Posted on December 9, 2020 by Brad Steveson
My little sister recently told me about this obscure pink sheet penny stock TSNP stating that she had purchased a lot of shares a while back when it was trading for almost zero and now it was trading at almost 2c per share. My first reaction. Sell!!! And thank your lucky stars you won that gamble!
Well, she did not listen to me and the stock continued to rise until it got above 0.30 per share (where she did sell and made 150x her gamble…. err investment) and finally topped out at 0.36 per share on 12/8/20 before pulling back to as low as 0.23 per share today. As of the time of this writing (12/9/20 @1:14 CT), it does not seem to be finished as it is trading at almost 0.30 per share again in anticipation of an investor call from HUMBL today at 5pm ET.
What does HUMBL have to do with TSNP you might ask? Well on 11/12/20 HUMBL, LLC announced a merger with Tesoro Enterprises (TSNP). TSNP had been left for dead, so in effect this is a reverse merger allowing HUMBL LLC to go public as TSNP. TSNP was trading for around .004 per share at the time on the pink sheets. The deal closed today (12/9/20).
Corporate amendments and actions are being prepared and filed with Delaware to rename the surviving entity as HUMBL, Inc. and to change the ticker to HMBL. HUMBL Managing Member Brian Foote has acquired the control block of voting shares and a “significant number” of common shares from outgoing President, Henry Boucher. Brian Foote is the new CEO. The company states “all liabilities of the company to date were settled by Mr. Boucher prior to his resignation”.
On 11/13/20 Tesoro retired 551m common shares without consideration leaving the number of shares outstanding 3,996,709,773. 11/17/20 CEO agreed to lock up 318m shares purchased from the retail market by converting to a new class of preferred shares. The company does not anticipate increasing the remaining shares outstanding during 2020 or 2021. 11/23/20 agreements to raise $50m in funding through cash sale of warrants were consummated immediately after the 12/9/20 closing of the merger. Shares acquired from the Warrants cannot be sold for 1 year.
Who is the new entity HUMBL, Inc. (HMBL)? HUMBL is comprised of team members from companies like Western Union, Moneygram, Visa, American Express, Epson, Microsoft, Facebook and Qualcomm and 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.”
HUMBL has designed a mobile wallet (HUMBL ® ) and merchant software (HUMBL Hubs ™ ), that help primarily cash economies migrate to digital money services across key vertical markets, such as: government, banking, wireless carriers and merchant services. HUMBL’s global money platform will deliver up to 50% estimated savings on transactions such as: sending, receiving, lending, borrowing, investing money and paying bills.
HUMBL was built for the 7 billion people for whom money has a totally different set of global pathways, access points and cost structures. HUMBL is a mobile wallet that will help global consumers send, receive, exchange, borrow and invest money in new ways no matter where they live. HUMBL HUBS helps merchants in cash dependent countries migrate to the digital economy by providing simple software solutions that allow merchants to deliver contactless services.
HUMBL, Inc. released a new video today in conjunction with the closing announcement titled “A Borderless Day in Baja”. You can view that here >> https://www.humblpay.com/ Anyone who has traveled to Mexico for a vacation can likely see the potential of this idea. Think PayPal for 7 billion people whom PayPal does not serve. While I have no way to calculate a valuation or even estimate one at this point, I note that PayPal has a market cap of 255B and Square is at 100B as of today’s writing.
So, what do we have today? We have a pink sheet stock with 3.9B shares outstanding trading at about 0.30 per share for a market cap of over 1B dollars and a balance of at least 50m in cash. An investor call is scheduled for December 9, 2020 at 5pm ET to introduce HUMBL to investors and shareholders and provide further insights for the public about HUMBL’s mission, positioning and corporate partnerships. Registration Page | Investor Call (humblpay.com)
Finally, you have a writer who should have taken the time to look at this when his sister told him about it at 2c per share. Disclosure. I am currently long the stock, (a speculative position for now), but I had to pay up for it. I have also traded this stock a few times in the past several days for small gains. You can be sure I will continue to follow this emerging story going forward and adjust my position up or down depending on how things progress with HUMBL, Inc.
This story has reminded me to be humble and listen to people you trust when they tell you something. I will follow up this story soon with learnings from the investor call scheduled for later today.
Disclosure: I am long and I may buy or sell shares within the next 72 hours.