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Q1 '19 Financials are due on Wednesday. Is CEO Ryan "I'm looking out for the shareholders" going to report or is the Ponzi Scheme shyster going to delay again after claiming fake numbers for the first 9 months of 2018? SEC, where are you?
NO FINANCIALS FOR OVER 6 MONTHS
And CEO Ryan issues a press release that the previous 9 months financials were fake!
What happened to the SEC monitor?
First CEO Ryan gives you 9 months of bogus revenues (like I said they were fake in real time) and then he doesn't report financials any more. Remember his words. He is looking out for the shareholders! Remember the SEC was monitoring MSLP after the last fraud? Sure they were.
Shocked! Shocked I say! Failed to file timely (even with the extension). Anyone with restricted stock is dead in the water.
TJ is still compensated. Monster did not replace MSLP, just in addition to. TJ is a proven doper now and not just rumored as several UFC fighters have accused him previously including several Team Alpha Male athletes who said TJ was trying to push his PED program on them and guaranteed they wouldn't test positive.
https://www.instagram.com/p/Bq8Su5FgSe3/
10-k due today. Will it be filed?
He is not a Musclepharm athlete anymore. Apparently he dropped them/they dropped him (not sure which) when he signed with Monster.
MSLP posterboy & endorsor TJ Dillashaw tests positive for PEDs. CEO_Ryan still has TJ all over his Instagram. Add to the list of MSLP endorsement deals with Mike Vick, Colin Kaepernick, Johnny Manziel, Tiger Woods, and the rest of the losers.
Can’t believe they all got voted in,it was pretty close. Throw them all out.
Hello, long long long time. What’s next, finally an interview to see how far one has developed?
I’d like to think I’m ready, but mslp no idea
Yes - it was an interesting big of gymnastics for them to cite inaccuracies in the YTD numbers without addressing each quarter individually.
How about Ryan just releasing they faked the first 3 Qs of financials in 2018. I wrote here that MSLP is always seasonal and this $26m across the board Q1, Q2, Q3 was fake.
Oh what tangled webs they weave...
So for the kids in the back, there are a few ongoing lawsuits that will likely materially impact the company in the coming months. While many on this board are aware of one or more of these, they have become linked to one another, changing the underlying claims in a way that may be detrimental to Drexler, Musclepharm, the shareholders, or all three.
1) Way back in 2013, Drexler's bro-in-law (Billet) began divorce proceedings against Drexler's sister (Jodi). The major bone of contention is Jodi's claim that she's broke (remember, she's one of the beneficiaries of the $100MM Country Life sale)...Billet doesn't buy it.
2) In late 2016, Billet sues Musclepharm, Drexler, Jodi, and a whole bunch of other players, claiming that Drexler was behind a conspiracy to launder Jodi's cash to keep it out of Billet's hands - specifically, that Drexler received Jodi's cash from the various trusts, and loaned it to Musclepharm. The damages claim was $43MM, and the RICO claim would allow for treble damanges.
3) I'll save you the time. This has not been disclosed in any Musclepharm SEC filing. In a subsequent filing by White Winston, Directors Bush and Desmond are both quoted as stating under oath that they first learned of the Billet lawsuit in September 2018, when Winston filed its discovery motion - nearly two years after it was filed.
4) In 2018, White Winston files a derivative action in NV against Musclepharm, Drexler, and the rest of the BOD claiming a breach of fiduciary duty. Prayer for relief includes appointment of a receiver. A TRO is granted prohibiting Drexler from selling his stock. The Case is approved for settlement negotiations; discovery is ongoing.
5) While all of this is going on, White Winston and Billet become aware of one another's actions; both go on to cite the other's lawsuits in pushing for appointment of a receiver.
6) White Winston wins a motion to conduct limited discover on Drexler & Musclepharm, seeking financial info previously obtained by Billet on the theory that it would show that Drexler did launder Jodi's money to secure his position in Musclepharm, and citing the potential outcome of the Billet suit as a reason to appoint a receiver.
7) Billet cites the White Winston action as a reason to appoint a receiver.
8) In Feb. 2019, After the NV court issues an order allowing limited discovery by White Winston, Musclepharm et. al. appeal. They lose. There's now a motion for reconsideration, and a concurrent joint motion for confidentiality and a protective order.
9) In an unrelated item, Musclepharm has launched a frivolous lawsuit against Obus for his open letter pointing out the financial performance of the company, and Drexler's compensation.
any positives here? Saw that Whole Foods is now stocking product. Walgreens brining in the Organic Bars as well. Think there is a chance they come out of this thriving down the road?
TJ Dillashaw just got KTFO by a 125lber. TJ then went on Joe Rogan podcast and his 10m+ listeners and talked about all his sponsors and business ventures. Know who he didn't mention? MusclePharm.
Hmm....Ryan et al barely won the officers election at the Shareholders meeting due to all the dissents from Amerop/White Winston/Wynnefield.
Now we see share volume and huge price decline. Did Ryan et al give up? A/WW/W could easily hold the majority position now and call for a special election. I haven't seen an update on the lawsuit on Pacer. Does A/WW/W still want to convert the Drex debt to shares? MSLP is nearing breakeven before the interest payments but the revenues still don't make sense.
There is no seasonality any longer so the revenue numbers look fake. Every Q 1-4 is ~$26m. Before the "restructured turnaround" Q1, Q2 were about 65% of the annual rev with Q4 the worst performer.
Current bid $.38
Current ask $.40
Way, way, way underwater for the convertibles or Muscle & Fitness $3m advert deal that converts at $3.xx
This deal defies logic.
Nice call Odessa99. "Only" down another 50% for you. Time to switch strategy to the George Costanza method.
Hey Neuronal
What happened to that nice insider buy at over $1.xx
You are now down 50% in just a couple weeks.
Good call
2019 could be the year shares fall below .25 and stay there waiting for a buyout at .35 that I have been calling for over a year. That is the price we will see a takeout. Buying above that price is just asking for losses.
I was the biggest bull on MSLP since it’s inception through 2016. I had all the gym gear, apparel, supplements and even a sticker on my truck that took up the entire back window. The company lost its way and its core customer focus. There is nothing really left here but a couple decent supplements that lack any consumer awareness.
Management blew any goodwill built with shareholders during the couple good years for the share price. Volume and share price will continue to decrease through 2019.
More lawsuit fodder for MSLP
An independent lab bought retail and tested the Combat Crunch Bar that on the label shows 210 calories. Lab tests actually showed 306 calories.
The lab found lead as an ingredient. Combat Crunch is now likely to require a Prop 65 warning on the label declaring that CCB contains ingredients (lead) that have been show to cause cancer.
CCB also contains a high amount of sucralose, also known as Splenda, which was recently downgraded to “avoid” from “caution” by the Center for Science in the Public Interest, due to an animal study that found sucralose causes cancer.
MP products appeal to no one at this point and have no customer awareness anymore. The hardcore athletes think MP products are a joke - this has been consensus for years. Average Joe’s think MP products are too expensive and aren’t available at average retailers where they could stumble upon them randomly at a decent price. So they aren’t high end and they aren’t cheap enough to appeal to the low end. They are kind of stuck in the middle. I personally have loved MP products since the company was first launched. I even had a huge green MP decal on my truck back window for years. Had the clothing, gym back, headphones, blend bottle. Now I don’t recognize the company anymore and don’t see how they get back to growth. The market has moved on and left MP in the past. I think investors should do the same. It could catch a short term bid but the trend will continue to be down. I think it’s a takeout target at .45 - .55 and will be taken private. A larger player isn’t likely to be the acquirer because they would be better starting fresh rather than trying to start a fitness brand with a tainted name like MP.
The average publicly traded company trades at about 1.4 times annual sales. Muscle Pharm, as beaten down as it is, currently trades at about .14 times annual sales (before any dilution to resolve the convertible debt). That is a 90% reduction from the average. While Muscle Pharm deserves to trade way below the avg publicly traded company (due to a long history bad mgmt decisions), a 90% reduction from the avg is probably a bit much. I fully expect an upward bounce from this level. And I expect that to occur sooner rather than later.
As always, simply my opinion.
MSLP
It is sometimes said that volume is the great truth serum. And with all of this trading volume, the current price must be telling the truth right?. As I stated before, I'd sure hate to be covering a significant short position in this low volume environment.
"And now the "ask" is down -20% from his recommendation. So much for the spread excuse, huh? Wynnefield is down double digit % on their new buy of 15K shares but what's new? Wynnefield is down over -90% on their $10m long position. Amerop is down -60% on their $5m+ long position. See a pattern? "
MSLP
Odes
And now the "ask" is down -20% from his recommendation. So much for the spread excuse, huh? Wynnefield is down double digit % on their new buy of 15K shares but what's new? Wynnefield is down over -90% on their $10m long position. Amerop is down -60% on their $5m+ long position. See a pattern?
Finally falling back to Earth after the unwarranted run. The company once was on the verge of making a major splash in the industry. Now it is poorly run and continues to suffer self-inflicted wounds due to poor management decisions. I still think a buyout comes but at much lower levels. My target it still sub-.50 takeout.
Do you think the bid/ask spread of about 20% at the time of the trade had anything to do with the math that resulted in a 20% drop on that one trade? BTW, I am glad to be long on this stock (although I'm way down from my cost basis) at the moment. Because if I was short a large number of MSLP shares, covering on this very thinly traded stock would scare the wits out of me.
As always, simply my opinion.
"Nice Pop Odessa!
Down -20% on just 2k shares traded. Keep up the great trading advice! "
MSLP
Nice Pop Odessa!
Down -20% on just 2k shares traded. Keep up the great trading advice!
Nice Pop Odessa!
Down -20% on just 2k shares traded. Keep up the great trading advice!
The new Crisp Protein Bars are great....they give me a little hope.
Welcome back, Neuronal. The chart is looking like a flag and pennant formation... might be due for a pop here.
As always, simply my opinion.
MSLP
No not really, the more surprising part to me was that they bought more at all.
MSLP
Wynnefield spent over $10 MILLION buying $1M+ shares of MSLP beginning in 2013.
You consider $15 thousand a nice addition?
$15k divided by $10m = .0015
That is 1/10th of 1% add to the Wynnefield portfolio
Nice insider buys (Wynnefield 10% ownership) just posted. Hopefully something positive will happen with this stock and company one day for shareholders instead of the CEO continually buying and posting new hot rods on his social media account...
MSLP
CEO Ryan was supposed to be in court as defendant on this matter too only weeks ago. Drex can't stay out of the courtroom and has lost every suit. He is like 0-12.
https://nypost.com/2018/09/10/protein-powder-company-preps-for-battle-against-hedge-fund/
CEO_Ryan lost his lawsuit filed against him by former brother in law Brad Billet. CEO Ryan appealed, lost that and then lost his attempt to deny legal fees won by Billet. Appealed again and lost that.
https://www.pacermonitor.com/public/case/23088074/Ryan_Drexler_v_Brad_Billet
Bring back the lawsuit against MSLP
PF infused $8m into a MSLP convertible that bailed out the cash strapped and heavily indebted company.
Biozone assets, after acquired by MSLP, were sold to an unrelated party, not associated with PF. Empty shell BZNE ticker was then amended by PF to COCP.
If you go way back to Fuse Science and their huge endorsee Tiger Woods (whom Phil Frost was invested and orchestrated a secured loan of $200K from Brad Pyatt and MSLP to Fuse right before they went bankrupt and transferred the collateral assets. how do you think Brad knew Tiger and signed him at MSLP?) you will see the same cast of shady characters listed in the recent lawsuit ie Barry Honig etal....
I posted extensively as "Tontis_Acheater" on the criminal enterprise that is Phil Frost and his friends at the time as I was short Fuse, MSLP, BZNE, COCP, DRNE, etc..... You can Google my old moniker and see for yourself.
https://investorshub.advfn.com/boards/profilea.aspx?user=429520
Did MSLP get plugged into the Philip Frost investigation? They did own BioZone for a time and they were named as part of the probe. And the chart does look like a pump and dump scheme if you look at MSLP going back to when Frost got involved and sold BioZone to MSLP and then MSLP disposed of that asset into another Frost controlled company, COCP. I can’t believe that MSLP would escape the investigation given they they bought and sold the company at the center of the fraud claim.
Close - the injunction is temporary, pending a future hearing. Drex could conceivably be freed up up at a later date, and the parade of horrible sin the initial pleading could be realized.
It appears thus far that Buck still plans on buying equity (which would be dilutitave, but assuming Buck’s original proposal [~$1.89] stands, not nearly as dilutative as Drex converting under the terms of the revised note), the proceeds of which will pay off the convertible. However, any such action would be determined by a court appointed receiver, should the judge so rule.
The question at present is who this mystery partner proposing to buy Drex’s Debt is, what the terms are, and in the face of the derivative action, if the proposed deal is sufficiently meritorious to pass a business judgement smell test and circumvent the appointment of a receiver.
Not enough beta to even begin to guess at a final outcome yet, but it’s worth noting that the theory behind the TRO motion was deemed sufficiently likely to prevail that the motion was granted (far from definitive, but it is an initial indication of the court’s view of the argument).
Ryan loses another legal hearing and is not longer able to convert his convertible debt. Ryan is now a guaranteed minority shareholder going forward with no recourse back to control as Buck and friends are on the verge of buying the debt via the convertible. HUGE dilution impending (additional 10m-30m shares) but debt service expense will decrease substantially. MSLP lost ~$5m last Q but will save about $1m in interest expense quarterly.
It took some time, but it looks like Buck finally had enough:
https://www.otcmarkets.com/filing/conv_pdf?id=12935003&guid=CpoEUHVz5Dxyb3h
Cody, did you see the latest lawsuit filed against MSLP?
https://www.sec.gov/Archives/edgar/data/1415684/000119312518257804/d614646dsc13da.htm
Saw this info in their last call, but Combat Crunch bars are sold in Wegmans (northeast guy here). Good news, the CC Cookie Dough was delicious. Bad news, individual bars priced at 2.79...higher price point than Chef Irvine's Fit Crunch and significantly smaller in size compared to that one as well.
Setting up for a crash. Volume is drying up as price increases. People aren’t chasing anymore. The takeout price is still .85 but won’t happen with the insiders holding shares at elevated prices.
A paltry 10K shares a day isn't much of a head turner.
Wow this is a nice run and traded well above my buyout target of $0.85. Will it continue?
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