Item 1.01 Entry into a Material Definitive Agreement.

Transportation and Logistics Systems, Inc. (OTC:TLSS), ("TLSS" or the "Company"), an eCommerce fulfillment service provider, announced that, on January 5, 2021, it entered into an stock purchase agreement ("Agreement"), and subject to the terms and conditions set forth in the Agreement and pursuant to an exemption from the registration requirements of Section 5 of the Securities Act contained in Section 4(a)(2) thereof and/or Rule 506(b) thereunder, the Company issued and sold units (the "Units"), each consisting of one share of Series E Convertible Preferred Stock, $0.001 par value (the "Series E Shares") and a warrant to purchase 1,334 shares of Common Stock, subject to adjustment, at an initial exercise price of $0.01 per share, at a purchase price of $11.67 per Unit. The Agreement provides for the sale of 12,851 Units at an original issue discount of 12.5%, raising $150,000 at closing, which occurred on January 7, 2021. The Company shall use the proceeds for working capital purposes.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits



Exhibit No.   Description



10.1            Stock Purchase Agreement, dated January 5, 2021, between TLSS and
              each purchaser identified on the signature pages thereto

+ Disclosure Schedules and other related Schedules and Exhibits (forms of closing documents) are omitted.

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