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Blue Skies; HUMBLE; Tesoro Enterprises, Inc. (OTCMKTS: TSNP) Merger

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Tesoro Enterprises, Inc. (OTCMKTS: TSNP) is the undisputed king of the OTC in recent days running 160% on Friday alone and closing the week off at $0.1085. The stock traded a total of 618 million shares on Friday or $55 million dollar volume; an incredible number for any otc stock. Some data platforms may show a lower price in after-hours however this is just a T-trade; it represents the average price the broker filled a large order at. The T-trade usually shows up on the tape a few minutes after the close and its purpose is to maintain market transparency and integrity. TSNP closed friday at $0.1081. Having surpassed all previous highs TSNP is in blue sky breakout!

Reverse Merger stocks (RM) are easily among the most exciting and explosive stocks in small caps rivaling only biotechs in their ability to make historic gains and TSNP is no exception continuing its historic gains as  the Company completes the merger with HUMBL PAY; a major mobile payments provider with a first-class management team of members from companies like Western Union, Moneygram, Visa, American Express, Epson, Microsoft, Facebook and Qualcomm. HUMBL was recently named a Forbes “Rising Startups to Watch” in June 2020. The Company is debt free as outgoing CEO Boucher paid off liabilities in full prior to his departure.

Tesoro Enterprises, Inc. (OTCMKTS: TSNP) was incorporated in 2009 in Oklahoma and has never been a shell. The Company started off as Fashion Floor Covering and Tile, Inc. FFC&T was a full line (wood, carpet and tile) retail dealer and installer of floor and wall covering materials. FFC&T had been in business for over thirty years under the same ownership and management. In June of 2011, TEI formed The Fashion Floor Annex, Inc. as a wholly owned subsidiary, to market and sell its products over the internet. The Company was named IWT Tesoro Corp. until June 2009 when they changed their name to Tesoro Distributors, Inc. before changing its name to Tesoro Enterprises, Inc. in March 2020.

TSNP recent history; for many years the stock was inactive and did not trade but then in the fall of 2020 things started to happen. In September the Company started 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 subsequently up-listed to pink current with filings up to date on OTCMarkets.

TSNP initiated a share repurchase program. According to the release “The consent action instructs management of the corporation to Purchas in the open market and at the best terms acceptable to management, up to One hundred million (100,000,000) shares of the corporations common stock, at any time, in whole or in part, over the next twelve (12) months, The Accumulation Period. More things started to happen; the Company signed an NDA with the stated purpose for the eventual confidential sharing of corporate information with potential business partners. The company also launched a twitter account. in a big move in October the Company retained RM whizz George sharp who whipped things into shape because he does things the right way; there is a reason why FORW is also running.

On November 6 TSNP announced it is a party to 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 company will almost immediately begin the process for becoming an SEC filer and provide audited annual financials beginning with yearend 2020.

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.

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TSNP

HUMBL PAY is a major mobile payments player with a first-class management team comprised of members from companies like Western Union, Moneygram, Visa, American Express, Epson, Microsoft, Facebook and Qualcomm and works across banks, borders and currencies. The company is focused on working with targeted verticals, such as: Governments, Wireless, Banks and Merchants with existing customer bases who are looking to go digital with their money. 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.”

An investor call, tentatively scheduled for December 9, 2020, will be held to introduce HUMBL to investors and shareholders and provide further insights for the public about HUMBL’s mission, positioning and corporate partnerships.

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 begining the process for becoming an SEC filer and provide audited annual financials beginning with yearend 2020. Majority shareholder and new CEO Brian Foote recently retired 551,6 million common shares. This was followed by Mr. Foote converting another 318 million shares into a new class of Preferred shares. This reduces TSNP common shares by a total of 860 million shares since Mr. Foote became President of Tesoro.

Latin America and Asia Expansion; Tesoro entered into a JV with Bexs Bank in Brazil. Headquartered in São Paulo, Brazil, Bexs is specialized in integrating local payments processing and FX transactions for global businesses and 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 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. The cash investment is consummate with a new partnership in which Cyberbeat gains the non-exclusive rights to sell, distribute and deploy HUMBL and HUMBL Hubs technologies into key verticals in the Asia Pacific in calendar year 2021 and beyond.

https://twitter.com/og_tigress/status/1332406729619943426

 

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TSNP is the undisputed king of the OTC in recent days running 160% on Friday alone and closing the week off at $0.1081 in a blue sky breakout. The stock traded a total of 618 million shares on Friday or $55 million dollar volume. TSNP is on fire as the Company completes the merger with HUMBL; a major mobile payments provider with a first-class management team of members from companies like Western Union, Moneygram, Visa, American Express, Epson, Microsoft, Facebook and Qualcomm. HUMBL was recently named a Forbes “Rising Startups to Watch” in June 2020. The Company is debt free as outgoing CEO Boucher paid off all liabilities in full prior to his departure. Tesoro has also announced it plans to immediately begin the process for becoming an SEC filer and provide audited annual financials beginning with yearend 2020. New majority shareholder and CEO Brian Foote is a serious 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 on November 15 as the stock was passing $0.01.  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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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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