HUMBL Inc (HMBL)

[leucro]

Company Releases preliminary estimate of First Quarter 2012 Financial performance

April 13, 2012
New Canaan, CT - Tesoro Enterprises, Inc. (TSNP:PK) today is releasing estimates of its first quarter 2012 financial performance. Net Sales for the three month ended March 31, 2012 were approximately $99,000 compared to $94,000 for the three months ended March 31, 2011. The increase of $5,000 for the three months ended March 31, 2012 over the three months ended March 31, 2011 represents a 5.2% Net Sales improvement. Tesoro's CEO, Henry J. Boucher, said he was pleased with the Net Sales figure for the first quarter for several reasons. First, the first quarter is the weakest quarter for the company due to the winter slow down in construction activity in the Northeast; second, the improvement for 2012 over 2011 represents a reversal of the decrease in Net sales for the same period from 2010 to 2011.

Mr. Boucher mentioned the recent conversion of debentures, leaving only $4,500 worth of Convertible Debentures on the books of the company, as a factor that should strengthen the up coming balance sheet. In addition, the the company continues reduce its operating expense, moving closer to profitability.

TSNP