Tesoro Enterprises Inc. Announces Initial Discussions Regarding Reverse Merger With InPlays Sports Corp.
July 07 2011 - 10:30AM
Marketwired
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."
InPlays Sports Corp. (www.inplays.com), an online media &
marketing company, utilizes the popularity of professional sports
to award college scholarships to students. InPlays currently has
762,000+ students, referred to as Members, that participate in a
daily sports ticket by competing to win a college scholarship. The
company generates its revenues from advertisers, the sale and
auction of goods to its Members and ancillary revenue streams.
Andrew Barwicki, Founder and CEO of InPlays, commented, "I am
very pleased to have entered into discussions with Henry in
pursuing a reverse merger that I believe will increase shareholder
value for Tesoro shareholders and provide InPlays shareholders with
a public market for our stock. The success at InPlays is attributed
to the market and need for advertisers to reach students in an
uninterrupted manner. The Sports Ticket offered at InPlays.com
allows for high school and college students to participate in a
contest through a Free Entry in which they can win a college
scholarship."
"Furthermore, our database of 672,000 Members allows advertisers
to sponsor a Sports Ticket and advertise in the two emails we send
our students every day. Large and small companies, advertisers, as
well as many organizations throughout the globe are constantly
seeking ways to market their products and services to students
throughout the United States. I am pleased to announce that InPlays
has developed a safe and reliable marketing medium that protects
the privacy of all students, yet allows advertisers a direct way to
advertise directly to students," continued Mr. Barwicki.
"Henry and I have scheduled a number of additional meetings over
the next 2 weeks to continue our current negotiations and finalize
a deal that we believe will be fair and beneficial to Tesoro and
InPlays shareholders," concluded Andrew Barwicki.
Forward-Looking Statements
Safe Harbor Statement: This press release contains
forward-looking statements that reflect the Company's current
expectation regarding future events. Actual events could differ
materially and substantially from those projected herein and depend
on a number of factors. Certain statements in this release, and
other written or oral statements made by Tesoro Enterprises Inc.
and InPlays Sports Corp are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. You should not place
undue reliance on forward-looking statements since they involve
known and unknown risks, uncertainties and other factors which are,
in some cases, beyond the Company's control and which could, and
likely will, materially affect actual results, levels of activity,
performance or achievements. The Company assumes no obligation to
publicly update or revise these forward-looking statements for any
reason, or to update the reasons actual results could differ
materially from those anticipated in these forward-looking
statements, even if new information becomes available in the
future. Important factors that could cause actual results to differ
materially from the Company's expectations include, but are not
limited to, those factors that are disclosed under the heading
"Risk Factors" and elsewhere in documents filed by the Company from
time to time with the United States Securities and Exchange
Commission.
Contact Information: Andrew Barwicki Email Contact