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I wouldn't utilize the word fear the way you did. Maybe he parlayed somebody else's guarantee on my daughters college fund? At the current moment I'd be a happy participant, but willing to close that mslp position. It's a timing issue.
Diversify?
The only legitimate argument I've ever heard for diversify is protect one self from their own inadequacy.
It's not necessarily a bad thing; it could an admission. Not all of us have the time or resources to explore every depth; but that in itself explains why diversification is not justification.
Mslp has been had opportunities to move in other directions; it doesn't have the hindsight excuses they likely all tell themselves.
While I don't disagree/ nor agree with elixir( I just don't know)....the oddities intrigue me....why did the board formally reject?
The Llc protections are not so great to deter reclamation.
S777
Remember the forum moderator bb33? Look at the date "cough, cough" bellator sold and went short.
basebalplayr33 Wednesday, 10/22/14 05:10:16 PM
Re: bellator_exec post# 70623
Post #
70726
of 78080 Go
I take it you no longer hold 20k+ shares long?
S777
I can honestly recommend Tontis_Acheater, bellator_exec and Goldberg-Stein for financial advice. Go look at "their" record.
https://investorshub.advfn.com/boards/profilea.aspx?user=429520
https://investorshub.advfn.com/boards/profilea.aspx?user=471865
https://investorshub.advfn.com/boards/profilea.aspx?user=537894
Let me give you a message from 2013 that may sound eerily familiar to you
Tontis_Acheater Friday, 11/08/13 06:48:05 PM
Re: None
Post #
59730
of 88119 Go
Hate to burst the bulls bubble but this was a debtor in possession loan. A $700K investment due in 60 days secured by essentially all Fuse Science assets. This is how bankrupt companies who are running out of cash access operating capital and transfer assets to a third party.
Simple financials show Fuse is losing more than $10 for every $1 in revenue. In simple terms, Fuse is losing $1.2 in cash every month on $100K in revenue. Balance sheet shows $300k as of last quarter so you see Fuse was out of cash.
This is horrible news for existing shareholders and just a signal that Fuse assets are heading out the door within 60 days. If the $700K note + interest is not paid back in full in 60 days, the investors are entitled to foreclose on essentially all Fuse Science assets. Game over for equity holders.
So contradictory to what you’re claiming...you’re going to be here until the “9th inning”
Save yourself shortie...everyone here knows what we’re in for. We’ve been here far longer than your late 2017 appearance when Goldbond was banned.
Your “wisdom” as you call it or what is better be described as “rants of desperation” are viewed just a pathetic as the counter claims from us “fan boys” except we aren’t echoing the same horsecrap over and over and over!
I hope this pans out for you, because I fear as much time as you spend on this board and Seeking Alpha you had to have bet your house and most likely your kids college funds on this short position. You need this WAY more than I do so good luck to you! Try diversifying...I read that somewhere.
Only 5 trading sessions remain....
until CEO Ryan's $17m convertible note maturity date expiration.
Will we see default?
Will we see conversion?
Will we see more extend and pretend?
Feel free to "go on the record"......
uh......
to cash out. I can't redeem my position until I cover and I'm not covering until $0.0xxx
Like those sports book trips to Vegas, I have to wait until the final whistle to walk to the ticket writer window and redeem my winnings.
But I continue to share my wisdom with the less fortunate as a way of giving back while I wait.
If you’re not an interested fanboy...or interested at all in the “9th inning”....then answer this extremely simple question...
WHY ARE YOU HERE?!?!?!??
Interesting only if you're a fanboy.
MusclePharm is bankrupt. Product rejection, operating losses and cash burn has accelerated. So has debt as any hard asset has now been borrowed against. Revenues are crashing. Ponzi is over.
Amerop has no intention of making a legitimate offer that has the possibility of closing as any idiot who performs due diligence sees bankruptcy.
MusclePharm's $17m convertible due in 7 days is only part of the massive debt at junk interest. Prestige 20%, CrossRoads 18%, Man City settlement 15%, etc.....
It might be interesting to you fanboys to watch all 9 innings, but it's a blowout and the outcome has already been determined.
Arbitrage guys are not ignoring a legit 90% spread on todays closing and Amerop's fake interest @ $1.98; they know it's fantasy island........da plane, da plane, boss..........
Merry Xmas S777 while you wait until the 12/25/2017 expiration of the Wynnefield/Drexler standstill agreement. It will be a lump of coal.
This is all happening for a reason and the wording used in these filings is very specific. Its not coincidence that “fiduciary duty” is stated within the filing. We now have two major shareholders that have publicly stated their concerns regarding the financing. Two major shareholders that have much more at stake than anyone on this board. Yes even you Madcowelixir/Goldbondstein. This is about to get very interesting between now and Christmas.
Old news just released today.
Wynnefield "finally" admitted they were in cahoots with Drexler and have a standstill agreement that forbids them from criticizing or negotiating against Drexler until 12/25/2017
Of course if you read Goldberg-Stein in real time for the past two years here and on Seeking Alpha, you knew this already.
https://www.sec.gov/Archives/edgar/data/1251565/000114420417055538/tv478135_sc13da.htm
The Wynnefield Reporting Persons are currently bound by an agreement with the Issuer containing standstill provisions which, among other things, prevent them from making an alternative proposal with other interested parties to the Issuer’s Board of Directors, which has refused to waive such restriction. The standstill agreement also prohibits the Wynnefield Reporting Persons from publically criticizing the Issuer and its Board. The standstill provisions of the agreement expire on December 25, 2017, at which time the Wynnefield Reporting Persons expect to publicly comment further.
Other than as set forth in this Item 4, the Wynnefield Reporting Persons do not have any current plans, proposals or negotiations that relate to or would result in any of the matters referred to in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Wynnefield Reporting Persons intend to review their investment in the Issuer on a continuing basis, and to the extent permitted by law, may seek to engage in discussions with other stockholders and/or with management and the Board of the Issuer concerning the business, operations or future plans of the Issuer. Depending on various factors including, without limitation, the Issuer’s financial position, the price levels of the shares of Common Stock, conditions in the securities markets and general economic and industry conditions, the Wynnefield Reporting Persons may, in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, purchasing additional shares of Common Stock, selling shares of Common Stock, engaging in short selling of or any hedging or similar transaction with respect to the Common Stock, taking any other action with respect to the Issuer or any of its securities in any manner permitted by law or changing its intention with respect to any and all matters referred to in paragraphs (a) through (j) of Item 4.
It's only obvious if it is. But is it?
So now that we have that out of the way....
What's the final destination preferred amongst the parties involved?
What is potentially salvageable if the debt were eliminated in a consummated offer?
To me, it appears; mslp/Drexel doesn't want to give massive ownership up for ~ $23m; while simultaneously all other parties would prefer drexler maintains his legal preemptive obligations via an LLC.
I'd like to hear from you..., but others may contribute (i would advise minimal knowledge/research on the protections/limitations an LLC provide/lack there of)
Sounds fitting to me. You?
@idee
Read "Flash Boys" and see how it's done every second of every trading day all under the guise of "we provide liquidity"
https://www.amazon.com/Flash-Boys-Wall-Street-Revolt/dp/0393351599
Pardon my ignorance but...
I guess I don't understand how this manipulation is legal?
Ryan gets beat up all weekend so he can alleviate the guilt of being MSLP dumba$$ #1 Trust Fund baby.. Congrats bro!! Clearly getting beat up in a meaningless old man tournament is more important than shareholders interests according the CEO of MP. Read the highlighted portion. Look at the priority as it's all about his feelings of being a loser.
Meanwhile revenues continue to crash.
What happened to Combat Protein Powder, Assault, BCAA et al the former best selling MP products?
Here is the last remaining MP product on the bb.com T50 list
#47 and falling
Here are the final two MP products (both very minor sellers of the MP line) on the M&S.com T50 list
#39 and #42
Couldn't be simpler.
*This term sheet does NOT constitute an offer*
This term sheet (i) is an indication of interest only regarding a transaction on the general terms and conditions outlined herein (the “Transaction”), and (ii) does not create a binding obligation (including any duty to negotiate), fiduciary relationship or joint venture between the parties. This term sheet does not constitute an offer, agreement (conditional or otherwise), agreement in principle, agreement to agree, or commitment (each a “Commitment”) to provide financing. For the avoidance of doubt, a Commitment would only be evidenced by a subsequent document executed and delivered by the Investor setting forth the terms and conditions, and providing for the closing, of the Transaction and would be preceded by the satisfactory completion of all legal, accounting and business due diligence.
MP The Athlete's Company
What are the two MSLP Bro's up to as the company revenues continue to crash and Combat Crunch sales fall off a cliff?
Well MP #2 and former Drex college roommate is busy in Beverly Hills. His daughter is obviously using the MP Weight Gainer during her bulking phase.
MP #1 is busy posting pics of his food this weekend and "competing" in the Senior III Division Heavyweight in Long Beach. Good news is he finished 3rd out of 3 in his division. His bros are breaking the internet with emoji High Fives!
Meanwhile...In Denver CO......(crickets)
On October 20, 2017, the Special Committee of the Board of the Issuer declined Amerop’s proposal to acquire $18 million of newly issued shares of Issuer Common Stock at a price of $1.96 per share and on the terms set forth in the term sheet that Amerop submitted to the Special Committee on October 17, 2017
Nice try, but you're clearly lacking in legal skills. Or maybe just comprehension. The term sheet was not the offer. However, the terms of the offer were as set forth in the term sheet.
Black's Law Dictionary: Offer - To bring to or before; to present for acceptance or rejection; to hold out or proffer; to make a proposal to; to exhibit something that may be taken or received or not. Morrison v. Springer, 15 Iowa, 340; Vincent v. Woodland Oil Co., 105 Pa. 402, 30 Atl. 991; People v. Ah Fook, 62 Cal. 494. 2. To attempt or endeavor; to make an effort to effect some object; in this sense used principally in criminal law. Com. v. Harris, 1 Beg. Gaz. R. (Pa.) 457...
Buck: "On October 20, 2017, the Special Committee of the Board of the Issuer declined Amerop’s proposal to acquire $18 million of newly issued shares of Issuer Common Stock at a price of $1.96 per share and on the terms set forth in the term sheet that Amerop submitted to the Special Committee on October 17, 2017...
See, it doesn't matter what the language in the form 13 says. If you make an offer on your neighbor's house, then publish an ad in the paper stating that you "expressed interest" in that house, the fact remains that you made an offer.
As for the disclaimed fiduciary duty, read the statement that you so carefully cut and pasted:
"and (ii) does not create a binding obligation(including any duty to negotiate), fiduciary relationship or joint venture between the parties"
Note: those last three words are key. Nowhere does it state or imply that the board may abrogate its fiduciary duty to the shareholders.
Yes, Buck wants to recover his investment. However, no matter how many misleading statements are made on this board (and others), everyone paying attention understands that the intent is not to acquire shares in the open market, it is to get the company to pay off the outstanding notes with the proceeds of a stock acquisition.
Huh?
SLC-JD Monday, 10/30/17 03:39:29 PM
Re: None
Post #
79869
of 79870 Go
So the BOD is going to turn down an offer to replace 18MM of secured debt
Buck (and the rest of the shareholders) are going to have an easy time making a case for breach of fiduciary duty.
Some cheerleaders don't know what constitutes an offer.
I can "express interest" in my neighbor's house for 10X market value but that doesn't constitute an offer nor does it drive up the price in the bank's appraiser's books as a legitimate "comp" (comparison).
Neither did Amerop's that clearly states "does not create a fiduciary relationship" because there is no legal offer.
This term sheet (i) is an indication of interest only regarding a transaction on the general terms and conditions outlined herein (the “Transaction”), and (ii) does not create a binding obligation (including any duty to negotiate), fiduciary relationship or joint venture between the parties. This term sheet does not constitute an offer, agreement (conditional or otherwise), agreement in principle, agreement to agree, or commitment (each a “Commitment”) to provide financing. For the avoidance of doubt, a Commitment would only be evidenced by a subsequent document executed and delivered by the Investor setting forth the terms and conditions, and providing for the closing, of the Transaction and would be preceded by the satisfactory completion of all legal, accounting and business due diligence.
So the BOD is going to turn down an offer to replace 18MM of secured debt with shares issued at a higher PPS than the conversion option in the notes, and pursue a restructuring of that debt? The restructuring better eliminate the interest payments, set a conversion rate not materially different than $1.98 *and* keep the company afloat, or Buck (and the rest of the shareholders) are going to have an easy time making a case for breach of fiduciary duty.
SMH
On October 22, 2017, Amerop contacted the Special Committee and urged it to reconsider its decision. Amerop offered to conduct limited due diligence in connection with its proposal and also informed the Special Committee that it had identified senior management personnel with relevant industry expertise who it believed would be available to become officers of the Issuer in the event of departures by one or more members of the Issuer’s current senior management team.
Buck Wessell is an idiot
The only logical reason he would invest $4.5m of his funds exclusively focused on buying 2m shares of worthless MSLP common shares; is he ignorantly drank the Trust Fund Baby Kool-Aid and believed MusclePharm could cut it way to profitability. By the time he was executing his private transaction with Arnold and Open Market purchases, it was perfectly clear to any sophisticated investor, MSLP had severe going concern issues and expenses were increasing (not declining) when you compared Revenue:Expenses. What good are expense cuts when Revenue is decreasing faster on a percentage basis? Of course I have been highlighting this fact ad nauseam since Ryan's folly plan was made public where he claimed to place himself in the same boat as common shareholders all the while collateralizing 100% of the MSLP hard and soft assets to an LLC in which he personally controls. Any MSLP common shareholders hold any interest in CONSAC, LLC? I didn't think so.
Buck has proven himself to be a unsophisticated investing idiot and deserves to lose his capital.
Now Buck "the idiot" is acting like a petulant little child throwing a tantrum, whining and flailing about.
Grow up Buck and get professional advice from a qualified investment professional next time. You have proven to need it.
Amerop remains concerned with the governance, management, operations and financing of the Issuer, including the Issuer’s plans for recapitalization / refinancing of the Notes. Amerop intends to continue to have discussions with the Board and possibly other Issuer investors regarding other alternatives to address Amerop’s concerns. In the course of these discussions, Amerop may propose solutions to the Issuer’s challenges that may directly or indirectly relate to or result in the acquisition by Amerop or other persons of additional Issuer securities, or the disposition by Amerop or other persons of Issuer securities; an extraordinary transaction involving the Issuer, such as a sale, recapitalization or reorganization of the Issuer; sales or transfers of material amounts of the Issuer’s assets; changes in the composition of the Board or the Issuer’s management team; material changes in the Issuer’s capital structure; and other potentially material changes in the Issuer’s business, operations or structure.
Buck is rejected like taking it into the key against Dikembe Mutombo (finger wagging).
On October 20, 2017, the Special Committee of the Board of the Issuer declined Amerop’s proposal to acquire $18 million of newly issued shares of Issuer Common Stock at a price of $1.96 per share and on the terms set forth in the term sheet that Amerop submitted to the Special Committee on October 17, 2017, a copy of which was attached as Exhibit A to the Initial 13D. The Special Committee informed Amerop that, instead of negotiating with Amerop, it would focus on renegotiation discussions with Ryan Drexler, the Executive Chairman of the Board and the Chief Executive Officer of the Issuer, to recapitalize / refinance the three secured promissory Notes held by Mr. Drexler, with an aggregate principal amount of $18,000,000.
On October 22, 2017, Amerop contacted the Special Committee and urged it to reconsider its decision. The Special Committee has not responded to Amerop despite an attempt by Amerop to reconvene discussions.
Amerop reserves the right to acquire additional shares of Issuer Common Stock, or sell its existing shares of Issuer Common Stock, based on the course of the discussions described above or on the basis of exogenous factors such as the price and availability of the Issuer’s securities
Past 6 Quarters Revenue Decline under CEO Ryan "the Trust Fund Baby" before the Bakery Barn fiasco that will surely make it worse
MSLP Domestic Sales previous 6 quarters down more than -50%
$29.7m --- Q1 '16
$23.5m --- Q2 '16
$18.7m --- Q3 '16
$14.8m --- Q4 '16
$17.6m --- Q1 '17 (bump came from net $4m loss leader Manufacturers coupon at Costco offering $9 off
Combat Protein 5lb tub)
$14.6m --- Q2 '17 (this number inflated by the initial inventory load of Natural Line into all domestic retail channels)
Amerop; Are you paying attention? You have no intention of closing on a $32m deal that will leave you owning 48% of this train wreck. How convenient the "expression of interest" expires 5 days before CEO's notes maturity date.
Nice disclaimer excuse to "not close"
This term sheet (i) is an indication of interest only regarding a transaction on the general terms and conditions outlined herein (the “Transaction”), and (ii) does not create a binding obligation (including any duty to negotiate), fiduciary relationship or joint venture between the parties. This term sheet does not constitute an offer, agreement (conditional or otherwise), agreement in principle, agreement to agree, or commitment (each a “Commitment”) to provide financing. For the avoidance of doubt, a Commitment would only be evidenced by a subsequent document executed and delivered by the Investor setting forth the terms and conditions, and providing for the closing, of the Transaction and would be preceded by the satisfactory completion of all legal, accounting and business due diligence.
In connection with its proposal and its review of other considerations, Amerop has retained outside counsel and a third-party financial advisor.
@bugs
Though I have not tried them personally, I have completed much research on the competitors and manufactures and from a macro nutrient and customer review basis the consensus seems to be the Oh Yeah One Bar scores best if the Chef Robert Irvine bar exceeds your calorie threshold.
Thanks for the info about Bakery Barn's other products. I've eaten and liked the Irvine bars before, though the calorie count is higher than I'd like.
Had no idea about the change of bakery in addition to formula, but it helps explain how badly the new bars are formed in addition to the yucky flavor.
I'd still like to find a replacement in the `200 range that isn't Quest.
Just confirmed. You are correct. #4. Thank you for the correction.
They are #4 out of well over 50 other bars.
stupified777 Wednesday, 10/25/17 12:11:52 AM
Re: Madcowelixir post# 79842
Post #
79845
of 79849 Go
3 by my BB.com app...
Let's review the Q2 2015 conference call that was Ryan Drexler's debutante ball. I added the quotation marks at about a half dozen of the SMH moments.
Operator
Our next question is from the line of Joe Gomes with William Smith.
Joe Gomes
I was wondering if maybe Mr. Drexler could comment a little bit as to what he sees at MusclePharm. What he feels he can bring to the table for the company? What has he done so far? What is he doing, going forward? I'd like to hear from him.
Ryan Drexler
Because of my previous synergies and being in the nutritional supplements industry for over 25 years, I feel I can bring a lot to the table. I am very, very excited again to work with "all these great executives at MusclePharm" and the opportunity to "grow" this company through my synergies and work in all different strategies of this company, especially in the "topline growth" and the profitability.
Because of my previous business, we went through a lot of the different areas that we're going through now. And basically I've been here a little over a month. As Richard said, we are diving to all these different areas. And I'm working with the team, very excited to work with the team, "great team members". And I'm working on all these different areas, especially looking at all these different areas on the bottomline to "grow" the bottomline, "grow" the gross profit, which I do feel is very, very important.
And then at the same time, really being mindful of looking at the "topline and growing at the same time", which is obviously a very tough thing, but we're working together. It's a great. And we're starting to do a lot of things, but as I said, just being here basically a month, diving into all the different areas. So very excited to put this opportunity to work with the team and "we're already doing great things".
Joe Gomes
Do you guys had put out number previously on topline for the year of $210 million to $220 million. The first half of the year, we've done about $92 million of revenue, which suggests that the last two quarters you're going to be looking at $60 million quarters, significantly above anything the company has ever done. I mean what's your confidence that you can actually achieve those results?
Richard Estalella
So most of our product launches this year are backend driven, so I mean, we've really grown the first half of the year. Sales have come from organic growth quarter-over-quarter from Q4 to where we are right now, Q4 of last year to where we are right now. So again, we still feel that we can hit that range. We're working closely with these launches and with our customers to make sure that we get there.
Since we’re in the mood to copy and paste my posts, let’s try this one again and see if you can manage to respond to something other than your extreme interest in Combat Crunch bar reviews...inquiring minds want to know...
Re: Madcowelixir Post# 79821
Ok. So for all the readers of this board please explain to us how BK is favorable for Ryan. I would honestly like to see what this looks like. I just don’t know what to believe with you. You claimed Amerop and Ryan were moving money “offshore” just days ago now it’s back to Drexler filing BK so please try and stay focused and explain to us how BK recoups anywhere near Ryan’s $17 million. Please come with something better than he’s getting Musclepharms assets and IP. From your keyboard to our eyes, you’ve screamed they’re broke time and time again...so no cash to pay much of anything...not many assets. I’m honestly asking because if your theory is correct, I’d need to better understand why a millionaire would sink so much money into a business case study because he thought the company is “super cool” only to file BK and get nothing in return. Drexler has money but I don’t think he has THAT kind of money to throw away.
A sniper of what your theory might look like...
Drexler to his buddies: “Oh hey guys...remember when I told you I was going to get involved in Musclepharm, invest a ton of jack and get things going in the right direction?
Drexlers buddies: yeah, bro. You’re killing it man. You’ve had a ton of successes in businnnn....oh wait a sec.
Drexler: I know I said I was going to turn it around but it was too far gone. I think I’m going to file BK and take all they have.
Drexlers buddies: Dude you cut it down to the barebones and still have to file BK? I thought there was another investor that was going to cough up the $18 million to keep it out of default.
Drexler: Yeah, yeah...but if I file BK I get it all. That logo man...it’s so green. That rad used gym equipment...I can smell the sweat from all of those UFC fighters still all over it. The gnarly website, the way cool useless patents and all of those extremely expensive yet worthless shares I get if I file BK. It’s a NO BRAINER BRO!!! All for $17 million.
Drexlers buddies: Righteous!! But isn’t filing BK like bad bro?
Drexler:....
Ok, so he has been getting a salary but not in the amount of $17 million. If the brand is performing as poorly as you continuously claim, then seriously...what good is the name, logo, or patents? Oh neat $17 million I got a logo that I could’ve had made on fiverr for $5, a website that I could’ve had made for $400, and some patents for products that you, Madcowelixir, claim are so terrible and that no one wants on any of the supplement websites.
Not so sure I believe this theory or any of your rhetoric truth be told.
Replies:
I agree with you Stupe, I too would
Ideeotsuhvont on 10/23/2017 1:44:40 PM
Report TOS
What’s your point? I can admit to my mistakes. Each time I’ve been corrected, I’m more than happy to take it in the chin. You say 4th place...I say 3rd. At this point I really don’t care if it’s 10th or 20th...we’ll see what happens in a couple of weeks.
3 by my BB.com app...
stupified777 Wednesday, 09/27/17 01:48:32 PM
Re: A deleted message
Post #
79627
of 79843 Go
I’m not a misleading person
stupified777 Tuesday, 08/22/17 08:40:06 PM
Re: None
Post #
79524
of 79843 Go
Nelson Obus and Wynnefield Capital added another 10k plus shares at $1.41 to his holdings.
Madcowelixir Wednesday, August 23, 2017 12:07:57 AM
Re: stupified777 post# 79524 Post #
79525
of 79843 Go
I see 5,000 shares purchased @ $1.41 in filing
stupified777 Wednesday, August 23, 2017 12:20:56 AM
Re: Madcowelixir post# 79525 Post #
79526
of 79843 Go
Easy chief...it's an honest misread. I was reading on my phone when I posted. You are correct and thanks for pointing out my mistake.
Correction: 5k plus shares added by Nelson Obus....
stupified777 Wednesday, 09/27/17 10:22:58 AM
Re: None
Post #
79611
of 79843 Go
I’m in direct communication with Bodybuilding.com working on getting any fictitious reviews removed from the site. Have contacted their support center to look into this now and they are investigating. Cheers to the cheaters!
stupified777 Wednesday, 09/27/17 11:44:51 AM
Re: codie post# 79617
Post #
79620
of 79843 Go
The bars have changed. Confirmed. Horrible?! I think not.
Different? New packaging? Smaller? Maybe all of these but they aren’t bad, horrible or disgusting by any means. You guys go ahead and pat each other on the backs. The stock market is a crazy world. Hahahaha
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