Transportation and Logistics Systems Secures $50,000 Loan From Mercer Street Global Opportunity Fund
Bitget2026/10/27 20:52- Transportation and Logistics Systems issued a $50,000 unsecured non-convertible promissory note to Mercer Street Global Opportunity Fund on October 23, 2026.
- Funded the same day, the note bears 10% annual simple interest, with principal and accrued interest payable December 31, 2026.
- An October 22, 2026 agreement extended C/M Capital Master Fund's $75,000 and $100,000 promissory notes to December 31, 2026; other terms remain unchanged.
- The new note ranks equally with the existing notes; proceeds are restricted to regulatory filings, compliance restoration and specified professional costs.
- Defaults permit accelerated repayment; failure to pay within a 30-day period triggers a 5% monthly penalty on outstanding amounts, including unpaid interest.
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