New Canaan, CT - Tesoro Enterprises, Inc. (“TEI”) (TSNP:PK)  Announced today that their new E-Commerce site, http://stone-tile-showroom.com is now live.  Henry Boucher, President and Chief Executive Officer of Tesoro, stated, “The site, supported by an aggressive online marketing campaign, should allow Tesoro to tap into the $20 Billion national floor covering market beyond the geographical boundaries of its current retail store operations.  The online site will also allow the company to participate more broadly in the Do-It-Yourself (DIY) market for flooring materials.  TEI’s subsidiary, The Fashion Floor Annex, Inc., will operate the site.  In most cases, the manufacturer or distributor of the products sold on the site will ship directly to the customer.  He added that the DIY space is a growing segment of the industry and that the stone, tile and rug products, sold by the Company, are particularly well suited for the DIY customer.   In line with the slow and steady market recovery, our two retail stores have already experienced a 75% year over year revenue increase with projected revenue of $600,000 for the twelve months ended December 31, 2011.  The company plans to utilize the new revenue stream from our e-commerce site and any funds we may receive from private investors to fund the expansion of its retail store operations.  This year’s primary objective is to sustain our revenue growth rate and the new e-commerce site will be a major catalyst in helping achieve that goal”.

 

Forward- Looking Statements

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact information:

Tesoro Enterprises, Inc.

26 Cross Street

New Canaan, CT 06840

203/930-7427

New Canaan, CT - Tesoro Enterprises, Inc. today released estimates of forth quarter and annual revenues for the Year ending December 31, 2011.  Revenues for the twelve months ending December 31,2011 are estimated to be $600,000 compared to $342,000 for the twelve months ended December 31, 2010.  The increase of $258,000, for the twelve months ending December 31, 2011 over the same period of 2010, represents a 75% revenue improvement.

For the three months ended December 31, 2011 revenues are estimated to be $160,000 compared to $63,000 for the three months ended December 31, 2010.  The increase of $97,000 for the three months ending December 31, 2011 over the same period of 2010 represents a 154% revenue improvement.

Henry Boucher, Tesoro's CEO, said he is pleased that the company will finish the year with strong sales momentum for 2012.  The Company looks forward to continued growth, as the second location approaches its potential.

Forward- Looking Statements

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact information:

Tesoro Enterprises, Inc.

26 Cross Street

New Canaan, CT 06840

203/930-7427

New Canaan, CT - Tesoro Enterprises, Inc. (TSNP:PK) announced the publishing of its Third Quarter Financial Statements today.  CEO, Henry Boucher said that "Revenue growth continues to be strong with sales reaching $177,000 for the three months ended September 30, 2011 compared to $96,000 for the three month period ended September 30, 2010; an increase of $81,000 or 84%.  Revenue for the nine months ended September 30, 2011 was $441,000 compared to $278,000 for the nine months ended September 30, 2010; an increase of $163,000 or 59%".  Mr. Boucher also said that he considered the continuing reduction in convertible debentures to be another sign of the improving financial health of the company.

The complete financial statements are available on the OTC web site: www.otcmarkets.com, under the company symbol, TSNP:PK.

Forward- Looking Statements

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact information:

Tesoro Enterprises, Inc.

26 Cross Street

New Canaan, CT 06840

203/930-7427

 

New Canaan, CT- Tesoro Enterprises, Inc. (TSNP:PK) announced that the CEO, Henry Boucher, will respond to written and live shareholder questions in a chat room format.  Mr. Boucher will answer questions submitted in advance to his company e-mail address, (hjb@tesoroenterprises.us), and then open the chat for a live interaction with shareholders.  Mr. Boucher stated that the plan includes half hour sessions on Monday mornings (9:00 to 9:30), beginning on November 21st; and, thereafter, on a by-weekly basis. The chat will be hosted by Askblasters.com and a transcript of the program should be available on both the company's and Askblasters' site shortly after the conclusion of the session.

 

Forward- Looking Statements

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact information:

Tesoro Enterprises, Inc.

26 Cross Street

New Canaan, CT 06840

203/930-7427

Tesoro Enterprises, Inc. issues a clarification of its press release of November 2, 2011 relating to the "Share Reduction Program" ("Program").  The program, the Company is considering, does not contemplate a reverse split ("RS") of the Company's outstanding common stock. The Company CEO said that "A reverse split is not needed nor planned in the foreseeable future".

Forward- Looking Statements

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact information:

Tesoro Enterprises, Inc.

26 Cross Street

New Canaan, CT 06840

203/930-7427

 

New Canaan, CT- Tesoro Enterprises, Inc. ("TEI"), trading symbol TSNP, announced today the termination of its Reverse Merger ("RM") discussions with InPlays, Inc.  Henry J. Boucher, TEI's CEO said that while the transaction with InPlays had merit, it did not provide the best option for the shareholders of TEI.  Mr. Boucher cited the Company's revenue growth of its operating subsidiary, the upcoming release of its redesigned e-commerce web site and the potential to expand the retail operations as reasons to continue the strategy put forth by the company over the last two years.

Furthermore, Mr. Boucher is happy to inform the shareholders that TEI is in talks with private investors to receive non-toxic financing for its retail consortium expansion.  The financing could be used to push revenue into the million dollar range.  Many have worried about a possible RM and Management wishes to set shareholders at ease by stating that there is no RM needed or planned in the foreseeable future.  TEI is a fiscally conservative company and because operating capital has been limited, it has chosen not to issue press releases that do not address the underlying concerns for shareholders or properly express the direction of the company.  Lastly management is discussing a possible share retirement program in order to reduce the current share structure to facilitate shareholder return and better reflect fair market value.

Forward- Looking Statements

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact information:

Tesoro Enterprises, Inc.

26 Cross Street

New Canaan, CT 06840

203/930-7427

New Canaan, Ct - Tesoro Enterprises, Inc. today released estimates of third quarter 2011 revenues.  Revenues for the nine months ended September 30, 2011 are estimated to be $418,000 compared to $278,000 for the nine month period ended September 30, 2010.  The increase of $140,000, for the nine months ended September 30, 2011 over the same period in 2010, represents a 50% improvement.

For the three months ended September 30, 2011 revenues are estimated to be $146,000 compared to $96,000 for the three months ended September 30, 2010.  The increase of $50,000 for the three months ended September 30, 2011 over the same period in 2010, represents a 52% increase.

Henry Boucher, Tesoro's CEO, said that he believed that the continuing improvement in revenue is primarily due to the strengthening of demand in Tesoro's core business of home improvement and remodeling.

Forward- Looking Statements

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. and InPlays Sports Corp are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact information:

Tesoro Enterprises, Inc.

26 Cross Street

New Canaan, CT 06840

203/930-7427

New Canaan, CT – Tesoro Enterprises Inc (Trading Symbol: TSNP) today announced that it has signed a non-binding letter of intent (LOI) which contemplates a proposed reverse merger with InPlays Sports Corp. (InPlays), a privately held company specializing in online media and marketing targeting high school and college students.

Under the terms of the LOI, InPlays would acquire Tesoro Enterprises Inc., pursuant to the contemplated merger exchange agreement. Following the closing of the anticipated merger, InPlays would emerge as the surviving company with a name and symbol change to follow.  The merger is subject to a number of conditions, including the signing of a definitive merger agreement by November 7, 2011.

Commenting on the potential merger, InPlays CEO Andrew Barwicki stated: "After significantly growing our business over the past few years, I strongly believe that the next logical step in our corporate development is having our stock quoted for sale in a public market. The greater access to capital and overall visibility afforded by operating as a publicly-traded organization should play an instrumental role in our ability to expand both through acquisition and the organic growth of our existing business."

Mr. Barwicki concluded, "My due diligence to date reveals strong evidence that a potential reverse merger with Tesoro represents a solid opportunity to take the InPlays business model to the next level. I look forward to updating the public on our progress with regard to pursuing this agreement in the very near future."

Tesoro CEO Bud Boucher added, "I believe that a merger with InPlays Sports Corp is the best option for our company. Upon a definitive merger agreement being signed, the Fashion Floor Covering and Tile Inc. stores will be spun off into a private company."

 

About InPlays Sports Corp

InPlays Sports Corp. (www.inplays.com), an online media & marketing company, utilizes the popularity of professional sports to award college scholarships to students. InPlays currently has 762,000+ students, referred to as Members, that participate in a daily sports ticket by competing to win a college scholarship. The company generates its revenues from advertisers, the sale and auction of goods to its Members and ancillary revenue streams.

 

 

Forward- Looking Statements

Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. and InPlays Sports Corp are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.

Contact Information:
InPlays Sports Corp.
Andrew Barwicki
516-670-9083
andrew@inplays.com

Tesoro Enterprises Inc. Announces Initial Discussions Regarding Reverse Merger With InPlays Sports Corp.
Date : 07/07/2011 @ 10:30AM
http://ih.advfn.com/p.php?pid=nmona&article=48358868

Tesoro Enterprises Inc. (PINKSHEETS: TSNP) is pleased to provide a corporate update by announcing that the company has entered and continues discussions regarding a reverse merger with InPlays Sports Corp.

Henry Boucher, President and Chief Executive Officer of Tesoro, stated, "Although we are in the early stages of discussions and negotiations, we believe it is sensible to provide Tesoro shareholders with a corporate update and information regarding the future of the company. We are very pleased with Fashion Floor Covering and Tile Inc. operations and the growth we are experiencing at this time, but in an effort to maximize shareholder value we have entered into discussions with InPlays regarding a reverse merger."

InPlays Sports Corp. (www.inplays.com), an online media & marketing company, utilizes the popularity of professional sports to award college scholarships to students. InPlays currently has 762,000+ students, referred to as Members, that participate in a daily sports ticket by competing to win a college scholarship. The company generates its revenues from advertisers, the sale and auction of goods to its Members and ancillary revenue streams.

Andrew Barwicki, Founder and CEO of InPlays, commented, "I am very pleased to have entered into discussions with Henry in pursuing a reverse merger that I believe will increase shareholder value for Tesoro shareholders and provide InPlays shareholders with a public market for our stock. The success at InPlays is attributed to the market and need for advertisers to reach students in an uninterrupted manner. The Sports Ticket offered at InPlays.com allows for high school and college students to participate in a contest through a Free Entry in which they can win a college scholarship."

"Furthermore, our database of 672,000 Members allows advertisers to sponsor a Sports Ticket and advertise in the two emails we send our students every day. Large and small companies, advertisers, as well as many organizations throughout the globe are constantly seeking ways to market their products and services to students throughout the United States. I am pleased to announce that InPlays has developed a safe and reliable marketing medium that protects the privacy of all students, yet allows advertisers a direct way to advertise directly to students," continued Mr. Barwicki.

"Henry and I have scheduled a number of additional meetings over the next 2 weeks to continue our current negotiations and finalize a deal that we believe will be fair and beneficial to Tesoro and InPlays shareholders," concluded Andrew Barwicki.

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, our goals, plans and projections regarding our financial position, results of operations, market position, product development and business strategy. These statements may be identified by the use of words such as “will,” “may,” “estimate,” “expect,” “intend,” “plan,” “believe,” and other terms of similar meaning in connection with any discussion of future operating or financial performance or other events or developments. All forward-looking statements are based on management’s current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations.

Unless otherwise required by law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

New Canaan, CT - Tesoro Enterprises, Inc. (TEI) has announced the signing of an agreement to evaluate the potential acquisition of First Responder Products Group.  Tesoro Scientific, the division of TEI created to focus outside the current floor covering businesses, has located a company with significant emergency and fire service/first responder product experience that has completed the basic design for the next generation of breathing apparatus.  This apparatus should be able to provide significantly longer operating time and/or lighter weight.

TEI CEO Henry Boucher said that it is an important part of Tesoro's role as a holding company to be open to opportunities to enhance shareholder value and that FRPG is one of those opportunities.  However, he cautioned that the acquisition is subject to the completion of a definitive purchase and sale agreement that may or may not occur.

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, our goals, plans and projections regarding our financial position, results of operations, market position, product development and business strategy. These statements may be identified by the use of words such as “will,” “may,” “estimate,” “expect,” “intend,” “plan,” “believe,” and other terms of similar meaning in connection with any discussion of future operating or financial performance or other events or developments. All forward-looking statements are based on management’s current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations.

Unless otherwise required by law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

New Canaan, CT- Tesoro Enterprises, Inc. announced the signing of a license agreement for an internet based kiosk marketing system.  The kiosk system, including software and hardware, is built for the floor covering sales environment; and, the Company plans to use it in non-traditional floor covering stores customers, such as building material retail outlets.  Henry Boucher, TEI's CEO, stated that "This package is intended to enhance our subsidiary's, The Fashion Floor Annex, efforts to open a new channel of distribution".  The kiosk contains a powerful suite of front-end software; however, there is work to do on back-end fulfillment.  The company intends to tie the kiosk into its existing e-commerce site (easyhomeupgrade.com).   All purchases will be made and shipped through its existing retail stores.  Mr. Boucher further stated that "While we expect delivery of the kiosk and software on or about February 15th, the integration of the back-end fulfillment and testing will take four to six weeks.  During this time, the system will operate as a marketing tool within the existing retail store environment".  Following the integration phase , the company plans to select a beta site for the complete system and run tests for 90 days.  If successful, the company intends to roll out the package in the third quarter of 2011.

The company has hired a full time, experienced manage for its second store and moved the corporate office to this new location.  The new address for TEI is 26 Cross Street, New Cannan, CT 06840, phone 203/930-7427 and Fax 203/534-1453.

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, our goals, plans and projections regarding our financial position, results of operations, market position, product development and business strategy. These statements may be identified by the use of words such as “will,” “may,” “estimate,” “expect,” “intend,” “plan,” “believe,” and other terms of similar meaning in connection with any discussion of future operating or financial performance or other events or developments. All forward-looking statements are based on management’s current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations.

Unless otherwise required by law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

WESTPORT, CT. - Tesoro Enterprises, Inc. announced that its wholly owned subsidiary, Fashion Floor Covering & Tile, Inc. ("FFC&T"), has reached an agreement to open a second retail floor covering store. Company CEO, Henry Boucher said that "we have been looking for a second location that would be close enough to leverage off of the fine reputation of FFC&T for quality and service, but far enough away as not to cannibalize our current customer base".

The new location, which will open for business on or about November 15, 2010, will carry the same broad spectrum of product including carpet, wood, laminates, engineered wood and interior and exterior tile and natural stone.

Source

Tesoro Enterprises, Inc.

Investor Relations

Andrew Barwicki

516/662-9461 or andrew@barwicki.com

The Company's wholly owned subsidiary, Fashion Floor Covering & Tile, Inc. ("FFC&T"), announced the hiring of an outside sales person to expand its product sales effective August 30, 2010.  The goal of the new sales person is to increase sales to the traditional specifier of flooring and wall covering materials, including natural stone.  These specifiers include, architects, engineers, interior designers, builders and remodelers.  Henry J. Boucher, company CEO, said that he expected the sales person to be able to leverage off of the 50 year reputation of FFC&T for quality and reliable service.

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, our goals, plans and projections regarding our financial position, results of operations, market position, product development and business strategy. These statements may be identified by the use of words such as “will,” “may,” “estimate,” “expect,” “intend,” “plan,” “believe,” and other terms of similar meaning in connection with any discussion of future operating or financial performance or other events or developments. All forward-looking statements are based on management’s current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations.

Unless otherwise required by law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Source:

Tesoro Enterprises Inc

Investor Relations Contact
Andrew Barwicki
516-662-9461 or andrew@barwicki.com

 

WESTPORT, CT.  - Tesoro Enterprises, Inc. (TSNP) today announced that it has filed an amendment with the Secretary of State of Oklahoma to increase its authorized shares of common stock to 1.5 Billion (one billion five hundred million) from 500 Million (five hundred million) effective with the filing.  

 

Henry J. Boucher, Tesoro’s CEO, said that the increase will provide the company with flexibility to facilitate future corporate activity including raising capital and potential merger or acquisition opportunities.

 

 

About Us:  Tesoro Enterprises, Inc. was formed on November 12, 2010 through a reverse triangular merger that included Tesoro Distributors, Inc., formerly known as IWT Tesoro Corporation.  The result of this merger was that the shareholders of Tesoro Distributors, Inc. became the shareholders of Tesoro Enterprises, Inc. on a one for one basis.  Coincident with the merger Tesoro Enterprises, Inc. (Tesoro) acquired all of the outstanding shares of Fashion Floor Covering and Tile, Inc, a Connecticut corporation, in exchange for 500,000 shares of Tesoro.  Fashion Floor Covering and Tile, Inc. (FFC&T) is a 25 year old retail flooring and hard wall covering dealer and installer.    For a more detailed explanation of the effects of the transaction, interested parties are encouraged to visit our web site at www.tesoroenterprises.us or on the SEC web site at www.sec.gov. 

The Company plans to grow through the acquisition of other companies in the floor covering space, the expansion of product offerings and the development of its retail web site, www.easyhomeupgrade.com; the addition of a direct sales force focused on builders, designers and developers and the acquisition of  a manufacturing capability.  The ultimate goal is to create a vertically integrated set of companies.

 

Tesoro is currently raising capital to support the implementation of these plans. Please see our website for information concerning the current form “D” arrangement. 

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, our goals, plans and projections regarding our financial position, results of operations, market position, product development and business strategy. These statements may be identified by the use of words such as “will,” “may,” “estimate,” “expect,” “intend,” “plan,” “believe,” and other terms of similar meaning in connection with any discussion of future operating or financial performance or other events or developments. All forward-looking statements are based on management’s current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations.

Unless otherwise required by law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Source:

Tesoro Enterprises Inc

Investor Relations Contact
Andrew Barwicki
516-662-9461 or andrew@barwicki.com

Tesoro Enterprises, Inc.'s wholly owned subsidiary, Fashion Floor Covering & Tile, Inc. announced the signing of an agreement to distribute exterior natural stones.  The agreement covers facial and decorative thin stone, fireplace frames and paving stones for patios and pools.  Henry J. Boucher, Tesoro's CEO, said that the exclusive agreement expands the product offerings and customer base of Fashion Floor.

DME Capital LLC to Advise on Strategic Acquisitions and Business Alternatives

 

Westport, CT--May 19, 2010—Tesoro Enterprises, Inc. (Pink Sheets: TSNP), announced today that it has retained DME Capital LLC as the Company's exclusive advisor. DME will assist the Company in analyzing a wide range of strategic business alternatives, including acquisitions and expansion. The Company can give no assurance that a transaction of any kind will occur.

 

Henry Boucher, CEO of Tesoro, stated, “I look forward to working with DME to find the optimal scenario to maximize shareholder value. In choosing DME, we were very impressed with their reputation and positive track record, and we are confident that they will help us strategize the best course of action for Tesoro as we move forward.”

About DME

DME operations include DME Securities LLC & DME Capital LLC.

 

DME Securities is a licensed broker-dealer, Member Firm of the NYSE and FINRA. DME Securities raises capital for growth oriented public companies and handles trades for institutional investors.

 

DME Capital invests in public companies & issues unbiased BUY RECOMMENDATIONS to 910 institutional clients and 2,000+ retail clients. Unbiased meaning DME does not charge or accept any form of compensation (cash or stock) for their Buy Recommendations.

Additional information is available at www.dmecapital.com

 

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, our goals, plans and projections regarding our financial position, results of operations, market position, product development and business strategy. These statements may be identified by the use of words such as “will,” “may,” “estimate,” “expect,” “intend,” “plan,” “believe,” and other terms of similar meaning in connection with any discussion of future operating or financial performance or other events or developments. All forward-looking statements are based on management’s current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations.

Unless otherwise required by law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

 

Source: Tesoro Enterprises Inc

Investor Relations Contact
Andrew Barwicki
516-662-9461 or andrew@barwicki.com

TESORO ENTERPRISES ANNOUNCES TERMINATION OF ACQUISITION

 

April 7, 2010 / Tesoro Enterprises Inc. [TSRD.PK) announced that it will not proceed with the acquisition of a natural stone fabricator and wholesale/retail distributor as previously announced in a February 5, 2010 press release.

 

"Due to extensive due diligence conducted by our financial advisor, a leading investment banking firm, we do not feel that this acquisition will be in the best interests of Tesoro and its shareholders." said Tesoro’s CEO Henry Boucher. "We will continue to explore business opportunities, including but not limited to mergers and acquisitions, organic growth, as well as expansion into new markets and sectors.”

No consideration relating to the proposed acquisition had been paid at the time of this cancellation and this cancellation will not result in any "broken deal" or other payments by any of the parties involved.

 

On February 4, 2010, Tesoro Enterprises, Inc. ("Tesoro") announced the signing of a non-binding Letter of Intent ("LOI") to acquire a long standing natural stone fabricator and wholesale/retail distributor.  The acquisition is subject to due diligence, adequate financing, successful negotiation of a final price and the execution of definitive purchase and sale agreements.  Tesoro's CEO, Henry Boucher said "While there is still a lot of work to do, we are excited about the opportunity and look forward to successfully completing this transaction; however, there is no guarantee that we will reach a mutually acceptable price nor that the financing will be available at a rate acceptable to Tesoro".

In addition to the operations of the target company, the acquisition would include land, buildings and equipment.  Tesoro believes that the acquisition will add revenue, broaden the product base and expand the geographical coverage of its current operations.  The target company has a long track record of stable revenue and positive EBITDA.

Some statements made in this press release are "forward-looking" and are not historical facts.  For example, statements regarding financial position, our business strategy and other plans and objectives for future operations, and assumptions and predictions about future demand for our services and products, costs, marketing and pricing factors are all forward-looking statements.  When we use words "intend", "would", "anticipate", "believe", "estimate", "plan" or "expect" or the negatives of these words and similar expressions, we are making forward-looking statements.  You should be aware that these forward-looking are subject to risks and uncertainties.  Additionally, our forward-looking statements speak only as of the date of this report or release.  Other than as required by law, we undertake no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.  New factors emerge from time to time that may cause our business not to develop as we expect, and it is not possible for us to predict all of them.  Factors that may cause our actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements included, among other things are changes are changes in the industry, energy costs, timing and level of capital expenditures and introduction of new products.

Tesoro Distributors, Inc. (TSRD:PK) entered into a statutory “A” reorganization whereby Tesoro effectuated a reverse triangular merger pursuant to Section 1081 of the Oklahoma  statutes, the effect of which was that Tesoro’s shareholders became shareholders of a new corporation called Tesoro Enterprises, Inc. (“TEI”).

Immediately following the merger, Tesoro Enterprises entered in a share exchange agreement with Fashion Floor Covering and Tile, Inc., a Connecticut Corporation, whereby the sole stockholder of Fashion Floor received 500,000 shares of TEI restricted shares of common stock in exchange for all the outstanding shares of Fashion Floor.  Fashion Floor is a full line; wood, carpet and tile retail dealer and installer of floor and wall covering materials.  Fashion Floor has been in business for over twenty years under the same ownership and management.  A majority of Fashion Floor's sales are through home improvement contractors and new home builders with the remainder sold directly to the end user.  Nearly half of the sales are to commercial customers, including apartment complexes and small office managers.  Installation services are included in a majority of the sales.   Fashion Floor Covering and Tile Inc revenues for the past several years have been flat at approximately $550,000 and the company has sustained small loses during this period. TSRD management believes the flat sales during the past recession indicate the strength of the Fashion Floors products, services, and repeat customers and customer satisfaction levels.  Additional information concerning the company is available on our website at www.tesorodistributors.com or by contacting us at 191 Post Road West, Westport, CT06880.  Investor Relations Andrew Barwicki 516-662-9461 or andrew@barwicki.com

Tesoro Distributors, Inc. announced that it has entered into an agreement in principal to acquire a regional floor covering dealer in the north east, United States.  While there is no guarantee that the transaction will be completed, both parties expect a successful culmination.  If all due diligence can be completed in a timely manner, the parties anticipate a closing on or about November 1, 2009.  Tesoro's President, Henry J. Boucher said; "The acquisition, if completed, of this established business would add a broader suite of products to our mix, some of which we plan to migrate to our web sales site on www.easyhomeupgrade.com, add installation services and increase direct sales to builders and remodelers.  We expect to add a consistent source of revenue to our company".

Some statements made in this press release are "forward-looking" and are not historical facts.  For example, statements regarding financial position, our business strategy and other plans and objectives for future operations, and assumptions and predictions about future demand for our services and products, costs, marketing and pricing factors are all forward-looking statements.  When we use words "intend", "would", "anticipate", "believe", "estimate", "plan" or "expect" or the negatives of these words and similar expressions, we are making forward-looking statements.  You should be aware that these forward-looking are subject to risks and uncertainties.  Additionally, our forward-looking statements speak only as of the date of this report or release.  Other than as required by law, we undertake no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.  New factors emerge from time to time that may cause our business not to develop as we expect, and it is not possible for us to predict all of them.  Factors that may cause our actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements included, among other things are changes are changes in the industry, energy costs, timing and level of capital expenditures and introduction of new products.

Tesoro Distributors, Inc. announced that they have engaged a national investor relations firm to assist with the dissemination of company data, activities and public information. "Our investors have been asking for us to provide more information about the company's activities for some time" said Tesoro's President, Henry Boucher.  He added that "We believe that this arrangement will meet our shareholders' desire for current information."

Tesoro Distributors, Inc. posts financial data for the six-months period ended June 30, 2009. Tesoro's attorney issues opinion on the currency of information and company's status on pinksheets.com is increased to "Current Information" status.

Home Treasures Inc., a subsidiary of Tesoro Distributors, Inc. (TSRD/PK) (formerly IWT Tesoro Corporation) announced that it had completed an agreement to represent a manufacturer of marble building materials.  The products will include fireplace facings, door and window surrounds, fountains, stairway treads and bulusters and colums.  This relationship will also add washbasins, sinks and additional natural stone tiles to HomeTreasures product suite.  These new products will be available through the company's web site at www.easyhomeupgrade.com.   Henry J. Boucher, the company's president said "The addition of these fine stone products moves the company closer to its goal of providing a full suite of stone products to enhance and beautify the residential and commerical investments of our customers

Home Treasures, Inc., a subsidiary of Tesoro Distributors, Inc., announced today the activation of its web site, www.easyhomeupgrade.com.   Home Treasures, Inc. sells natural stone and porcelain building materials through the internet.  The site currently contains approximately 130 products that range from floor and wall coverings to decorative accents.  Future products are planned to include marble door and window surrounds, fireplaces, columns, balusters, fountains and washbowls and sinks.  Customers can purchase products on line using Google Checkout, a trusted name in the internet.

On June 16, 2009, Tesoro Distributors, Inc. received notice from the OTC corporate actions division of FINRA that its trading symbol has been changed to "TSRD", effective at the open of business on June 17, 2009. The change in symbol follows its corporate name change from IWT Tesoro Corporation to its current name of Tesoro Distributors, Inc. The Company's current stockholders will not to take any actions with respect to the name change or symbol change.

Home Treasures, Inc., a subsidiary of Tesoro Distributors, Inc., signed a dealer agreement with a major wholesale importer of hard floor and wall covering materials.  Home Treasures will carry a full range of porcelain and natural stone products on its soon to be activated website at www.easyhomeupgrade.com.

Tesoro Distributors Corporation formed a new operating subsidiary, Home Treasures, Inc.  Home Treasures Inc., an Oklahoma Company, will sell permanent and semi-permanent home improvement products through the internet.

On March 10, 2009, IWT Tesoro Corporation (IWTT/PK) changed its name to Tesoro Distributors, Inc. and reincorporated as an Oklahoma corporation.  Currently, its shares continue to trade under the symbol IWTT/PK.

The purpose of this Information Statement is to inform the holders of record, as of the close of business on February 5, 2009 (the "Record Date"), of shares of common stock, par value $0.001 per share (the "Common Stock") of IWT Tesoro Corporation, a Nevada corporation ("the Company" or "Tesoro"), that our Board of Directors and holders of approximately 90% of our capital stock as of the Record Date have given written consent as of February 5, 2009, to the following proposals:

1. Reincorporate as an Oklahoma corporation;
2. Change our name to Tesoro Distributors, Inc.;
3. Change our fiscal year end to March 31 when and if our Board of Directors deems appropriate;
4. Permit our Directors to amend the Company’s articles and bylaws; and
5. Conform the Company’s articles to opt out of the provisions of Oklahoma law relating to “Control Share” acquisitions and “Business Combinations with Interested Stockholders”.

IWT Tesoro Corporation posts updated information on PinkSheets.com, moves up to "Limited Information" status.

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