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TSNP - Financials & Reverse Merger Discussions

"TSNP Reverse Merger Discussions

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.""

Financials


Revenue for the three months ended June 30, 2011, was $170,131 compared to $80,314 for the
three months ended June 30, 2010, an increase of 111% or $89,817.

Revenue for the six months ended June 30, 2011, was $263,920 compared to $182,327 for the six
months ended June 30, 2010, an increase of $81,593.