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When Gaspari Nutrition went kaput several years ago, Rich bought his old company back. Maybe Brad and Cory would be interested in part deux ;)
When a fake Leonardo like Salvator Mundi sells for $450m, maybe Ryan is hoping for a Hail Mary at auction. ;)
Maybe that's why Ryan describes himself as "artist" at present.
Very strange indeed. I guess he failed to let their social media people know that the company is going out of business and that he may be going to jail!..lol
Their CEO has left the proverbial building
The proverbial building (that is, their production facilities) is likewise gone, and their manufacturing relationships are (as best I can tell) all shot to hell
Their assets, including any inventory, are being auctioned off
Yet somehow, someone keeps posting workouts and promotional bullshit like they're a going concern.
I don't get it.
Thought this post under my old moniker was a proper way to end it.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=117659857
Time to buy on the pullback. It's still way overvalued but I think we can get a bounce and then maybe gain traction.
LOL
Musclepharmcorp.com is gone
https://www.musclepharmcorp.com/
Ryan no longer lists himself as MusclePharm CEO on his Instagram. Now he lists himself as an "artist" ..... I think a better description would be "scam artist"
https://www.instagram.com/drexphotos/?hl=en
Equity wise you would need to sell 1m shares of MSLP at its current price to purchase a single $2 can of that hot selling MSLP Combat Energy drink that was promised to produce $30m in sales. At the most recent reported OS, the entire Market Cap would purchase a couple12 can cases. Turokman of course is still averaging down and in the black ;)
I've caught up on MadCow's posts, your own posts, GSB's posts from 2015-2016, etc. It's remarkable that the company has existed for this long.
The litigation, the bloated AP, the non-arm's length relationships at the Board level and the Spinal Tap CFOs - it's a compounding mess. Unfortunately the human cost rests in people's financial livelihoods being damaged. I don't refer to the speculative OTC stock purchaser, but the employees of suppliers trying to recoup losses who have been strung along.
But the ultimate default to Empery results in an acceleration of principal and interest, plus all IP that was pledged as collateral. Without the brand assets, what's left?
Depressing.
Welcome to the gray sheets. "Expert market" time...unsolicited quotes only.
The funniest part is that they were announcing their plan to uplist to Nasdaq just a few months ago. This ain't how you do that, Drex.
MSLP on OTC Markets
Welp, it's all over but the crying.
Not sure when the notice went up, but per OTC MSLP has "entered a 15 day grace period" before it gets moved to the gray sheets (and OTC stops providing quotes).
Hope everyone was able to dump their holdings...
I was considering the publish date of the K in noting the 'over 6 month' timeframe (the OTC Markets rules specifically mention publish date for accurate financials), but you raise an interesting point: If the annual report cannot be relied upon, doesn't that mean by definition that some or all of the preceding quarterlies are not reliable as well? Yet they only note the annual and subsequent quarterlies in the 8k.
Drex's games with the books (and the Spinal Tap drummer cast of CFOs who have signed off on them, then balked & bailed when they've realized what they agreed to) are so baked into the equation at this point that, barring any new scam, they have become white noise at this point.
Look again.
The non reliance covers the entire 2021 10-K AND the 2022 Q1.
15 months of non reliance financials.
But as I have opined many times, the MSLP financials have been fraudulent since Ryan became CEO. He threw his former college roommate under the bus for fraudulent Q end stuffing previously.
Stiffed suppliers out of over $40m and actually reported almost half of that figure as profit when suppliers modified their outstanding invoices to collect anything. MSLP has been a fraud and Ponzi Scheme for a long time.
I'm surprised OTC Markets still has them at Pink Limited (Yield), given that the August non-reliance 8-k means it's been well over 6 months since they have posted current and accurate financials.
Yikes!! Empery Asset Mgmt. Only has $18m portfolio value and are on the hook for over $8m to MSLP who literally can't pay. Ask any of the suppliers.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001415684/000149315222026142/form8-k.htm
Any news? It has been 90 days since the maturity date of the senior notes. Shouldn't take a CFO to reveal the status of the notes. They were only 180 day notes to begin with and yet 90 days after the extended maturity date, Ryan can't file an 8-K?
So we have Ryan admitting company has overstated revenue to the tune of $1m or more and that the past five 10-Qs and the 2021 10-K should be deeemed unreliable.
We have seen two CFOs walk out the door in past 30 days.
The Q2 is 9 days past due and counting.
Was Q1 2022 the final 10-Q we will see from this company?
One thing is for certain, more suppliers are getting screwed and the most likely news to come will be additional lawsuits against MSLP and Ryan.
This just in: Spinal Tap has lost another drummer
That was quick. Two CFOs in less than 30 days out the door.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 17, 2022, Eric Chin resigned as Chief Financial Officer, Chief Accounting Officer and Director of MusclePharm Corporation for personal reasons.
MSLP overstates $1m in revenue! What do you want to bet it is related to the energy drink?
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001415684/000149315222023755/form8-k.htm
Even the notification of the 10-Q being late....was late by 2 days. Does Ryan even come in to the office any longer? Oh, that's right....there is no office.
Q2 Financials were due yesterday. The dog ate my homework.
I suspect that the previous rockstar execs. that were brought on are long gone also...no mention of either in quite some time.
Ryan has been desperately cashing out his last remaining "personal assets" the past year IMO. I personally believe the money his sister transferred to him (by my best guess around $20m) that he poured into the convertible to avoid it becoming part of her divorce settlement, is now lost. Her husband sued her and the Drexler family for fraud.
https://nypost.com/2016/09/14/trust-funder-wife-ripped-me-off-in-business-deal-agency-chief/
But Ryan just sold his remaining real estate property....the house in Bev Hills to former Pimco bond king Bill Gross' young daughter as they shared a driveway on the property. The sale was at a huge discount and went for $20m coincidently.
Doesn't take a rocket scientist to speculate his sister wanted her money back ASAP and Ryan couldn't find the funds to even pay his property taxes on his Malibu house that is torn down and is now "embezzling" $7k a month from the company and shareholders for a rental home. He "embezzled" over $50k for moving expenses too.
This is all my speculation and opinion of course but it is all makes perfect sense and Ryan is now likely broke as a joke and has squandered his entire trust fund that daddy Halbert gave him.
Wonder if Ryan has sold daddy's Silver Lambo yet?
Maybe Sabina instead of trolling me, actually did some research on the information I posted and found it credible and realized she is an idiot.
I thought Ginger was getting awfully quiet, hence the new $400K a year bookkeeper I wrote made no sense a couple weeks ago.
HAHAHAHAHAHAHAHAHAHAHA
https://ih.advfn.com/stock-market/USOTC/muscle-pharm-pk-MSLP/stock-news/88577754/current-report-filing-8-k
Took her long enough.
How fake is this? .
200K shares "reported" trading in one day the middle of the week at .25 cents in desperate pump and dump scheme.
Now Friday the "ask" drops to .18 cents and 100 shares trade all session. Where is that buyer from just a day or two earlier? Doesn't want a -30% discount on his portfolio?
Make any sense? It does in a pump and dump scam with press release touting a "maybe" NASDAQ uplisting.
This can be considered a Ponzi Scheme business (selling 3rd party wares and collecting money, not paying the supplier) and an attempted "pump and dump" fraud on the shares IMO.
This is so shady, but that's CEO Ryan like when he hires one of best friends (despite a mention in the 10-K that there is no relationship between any officers) to become an officer and chair of the compensation committee that grants Ryan a $1m a year raise while the stock is down -90% and Revenue is down -80%.
An all but bankrupt company that is stiffing nearly all its suppliers and borrowing money at up 200% interest gives away 22m share warrants for basically nothing which would dilute current OS by 66%.
Creates a "maybe" NASDAQ uplisting (IMO, fake as they don't even qualify) and put out a Press Release.
Fire off a bunch of fake round trip trades at the very close of trading session to garner attention from penny share retail mooches.
Weeks go by on this equity with literally ZERO share volume but now 200k shares are roundtripping consistently on the pink sheets where their is no retail order rules and MM can basically fill as they wish or just plain fake trades that never initiate nor clear.
https://www.sec.gov/tcr
https://www.sec.gov/oiea/Complaint.html
https://www.sec.gov/tcr .
https://www.sec.gov/oiea/Complaint.html
Remember this post from just 3 weeks ago. Look how the MM pumped all the fake trades right at the bell to stir interest that I laid out had to happen soon in this failing Ponzi Scheme.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169090313
Madcowelixir
Wednesday, June 08, 2022 1:02:15 PM
Post# 80737 of 80765
Yikes!!! Dilution Alert nearly doubles Outstanding Shares and More Massive Interest Expense as they continue to stiff suppliers to the point Combat Crunch Bars are no longer available. So $2.5m in cash supplied and draws ~20% interest in 6 months and 22m "free" shares (see below). Crazytown!
Quote:
MusclePharm announces additional private placement of $2.5M senior secured notes
Jun. 07, 2022 5:50 AM ETMusclePharm Corporation (MSLP)By: Niloofer Shaikh, SA News Editor
MusclePharm Corporation (OTCPK:MSLP) has increased its October 2021 offering to provide for the issuance and sale of an additional senior secured notes and warrants.
The company will issue an additional $3,081,875 in principal amount of 20% original issue discount senior secured notes, resulting in gross proceeds of approximately $2.465M.
The notes will be due six months from the issuance date.
The company has also agreed to issue the investors five-year warrants to purchase up to 22,013,393 shares of the company’s common stock which warrants will be exercisable immediately at $0.2310 per share.
The private placement is expected to close on or about June 8, 2022.
Net proceeds will be used for working capital, general corporate purposes and marketing and advertising for the company’s new energy line.
******Hmmmmmm? Now whomever this "secret" preferred shareholder is can literally short up to 22m shares of MSLP risk free. Today's price is ~ the exercise price therefore every share shorted protects the "mystery" financier from further downside so any downward share price is "profit" but also has 22m "free" shares to cover any potential appreciation in stock price. Now you just need volume which the market maker has been desperately trying to stir interest up with these 200k share likely round trip churn trades recently.
Here comes the pump...........you know what follows in the Ponzi Scheme.
The rest of my portfolio - pink and big board alike - closed on 60+ day highs and with daily volumes at or exceeding any over that same time period.
MSLP is down 33% over that timeframe, flat on the day, and traded a whopping 75 shares...this following coverage of their "Uplisting IPO" on SA.
Talk about a wet fart.
So what's the deal with Sabina? Sabina "only" makes $315K in salary and Ryan hires a new bookkeeper just 5 days ago at $400K?
A lot of mystery in this shylock bond deal with new titles; Sabina is now CFO, President and Board Member yet makes less than the new bookkeeper.
Another $400K a year bookkeeper yet Ryan can't pay the suppliers and has been sued for about $40,000,000 by my guestimate. Keep on Stiffin' Mr Chin.
linkin.com/madcowelixir
No soliciting please.
Slate Rock and Gravel Company - Broom Technician
2012-present
Unemployed
2008-2012
Self Employed - Aluminum Can Logistics Technician
1999-2008
Unemployed
1990-1999
MBA - Anderson School of Management
1988-1990
BS Mathematics - UCLA (Hey Reggie!)
1983-87
My interests: CRT, CNN, BJJ, BLM, SARMS, JDL, CEO, Surfing, Cycling, Driving Daddy's Cars.....
What does owning a business have to do with being able to read a company's financials? Every filing seems to have yet another note about a stiffed vendor filing suit, while referencing all of the past lawsuits that have been 'settled' but never paid.
I have a idea let’s invest in one madcows business, let me guess you don’t own one. So why should we take advice from you.
Hey, I have an idea............Let's scam nearly every supplier we have, get sued by about a dozen suppliers, endorsors, partners, employees, investors, etc.... and then advertise a reverse stock split and mention we may be moving to NASDAQ exchange (who have fairly strict qualifying financial standards over set past periods of time based on size and profitability of company) and have a stock offering party!!!!!!! Who wants to invest? Step right up foo............750 shares have traded this entire week and at .17 cents so literally $127 of MSLP has been "possibly" traded as on the pink sheets you can never be assured that any trade is between 2 consensual parties in a true transaction. Don't pay attention to the clause that says even though we are mentioning the NASDAQ we may not qualify. That 22m shares of overhang from the preferred note I spelled out the short strategy need to be sold retail and we will say anything to try for attention and sucker retail.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001415684/000149315222017031/forms-1.htm
Another "scam" pulled by Ryan on a 9 year supplier; this one for $4.6m. SK Labs. Lets count some of the others: Capstone, 4Excelisor, Nutrablend, Bakery Barn, ThermoLife, Natural Flavors, etc.....all told probably $40m by my rough estimates. And SLC wonders how MusclePharm has avoided bankruptcy to date. Evidently you have to "steal" other businesses wares and not pay them and then sell the suppliers product to Costco and Amazon to fund MSLP's -$14.5m in losses the past 12 months.
When you desperately attempt to sell your product retail at the same price it cost you to buy it from your supplier.
Now calculate the up to 200% interest and fees you are paying on the capital to buy from the supplier.
Now calculate all the administration, salary, commissions, advertising, etc.. expenses associated with the desperate attempt to just move product.
Just like the initial Energy Drink International channel stuff was almost $500,000 and yet 6 months later only $31,000 of orders came back to refill AND expand the channel.
From 2021 10K showing year end sales that launched at the beginning of Q3
From 2022 Q1 10Q
This new Energy Drink is going over like a fart in church.
The darn quality control with supposed RockStar professionals who now work for MusclePharm. I see 10 verified reviews in the last 5 weeks on Amazon (not exactly flying off the shelves at 2 retail orders per week) and nearly every one reads like this which is the most recent:
Is Ryan having problems with inventory due to non-payment, like nearly every other vendor he has contracted with? Is the bottler forced to just throwing the variety packs together with the "spillage"? Or maybe Ryan is just bottling this stuff himself in his rental home garage since MSLP has no headquarters.
SLC-JD
I don't know.........the below pic is looking very much like the un-cast, yet very effeminate 4th Charlie's Angel.
Notice the hilarious clause I highlight in the 2021 10-K?
Sabina too, looks like she caught some of Ryan's propensity for delinquency when you read the bottom of the screenshot.
The "gentleman" in the pics with "Farrah" turned "Rick Rubin" is none other than Michael Heller, the "recently" appointed MSLP director and also chairperson of the compensation committee whose first and only "action" that I can tell was to give Ryan an additional $900,000 raise to $1.6m in 2021 despite greater than -80% decline in MSLP revenues since Ryan was appointed CEO.
The first pic looks like it was taken at Studio 54 at least two decades or more ago.
The second is just a little more recent when both we're going through that "furry" fetish, but clearly a "non-business" relationship Michael has existed for a "long" time.
But the 10-K is sworn and signed so we must "trust" all is on the up and up though not too long ago Ryan threw his former college roommate and best friend former MSLP COO Brian Cassuto under the bus when the MSLP reported revenue reported was found to be fraudulent "due to bad controls".
Brian took knife in the back.
I was leaning toward Sabina. I just can't see Drex's ego letting him assume a sockpuppet with a handle as feminine as "Ginger"
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