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Tesoro Enterprises, Inc. (OTCMKTS: TSNP) HUMBL; the Parabolic Run

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Tesoro Enterprises, Inc. (OTCMKTS: TSNP) is in full beast mode once again rocketing up the charts towards its intra-day highs of $0.243 since a brief dip earlier in the week. TSNP is now closing in on $0.243 highs and price to beat, a break over and its confirmation of another massive leg up. On Friday TSNP traded 183.9 million shares or about $385 million in dollar volume; these are massive numbers for OTC. Microcapdaily first reported on TSNP when the stock was $0.003.

TSNP has become the biggest runner in small caps since the Company announced the merger with HUMBL; a major mobile payments provider that works with Merchants, Governments, Banks who are looking to digitalize some of their offerings. The Company has major bakers behind it and a world class management team consisting of members from Company’s such as Visa, Epson, MoneyGram, American Express, and Qualcomm. HUMBL is working on Fortune 500 partnerships and was featured by the UN 2030 agenda as well as being recently named a Forbes “Rising Startups to Watch” in June 2020 for recognizing the “major gap between the US and emerging markets regarding mobile payments.” Outgoing CEO Henry Boucher paid off liabilities in full prior to his departure leaving TSNP debt free with new CEO Brian Foote stating OS will not increase for the remainder of 2020.

Tesoro Enterprises, Inc. (OTCMKTS: TSNP) operating out of Oklahoma City, Oklahoma has never been a shell and was incorporated in 2009. At that time the Company was called Fashion Floor Covering and Tile, Inc. FFC&T and was an installer of wall covering materials and flooring such including wood, tile and carpet. In prior incarnations the Company was called Tesoro Distributors, Inc. and then changed their name to Tesoro Enterprises, Inc. in March 2020. Along with the name change in March 2020 the Company came out of dormancy in summer 2020 when Tesoro began making OTCmarket filings for the previous two years and filed its 10Q and 10K on October 27, 2020. This was followed by the attorney’s letter and TSNP up-listed its shares to pink current with filings up to date on OTCMarkets Group. TSNP has an investor call tentatively scheduled for December 9, 2020 to introduce HUMBL to investors and shareholders.

On November 6 TSNP entered into a binding purchase and sale agreement between two current shareholders and on November 12 the Company announced the agreement with HUMBL to merge the two entities. In an all-stock transaction. Tesoro, the surviving entity, will be renamed “HUMBL, Inc.” and following an imminent re-domiciling of the corporation to Delaware, an application will be filed with the Financial Industry Regulatory Authority (“FINRA”) for a change of the issuer’s name and symbol. The merger is being shepherded by George Sharp; a well-known OTC Markets analyst, who brought the parties together. Mr. Sharp is a Reverse Merger whizz known for doing it right.

Consummate with the transaction, HUMBL, Managing Member and Founder, Brian M. Foote, has acquired the control block of voting shares from outgoing Tesoro President, Henry Boucher.  Adam Wolfe has been named Chief Technology Officer, Michele Rivera has been named Vice President, Global Partnerships, and a director and Karen Garcia has been named Vice President, Major Accounts.

CEO Brian Foote recently converted over 318 million shares recently purchased by him out of the retail market to a new class of Preferred shares. Mr. Foote also retired 551.6 million shares. Upon completion of the conversion, Tesoro’s issued and outstanding number of common shares will have been reduced by over 860 million shares since Mr. Foote became President of Tesoro. The company does not anticipate that the number of common shares outstanding will increase during the remainder of 2020 and throughout 2021. With their filings up to date and the outgoing President Boucher paying off all Company debt prior to his resignation TSNP has announced its intention of immediately beginning the process for becoming an SEC filer and provide audited annual financials beginning with yearend 2020.

HUMBL PAY works with Merchants, Governments, Banks and Merchants who are looking to digitalize some of their offerings. The Company has major bakers behind it and a world class management team consisting of members from Company’s such as Visa, Epson, MoneyGram, American Express, Facebook, Microsoft and Qualcomm. HUMBL was recently named a Forbes “Rising Startups to Watch” in June 2020 for recognizing the “major gap between the US and emerging markets regarding mobile payments.”

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TSNP

The mission of HUMBL® and HUMBL Hubs™ is to deliver high quality, low cost digital payments and financial services. The HUMBL network was designed to support vertical markets such as government, banking, wireless and merchants in locations like Latin America, Caribbean, Asia and Africa who are seeking to migrate to digital payment and financial technologies, to help reduce costs and improve settlement speeds for customers. The HUMBL® Mobile App delivers borderless transactions, by integrating multiple currencies, payment methods, banks, blockchain and financial services providers into one-click for the customer. HUMBL® provides greater access and portability than US only mobile wallet providers, such as Venmo® and Zelle® and will offer a HUMBL Hubs™ merchant software for clients without smartphones in certain domiciles. Brian Foote, CEO stated: “We aren’t building HUMBL for the 350 million customers using PayPal®, but for the 7 billion people for whom money moves in different pathways, formats and cost structures.”

HUMBL recenlty announced its Latin America and Asia Expansion; The Company entered into a JV with Bexs Bank in Brazil out of Sao Paulo processing an estimated $7.6 Billion per year in international transactions. The partnership will utilize the full technology stack of HUMBL products including the HUMBL® and HUMBL Hubs® applications, to deliver faster, less expensive payment and financial services gateways between the USA and Latin America. Tesoro has also expanded into Asia after Singapore-based Cyberbeat, a leading digital payments and financial technologies company led by veteran digital payment industry executives of the Asia Pacific region made a strategic investment into HUMBL, LLC; in return Cyberbeat will gain the non-exclusive rights to sell, distribute and deploy HUMBL and HUMBL Hubs technologies into key verticals in the Asia Pacific.

On December 1 TSNP announced HUMBL® has delivered its first live transactions in the Mexico market. The event was recorded during the production of a HUMBL brand video in the Baja California border region over the weekend.

Michele Rivera, HUMBL Vice President of Global Partnerships stated: “HUMBL® was born here in the border region of the San Diego and Mexico, specifically because of the problems families regularly experience when moving and using money across borders. The current options are expensive and inefficient. Unlike US only mobile wallets like Venmo® or Zelle,® we designed HUMBL® so that it can go along with customers and merchants into places like Latin America, enabling them to transact with each other seamlessly in the new digital economy.”

HUMBL commissioned a video crew to walk-through the variety of market problems that it is addressing with its design of HUMBL® mobile wallet and HUMBL Hubs™ merchant solutions in the United States and Baja California, Mexico. In the HUMBL brand video, which will be premiered at the Dec. 9 investor call, beta testers are seen transacting within the HUMBL® mobile wallet to digitally send, receive and exchange currencies across the border; as well as paying, tipping and transacting with merchants. In addition, HUMBL® showcases financial technologies such as USD Stablecoins, which enable Latin American customers to avoid domestic currency fluctuations, by holding their money in US dollars on the blockchain in the HUMBL® mobile wallet. The company also demonstrated its HUMBL Hubs™ Point of Sale (POS) solutions for merchants in Mexico, designed to assist millions of “Cash Only” Latin American merchants with a seamless migration to the digital economy. HUMBL Hubs™ enables merchants to accept major credit cards such as Visa, Mastercard and American Express via its contactless “Point and Pay” solutions, as well as text orders, mobile payments, tipping, local deals, ratings and reviews.

 

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TSNP is in full beast mode once again rocketing up the charts towards its intra-day highs of $0.243 since a brief dip earlier in the week. TSNP is now closing in on $0.243 highs and price to beat, a break over and its confirmation of another massive leg up and TSNP goes parabolic. On Friday TSNP traded 183.9 million shares or about $385 million in dollar volume; these are massive numbers for OTC. TSNP has become the biggest runner in small caps since the Company announced the merger with HUMBL; a major mobile payments provider that works with Merchants, Governments, Banks and Merchants who are looking to digitalize some of their offerings. The Company has major bakers behind it and a world class management team consisting of members from Company’s such as Visa, Epson, MoneyGram, American Express, Facebook, Microsoft and Qualcomm. HUMBL is working on Fortune 500 partnerships and was featured by the UN 2030 agenda as well as being recently named a Forbes “Rising Startups to Watch” in June 2020 for recognizing the “major gap between the US and emerging markets regarding mobile payments.” Outgoing CEO Henry Boucher paid off liabilities in full prior to his departure leaving TSNP debt free with new CEO Brian Foote stating OS will not increase for the remainder of 2020. Tesoro says it plans to immediately begin the process for becoming an SEC filer and provide audited annual financials beginning with yearend 2020. Majority shareholder and CEO Brian Foote is a real go getter who has already reduced the share count by 860 million shares and recently stated the Company does not anticipate that the number of common shares outstanding will increase during the remainder of 2020 and throughout 2021. Microcapdaily first reported on TSNP when the stock was $0.003. We will be updating on TSNP when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TSNP.

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Disclosure: we hold no position in TSNP either long or short and we have not been compensated for this article.

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6 Comments

6 Comments

  1. Omar

    December 4, 2020 at 8:51 pm

    The stock plunged to $0.01 after hours on Friday the 4th of December. This is loss of 91%.

    • Omar Martino

      December 4, 2020 at 8:52 pm

      I should have added, any insight into this? Regards, Omar

    • luis sanchez

      December 5, 2020 at 3:53 pm

      Glitch, do your DD and spreading FAKE news.

    • Nash

      December 5, 2020 at 4:31 pm

      No it did not. That was a glitch that reported a false T Trade. It is still currently sitting at .21

    • Tara Doleman

      December 6, 2020 at 8:15 am

      It was a computer glitch. It has been corrected.

  2. Jim

    December 5, 2020 at 11:37 pm

    Omar — There are no after hours in the OTC market.

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MSP Recovery (NASDAQ: LIFW) in the Spotlight: Legal Battles, Luxe Living, and Stock Surge

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MSP Recovery (NASDAQ: LIFW) has been on quite the rollercoaster ride, defying gravity with over 400% gain since September 14th, 2023 with over 240% of that gain happening this week alone. However, the exact reasons behind this meteoric rise remain elusive. Typically, when a company drops major news, you’d expect an instant stock reaction. But in this case, the last significant update from the company was about a week ago, and it’s questionable whether that news was much on the positive side, yet the stock is still zooming upwards.

Background:

Let’s delve into the nitty-gritty of what MSP Recovery, more prominently known as LifeWallet, is all about. Imagine them as the healthcare financial detectives, diligently sifting through the complexities of medical billing and reimbursements. They specialize in recovering money owed to healthcare providers. If an insurance company owes a hospital for a patient’s treatment, these folks ensure that the hospital gets the rightful compensation. But their innovation doesn’t stop there.

Enter “LifeWallet,” their brainchild—a powerful tool designed to revolutionize healthcare transactions. Picture it as a savvy assistant for healthcare professionals, standing by their side in the hustle and bustle of medical care. LifeWallet’s magic lies in its ability to decipher the complexities of healthcare billing and insurance. It guides doctors and hospitals, helping them navigate the tangled web of who should foot the bill, especially in post-accident treatments. It’s a digital ally ensuring fair compensation and smooth financial transactions in the intricate healthcare landscape.

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MSP is making waves in the healthcare domain with this innovative approach, leveraging data analytics to streamline processes and champion fair compensation for healthcare providers. Much like a rollercoaster ride, their journey promises excitement, surprises, and an undeniable thrill in the world of healthcare finances.

Legal Battles and CEO Extravagnce:

Step back and look at their stock chart—MSP has taken a major hit in value this year, and it’s not without reason. Surprisingly, digging into the company’s operations revealed some unpleasant surprises we hadn’t anticipated. It’s been a rough ride for them.

The company was just recently involved in a class action law suit led by recognized leader in shareholder rights litigation, Robbins LLP. The case revolved around MSP not providing essential information to investors transparently.

There were a number of claims mentioned, here’s a quick list.

  1. MSP didn’t reveal there was an ongoing investigation by the SEC and federal prosecutors.
  2. They gave out financial information to investors that was significantly wrong and deceptive.
  3. When admitting they needed to fix their financial results, they didn’t reveal the full extent of the issues.
  4. MSP couldn’t financially handle the claims they were assigned to manage by a major health and engaged in deceitful actions with said provider
  5. The Registration Statement had lots of wrong or misleading statements and was poorly prepared.
  6. Their Proxy also had false or misleading statements.

It all started on July 31, 2023, where The Miami Herald unveiled significant revelations. Stating the CEO John H. Ruiz has been living quite the lifestyle buying several waterfront mansions in Miami, even an entire Boeing passenger jet.

It’s not surprising the Ruiz’s lifestyle was so extravagant considering LifeWallet was once valued at more than $32 billion, but as you can see the company is now worth a small fraction of that. That said, Ruiz’s expensive lifestyle would be tough to continue.

Then again, on August 1, 2023, the Company made disclosures to the SEC (Form 8-K), confirming The Miami Herald’s findings. The stock took another substantial hit, dropping over 12%. Adding to the unfolding drama. After that, a substantial $67 million lawsuit was filed against the Company on the same day, resulting in an 18% plummet in the stock price.

The narrative continues on! On August 17, 2023, MSP acknowledged a notification letter from Nasdaq’s Listing Qualifications Department. They confirmed the Company’s non-compliance with Nasdaq’s Rule 5250(c)(1) due to a delayed Form 10-Q filing for the period ending June 30, 2023. This revelation caused a 19% stock price drop over two days.

With that said, we’ll bet you’re seriously wondering how could this company could possibly see recovery (pun intended) after all these allegations were laid out.

What happened:

Surprisingly enough, it seems Robbins LLP just recently lost the case against MSP and there was an announcement made on September 13th, 2023 about it. All those allegations have vanished into thin air. It’s baffling how a company with so many strikes against it can seemingly wrap things up so quickly. The whole situation leaves us questioning what’s really going on.

Since the announcement the other week, the company’s valuation has skyrocketed, at some points even peaking at an increase of over 400%. Naturally with that kind of trading action, it’s no surprise day traders are getting in on the action. MSP is trending all over Twitter amongst notable users like @timothysykes, @stockplaymaker1, and @AngryRed316 talking about it.

At this point, it looks like investors are basing their trades more on chart patterns and less on the company’s solid financial footing. MSP didn’t deliver great news in its latest earnings report, showing quite a large net loss of over $400 million. It’s quite likely the allegations had a role to play in this financial blow. The real question is if MSP can get its act together, start making real profits, and avoid a chapter 11. Either way, we’ll continue to follow along to see how things pan out!

We will update you on LIFW when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Picture geralt by from Pixabay.com

 

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VCI Global (NASDAQ: VCIG) Joins Forces with Microsoft Azure OpenAI: A Tech Revolution Unleashed

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VCI Global (NASDAQ: VCIG) is back on the radar with another significant gain of 84%. We wrote about this company just recently in June, where it popped 156% on the announcement of their “Socializer Messenger”. The company is now teaming up with Microsoft Azure OpenAI through its subsidiary, V Galactech Sdn Bhd. This partnership brings together their AI know-how to reshape the world of business solutions, making waves in the tech scene by using Microsoft Azure OpenAI services.

This collaboration is all about meeting the growing demand for tech advancements that are fast, smooth, and globally connected, helping businesses connect better with their customers. It’s also a boost to VCI Global’s AI consulting skills.

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By tapping into what Microsoft Azure OpenAI offers, VCI Global is jumping into the tech world’s fast lane. They plan to come up with some cool innovations, like Generative Pre-trained Transformer 4 (GPT-4) and Microsoft’s new AI-powered chat tool, Bing Chat Enterprise. Plus, they’ll use Microsoft Azure OpenAI’s cutting-edge AI for their projects, including the super-smart AI-assisted sales platform, robosale software.

https://twitter.com/ShortDaPos/status/1694403174566858783?s=20

Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global, is very excited about this partnership. He mentions, “We’re thrilled to dive deep into AI innovations, especially with Microsoft Azure OpenAI. We can’t wait to see how this partnership transforms how businesses connect with customers in the ever-changing tech world. The sky’s the limit, and we’re ready to help our clients ride this AI wave.”

About VCI Global Limited:

VCI Global is a versatile consulting group that’s all about helping businesses with their tech and strategy. They give advice on business strategies, help with investor relations, and provide tech know-how. They mainly work in Malaysia, but they also serve clients in Malaysia, China, Singapore, and the United States, covering a bunch of different industries.

If you want to know more about them, just head to https://v-capital.co/.

About Microsoft Azure Open AI:

Microsoft Azure OpenAI is like a treasure chest of artificial intelligence tools and solutions made to help businesses. They offer everything from AI Services to Machine Learning and AI infrastructure, all aimed at helping businesses make the most of AI for their growth and innovation.

We will update you on VCIG when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Picture by Mohamed_hassan from Pixabay

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Mobilicom (NASDAQ: MOB) Secures Landmark Deal with Top Global Manufacturer

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Mobilicom (NASDAQ: MOB), a company providing cybersecurity and reliable solutions for drones and robotics secures its largest order to date from Teledyne Technologies Incorporated (NYSE: TDY) – shares rocket 123%. $TDY is one of the world’s largest manufacturers of small-sized drones and robotics.

Overview:
This $19B Tier-1 customer has now incorporated Mobilicom’s SkyHopper PRO into its latest small-sized drone platform. This is yet another testament to Mobilicom’s systems as they have already successfully integrated into 44 design wins by various drone and UAV manufacturers.

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More importantly, Teledyne has made significant progress in transitioning from the design phase to production and commercial sales with the U.S. Department of Defense. The company’s latest purchase order appears to reflect only the beginning of potentially multiple recurring orders as they prepare for their first-ever production order for the U.S. DOD.

“As Teledyne-FLIR continues to win additional orders for its small-sized drone platforms with end users such as the U.S. DOD, other federal agencies, and commercial customers, Mobilicom is well positioned for more sales of its Skyhopper Pro,” stated Mobilicom CEO Oren Elkayam. “We see the sales of these systems to the U.S. DOD, one of the largest and most selective procurers of technology, as a strong testament to the excellence of Mobilicom’s market-leading end-to-end solutions.”

 

About SkyHopper PRO:
The SkyHopper PRO is a communication system for drones that ensures secure data transfer. It offers a number of advantages and customization compared to competitors, here’s a quick overview:

Cybersecurity: Prioritizes cybersecurity, ensuring the secure transfer of data between the drone and the ground control station. This feature helps protect sensitive information and prevents unauthorized access or interference.

Reliability: The system is designed to provide robust and reliable communication even in challenging environments. It supports long-range and non-line-of-sight communication, enabling seamless connectivity between the drone and the ground station, even when obstacles are present.

Versatility: Supports multiple transmission modes, including point-to-point and point-to-multipoint communication. This versatility enables various communication setups, such as multi-drone operations and communication to multiple receivers, enhancing flexibility in drone missions.

Industry Integration: Systems have been integrated into numerous design wins by drone and UAV manufacturers indicating their compatibility and suitability for a wide range of platforms. The proven track record of integration demonstrates the system’s adaptability and reliability.

End-to-End Solution: End-to-end solutions for cybersecurity and robust communication. This comprehensive approach ensures seamless integration, streamlined operations, and enhanced overall performance for drone missions.

About Mobilicom:
Mobilicom is a leading provider of end-to-end cybersecurity and robust solutions for drones and robotics. They focus on serving global manufacturers in these industries, offering patented Mobile Mesh networking technology and a proven portfolio of commercialized products. With a growing high-profile global customer base, including corporations, governments, and the military, Mobilicom stands out for its outstanding security capabilities and performance in harsh environments. They derive revenue from hardware and software sales, licensing fees, and professional support services.

About Teledyne Technologies (NYSE: TDY):
Teledyne Technologies is a global leader known for its innovative solutions in aerospace and defense, environmental sensing, and digital imaging. The company’s success stems from a strong emphasis on research and development, enabling them to introduce cutting-edge technologies and meet customer needs effectively. With a focus on quality and customer satisfaction, Teledyne Technologies has earned a solid reputation in the industry. Strategic acquisitions have further strengthened their capabilities, expanding their product offerings and market reach. Through adaptability and a commitment to delivering value, Teledyne Technologies has established itself as a prominent player in various verticals in multiple industries, ultimately paving the way for the company’s current $19B stature in the market.

We will update you on MOB when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Picture by Pexels from Pixabay

 

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