Muscle Pharm Corporation (MSLPQ)

[turokman]

I did some quick googling and I found one site that said it could be 45 days so that would put it around late February/ early March.

I can buy $MSLP on TD Ameritrade or Etrade right now but I would guess the uplifting to a more qualified exchange could allow the Robinhood’ers access to this stock .

[stupified777]

Any idea on timeline? Is that a 30 day process? 10 day? I like the idea of trading in a better regulated market. I’m sure other investors will too.

[turokman]

Yeah they are going from PINK to the OTCQB

Here is the application, they just filed :

https://sec.report/otc/financial-report/268189/OTCQB-Certification.pdf

[stupified777]

Any idea when this thing hits the OTC again? It’ll be nice getting this off the pinks again. I anticipate increased volume from that move. I’m liking what I’m seeing so far with the recent moves. Anything over $2.00 to $3.00 and I think I’m satisfied for the short term. Buyout price over that would be great. With a company thats set up to start making money, 1.0 - 1.5 x sales certainly isn’t out of the question and would take us to about double the pps now. Profitable company in this space, showing healthy revenue growth, should command a market valuation of no less than 2.0 - 4.0x sales. $MSLP

[MakeItRain88]

Was able to watch a couple of clips. Appreciate the breakdown!

[turokman]

I watched it. You can find a link to the replay on twitter . Check it out it’s definitely worth the watch and made me bullish for the company.

Here is a quick recap with my notes:

ICR conference overview:
* CEO Ryan Drexler has put in over 20 million of his own money into the company .

* Ryan wants to communicate with shareholders more frequency expect updates in next 60-90 days

* Believes company has strong “brand value” that he wants to leverage with partnerships

* Big box retailers are approaching Musclepharm , and companies that they have done business with in the past.

* Lots of industry consolidation in the sports nutrition industry , musclepharm was early on the trend by switching to online and big box retailers

* Costco line was renewed with chocolate milk . Previously they were selling cookies and cream .

* Re-signed with BJ’s Wholesale

* Drexler has been working 7 days a week to fix the COGS issues and now that they are fixed - they want to grow again.

* Expect updates soon

[Madcowelixir]

At this rate it is going take quite a while to sell off that ~790K shares of Treasury Stock that Ryan transferred to a broker who is commissioned to sucker mooches in as high as possible before the elevator down.

[MakeItRain88]

Does anyone know if there will be a recording of this? Or is it a conference participants only?

[turokman]

MusclePharm to Participate in Fireside Chat at the 23rd Annual ICR Conference

MusclePharm Corporation
Wed, January 6, 2021, 9:00 AM EST·1 min read
CALABASAS, Calif., Jan. 06, 2021 (GLOBE NEWSWIRE) -- MusclePharm Corporation (OTCMKTS: MSLP) (the “Company”), a global provider of leading sports nutrition & lifestyle branded nutritional supplements, today announced that Ryan Drexler, the Company’s President and Chief Executive Officer, will host a fireside chat at the 23rd Annual ICR Conference.

The conference will be held January 11-14, 2021 in a virtual format. The Company’s fireside chat will be held on Wednesday, January 13, 2021 at 9:30 am Eastern time. The Company will also be participating in virtual one-on-one and small group meetings.

https://finance.yahoo.com/news/musclepharm-participate-fireside-chat-23rd-140000031.html


Here is some info on the ICR conference:

For those who are interested in attending the conference for the first time, the ICR Conference is a unique platform where public and private company management teams, institutional investors, sell-side research analysts, investment bankers, private equity professionals and select media connect with one another with the goal of understanding consumer trends and public company prospects as the year begins. Historically the conference has been consumer focused but look forward to expanding to our Real Estate, Tech and Healthcare sectors in 2021.

In 2020 we saw a strong turnout across all attendee groups – over 2500+ total attendees and over 170 public and private companies there to tell their stories. The presence of Cannabis companies grew across both public and private days with over 30 companies in attendance. The packed schedule featured multiple dynamic panels and discussions on prevailing topics including SPACs – Beyond the Acronym: What Companies need to know in 2020, How Brick & Mortar is Evolving to Succeed in 2020 and Beyond, and a 2020 Proxy Season Preview & State of ESG. We also welcomed Oz Pearlman of Americas Got Talent to wow the crowd, and Guy Raz, host of NPR’s How I Built This podcast to speak. During our evening welcome and networking receptions, we were treated to delicious meals from The One Group’s STK and Kona Grill and enjoyed “Damn Good Taco’s” from Torchy’s.

Attendees have long valued the ICR Conference for its unique format and setting. The conference is an invite-only event open to institutional investors, private equity professionals, presenting companies, select media and equity research analysts. Investment bankers and institutional salespeople may attend from sponsoring banks only.

All attendees are approved and qualified. The ICR Conference 2021 will be held January 11-14, 2021.

https://icrconference.com/about-us/


Interesting that $MSLP is about to conference with a bunch of institutional investors. Seems like the Drexler roadshow is about to start.

$MSLP

[SLC-JD]

My guess is that Drex is aggressively looking for a buyer, and will end up taking a massive loss if he succeeds.

While Madcow has been predicting imminent bankruptcy for years (including as some sort of scheme that Drex was supposedly engineering), the current financials and 'hidden' disclosures indicate that the company really is circling the drain. Positive revenues don't mean a thing when you're essentially ignoring (and subsequently writing off) COGS. Settlements likewise are meaningless if you never pay them. At present, given the A/R financing and multitude of settlements on the books, I'd guess that the Company would be operating a loss if it honored only those settlement agreements (to say nothing of its current/ongoing vendor obligations).

With Drex seemingly running low on cash as well, I'd wager that he's trying like hell to fire sale the whole shebang to a third party looking to capitalize on the only remaining value in the organization - the distribution relationships. This would be the most likely reason for him to actually move forward with publishing the past due Ks and Qs...well, that and the pending WW litigation.

Assuming that the asset hiding scheme alleged in Drex's sister's divorce is true, I wonder how she's feeling about his management of her portion of the family fortune.

[turokman]

The problem with your bear thesis is assuming more bad decisions are being made . From my point of view , Musclepharm has been making strides in the right direction , especially lately , and fixing the problems that plagued them from the past .

We’ve seen them come current on filings and they are now not even considered a penny stock because of their reporting .

We’ve seen them make a bigger push to direct sales on their website , and increasing their presence on Amazon including their Combat protein now being an “Amazon’s choice” product .

We have seen the contract with Costco being renewed with a new product , now selling their new flavor Chocolate Milk in stores .

We have seen them turn cash flow positive .

We have seen them settle many lawsuits from bad decisions made in the past by former executives. We have not seen new bad decisions being made .

If the company has made it this far , why would they throw in the towel? Wouldn’t they have given up prior to filing the 10Q’s and spending all that money getting financial shop in order ?

The company is small , thus its easier to turn around . At this point , their expenses are so minimal , how could they not be profitable? There are other supplement companies in this space that make money and are profitable. What bad decisions are currently being made that has this company thinking it will go “poof” as you say ?

Your repeated claims of fraud and imminent bankruptcy for the past 3 years haven’t come to fruition , and the company seems to be turning around . I’ll patiently wait for the stock price to reflect the moves Drexler & team have been making .

$MSLP

[Madcowelixir]

turok

Thank you for posting more fraudulent MSLP results except at least now Ryan is telling you they are 100% not accurate.

The results you cite are padded by selling off of every salable asset including fixtures, shelving, warehouse equipment, office equipment because MSLP can't afford rent any longer and closed all their facilities, made fake inventory adjustments, created non-cash fake gains after losing several million$ in lawsuits by suppliers as Revenues continue to crash, and a plethora of additional fake gains and financial folly.

Of course this tidbit is deeply buried in the report for intelligent investors who don't just read the headlines or PR propaganda from dubious sources. Straight from the CEO's report




MSLP has NO Cash, NO Inventory and NO Accounts Receivable as they sold the AR at a 20% discount and hocked all the Inventory to Prestige and Crossroads and already spent all the money.

Yet MSLP owes and much of which is severely delinquent on over $40m to Suppliers, shylock lenders, past due accounts, Ad & Marketing Fees from deals that expired years ago and produce zero value today, IRS, etc...

Death Spiral as MSLP has closed up shop because although unsecured suppliers can be stiffed and Ponzi'ed, landlords evict and seize the assets (MSLP sold them all first before abandoning the premises).

MSLP has only stayed in business under CEO Ryan by committing fraud and larceny. They steal merchandise from suppliers, sell it, and then don't pay the supplier invoices for the product.

As soon as that tactic fails to work and they run out of manufacturing dupes, MSLP is done just like the Ponzi Scheme they are.

[turokman]

Ryan Drexler, President and Chief Executive Officer, stated, “Our management team has spent the last two years dramatically restructuring MusclePharm and are now generating positive cash flow and well positioned for long-term profitable growth even in the current COVID-19 pandemic environment. The business turnaround was driven by reducing low margin sales into inefficient channels, increasing gross margins, decreasing operating expenses and improving our overall EBITDA. We have many of the leading brands in nutrition but we needed to do a much better job of realizing the value of our brands by reducing product discounts and being more efficient in our promotional activity, reducing SKU’s that are not properly positioned, and better aligning our operations with repositioned top-line growth.


$MSLP

http://ir.musclepharmcorp.com/prviewer/release_only/id/4548989

[turokman]

MusclePharm Announces Third Quarter 2020 Financial Results
December 01, 2020

CALABASAS, Calif., Dec. 01, 2020 (GLOBE NEWSWIRE) -- MusclePharm Corp Inc. (OTCQB: MSLP), a global provider of leading sports nutrition & lifestyle branded nutritional supplements, today reported financial results for the quarter and nine months ended September 30, 2020.

The following are key financial highlights for the period. Reconciliations of certain GAAP to non-GAAP measures are provided later in this press release.

Third Quarter 2020 Compared to Third Quarter 2019

Revenue, net was $16.1 million compared to $21.2 million.
Gross margin improved to 31.2% compared to 7.2%.
Net income was $678,000 compared to a net loss of $(5.1) million.
Diluted income per share was $0.01 compared to diluted loss per share of $(0.27).
Adjusted EBITDA was $1.0 million compared to negative Adjusted EBITDA of $(4.1) million.

http://ir.musclepharmcorp.com/prviewer/release_only/id/4548989

$MSLP

[turokman]

MusclePharm Hires ICR Inc. as Investor Relations Advisor

CALABASAS, Calif., Dec. 07, 2020 (GLOBE NEWSWIRE) -- MusclePharm Corporation (OTCMKTS: MSLP) (the “Company”), a global provider of leading sports nutrition & lifestyle branded nutritional supplements, today announced that the Company has retained ICR, Inc., a leading strategic communications and advisory firm, to assist with its investor relations program.

Ryan Drexler, President and Chief Executive Officer, stated, “We are very excited to be working with a distinguished communications firm like ICR to build out our investor relations program and help position our Company. The past few years have been spent restructuring the Company and strengthening our leading brands and we believe ICR will be instrumental in broadening our reach with the investment community and increasing our public profile with shareholders.”


https://finance.yahoo.com/news/musclepharm-hires-icr-inc-investor-140000938.html

$MSLP

[Madcowelixir]

List of MusclePharm suppliers who Ryan stiffed that I can cite off the top of my head. I have probably forgotten a few. MSLP either lost in court or were forced to enter into settlement as MSLP teeters on Bankruptcy.

Capstone $21.5m

Bakery Barn $1m

ThermoLife $1.6m

4Excelsior $14m

Nutrablend $3.1m


List of partners, sponsors, endorsors, employees who Ryan stiffed off the top of my head. Ryan either lost in court or were forced to enter a settlement.

Tiger Woods

Arnold Schwarzenegger $3m

Johnny Manziel

Manchester City FC $8m

Richard Estrella

White Winston (goes to court in February)


MusclePharm has a 0% winning percentage in litigation as a defendant

MusclePharm owes the IRS $5m in back taxes not on the balance sheet

[Madcowelixir]

When you have a Going Out of Business yard sale when you can't afford rent any longer and are forced to vacate your office and warehouse before you are evicted. Sell the shelves, racks and office supplies. MSLP now has $48k of hard assets on the balance sheet and those are likely unsalable and in the dumpster. I believe I read in filing, the landlord of the former MSLP Canada warehouse sued MSLP for non-payment of rent.

[Madcowelixir]

Revenues down -21% overall YOY and down both domestically and internationally. Costco down, Amazon down, IHerb down. Ryan's surfing and mountain biking are up though. Put your trust in a trust fund baby.

[Madcowelixir]

Chocolate Milk not saving the day at Costco. Costco is now 50% of total MSLP sales though as all the other channels have cratered. Not good when your dominate channel and half of all your sales are down -$2.1m.

[Madcowelixir]

MSLP only has $46k of hard assets left on the balance sheet. The rest are make believe like "intangible" or "lease rights". No cash, no inventory, $21m of Current Accounts Payable and $6.4m of severely past due Accounts Receivable. Now the 3 lawsuit losses payments kick in. Do the math.

White Winston litigation goes to court soon too.

[Madcowelixir]

Sales down over 33% in 12 months domestically. No wonder MSLP was forced to close its headquarters because they couldn't afford rent any longer and sold off nearly every asset. Cut all advertising and has stiffed nearly every supplier. MSLP is now a virtual company and will go poof soon.

[Madcowelixir]

Ryan is at least 2 payments behind on his property taxes? Not good.

LA county property taxes are due April 10 and December 10 each year.

Ryan's home showed he was delinquent on his property taxes on his April payment (maybe longer) and is still delinquent past the December 10 payment too according to LAC official website.

Big Baller in financial trouble?

Here is the up to date screen shot

[turokman]

$MSLP also traded at 0.34 today. You cannot take the OTC price seriously as we both know it can be heavily manipulated. I see increasing volume with a company that is headed the right direction.

Please show me how iHerb channel is discontinued, looks well and alive to me:
https://www.iherb.com/c/musclepharm

[Healthyfitness11]

That is great DD. Thanks for posting that. I was looking at adding this to my portfolio as I have a lot in the fitness and health industry.

[Madcowelixir]

IHerb channel is discontinued. No margins.

MSLP Revenues are down another -20% YOY so so much for chocolate milk moving the needle.

MSLP domestic revs are just barely above $10m a quarter now and likely to fall under that benchmark soon.

MSLP is likely to fall below $40m in annual domestic sales soon.

CEO Brad used to post over $50m in a single Q. Ryan's Ponzi fake orders and numbers are -70% below CEO Brad's real numbers.

Combat Crunch is less than 10% of total revenue so that supplier change when Ryan stiffed the manufacturer killed that product.

Block trade of MSLP Treasury Stock was insider trade and not market value much like Drexler's conversion at $1.11 recently.

MSLP just traded at .15 cents today

Over $800k of "revenue" in Q3 10-q was non-cash "gains" on losing 2 more supplier lawsuits for non-payment and on selling gym equipment, office furniture and other "assets" and an inventory adjustment that was likely fake just like nearly all the MSLP financials. There is no profit.

Dilution is rampant and now 49m shares OS.

Lawsuit settlement payments to the two manufacturers Ryan stiffed begin in January and ThermoLife still hasn't been paid the $1m+ they are owed though MSLP was forced to post a bond recently by the courts.

Manchester City Footy is still owed $1m that is past due for 2 years on the sponsorship deal.

MSLP continues to hock anything that is not tied down such as nearly all the Accounts Receivable, Inventory, etc at shylock rates of 15%-18% interest. Both shylock lenders have recently cut the available credit limits substantially as MSLP revs continue to implode in spite of Ryan's admission that orders were faked and the revenue was bogus and fraudulent.

MSLP has no cash therefore only has $1m in total inventory on hand and 50% of that total was pledged as collateral for $500k in loan at 18%. Death Spiral.

[turokman]

The 900k share block that was traded was at 0.32 . Not .15 , not .21. Those were the paint job. The stock is done going down , clear skies ahead , $MSLP

Did you see they are now selling Chocolate Milk protein at Costco? It’s been cookies and cream for the longest time. It’s pretty evident the relationships at Costco , Amazon , and iHerb have all strengthened . Musclepharm is here to stay and those who remain and do their own due diligence will be pleasantly rewarded . $MSLP

[Madcowelixir]

What did MSLP mean when they buried this in Q3 2020 10Q?

[Madcowelixir]

turok is posting not even close to accurate information in his post but who cares, huh?

turokman Tuesday, 12/08/20 08:08:09 PM
Re: Madcowelixir post# 80510 0
Post #
80511
of 80522
Drexler has cut costs across the board , Madcow to show that this company can indeed be profitable.

Drexler has loaned the company 21 million just in convertible notes . His average on 21 million dollars of stock is $0.72 . Stock is at $0.40 .



18 million convertible note at $1.11/ share —> 16.2 million shares

3 million convertible note at $.23 / share —> 13 million shares

Drexler’s average :
(21 million total invested / 29.2 million shares ) = 0.72 <— Drexler’s average

How convenient for turok to leave out the following:

Ryan's bought 1m shares open market purchase in early 2015 BEFORE he was considered an insider and thus not reported on the insider log, where his basis is $4.13 a share and he bought/leased another 400k shares @ $5.48 in addition to the insider log below:




---------------------------

[Madcowelixir]

Oh, that profit turok is cheering is not really a profit but another fake gain on losing lawsuit for not paying MSLP suppliers. MSLP doesn't pay suppliers for 2 years, gets sued, loses, takes a fake $518K gain and then applies it to a single quarter and declares a profit! What a business model.

[Madcowelixir]

Another MSLP lawsuit?

Brad threw his former best friend, college roommate and workmate when both worked for Ryan's daddy at Country Life, Brian Casutto under the bus for some of the now admitted MSLP fraud and Ponzi Scheme; like Ryan didn't know or authorize it.

Look for a new lawsuit imminently.

[Madcowelixir]

Yesterday's transaction. You can see both before and after the 800k transaction when MSLP liquidated 100% of the MSLP Treasury Stock, the bid and the ask both cratered until the fake paint the tape close transaction. Over 900k shares of sell volume and the buy volume was transacted in low .20s.

Bid dropped to .15 cents and Ask is .21 for any retail mooches.

Not good news

[Madcowelixir]

Remember when CEO Brad diluted MSLP to 3m Outstanding Shares?

CEO Ryan official OS is now over 49m shares.

Nice turnaround plan

[Madcowelixir]

MSLP selling all of its Treasury Stock is not great news. They either cashed out a balance sheet asset they feel will not appreciate or they need the cash immediately to begin to pay off both lawsuit settlement losses. Both bad news.

[Stock_Dog]

Great day

[turokman]

884,000 shares traded at 0.32 today . Wow . Largest volume day I have ever seen here ..

Volume before price .

[turokman]

Welcome back to the party ! Onward.

[Stock_Dog]

Bought more today.

[turokman]

-- Adjusted EBITDA was $2.4 million compared to negative Adjusted EBITDA of
$(11.6) million.

Ryan Drexler, President and Chief Executive Officer, stated, "Our management team has spent the last two years dramatically restructuring MusclePharm and are now generating positive cash flow and well positioned for long-term profitable growth even in the current COVID-19 pandemic environment. The business turnaround was driven by reducing low margin sales into inefficient channels, increasing gross margins, decreasing operating expenses and improving our overall EBITDA. We have many of the leading brands in nutrition but we needed to do a much better job of realizing the value of our brands by reducing product discounts and being more efficient in our promotional activity, reducing SKU's that are not properly positioned, and better aligning our operations with repositioned top-line growth.

Mr. Drexler continued, "We have strengthened our scalable platform in 2020, with a focus on increased profitability. Our omni-channel strategy is working and enables us to capture a greater share of this large and growing space. We also believe we are very well positioned to utilize our leading brands to expand outside of the nutraceutical space in the near future."

[turokman]

Drexler has cut costs across the board , Madcow to show that this company can indeed be profitable.

Drexler has loaned the company 21 million just in convertible notes . His average on 21 million dollars of stock is $0.72 . Stock is at $0.40 .



18 million convertible note at $1.11/ share —> 16.2 million shares

3 million convertible note at $.23 / share —> 13 million shares

Drexler’s average :
(21 million total invested / 29.2 million shares ) = 0.72 <— Drexler’s average


Good luck to all. . $MSLP

[Madcowelixir]

10m more shares of dilution!!!! just waiting to be converted.....

This can will likely occur every six months to dilute WW and Wynnefield as Ryan was very nearly voted out last shareholder meeting vote. Not good for shareholders (see red below)

Item 3. Source and Amount of Funds or Other Consideration.



On November 29, 2020, the Issuer issued to the Reporting Person a convertible secured promissory note, in the original principal amount of $2,871,967 (subject to adjustment as provided in such note) (the “Note”). The Note bears interest at the rate of 12% per annum. Interest payments are due on the last day of each quarter. At the Issuer’s option (as determined by its independent directors), the Issuer may repay up to one sixth of any interest payment by either adding such amount to the principal amount of the Note or by converting such interest amount into an equivalent amount of Common Stock. Any interest not paid when due shall be capitalized and added to the principal amount of the Note and bear interest on the applicable interest payment date along with all other unpaid principal, capitalized interest, and other capitalized obligations.



Both the principal and the interest under the Note are due on July 1, 2021, unless converted earlier.



Mr. Drexler may convert the outstanding principal and accrued interest into shares of Common Stock at a conversion price of $0.23 per share at any time. The Issuer may prepay the Note by giving Mr. Drexler between 15 and 60 days’ notice depending upon the specific circumstances, subject to Mr. Drexler’s conversion right.



Item 5. Interest in Securities of the Issuer.



(a) The Reporting Person beneficially owns 31,002,836 shares of Common Stock, representing approximately 68% of the Common Stock. The percentage of shares of Common Stock reported as being beneficially owned by the Reporting Person is based upon 45,754,214 shares outstanding as of November 29, 2020, as reported by the Issuer to the Reporting Person.



CUSIP No. 627335201 13D/A


The Reporting Person is President, Chief Executive Officer and Executive Chairman of the Board of Directors of the Issuer. In these capacities the Reporting Person takes, and will continue to take, an active role in the Issuer’s management and strategic direction. In addition, in connection with his employment with the Issuer, the Reporting Person may be entitled to cash and other non-equity compensation in connection with a sale of the Issuer or other transaction of the nature described below.



Other than as described above, the Reporting Person does not have any current plans or proposals, but may in the future propose one or more actions, which would result in any of the following:



(a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer;

(b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries;

(c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries;

(d) any change in the present Issuer’s board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board;

(e) any material change in the present capitalization or dividend policy of the Issuer;

(f) any other material change in the Issuer’s business or corporate structure;

(g) one or more changes in the Issuer’s charter, bylaws or instruments corresponding thereto or other actions to the extent they may impede the acquisition of control of the Issuer by any person;

(h) causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association;

[turokman]

December 07, 2020
MusclePharm Hires ICR Inc. as Investor Relations Advisor
CALABASAS, Calif., Dec. 07, 2020 (GLOBE NEWSWIRE) -- MusclePharm Corporation (OTCMKTS: MSLP) (the “Company”), a global provider of leading sports nutrition & lifestyle branded nutritional supplements, today announced that the Company has retained ICR, Inc., a leading strategic communications and advisory firm, to assist with its investor relations program.

http://irdirect.net/prviewer/release_only/id/4556867

$MSLP

[turokman]

More eyes on this one as we just neared a 52 week high. Hopefully we get some more updates out of Drexler , you have to think he is going to follow up with some more news .

$MSLP

[turokman]

Products Sold on Amazon, Costco, Muscle&Strength:

Great reviews:


MusclePharm Combat Protein Powder, 5 Protein Blend, Chocolate Milk, 4 Pounds, 52 Servings
Visit the Muscle Pharm Store
4.6 out of 5 stars 8,996 ratings

https://www.amazon.com/MusclePharm-Combat-Protein-Powder-Essential/dp/B003BVI5FW


MusclePharm Combat Protein Powder, 6 lbs
Item 1434537
4.7 out of 5 stars.

https://www.costco.com/musclepharm-combat-protein-powder%2C-6-lbs.product.100466807.html




A MusclePharm Product
100% Gluten-Free, High Quality and Superior Tasting Protein Bar!*
Contains 20g of muscle building protein
No artificial flavors or dyes
Delicious tasting flavors
100% gluten free
5,922 REVIEWS

https://www.muscleandstrength.com/store/mp-combat-crunch-bars.html



$MSLP

[turokman]

idk how you can keep restating the obvious. Yes, there were problems. They are being cleaned up by Drexler one by one and the 10-Q reports are there. They cut costs just like they laid out in the article. Company is still selling products on Amazon, Costco, Walmart, Bodybuilding.com, etc etc. Real company, real profits.

This company is not the same on as it was run under Pyatt. It's not a sexy tech company. It's a profitable company being traded for 1/10th of what it's worth.

At $14, it was a sell, and you were right on that.

At $0.30 it's a buy, I'm confident I will be right.

$MSLP

[Madcowelixir]

So when MSLP agreed to settle lawsuit and has to start paying $1m a month settlement to Nutrablend for $million$ in unpaid invoices beginning in Q1 2021 on Revenues booked in 2018, 2019 and 2020 what happens to the bottom line going forward?

Same with the long list of suppliers that were stiffed and have filed lawsuits against MSLP.

What expenses can you cut next when you had to run from and invest $0 in lease, advertising and marketing, R & D, etc....now after not filing 10Qs for a couple years due to fraudulent accounting?

How did cost of goods sold (COGS) go from 89% in 2019 to 67% in 2020? Unpaid invoices and lawsuit settlements that payments are now due going forward even though the revenue was booked in previous Qs. It's just more fraudulent numbers that MSLP has now admitted to posting previously.

$400 of total reported trading today. Sounds like a rocket ship ready to take off for a long time.

Old business adage. You can't shrink your way to profitability.

Drexler has "shrunk" revenues from $167m when he became CEO to $65m
in just 5 years. Downsizing is not Growth and is not a path to longterm Profitability.

[turokman]

Why do you not post net income next to your revenue numbers? Drexler laid out the plan to cut unprofitable sku's and now they are showing a profit. Drexler did what Pyatt couldn't.

A major way they built the business was through very large endorsements. In the beginning that approach worked out well, but eventually they had to start paying for those endorsements and the size of the company didn't match up. They were thinking sales would double, triple, quadruple... and while sales did go up nicely, the endorsements were a tremendous expense.

That's also when they increased the number of SKUs. Take Combat Protein, one of our most valuable SKUs. The thinking was, "We have 7 SKUs, so why not 20? And then why not flavor extensions: Peach Swirl, Raspberry Swirl..."

That led to a massive amount of inventory. We had 400 SKUS and that, coupled with the endorsement deals, drained a tremendous amount of money from the company. The brand was everywhere. With Tiger Woods, Arnold, the UFC, etc, the brand recognition was great... but all those expenses made the company extremely unprofitable.

Top line is great (especially at first) but eventually the bottom line is everything.

https://www.inc.com/jeff-haden/one-step-back-many-steps-forward-how-to-turn-treme.html

$MSLP

[Madcowelixir]

MSLP acquisition

Why buy a falling knife?

2014 Revenue: $177m

2015 Revenue: $167m (Brad Pyatt's final year as CEO)

2016 Revenue: $132m (Ryan Drexler becomes MSLP CEO Q1 of 2016)

2017 Revenue: $102m

2018 Revenue: $88m

2019 Revenue: $79m

2020 Revenue: $65m projected ($49m thru Q3 2020)

Ryan's tenure as CEO has taken annual revenues from $167m under Pyatt to $64m under Drexler in 5 years. Down -$103m and -62%. Quite a performance considering the admitted fraud accounting that inflated Drexler's numbers.

No wonder there has been zero acquisition interest. By the time a transaction would initiate and close, the deal would we severely over-valued.

Balance sheet is upside down -$40m and future $million$ in legal and IRS liabilities are pending. Suppliers have cut off MSLP due to invoice non-payment.

50% of the total MSLP revenues are associated with Costco and those revenues are falling. Combat Crunch Bar sales have cratered. Down to $6m annually and falling.

MSLP can't afford "rent" any longer nor "marketing and advertising" and has completely run out of cash and salable assets. MSLP has now only $1m in inventory on hand to churn at a time as revenue is clearly continuing to contract. Ryan is personally in financial crisis as his personal home is delinquent on property taxes.


Ironically.....Brad Pyatt started a new protein bar company and within 3 years sold his 50% share for a net $6m which is worth more than MSLP.

[turokman]

Mr. Drexler continued, “We have strengthened our scalable platform in 2020, with a focus on increased profitability. Our omni-channel strategy is working and enables us to capture a greater share of this large and growing space. We also believe we are very well positioned to utilize our leading brands to expand outside of the nutraceutical space in the near future.”

$MSLP

https://www.sec.gov/Archives/edgar/data/1415684/000149315220022755/ex99-1.htm

[turokman]

Madcow, it's a thinly traded stock with limited market makers hence the wide bid/ask spread. Wynnefield Capital has been buying as shown by the recent filings:

The Wynnefield Reporting Persons have purchased shares of Common Stock during the last 60 days as follows:


Name Transaction Date Number of Shares Price Per Share
Wynnefield Partners I Purchase 10/29/2020 41,097 $0.0998
Wynnefield Partners I Purchase 10/30/2020 19,763 $0.10
Wynnefield Partners Purchase 10/29/2020 26,430 $0.0998
Wynnefield Partners Purchase 10/29/2020 12,710 $0.0998

https://www.sec.gov/Archives/edgar/data/1251565/000110465920120965/tm2034430d2_sc13da.htm

$MSLP

[Madcowelixir]

Trades are as fraudulent as the MSLP reported numbers. As the reported trade price and "ask" goes up, the "bid" crashes. Look at the near 50/50 split and after 2 hours of trading the.14 cent bid that is actually lower than the .18 cent open on this fake churn by the market maker. It is hilarious that since 2 minutes after open, only 1 trade was reported that was NOT the fake .30 or .51 cents and it was insignificant volume. Those trades are market maker churn trying to attract suckers for a dump. MM is not even trying hard as you can add up the trade stack volumes and they are even 00 numbers. Look at trade lines 26 and 27 for example. perfect 50,000 but what happened on the bid/ask on the second trade over the first. It actually declined to .12 cents. Not a real buyer trying to accumulate. They are fake trades This is Ryan's desperate hail mary as he is in personal financial distress and can't pay his property taxes.