Update of June 19, 2015 Press Release
Jun 26, 2015
OTC Disclosure & News Service
Wilton, CT -
Tesoro Enterprises, Inc. (TSNP)
On June 26, 2015, the Company issued the following update to its press release of June 19, 2015 relating to its announcement regarding the Supplier Agreement signed with Wayfair LLC.
Subsequent to the signing of the agreement, the Company uploaded approximately 250 SKU’s, 25 individual items with their variations. Wayfair has indicated that it will take “two to three weeks to complete initial launch”.
The Company has received questions concerning the transaction from current share holders or other interested parties. Since the Company cannot answer these questions on a one to one basis, it has decided to publish the questions and answers here.
- Q. How long will it take to actually have product up on the Wayfair site(s)
- A. As quoted above, the company has delivered the first traunch of product data to Wayfair and has been informed that it will take two to three weeks to complete the initial launch. Subsequent to the initial launch, the company will have direct access to the site and will be in a daily update, add, change and delete relationship.
- Q. Does the company have any forecasts for volume resulting from the Supplier Agreement?
- A. Wayfair will provide volume forecasts once the initial launch is completed. ((Aside, what Wayfair ($3 billion revenue company) considers significant has a much different impact on TEI.))
- Q. Why not a broader Press release?
- A. We will do this once we have product up on the Wayfair site.
There have been other questions that have surface as part of this announcement. So we will add them to the list.
- Q. Is the company planning any sort of share restructure such as a reverse split or retirement?
- A. Not at this time.
- 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.
