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I'm all for creating a counter narrative, but you're citing estimated restated numbers for the nine months ended September, 2018*. They are entirely irrelevant in establishing value as of March 30, 2020.
*this also ignores the fact that the prior audit firm fired them because of lack of sufficient controls and/or willing misrepresentations.
Musclepharm's Instagram is Gaining Lots of Traction
https://www.instagram.com/musclepharm/
4,337 posts
634k followers
From a Recent workout video they posted:
https://www.instagram.com/p/B-VHcKQpBTU/
8,672 views
$MSLP
9 Month revenue is 74-76 million, market cap is 5 million. This is trading at 1/20th of annual sales.
The Company plans to restate its unaudited condensed consolidated financial statements for the Restated Periods by filing an amended Form 10-Q for the period ended September 30, 2018 (the “Amended Form 10-Q”). It was determined that similar errors existed in the quarter ended June 30, 2018, but the impact was not deemed material to that period. We expect that certain amounts in the condensed consolidated financial statements for the Restated Periods, which will be included in the Amended Form 10-Q, will differ from the amounts reported in the original filing. Revenue, net, as restated, for the nine-month period ended September 30, 2018 is expected to be in a range of approximately $74 million to $76 million.
Recent stock slide is from media advertiser selling shares which it has finally exhausted. It's been under immense selling pressure.
On November 30, 2018, MusclePharm Corporation (the “Company”) entered into an Agreement for Equity in Exchange for Services (the “Agreement”) with American Media, LLC (the “Investor”). Pursuant to the Agreement, the Company agreed to issue to the Investor 928,572 restricted shares of its common stock, par value $0.001 per share (the “Shares”), at $3.23 per share in exchange for $3,000,000 worth of professional media support and advertising services. The Shares, which will be issued to the Investor on January 1, 2019, will vest on a quarterly basis in an amount equal to the greater of (i) the actual value of advertising placed by the Company in a quarter during the two-year period commencing on January 1, 2019 and ending on December 31, 2020, subject to a goldbond cap of $3,000,000, and (ii) $375,000. No underwriters or private placement agents were involved in this transaction.
Just 3 months ago, MusclePharm lost it's class action suit brought by customers for false advertising on protein content. MusclePharm is hiding how much the customers were awarded and why we haven't seen a single SEC filing in almost 5 months.
With restructuring charges put to rest, MusclePharm’s turnaround plan gains credence
23-Apr-2018 By Hank Schultz
Embattled sports nutrition brand MusclePharm has turned a corner in its recovery efforts, according to CEO Ryan Drexler. The company, whose continued existence at one time seemed to hang in the balance, is on a solid growth curve, he said.
HTTPS://WWW.NUTRAINGREDIENTS-USA.COM/ARTICLE/2018/04/23/WITH-RESTRUCTURING-CHARGES-PUT-TO-REST-MUSCLEPHARM-S-TURNAROUND-PLAN-GAINS-CREDENCE
$MSLP
MSLP has been sued by National Bank Holdings Canada in February 2020. Ryan continues to stiff and defraud.
PHOENIX, Dec. 17, 2019 /PRNewswire/ -- On December 3, 2019, the Maricopa County Superior Court entered FINAL JUDGMENT in favor of ThermoLife International, LLC and against MusclePharm Corporation in the total amount of $1,680,000, including accrued interest, attorneys' fees, and costs.
The entry of FINAL JUDGMENT in ThermoLife's favor brings to the end almost three years of litigation related to MusclePharm's failure to pay ThermoLife for ingredients that it was obligated to pay for under the terms of a 2015 License and Purchase Agreement.
MusclePharm was represented in the lawsuit by the New York law firm of Kasowitz Benson Torres. The Kasowitz law firm describes itself as the "pre-eminent litigation firm in the nation." MusclePharm, and its New York attorneys, defended the case vigorously, with MusclePharm asserting a counterclaim against ThermoLife claiming over $5,000,000 in damages. After expert testimony revealed, as the Maricopa County Superior Court found, no reasonable juror could find in favor of MusclePharm on its counterclaim, the Court granted ThermoLife Summary Judgement and dismissed MusclePharm's unsupported counterclaim against ThermoLife, and ThermoLife's claims against MusclePharm proceeded to trial.
https://www.prnewswire.com/news-releases/thermolife-awarded-nearly-1-7-million-dollars-in-lawsuit-against-musclepharm-300975881.html
Under $100 buys the total volume traded on MSLP for the past months. Your trading fees would be higher than you stock purchases. Keep dreaming. HFT pings are the majority of the shares traded anyway in lots of 1-60 shares and no retail. If retail investor was buying he would be paying a retail trading fee ($9-$40) on a total purchase of 2 cents of actual stock. No "all or nothing" trades are filled on this equity. The stock doesn't even open or have a bid on average of 1 out of every 3 trading days.
Good luck with strategy.
Carl...
What fundamentals? Please expound.
MSLP owes over $30m to shylock vendors who hold all the inventory and Accounts Receivable as collateral. MSLP just lost another lawsuit to Thermo Life for $1.7m and has exhausted all appeals. Final judgement was awarded in November. There are still 2 pending lawsuits exposing MSLP to millions in judgements.
MSLP hasn't filed any financials in almost 2 years but were losing massive money on revenue 2 years ago. Margins were already crap and MSLP has converted to the majority of sales in the Amazon and Costco channel over the past 2 years which are huge net losers.
MSLP has no assets. They are all pledged as collateral to shylock lenders charging 20% interest.
Ryan has pulled less cash than you think out of MSLP has he converted the $18m debt he personally injected in all those scams against vendors into stock at over $1 a share.
His history is full of losing his trust funds given by his daddy Halbert. He lost everything in Quicksilver and Bebe Sport.
You Jumping in with both feet on a stock that trades as pennies on basically no volume where total trading value is not even $10 most days make no logical sense unless your trading account is only $40 and you buy 100% the days shares every day for 6 months.
Check this out...
$MSLP - Musclepharm - *Massive Upside Alert*
Quick Due Diligence:
Products Sold on Amazon and In-store at Costco:
https://musclepharm.com/
1000+ reviews, 4.5 stars
https://www.amazon.com/MusclePharm-Combat-Protein-Powder-Chocolate/dp/B01DOHWFGM
317 reviews, 4.6 stars
https://www.costco.com/musclepharm-combat-protein-powder%2C-6-pounds.product.100466807.html
CEO (Drexler) is large shareholder and financially backs the company
with with lines of credits and loans. He is from a family owned
company Country Life Vitamins in 1970. Mr. Drexler negotiated and led
the process which resulted in the sale of Country Life in 2007 to the
Japanese conglomerate Kikkoman Corp.
Recent Article on Inc about what CEO is doing with the company to cut
costs and eventually turn a profit:
https://www.inc.com/jeff-haden/one-step-back-many-steps-forward-how-to-turn-treme.html
Instutional Investors Include Wynnefield Capital (1 million shares)
and Winston White Assets (3.6 million shares)
https://www.sec.gov/Archives/edgar/data/1008190/000089924319026927/xslF345X03/doc4a.xml
The gains I've got from these products are incredible so I decided to look into purchasing this stock and the fundamentals I've found are incredible! How is this so cheap!?! This should be priced way way higher! I'm backing the truck up and jumping in feet first!
Anyone know the tradeable float here ?
Thank you sir. Still holding.
MusclePharm Enters Into Equity Exchange Agreement With American Media Valuing Company at $105 Million
Equity to be Exchanged in Return for Media and Advertising Services Worth $3 million
BURBANK, CA / ACCESSWIRE / December 6, 2018 / MusclePharm® Corporation (MSLP) (''MusclePharm'' or the ''Company''), a scientifically driven, performance-lifestyle sports nutrition company, is pleased to announce today that it has entered into an Agreement for Equity in Exchange for Services (the "Agreement") with American Media, LLC (the "Investor").
Pursuant to the Agreement entered into on November 30, the Company agreed to issue to American Media 928,572 restricted shares of its common stock, par value $0.001 per share (the "Shares"), at $3.23 per share in exchange for $3,000,000 worth of professional media support and advertising services. Based on the company's fully diluted shares, the deal places an approximate value on the Company of $105 million.
"We are proud to enter into this agreement with American Media, one of the preeminent, multi-platform digital and print content companies in the nation," said Ryan Drexler, Chairman, CEO and President of MusclePharm. "Our brand will find a receptive and targeted audience among American Media titles that include Men’s Journal, and Muscle & Fitness and Muscle & Fitness Hers, as well as the Mr. Olympia Contest. This agreement will provide valuable exposure to MusclePharm and contribute to continued progress toward our goal of sustained growth and profitability."
Current market cap is 5.4 million, in case you were wondering
From a recently filed SC-13:
https://www.sec.gov/Archives/edgar/data/1415684/000119312519288187/0001193125-19-288187-index.htm
White Winston Select Asset Fund Series Fund MP-18, LLC
3,648,355
Amerop Holdings, Inc.
11.29%
A recent review of the company just popped up on Glassdoor from an employee. The former employee things they have a positive outlook:
March 19, 2020
"Great Products"
Former Employee - Sales Manager in Los Angeles, CA
Recommends
Positive Outlook
Approves of CEO
I worked at MusclePharm full-time for more than a year
Pros
MP has great products, culture and people.
Cons
Turnover in management caused a bit of other turnover and temporary shakiness.
One Step Back, Many Steps Forward: How to Turn Tremendous Brand Equity Into a Profitable Business
My interview with MusclePharm CEO Ryan Drexler about restructuring a company with tremendous brand equity, and how less sales can create a stronger company.
You built Country Life, a successful company, and sold it... so why get back into the nutritional supplement business?
One, as an entrepreneur I learned a number of valuable lessons. Going through the ups and downs, learning the day-to-day of building a business... even selling Country Life taught me a lot.
Then, why MusclePharm? I love the business. I live an organic lifestyle, I'm an avid Brazilian Jiu-Jitsu competitor, I surf, I mountain bike... I live the lifestyle, I take the products -- it's a natural fit for me.
After I sold Country Life I was investing in similar types of businesses, learning about them and being an activist investor, and MusclePharm was intriguing. I couldn't believe the brand recognition. It was everywhere: From mom and pops, to vitamin shops, to Costco, to international. I was in Germany and saw someone wearing a MusclePharm t-shirt.
Slowly but surely bought some stock on the open market. I knew people that knew the prior management, I approached them and realized I was a natural fit to be on the board and could have a big impact. I felt I could have a really big impact.
Then I saw a lot of things that needed to change.
Someone more bored than me should try to figure out how much cash Drex has taken out of this thing in the form of salary and interest. My gut says he wouldn't walk away for less than $1.11, but if he's made enough outside of his stock, he might go lower.
This could pop to $1.11
From the most recently filed 10-Q
Mr. Drexler may convert the outstanding principal and accrued interest into shares of the Company’s common stock at a conversion price of $1.11 per share at any time. The Company may prepay the Refinanced Convertible Note by giving Mr. Drexler between 15 and 60 days’ notice depending upon the specific circumstances, subject to Mr. Drexler’s conversion right.
Looks like they are going to fight this lawsuit. Why not let it go away in a bankruptcy ?
As previously disclosed in the Company’s filings, in January 2016, ThermoLife International, LLC (“ThermoLife”), a former supplier of nitrates to the Company, commenced an action against the Company in the Superior Court of Arizona for Maricopa County, alleging that the Company failed to meet minimum purchase requirements contained in the parties’ supply agreement. The Company asserted a counterclaim alleging that ThermoLife’s products were defective. On September 26, 2018, the Court granted summary judgment to ThermoLife on the Company’s claims.
On November 1, 2018, the Court granted partial summary judgment for ThermoLife on its own breach of contract claim, finding that the Company was liable to ThermoLife for failing to meet its minimum purchase requirements. On October 2 and 3, 2019, the Court held a bench trial on the issue of damages. On December 4, 2019, the court entered judgment in favor of ThermoLife and against the Company, in the amount of $1,679,468.86, comprised of $893,675 in damages, interest in the amount of $350,859.25 and attorneys’ fees and costs in the amount of $434,934.61. The Company intends to seek an order vacating the court’s judgment and, if that motion is unsuccessful, intends to appeal the court’s rulings to the Arizona Court of Appeals. The Company continues to believe that ThermoLife’s claims are without merit, and intends to vigorously pursue its defenses, including on appeal.
Looks like they are going to fight this lawsuit. Why not let it go away in a bankruptcy ?
As previously disclosed in the Company’s filings, in January 2016, ThermoLife International, LLC (“ThermoLife”), a former supplier of nitrates to the Company, commenced an action against the Company in the Superior Court of Arizona for Maricopa County, alleging that the Company failed to meet minimum purchase requirements contained in the parties’ supply agreement. The Company asserted a counterclaim alleging that ThermoLife’s products were defective. On September 26, 2018, the Court granted summary judgment to ThermoLife on the Company’s claims.
On November 1, 2018, the Court granted partial summary judgment for ThermoLife on its own breach of contract claim, finding that the Company was liable to ThermoLife for failing to meet its minimum purchase requirements. On October 2 and 3, 2019, the Court held a bench trial on the issue of damages. On December 4, 2019, the court entered judgment in favor of ThermoLife and against the Company, in the amount of $1,679,468.86, comprised of $893,675 in damages, interest in the amount of $350,859.25 and attorneys’ fees and costs in the amount of $434,934.61. The Company intends to seek an order vacating the court’s judgment and, if that motion is unsuccessful, intends to appeal the court’s rulings to the Arizona Court of Appeals. The Company continues to believe that ThermoLife’s claims are without merit, and intends to vigorously pursue its defenses, including on appeal.
You still around ?
You still around ? What are your thoughts of Drexler settling the recent lawsuit ? $MSLP
I know what you mean! I’m sure their sales are struggling but I would assume they still have to be around $75 million in sales but who knows.
So I’m sure someone who knows what the f they’re doing, would be happy to scoop up $75 million in sales for $32 milly.
I mean, their Instagram is tight! I love looking at the warehouse gym that we’ve all helped fund for the celebrities to work out in. Especially now while we’re locked down.
My fingers are crossed that Drexler finds a buyer for what he needs to break even on his shares and puts us out of our misery. I think he’s a like $1.13 or something a share.
$1.00 a share would be awesome. I mean that’s 32 million bucks for this company . We know they did 150 million in sales a few years ago . The brand has to have value , have you seen the Instagram!?
Actually - Right now supplement companies are doing really well because everybody is trying to boost their immune health
$MSLP
I hope so. I’m still hopeful that they sell the brand for anything over $1.00 per share. I mean a guy can dream right?! Lol
Someone bought shares at 0.16 today , Is something brewing ? $MSLP
Oh yeah , he’s another Goldbond alias
Throw me a bone , goldbond. $MSLP
Is this one completely dead ? Should I sell everything off for $10?
What’s next ? Slow bleed to .0001 ?
MSLP "only" down -92% today. Financials? Publicly traded company? CEO Brad must be rolling over on his parents couch in the basement.
.01? That's impressive even for Drexler. Turning $18MM into $180k makes his Quicksilver investment look like a genius play.
Actually traded at 1 single penny a share today. Musclepharm is truly a penny stock. No financials for almost 2 years now yet the SEC was supposed to assign a monitor as part of the settlement.
LOL ... wonder what we could get a pump at . Seriously though 0.10 is a joke . 3 million dollar company.
?
Agree. Let’s pray for a pump n dump. Hahaha I’m outta here if it breaks a dollar
Pretty ridiculous what has happened here. Maybe found a short term bottom at .10 ? Who knows . Hopefully a bounce to a buck !!
$MSLP
I’m still here. How it goes?
Not much of anything new per se...Company being ran by a turd. Fins not released for some time. I’m hopeful that Drexler gets his head out of his arse and sells at some point. See you on some of hen other boards. Good stuff!
You still around sir ? Any insight on what happens here next ?
You still around bud ?! What’s going on with this company ? $MSLP
Since you were so right here can you please tell me what happens next ?
Anything going on in this company ? $MSLP
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