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TSNP Announces June 30, 2015 Financial Report

Press Release: Tesoro Enterprises, Inc. Announces the Release of Six Month Ended June 30, 2015 Financial
4:01 PM ET 8/25/15 | Dow Jones
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Tesoro Enterprises, Inc. Announces the Release of Six Month Ended June 30, 2015 Financial Report

PR Newswire

WILTON, Conn., Aug. 25, 2015

WILTON, Conn., Aug. 25, 2015 /PRNewswire/ -- Tesoro Enterprises, Inc. (OTC: TSNP)("Tesoro", " Company") is pleased to announce that on August 14(h) , it released its six month ended June 30, 2015 financial report. The full report can be found on the OTC Market's web site, www.otcmarkets.com.

Net sales for the six months ended June 30, 2015 was approximately $159,000 compared to approximately $91,400 for the six months ended June 30, 2014 an increase of approximately $64,600. Net Operating Income for the six months ended June 30, 2015 was approximately $10,600 compared to approximately Net Operating Loss of ($16,600) for the six month ended June 30, 2014 an increase of approximately $27,200. Interest expense for the six months ended June 30, 2015 was approximately $27,700 compared to approximately $2,400 for the six months ended June 30, 2014 an increase of approximately $25,300.

Tesoro 's CEO, Henry Boucher stated that "the increase in interest cost was a result of the company's use of short term financing to support the expansion of two new lines of business, Wayfair and a Barter system. Wayfair sales require the company to carry receivable for up to 60 days and The Barter system requires the use of working capital to support the cost of goods associated with the sales". Both of these lines of business are expected to become self sustaining in the near future. Share holders continue to ask questions concerning the share structure and if the company is contemplating a reverse stock split. The company does not plan any changes to the share structure at this time.