Transportation & Logistics Systems Approves 5,000-for-1 Reverse Stock Split

What Happened

• Transportation & Logistics Systems, Inc. filed an 8-K disclosing that at a virtual special meeting on August 11, 2026, stockholders approved an amendment to the company’s articles to effect a 5,000-for-1 reverse stock split. The company held the record date for the meeting as June 11, 2026.

Key Details

• Shares and voting: As of the June 11 record date there were 5,889,437,474 shares of common stock and 110,424 shares of Series J preferred (each Series J share carries 100,000 votes), for a total of 16,931,837,474 votes entitled to be cast.
• Quorum and turnout: 10,463,994,393 votes were represented (≈61.80% of voting power), which constituted a quorum.
• Vote on reverse split (Proposal 1): For 9,610,239,283; Against 852,596,155; Abstain 1,158,955; Broker non-votes 0.
• Adjournment authorization (Proposal 2): For 9,600,169,766; Against 847,018,793; Abstain 16,805,834.
• Next steps: The reverse split will not be effective until the company obtains FINRA approval for processing and files a certificate of amendment with the Nevada Secretary of State.

Why It Matters

• A reverse stock split reduces the number of outstanding shares (here 5,000-for-1), which typically increases the per-share price and can help meet listing or market-perception thresholds. Investors should note the split is approved by shareholders but remains contingent on FINRA clearance and the formal amendment filing before it takes effect.