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.