News company was formed on November 12, 2010i think 2009?
Company Increases Authorized shares of Common Stock
June 25,2010
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
