Series R-1: a secured note on working delivery routes
Your capital buys routes from partner contractors. You earn 18.2% a year, paid every quarter, secured by the routes, their cash flow, the fleet, the facility and bank deposits. Exit is a redemption at par in the quarterly window.
Your access
What secures your tokens
Every asset in the pool is a registry record with its own valuation and documents. Each route bought with R-1 is added when the purchase closes, so the pool grows with the raise.
Collateral register
| Asset | Detail | Value | Last valued |
|---|---|---|---|
| Route contracts | 12 owned, Fort Wayne and Toledo terminals | $7,000,000 | Jun 2026 |
| Vehicles | 20 step vans and tractors | $1,200,000 | Jun 2026 |
| Office and cross-docking station | Fort Wayne, IN | $500,000 | Jun 2026 |
| Bank security deposits | Held at the company's bank | $300,000 | Sep 2026 |
| Collateral pool | 3.2x the tokens issued | $9,000,000 |
Routes owned
| Route | Terminal | Type | Stops / day | TTM revenue | Status |
|---|---|---|---|---|---|
| RT-FWA-114 | FWAFort Wayne, IN | P&D | 128 | $412,000 | active |
| RT-FWA-118 | FWAFort Wayne, IN | P&D | 141 | $448,500 | active |
| RT-FWA-122 | FWAFort Wayne, IN | Linehaul | — | $706,200 | active |
| RT-TOL-207 | TOLToledo, OH | P&D | 117 | $389,400 | active |
| RT-TOL-211 | TOLToledo, OH | Linehaul | — | $664,900 | contract renewal |
| + 7 more | — | — | — | $3,778,000 | in registry |
Acquisitions in progress
| Target | Type | Area | Asking price | TTM revenue | Stage |
|---|---|---|---|---|---|
| ACQ-2026-01 | P&D | Fort Wayne, IN | $410,000 | $520,000 | diligence |
| ACQ-2026-02 | Linehaul | Toledo, OH | $690,000 | $880,000 | diligence |
| + 3 more | — | Lima, Findlay, Fort Wayne | — | — | sourced |
A route joins the collateral pool on closing, at its appraised value. Asking prices and revenue come from the sellers' settlement statements.
Token terms
Subscribe
Subscription confirmed
The subscription record and the on-chain balance are written in one sequence. If the transfer fails the subscription stays unallocated and appears in the operator's exceptions queue, rather than silently diverging from the ledger.
Portfolio
Holding
| Series | Secured by | Tokens | Share | Quarterly interest | Status |
|---|---|---|---|---|---|
| TRMS-R1 | Collateral pool, $9.00M | 25,000 | 0.417% | $1,138 | settled |
Activity
| Date | Event | Amount | Reference |
|---|---|---|---|
| 15 Jul 2026 | Coupon · Q2 2026 | +$1,137.50 | CPN-2026Q2 |
| 15 Apr 2026 | Coupon · Q1 2026 | +$1,137.50 | CPN-2026Q1 |
| 05 Jan 2026 | Allocation · 25,000 TRMS-R1 | — | 0x91c4…77aa |
| 05 Jan 2026 | Deposit · USDC | $25,000.00 | 0xa7b2…41de |
Interest payments
18.2% a year, paid each quarter at $0.0455 per token on balances at the record date, to whitelisted wallets. A run executed twice pays once.
| Period | Record date | Paid on | Per token | Your coupon | Status |
|---|---|---|---|---|---|
| Q3 2026 | 30 Sep 2026 | 15 Oct 2026 | $0.045500 | $1,137.50 | scheduled |
| Q2 2026 | 30 Jun 2026 | 15 Jul 2026 | $0.045500 | $1,137.50 | paid |
| Q1 2026 | 31 Mar 2026 | 15 Apr 2026 | $0.045500 | $1,137.50 | paid |
Q3 2026 cash flow
The coupon is paid before Tremis keeps anything. This quarter, cash after costs and debt covered it 2.1 times.
Request an exit
TRMS-R1 is permissioned and does not trade on an open market. Exit is a redemption at par: Tremis buys the tokens back at $1.00 each and burns them. Requests are filled in order from the quarter's redemption pool.
Request EXR-2026-0144 submitted
Why not an order book
Transfers are restricted to whitelisted, eligible investors, so a public market is not possible by construction. Redemption at par gives holders a defined way out without a licensed venue. A true secondary market runs through a regulated ATS and sits in a later phase.