Subsidiaries and Affiliates - Tensleep Corporation

Tensleep Corporation (OTC:TENS) is continuing to developing a unique business and corporate development company. Unique in that it specializes in the capital and financial restructuring and reorganization of public and private companies, whether subsidiaries, affiliates or independents. Unique in its investor profile. Unique in its concept of earnings. Unique in its business concepts and methodology.

Tensleep’s mission is to provide its shareholders with opportunities for capital growth. Capital growth in its own share value, and growth in the shares of its subsidiaries and affiliates.

A Tensleep investor is a conservative gambler. An investor wanting an investment with some degree of fundamentals, yet willing and capable of taking the risks of a micro cap investment because of the anticipated rewards.

History and Fundamentals

What are Tensleep’s fundamentals?

Tensleep equates fundamentals with stability and stability with staying power. Tensleep has staying power.

Tensleep became a publically traded company in September 1999, when its registration under the Securities Exchange Act became effective. In December 2001 it voluntarily withdrew its registration under the Exchange Act due to the cost to maintain that registration. It has survived the days of the of the “new economy” when its price was as high as $7.00 per share in March 2000 and descended to $0.01 more than a year later. Within the last 12 months, from July 13, 2005 to July 13, 2006, the price per share has been as high as $1.50 and as low as $0.08. As of July 13, 2006 it was bid $1.40 and offered at $1.50. Tensleep has value.

Tensleep started business as a fab-less semi-conductor company with no cash and a lot of intellectual property looking for a product. Through bad acquisitions and with little cash, Tensleep and affiliates developed an Internet gateway usable as a generic component product within application specific products. Unfortunately, there wasn’t sufficient time or cash to develop a comprehensive marketing and sales force. In spite of Tensleep’s lack of cash, its cash and working capital have increased and Tensleep has maintain a stable net worth in excess of $1,000,000, after extraordinary writeoffs. All of this has been done without a source of stable or significant revenues. Tensleep has a positive net worth.

Tensleep is not the result of a change in control, but the result of a belief that survival of a company, micro cap or blue chip, depends on the extent of its debt. Tensleep has no debt.

Tensleep believes that the value of its stock should not be determined by the amount of its revenues, but by the earnings of its shareholders. Shareholder earnings come from dividends, both cash and stock. Tensleep has been unable to pay cash dividends, but it has declared and paid four stock dividends, three 10% dividends (one in Tensleep’s common stock, one in the common stock of Tensleep Technologies, Inc. (OTC:TNSP), a subsidiary which became Commodore International Corporation (OTC:CDRL), and the other in the common stock of Tensleep Wireless Corporation, a subsidiary) and one a 50% dividend in the common stock of Tensleep Financial Corporation, a subsidiary. The common stock of Tensleep Wireless and Tensleep Financial are not currently trading, but each company plans to apply for trading in the near future. Tensleep has an active dividend policy.

Tensleep believes that its most valuable asset is its, approximately, 900 shareholders owning 10,000,000 shares of its common stock, with approximately 700 shareholders holding 2,726,297 (approximately) shares in its market float. Its shareholders are the creator of wealth for Tensleep, its subsidiaries, affiliates, and partners. Tensleep has a broad shareholder base.

Future Business

What is Tensleep’s business?

Tensleep’s business is providing services to subsidiaries and affiliated companies (“partner companies”), private and public, to obtain financing through commercial funding and capital and financial restructuring and reorganization. Its goal is to increase shareholder value by a combination of increased value of partner companies’ securities or equitable interests and the partial distribution of those securities of partner companies to shareholders. Its objective is to provide suitable investors with an opportunity to make liquid venture capital investments in undervalued companies before they become registered and fully reporting public companies. Tensleep’s business develops wealth.

What are Tensleep’s Principles and Central Ideas Underlying its Business?

Tensleep’s business is based upon two principles and five central ideas. Tensleep has principles.

The first principle is that the growth, in value, of an investment in Tensleep should be determined by a consistent return on investment in the form of interest or cash dividends or asset distribution. In accordance with this principle, Tensleep has distributed a special 10% stock dividend in early 2000 which was payable in shares of Tensleep. Then in 2002 Tensleep distributed a 10% stock dividend, payable in shares of Tensleep Technologies, to all shareholders. Then in 2006 Tensleep distributed two stock dividends, one for 10% payable in shares of Tensleep Wireless Corporation and one for 50% payable in shares of Tensleep Financial Corporation Tensleep believes investors should receive return on investment.

The second principle is that the first investors, making a venture capital investment in an emerging growth company, should have the benefit of that companies growth in value and a means to liquidate all or part of their investment. In accordance with this principle, Tensleep supports a limited investment in partner companies through publicly traded securities at an early stage in the development of the partner company. Tensleep believes first investors should realize gains.

The five central concepts are:

1.	Provide shareholders with a return on investment through ground floor liquid investment opportunities in partner companies; Tensleep believes in initial liquid investments.
2.	Invest in people with undervalued companies; Tensleep believes in people.
3.	Diversify business interests; Tensleep believes in diversity.
4.	Focus on business areas where management has experience and specific knowledge; and Tensleep believes in experience.
5.	Make use of creative concept for reorganizing and developing undervalued companies by using publicly traded securities. Tensleep believes in creativity.

What is Tensleep’s short term plan?

Tensleep’s immediate business objective is to increase its liquid asset base and to employ those assets to generate greater revenues. Its corporate affairs objective, on increasing its liquid asset base, is to obtain an audit for the years ending September 30, 2005 and 2006 and become a reporting company under the securities Exchange Act of 1934, and have a market on the bulletin board. Tensleep to increase its liquid asset base and to become a reporting company.

What are Tensleep’s opportunities?

Tensleep intends to capitalize on (a) incubating and developing entrepreneurial High Technology businesses, (b) entering into strategic partnerships or joint ventures with non-technology companies seeking to develop and to add a stable and sustainable source of revenue, (c) pursue consulting, advisory and other value added support services to its portfolio companies as well as other companies. Tensleep has opportunities.

What is Tensleep’s and the Tensleep Group’s business model?

Tensleep’s and the Tensleep Group’s business model focuses on companies that are undervalued but at the same time have products or properties that have the potential to produce strong revenues and earnings. This approach to investing allows Tensleep and the Tensleep Group to make initial investments at an attractive price. After making its initial investment the Tensleep Group then brings its managerial and strategic network expertise to meet the challenges facing the company, which may include providing additional capital, providing professional services and/or providing strategic focus. After the Tensleep Group puts its new partner companies in a position to succeed it will position the target company for further growth and increased market share, which eventually will enhance the value of Tensleep common stock. The key to this strategy is a consistently high quality deal flow, which is available to Tensleep. Tensleep focuses on undervalued companies.

Why Invest in Tensleep

There are eighteen reasons, listed above, why a conservative gambler should invest in Tensleep.