annual Revenue To About $30 Million:
Today’s big growth action on TLSS came after the company filed a press release announcing that “on January 4th 2023, through its wholly-owned subsidiary, TLSS Acquisition, Inc., the Company entered into a stock purchase agreement ("SPA") to acquire 100% of the outstanding stock of Severance Trucking Inc. and related companies ("Severance"), a Massachusetts based trucking business offering an array of transportation services throughout New England, upstate New York and Canada.”
According to the press release, this acquisition is expected to increase Transportation And Logistics Systems., Inc., annual revenue to about $30,000,000 and is expected to close on January 31st 2023, pending necessary due diligence between each party.
This Is What TLSS Does:
As mentioned in the companies OTC Markets profile, “TLSS provides transportation and logistics services through its active operating subsidiaries, Cougar Express, Inc., JFK Cartage, Inc. and Freight Connections, Inc. Inactive subsidiaries include: Shyp CX, Inc., Shyp FX, Inc., TLSS-FC, Inc. and TLSS Acquisition Inc.”
The company is one of the rare examples of being a fully audited SEC filer, making it one of the most openly transparent companies on the OTC Market. As detailed in our penny stock trading tips section, it is a rarity for companies that trade as penny stocks on the OTC Market to be audited and even more of a rarity for them to be SEC filers because companies can opt for alternative filing methods that do not involve the heightened scrutiny of filing with the SEC. Companies trading on the OTC Markets are also not required to filed audited financials, allowing many to file their own internal numbers that have not been vetted by a third party, leaving investors to have to simply take their word as being true. The filing status of TLSS makes it more attractive to many traders due to that heightened transparency.
We will be keeping TLSS on watch for any further growth developments because this news today is definitely a major one for the company as it continues its aggressive expansion goals.
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