AUSTIN, Texas--(BUSINESS WIRE)--May 15, 2000--Tensleep.com, Inc. (OTC BB: TENS - news), an integrated Internet company that develops and sells Internet products, services and solutions, today announced that it reported earnings of $609,044 or $0.084 per share, and $136,192 or $0.02 per share for the six and three months ending March 31, 2000.
The earnings are the result of licensing fees of $950,000 and $200,000 for the same six and three month periods, and royalties of $72,320 which were accrued by the Company over the last several years, but only recently reported to the Company.
Tensleep.com President and Chief Executive Officer Ronald S. Tucker stated, ``We are pleased with the progress the Company is making. Our acquisition of Master Financial Group, Inc. at the end of the second quarter will provide additional earnings, which will be reflected at the end of the third quarter.''
Tucker continued, ``Tensleep.com is now in a strong financial position, with our cash assets increasing from $72,027 at the end of the first quarter to $383,348 at the end of the second quarter. For the same period, our liabilities decreased from $89,361 to $13,347.''
Tensleep.com, Inc. is a development stage integrated Internet company with two divisions centered on technology and e-commerce. The Company's business-to-business focus involves the development and sales of Internet products, services and solutions; its consumer focus is to establish a financial services hub and e-commerce websites.
TENS is scheduled to apply to the AMEX or Nasdaq small cap in the short term.