Tensleep Describes Business for 2005 and Discusses Plans for 2006.AUSTIN, Texas -- Tensleep Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :TENS)("Tensleep"), a business and development company, announced that during 2005, Tensleep and its subsidiaries and affiliates engaged in the following activities which had the indicated effects on its financial affairs: --In January 2005, Amcor Financial Corp. filed for bankruptcy under Chapter 7, which placed the value of Tensleep's investment, approximately $700,000, in jeopardy. --In March 2005, Tensleep closed an agreement with the shareholders of Yeahronimo Media Ventures, Inc., for the reverse acquisition of its Tensleep Technologies, Inc. ("TNSP TNSP Transmission Network Service Provider (Australia) TNSP TetraNode Streaming Protocol ") subsidiary. Subsequently, TNSP's name was changed to Commodore International Corporation Commodore International Corporation (CIC) is a Netherlands-based company that bought all the global rights, patents and assets to the Commodore brand in 2005. The company provides digital media services, software and hardware and delivers media entertainment in the context of a , whose trading symbol Trading symbol See: Ticker symbol is CDRL CDRL Contract Data Requirements List (DoD) CDRL Contract Deliverables Requirements List CDRL Contract Data Requirement Line CDRL Contract Documents Requirements List . --In December 2005, Tensleep entered into a contract to sell 1,000,000 shares of Commodore common stock for $1,100,000. The transaction is to be completed by the end of March 2006. Tensleep has received $100,000 towards the purchase price. After the sale, Tensleep will have approximately 97,000 unsold shares, and will have a gain of approximately $700,000. --Tensleep received a royalty in the amount of $16,503 for the year from the license of its modem integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for design. --Tensleep has continued to develop its wireless transmitters and receivers with limited sales in its Tensleep Wireless Corporation subsidiary. Because of limited funds and no sales personnel, Tensleep Wireless is considered a development stage company. In 2006 Tensleep's business activities are designed to focus on its reorganized business. The business plan includes: --Tensleep being reorganized into a consumer electronic products and services holding company, and transferring its development business, both business and corporate, to its subsidiary Tensleep Financial Corporation. --Tensleep will form and organize two operating companies operating company A business that engages in transactions with outsiders. , one to do business in Europe and one in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . --Tensleep plans to sell or spin-off its Tensleep Wireless subsidiary, and to spin-off its Tensleep Financial Corporation subsidiary. --Once Tensleep Wireless and Tensleep Financial are spun-off or Tensleep Wireless sold, Tensleep will prepare and file a registration statement under the Securities Act of 1933 or the Securities Exchange Act of 1934, thus becoming a reporting company and move the trading of its common stock to the Bulletin Board. --Tensleep plans to continue to acquire licenses or Intellectual Property (IP) for consumer electronic products. --Tensleep plans to enter into joint ventures with European companies It may never be fully completed or, depending on its its nature, it may be that it can never be completed. However, new and revised entries in the list are always welcome. This is a list of companies from the countries in the European Union. for the distribution of their consumer electronic products in the United States. --Tensleep plans to call a special meeting of shareholders to approve an increase of its authorized common stock to 150,000,000 shares. Tensleep Corporation has been a business and corporate development company specializing in the capital and financial restructuring and reorganization of public and private companies, enabling them to secure financing. For more information on Tensleep Corporation, visit www.tensleep.com. |
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