New Canaan, CT- Tesoro Enterprises, Inc. announced today the publishing of its First Quarter 2012 Financial statements. The report included, among other things, the following summary of Management’s Discussion and Analysis of the Results of Operations for the first quarter of 2012.

“Net Sales for the three months ended March 31, 2012, was $98,335 compared to $93,789 for the three months ended March 31, 2011, an increase of $4,546. The increase in Net Sales is primarily attributable to the Net Sales from the second store. Revenues consist of ordinary sales activity, and are consistent with recent history.

Gross profit, generated primarily by FFCT, for the period ended March 31, 2012 was $29,254 compared to $30,844 for the three months ended March 31, 2011, a decrease of $1,590. The decrease is primarily due to increases in material and labor costs. The increases in material and labor costs resulted in a reduction in Gross Margins to 30% for the three months ended March 31, 2012 from 33% for the three months ended March 31, 2011.

Operating expense for the period ended March 31, 2012 was $53,691 compared to $156,701 for the three months ended March 31, 2011, a decrease of $103,010. The decrease, in operating expenses, is due to the elimination of start-up costs of Store #2 and reduced corporate overhead; and, consists primarily of general and administrative expenses.

Net loss for the period ended March 31, 2012 was $(28,956) compared to $(129,044) for the period ended March 31, 2011, a decrease of $100,088. The primary contributor to the decrease in Net Loss was the decrease in operating expenses discussed above. Management expects improvement in net Income/ (Loss) as the weather improves, as Store #2 continues to gain market share in its new territory and the expansion of the company’s commercial flooring operations.”

Henry Boucher, Company CEO said that the growth in Net Sales for Q1 ’12 over Q1 ’11 represents a 5% growth rate. He also noted a significant reduction in operating expense and net loss. The balance sheet has been strengthened by the conversion of a majority of debentures to common stock.

The complete financial statements are available on the OTC web site: www.otcmarkets.com, under the company symbol, TSNP:PK.

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. 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:

Tesoro Enterprises, Inc.

26 Cross Street

New Canaan, CT 06840

203/930-7427

Article source: http://www.otcmarkets.com/stock/TSNP/news?id=47806

First Aviation Announces Management Changes

May 18, 2012

OTC Disclosure News Service

Westport, CT –

First Aviation Announces Management Changes

WESTPORT, CT, May 18, 2012 – First Aviation Services Inc. today announces several senior executive changes at the Company and its operating subsidiary.

Mr. Andrew R. Trosper has been named President and Chief Operating Officer of Aerospace Products International, Inc. (API) effective June 15, 2012.  Mr. Trosper has served as API’s Senior Vice President since he joined the Company in 2010.  Prior to joining API, Mr. Trosper held various positions during a twenty-two year career at Honeywell Aerospace.

Dr. Ahmed M. Metwalli, President of Aerospace Products International, Inc. and Chief Operating Officer of First Aviation, will retire from the Company effective June 15, 2012.   “We are very grateful for the five years of service that Ahmed provided API and First Aviation and the smooth transition that he coordinated with his successor,” said Mr. Hollander.  “During his tenure, Ahmed led the transformation of the company’s business portfolio which resulted in the significant profitable growth of our Supply Chain Management and Military and Government lines of business. He has also elevated the Company’s international profile and brought valuable experience to our organization. We wish Ahmed well in his future activities.”

Mr. Hollander also welcomed Mr. Trosper to his new role: “We are very fortunate to have Andy Trosper on our team. In the two years since joining API, he has added an impressive level of operational control and management expertise.  Andy is a well-tested executive who knows our industry well and we look forward to API’s future under his leadership.”

Additionally, Mr. Joshua T. Krotec has been named to the newly created position of Senior Vice President, First Aviation Services, Inc.  Mr. Krotec has been with the Company since 2000, most recently serving as Vice President of Strategy Business Development for both API and First Aviation Services.

Both Andy and Joshua will report directly to Mr. Aaron P. Hollander, Chairman and Chief Executive Officer of First Aviation Services, Inc.

First Aviation Services Inc., (“FAvS”) located in Westport, Connecticut, through its principal operating subsidiaries Aerospace Products International, Inc., (“API”) based in Memphis, TN, Aerospace Turbine Rotables, Inc. (“AeTR”) in Wichita, KS, and Piedmont Propulsion Systems, LLC (“PPS”) in Winston-Salem, NC is a leading provider of services to the aviation industry worldwide.  With locations in the U.S., Canada, Asia Pacific and China plus partners throughout the world, FAvS is a leading provider of aviation products, supply chain management services, repair and overhaul and technology solutions to the industry.

More information about FAvS and its subsidiaries may be found on the company’s website, www.firstaviation.com.  Please see our forward looking statements at www.firstaviation.com/forward.

# # #

Contact:           James G. Howell II

                        Chief Financial Officer

                        First Aviation Services Inc.

                        (901) 259-4502

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/FAVS/news?id=47815

GREAT WESTERN MINERALS GROUP CLARIFIES ESCROW CONDITION

May 18, 2012

OTC Disclosure News Service

Saskatoon, SK, Canada –

GREAT WESTERN MINERALS GROUP LTD.

TSX Venture Symbol: GWG                                                                  CUSIP: 39141Y 10 3

OTCQX: GWMGF

GREAT WESTERN MINERALS GROUP CLARIFIES ESCROW CONDITION

(May 18, 2012) – Saskatoon, Canada: Great Western Minerals Group Ltd. (“GWMG” or the “Company”, TSX:V – GWG) announces that the the escrow agent (see GWMG Media  Release May 10, 2012: “GWMG Satisfies Escrow Conditions for Release of Offering Funds”) erroneously reported to the Company that the funds would be released immediately. GWMG now expects that the escrowed funds will be released upon filing of the full technical report which is scheduled to be completed on or before May 31, 2012.

Great Western Minerals Group Ltd is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company’s wholly owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminum, nickel, cobalt and Rare Earth Elements. As part of the Company’s vertical integration strategy, GWMG also holds 100% equity ownership in Rare Earth Extraction Co. Limited, which owns a 74% equity interest in the Steenkampskraal Mine. In addition to an exploration program at Steenkampskraal, GWMG also holds interests in four active Rare Earth exploration and development properties in North America.

For further information, please contact Dwight Percy, Manager of Investor Relations at (306) 659-4516. Email inquiries should be made to info@gwmg.ca and the company website is located at www.gwmg.ca. Inquiries by direct mail should be addressed to Great Western Minerals Group Ltd., 219 Robin Crescent, Saskatoon, SK S7L 6M8.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set out in this News Release constitutes forward-looking information.  Forward-looking statements (often, but not always, identified by the use of words such as “expect”, “may”, “could”, “anticipate” or “will” and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to, the NI 43-101 Report being filed on SEDAR by May 31, 2012, the results of the NI 43-101 Report not having any material adverse differences from the previously announced estimates, the construction, commissioning and operation of the proposed monazite processing facility and separation facility, mine refurbishment activities, reliance on third parties to meet projected timelines, the results of the exploration program at Steenkampskraal, commencement of production at Steenkampskraal, risks related to the receipt of all required approvals including those relating to the commencement of production at the Steenkampskraal mine, delays in obtaining permits, licenses and operating authorities in South Africa and China, environmental matters, water and land use risks, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve or resource estimates, health and safety risks, uncertainty of estimates and projections of production, costs and expenses, risks that future Steenkampskraal and region exploration results may not meet exploration or corporate objectives, the sufficiency of current cash and reserves as well as the availability of additional cash from operations or from financing on reasonable terms or at all, political risks inherent in South Africa and China, risks associated with the relationship between GWMG and/or its subsidiaries and communities and governments in South Africa, radioactivity and related issues, dependence on one mineral project, loss of key personnel, the factors discussed in the Company’s public disclosure record, and other factors that could cause actions, events or results not to be as anticipated. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. Except as required by law, GWMG does not assume any obligation to update forward looking statements as set out in this news release. The forward-looking statements of GWMG contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG’s current annual information form available at www.sedar.com

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/GWMGF/news?id=47809