Tensleep Issues Corporate Update
AUSTIN, Texas--(BUSINESS WIRE)--Oct. 12, 2000--Tensleep Corp. (OTC BB: TENS - news; formerly Tensleep.com Inc.), an
integrated Internet company Thursday announced a company update.
Overview
Tensleep will acquire and license technology and identify, develop and operate development stage technology companies with a focus on three sectors in the Internet infrastructure
market: appliance technology, Internet Integration, and financial services. Tensleep is consolidating its current subsidiaries and affiliates into groups relating to the market sector of
each company. Individually, these groups will continue to develop their own operations and build their own revenue streams. Collectively, these groups will provide Tensleep with
the tools and resources to meet its stated goal of becoming a leading player in operating, accelerating and integrating technology companies in the Internet infrastructure and devices
market.
Appliance Technology
The goal of the Appliance Technology Group is to miniaturize Tensleep's Internet related products within three generations. The first generation products, now in process, are
designed to control or gather information about other devices or appliances, manufactured by third parties, and transmit data about those devices or appliances through the Internet.
The first generation is a complete product in a self contained unit which connects the primary device or appliance to the Internet without the use of a computer. The second
generation is the integration of selected components of each product into one or more integrated circuits for use in a modular board that is then embedded into the host device or
appliance. The third generation is the integration of the system created by the modular unit with the device or appliance's system for a complete system-on-a-chip.
Tensleep Appliances Inc., an affiliate, provides Tensleep's technical engineering and design services in developing the prototypes for its Internet-based products. These products -
CyberServers - are special - purpose modular computers or servers, which include an iCradle, a home controller, and a Web modem. Tensleep Appliances will continue to engineer
and design for technologies with unique applications in the IAD (Internet Access Device) market specifically and in the SOHO (Small Office Home Office) appliance market
general.
Tensleep Technologies Inc., a wholly owned subsidiary, is completing the development of a motor controller, a non-Internet product. This company will continue to focus on
bringing-to-market penetration through strategic relationships, joint ventures and international marketing alliances.
China Net & Technologies Inc., an affiliate, is a high-technology and Internet-related company that specializes in developing strategic relationships with emerging-growth,
high-technology companies in China. China Net has acquired a license to manufacture and distribute Tensleep's Web-modem in China and is seeking Chinese companies to
manufacture and distribute that product.
Internet Integration
Tensleep Finance.com Inc. is to change its name to Tensleep.com Inc. (Tensleep's former name) (``Tensleep.com'') and will focus on Internet company acquisition, integration
and growth acceleration. Tensleep.com will not confine its activities solely to the North American market where it considers the current market for undervalued opportunities to be
extensively mined, but will look increasingly to the international market for the opportunity to add stockholder value and ``go-to-market'' services to Internet service and
infrastructure companies. These companies will be development stage companies whose e-business model or Internet infrastructure is already proven but who lack the kind of
services and the level of resources that Tensleep can provide.
Tensleep.com is currently negotiating the acquisition of a unique Internet vertical community and B2B e-commerce site in the hotel and restaurant industry and expects to be able to
confirm during October the appointment of several Internet industry experienced individuals to its Board of Advisors and the opening of operational offices in London, England and
in Shanghai, China.
Financial Services
The focus on Financial Services is to acquire and develop financial service providers. The services include distribution of financial information on small public growth companies
through the Internet and investment relations Web-sites providing information about public companies.
Master Financial Group (Master Financial), a wholly owned subsidiary, provides Tensleep with a strong revenue performance and increasing profitability. Tensleep's strategy is to
maintain this dynamic growth by adding to Master Financial's customer base with an expanded range of online services for North American companies to reach investor groups and
develop new market opportunities in both South East Asia and Europe and to complement these online services with the acquisition and expansion of a leading, independent
``bricks and mortar'' investor relations company in Europe.
Tensleep is currently negotiating the acquisition of a financial services company located in Europe and the development of expanded financial services in a joint venture with an
independent company.
Operating Results
Tensleep announced a profit of $16,145 for the three months ended June 30, 2000 and a profit of $752,638 for the nine months with the same end date. The net earnings per share
equaled $0.002 and $0.098, for the respective time periods.
The results of the third quarter reflects Tensleep's short term business plan. The majority of revenues and profit for the third quarter came from Master Financial Group. The
long-term plan requires time, patience, and money. Since Tensleep has limited resources, its long-term plan is at risk without a short term plan that can generate revenues and
profits. Tensleep believes that short term revenues and profits enhance shareholder value for those shareholders with the patience to be long-term investors.
Management
At the annual stockholders meeting, July 28, 2000, the newly elected board of directors was announced and the name change from Tensleep.com to Tensleep Corporation was
approved.
Tensleep's Board of Directors include Ronald S. Tucker, H. Glen Leason, Gary Magee, Chris Rayne and James Wang to the board of directors.
Tensleep's officers include Tucker President, CEO and CFO; Rayne executive vice president and COO; Wang as a vice president; Dennis Kaliher as a vice president and Leticia I.
Tucker as secretary. |
