Transportation and Logistics Systems, Inc. laid-off its Chief Financial Officer Mr. Weiss termination was due principally to the Company?s having recently ceased all of its logistics and transportation operations and because the Company is insolvent and unable to meet its existing financial obligations. On March 1, 2024, the Board of Directors of the Company, acting by unanimous written consent, appointed Sebastian Giordano to the offices of Chief Financial Officer of the Corporation. Due to the Company?s current financial condition, Mr. Giordano has, since February 16, 2024, served in his capacity as Chief Executive Officer and as of March 1, 2024, also as Chief Financial Officer/Treasurer, without pay, and will continue to do so, for at least some period of time.