TEN Holdings, Inc. Announces Appointment of New Chief Financial Officer
Mr. Torres is an accomplished corporate finance professional with experience leading organizations through mergers and acquisitions, capital raises, and the execution of complex financial strategies. He has managed financial operations across both public and private companies. Most recently, he served as Vice President of Finance at Obsess Inc., where he led the company's financial strategy and oversaw various transactions, including debt financing and a successful acquisition by a strategic buyer. Among other things, Mr. Torres, developed Obsess Inc.'s revenue recognition framework and financial models, launched an internal accounts payable system, and drafted the company's accounting memos. In addition, he oversaw all accounting functions to ensure compliance with GAAP and external audit standards, leading the organization through multiple independent audits.
Before joining Obsess Inc., Mr. Torres served as Senior Manager of Corporate Finance and Strategy at Exactera LLC, where he was responsible for managing the merger and acquisition pipeline and capital raising efforts. He also developed and managed the organization's annual budget and quarterly forecasts. Prior to his work in corporate finance, Mr. Torres spent over 5 years in investment banking where he originated, structured and executed complex transactions, including high yield and investment grade bonds to facilitate M&A, corporate development, dividend recapitalization, and refinancings.
'We are pleased to announce the appointment of Mr. Torres to Chief Financial Officer of our Company and I am confident that his background and experience in accounting operations, corporate finance, capital raising, and mergers and acquisitions will give us the knowledge and skillset that will assist our Company in building a solid relationship and reputation with banking institutions and the investment community,' commented Randy Jones, Chief Executive Officer of TEN Holdings, Inc. 'As we continue to execute on our company strategy, I am confident that we have found a qualified individual that can help us build a financial foundation and assist with our capital raising and future acquisition efforts to enhance our value and make well-informed financial and operations decisions to drive shareholder wealth.'
'I am very excited about the opportunity to join TEN Holdings, Inc. as the new Chief Financial Officer. I look forward to working with the rest of the management team to build upon the success of the Company and to utilize my skills and background in capital raising, financial operations, and mergers and acquisitions, to successfully execute on the business and financial strategy of the organization,' stated Virgilio D. Torres, Chief Financial Officer.
Mr. Torres graduated from Pace University in New York City with a Bachelor of Business Administration in Finance and a minor in Economics and Statistics.
About TEN Holdings, Inc.
The Company is a provider of event planning, production, and broadcasting services headquartered in Pennsylvania. The Company mainly produces virtual and hybrid events and physical events. Virtual and hybrid events involve virtual and hybrid event planning, production and broadcasting services, and continuing education services, all of which are supported by the Company's proprietary Xyvid Pro Platform. Physical events mainly involve live streaming and video recording of physical events. To learn more, visit www.tenholdingsinc.com.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors discussed in the 'Risk Factors' section of the Company's registration statement filed with the U.S. Securities and Exchange Commission (the 'SEC') and its other SEC filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and TEN Holdings, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
For more information, please contact:
Investor Relations Contact:
Erica Scudilla
Email: [email protected]
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: [email protected]
View original content to download multimedia: https://www.prnewswire.com/news-releases/ten-holdings-inc-announces-appointment-of-new-chief-financial-officer-302494085.html
SOURCE TEN Holdings, Inc.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Bessent says US tariff revenues to rise 'substantially,' focus on reducing debt
By Andrea Shalal WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent said he expects a big jump in revenues from sweeping tariffs imposed by President Donald Trump, and said the money would be used first to start paying down the federal debt, not to give rebate checks to Americans. Bessent, speaking in an interview on CNBC's "Squawk Box," said he expected to substantially revise upward his earlier estimate of $300 billion in revenues from the tariffs, but declined to be more specific. Bessent said he had not spoken with Trump about the idea of using funds from the tariffs to create a dividend for Americans, but stressed that both of them were "laser-focused" on paying down the debt. "I've been saying that tariff revenue could be $300 billion this year. I'm going to have to revise that up substantially," Bessent said. "We're going to bring down the deficit to GDP. We'll start paying down the debt, and then at that point that can be used as an offset to the American people." The U.S. economy could return to the "good, low-inflationary growth" of the 1990s, Bessent said, but he blamed higher interest rates for problems plaguing some pockets of the economy, singling out housing and lower-income households with high credit card debt. A cut in the Federal Reserve's key interest rate - which Trump has continually pressed for - could help facilitate a boom or pickup in home building, which would help keep prices down in one to two years, he said. The U.S. Census Bureau on Tuesday reported a small increase in groundbreaking for single-family homes and permits for future construction in July, even as high mortgage rates and economic uncertainty continued to hamper home purchases. Trump's wide-ranging import tariffs have kept the Federal Reserve from lowering interest rates this year, with most central bank policymakers wary of easing borrowing costs until they have more confidence the levies will not rekindle inflation, which has yet to return to the Fed's 2% target. Recent indications of softening in the job market, however, have largely convinced investors that the Fed will cut rates by a quarter of a percentage point when it meets in mid-September. That expectation has helped bring down mortgage rates in recent weeks. Bessent has previously said a 50-basis-point cut in rates was warranted. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
USDA will heighten scrutiny for solar and wind projects on farms, but some may continue
By Leah Douglas and Nichola Groom WASHINGTON (Reuters) -The U.S. Department of Agriculture said on Tuesday it will heighten scrutiny of some solar and wind projects but stopped short of ending all agency support for clean energy projects on U.S. farms, according to a press release. The release came a day after Agriculture Secretary Brooke Rollins announced on X that her agency would no longer fund wind and solar on productive farmland. Rather, the agency said it will move away from funding larger renewable energy facilities, the Tuesday release said. Wind and solar projects will not be eligible for the agency's Rural Development Business and Industry Guaranteed Loan Program, the USDA said, and ground-mounted solar systems over 50 kilowatts and those that cannot document historical energy usage will not qualify for the Rural Energy for America Program Guaranteed Loan Program, according to the release. "USDA will ensure that American farmers, ranchers and producers utilizing wind and solar energy sources will install units that are right-sized for their facilities," the release said. The agency will also not allow the use of solar panels "manufactured by foreign adversaries" in USDA-funded projects, the release said. The USDA did not immediately respond to questions about whether smaller-scale projects are still eligible for agency support. Thomas Clark, director of marketing and communications for solar installation company Northstone Solar in Whitefish, Montana, said potential clients in his region had already been impacted by the USDA's pullback in project funding. "If you are trying to do a ground mount system on farmland, which a couple years ago would not have been an issue, now they don't want that to happen," Clark said. "And that just seems like you're sticking it to farmers that are trying to find ways to diversify their revenue and be able to stay in business." Rollins said in the release that prime farmland has been displaced by solar farms and the new investment guardrails are meant to keep farmland affordable. Yet data from the USDA shows that a very small amount of rural land is used for solar and wind projects and that most continues in agricultural production even after the projects are installed. Solve the daily Crossword
Yahoo
21 minutes ago
- Yahoo
Inszone Insurance Services Expands Benefits Offerings and Enters Montana Market with Acquisition of Rocky Mountain Insurance Group, LLC
SACRAMENTO, Calif., August 19, 2025--(BUSINESS WIRE)--Inszone Insurance Services, a rapidly growing national provider of commercial, personal, and benefits insurance solutions, is pleased to announce its first expansion into Montana with the acquisition of Rocky Mountain Insurance Group, LLC, a distinguished benefits agency established in 2006 by founder and owner Gena Gaub. Rocky Mountain Insurance Group, headquartered in Montana, has developed a strong reputation for its specialized expertise in benefits and group health insurance. Founder Gena Gaub successfully built the agency over the past 17 years, earning the trust and respect of clients through dedicated, personalized service and innovative solutions tailored to their unique needs. The decision to sell to Inszone Insurance came at a pivotal point in the agency's growth. "After 17 years, I reached a stage where I recognized the need for growth for my agency," said Gena Gaub. "I've wanted to offer property and commercial lines to my clients. Joining with Inszone allows my agency to grow and offer new opportunities to current and future clients." Gena emphasized that the alignment between Rocky Mountain Insurance Group and Inszone's values and target markets played a major role in the decision. "From my initial conversations it was evident that Inszone's focus closely mirrored ours, prioritizing a shared commitment to clients," she noted. "Inszone's ability to grow and innovate made this partnership particularly appealing." Chris Walters, CEO of Inszone Insurance Services, expressed enthusiasm about the acquisition. "We are excited to welcome Rocky Mountain Insurance Group to Inszone. Their extensive experience in benefits and their exceptional client relationships significantly enhance our service capabilities and market presence," Walters said. "This partnership underscores our ongoing commitment to growing our benefits division and providing comprehensive solutions to clients." Clients of Rocky Mountain Insurance Group will benefit from Inszone's expanded resources, broader carrier options, and enhanced operational support, while continuing to enjoy the personalized attention and high-quality service they expect. About Inszone Insurance Services Founded in 2002 and headquartered in Sacramento, California, Inszone Insurance Services is a full-service insurance brokerage firm offering a wide range of property & casualty and employee benefits solutions. Inszone continues to expand organically and through strategic acquisitions, now serving clients through offices in California, Arizona, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Michigan, Missouri, Montana, Nevada, New Mexico, Oklahoma, Oregon, South Dakota, Texas, Utah, and Washington, with additional expansion planned nationwide. For more information about Inszone Insurance Services, visit View source version on Contacts Inszone Insurance Services Chris Walters – CEO714-619-5620cwalters@
