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Why would he sell at .70? Unloading company for just over $20 million, netting him $13 Million? Although I do feel there’s something with the timing in his conversion and the issuance of the board members stock awards, I don’t feel .70 a share is a realistic sell price. Maybe a realistic offer that they’ve received but not an offer that they’ll accept. $1.50? Ehhh $2.00? Ehhh optimistic? Maybe.
Do I think they could get 1x revenue for this company? Probably not...not with Drexler and his cronies running it and current financial health of the business. Do I think that another company would buy $80 to $100 million in sales for a discount at $1.5 or $2.00 a share? I do think that’s possible.
The fact that there has been no comment about Drex's conversion/dilution/takeover says everything that needs to be said about this "company". Expecting to see that tender offer at $0.70/share any day now...
That is because 20% owner of the OS WhiteWinston has filed another restraining order against Drexler for hiding the books as he being investigated for fraud in his sister's divorce. This order should be granted immediately but the Justice System is full of judges that share a common heritage with Drexler so letter of law is just something that can be ignored.
Some buying the last couple of days . Only positive I can say about this POS.
I've been posting here for 4 years now that that the Financials are fake and I proved it many times.
Given that the former auditor has indicated that both the FY 2018 and the 2019 financials filed to date are unreliable (and with nothing from the company save a "we disagree" statement to counterindicate the auditor's conclusion) I'd say that's arguably $2MM too high.
Anyone else-with-miniscule shares/value get-hit-with-$38.00 Reorganization-Fee?I have ONE share that's now worth .21c and didn't sell b/c it wasn't worth the commission obv. but TDA hit me with the full fee same as if I owned millions of shares - did you or others experience that? This is highway robbery that I don't think is legal or shouldn't be - anyone?
Haven't paid attn. to this company in a while~ looks like for those who do own more shares it's the usual post R/S bump & crash but value is way down from pre-R/S.
Best Bid is $ 0.15 cents currently. Puts market cap around $2m. That is what the best bid is telling you the company is worth today.
So Ryan's Accounting Firm called him a fraud and a criminal and resigned. Nice. Been telling you the Ponzi fraud has been going on for years. I am surprised that the SEC investigation or the TRO applied by White and Amerop hasn't been granted yet. That judge must share a common heritage with Ryan.
CEO Ryan will continue to hide financials until Billett/WW/Amerop suit has real action.
What are Vegas odds on all/any of the past due filings being submitted by the 30th?
I realize the lawsuits. I have read and reviewed each action and update on PACER.gov. My comment reflects Amer/WW and BB are sharing information regarding the lawsuits. I am amazed the judge sided with Ryan on the injunction. I shared the NY Post article on the alleged transfer of $30m of assets to Ryan from Jodi in 2016. You are incorrect in Jodi "loaning" money to Ryan. Jodi is claiming she has no money nor loans/equity to anyone and has no significant marital assets to share with Bradford Billet.
The SEC should step in immediately and appoint an overseer of the company. MSLP has a long history of neutered SEC actions.
I also posted all screen shots of the Brad Pyatt bankruptcy filings here back in 2015.
Close. They’re maintaining separate actions (WW alleged Drex is self dealing, Billet alleged that Drex utilizes marital assets in his loans to the company), but each has sited the other in pleadings, and both are asking their respective court to appoint a receiver to run the show and prevent Drexler from converting. WW has been trying to use discovery from the Billet trial, which Drew is fighting tooth and nail.
Until these cases are resolved, I don’t see the $.35 tender happening. Too much is up in the air WRT Drexler’s shares.
You know what this is about right? Amerop & White Winston joined in the lawsuit with Brad Billet against Ryan Drexler/ Jodi Drexler-Billet. Ryan is now withholding financials during this personal lawsuit because they have him and Jodi on fraud. The SEC is asleep at the wheel again.
No much has happened - board is even fairly quiet nowadays. I am still disappointed such a promising company was run into the ground. I was one of the initial investors when the company first launched and have been out of the trade for quite some time. I did happen to catch a nice run when it looked like MP was about to become a household name and able to hold a $100m+ market cap. The float is still tiny and a couple smart moves by management and this could catch fire again. This problem is the management is subpar, the goodwill associated with the MP name has been ruined by failed product launches and bad PR and the history of the company creates distrust with investors.
My call is still that the shares close below .25 for several months and then a buyout is offered at .35.
Another CEO Ryan MSLP fighter tests positive for steroids. This time Neil Magny. When is the SEC and the FBI going to step in on this corrupt organization?
Even CEO Brad used to announce earnings report date 7-10 days ahead and scheduled conference call. How do you like CEO Ryan and his "shareholder value"? Anyone awake at the SEC or all they all monitoring Elon's tweets?
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.
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