TSNP - Tesoro Enterprises, Inc.
Tesoro Enterprises, Inc. ("TEI") is a publicly traded holding company that currently focuses on the delivery of construction materials for the commercial and residential market places.
TEI's retail flooring materials subsidiary, Fashion Floor Covering and Tile, Inc. markets and installs carpet, hardwood, vinyl and stone for internal and external applications. FFC&T operates two retail stores in lower Fairfield County Connecticut. Under a recently signed dealer agreement, Fashion Floors will be marketing fabricated stone fireplace facings, mantels and surrounds.
Floor covering materials are also marketed by The Fashion Floor Annex, Inc., the company's electronic market place subsidiary. The electronic channel features an online store that can be reached from this home page or directly by going to the company's e-commerce web site, www.stone-tile-showroom.com.
Apr 4, 2015 - Tesoro Enterprises, Inc posts annual financial report (posted to OTCMarkets) - "Revenue for the twelve month period ended December 31, 2014 was $390,779 compared to $319,488 for the twelve month period ended December 31, 2013, an increase of $71,291 or twenty-two percent. Company CEO, Henry Boucher, commented that while the net income was marginal, it was significant, as it is the first year the company has closed a year with a net profit."
May 15, 2015 - Quarterly report states "As of May 15, 2015, the free trading shares (public float) were 3,635,754,513."
Jun 19, 2015 - Tesoro Enterprises, Inc. signs Supplier Agreement (posted to OTCMarkets) - first mention of Wayfair
Jun 26, 2015 - Update of June 19, 2015 Press Release (posted to OTCMarkets) - Update from ceo about wayfair
Jul 20, 2015 - Tesoro Enterprises, Inc. Announces That It Has Gone Live on the Wayfair.com's eCommerce Site (first real PR) - 47 Products currently on Wayfair.com - 1500 SKU's heading to Wayfair in the coming months
Share Structure as of 5/15/15:
(unchanged for 4 years!)
Trade-able Float: 3,635,754,513
In the June 26th press release, the CEO wrote the update as a Q & A, here is one excerpt:
Q. Is there any share dilution occurring?
No, the company has not issued any new common shares or any convertible securities in over 4 years.
The issued and outstanding, except for share purchased back by the company for the treasury,
has not changed. Please review the filed financial statements on the OTCMarkets.com web site.
More background info from 5/15 financial report:
Through its wholly owned subsidiaries FFC&T and FFA, TEI markets and sells carpet, rugs, wood, ceramic and porcelain tile and natural stone materials for floor and wall covering. FFC&T sells and installs these products to retailand commercialcustomers, do-it –yourselfers and building contractors. Approximately 70% of FFC&T’s sales include installation labor. For twenty-five years prior to its acquisition by TEI, FFC&T operated out of a single location. In November 2011, the FFC&T opened a second retail location in Wilton, CT. This location became fully operational in December2014. On October 30,2013, the Company closed the original Wilton, CT store and now operates out of one location. The store servesthe surrounding counties of Westchester and Putnam, New York and Fairfield and Litchfield, Connecticut. Repeat customers include owners of multi-family rental homes, small apartment complexes and small commercial office buildings. The current mix of business is approximately 30% commercial and 70% residential.