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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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.
— Tigress (@og_tigress) November 27, 2020
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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.