Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I didn’t see I didn’t see any details of his departure all I saw was that he left the company I didn’t see anything about a golden parachute that you have described personally I am pleasantly surprised with some of the revamping they have done it looks like they are going it direct to consumers approach by rebuilding their website. It really looks like they are focused on growth that’s profitable at this point and don’t really care about growing top line.
This approach combined with the brand recognition MusclePharm has Could be the right approach.
One big clue I think we all need to look at is that Drexler has not Had to loan the company more than $3 million since he converted all that debt to equity. In that filing they said the $3 million loan was for way protein purchase which makes me think that they are still focused on the Costco contract
More cost cutting ... 8k out
On July 22, 2020, Troy Bolotnick, the Chief Operating Officer of MusclePharm Corporation (the “Company”), ceased to be an employee of the Company.
https://www.sec.gov/Archives/edgar/data/1415684/000165495420008074/mslp_8k.htm
At least they are finally done paying Casutto off. Sheesh! Last payment of $16k should have just processed. I wonder if the PPP loan will cover this.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Officer and Director
The Agreement provides that the Company will pay Mr. Casutto an aggregate of $100,000, the equivalence of three months base salary, with payments of $16,666.66 made every two weeks, beginning on May 15, 2020 and ending on July 17, 2020. The Agreement includes standard provisions contained in agreements of this nature including, mutual non-disparagement and a general release of any and all claims.
$MSLP
Nice to hear from you , Goldbond . You must be very happy from your short from $14 . Nice work. But , even you , have to see value in this pink paper at these levels . Wynnefield just added 75,000 shares I hardly think anyone wants to throw good money after bad , so maybe he will be right this time. $mslp
Here is the latest share count:
2020-07-13 13D/A WYNNEFIELD PARTNERS SMALL CAP VALUE LP I 2,011,905
2019-11-08 13D/A White Winston Select Asset Fund Series Fund Mp-18, Llc 3,648,355
13D/A Drexler Ryan Charles19,653,779
Assuming 32m o/s this 6.8 million shares not held by institutional investors or the CEO
$MSLP
Not many shares left. 32 million o/s
Drexler owns 19.5M , Amerop/Winston white 3.5M and wynnefield 2M
Leaves 6 million shares not held by institutions or the CEO .. 1.5 million bucks worth .
Won’t take much pain pressure to get this pop
Did you read the $MSLP filing ? Wynnefield is putting pressure on Drexler to release financials . You don’t think the stock pops once financials are released?
32 million shares @ .25 makes this an 8 million dollar market cap .
They likely did 100m in sales in 2018..
Nelson Obus was the buyer of the stock ! Wynnefield bought another 75k shares a few weeks ago:
The Wynnefield Reporting Persons have acquired shares of Common Stock during the last 60 days as follows:
Name Transaction Date Number of Shares Price Per Share
Wynnefield Partners I Purchase 6/23/2020 45,360 $0.19
Wynnefield Partners Purchase 6/23/2020 30,240 $0.19
https://www.sec.gov/Archives/edgar/data/1251565/000110465920083037/tm2024071-1_sc13da.htm
Looks like $MSLP Musclepharm is still building their relationship with selling on Amazon.
They’ve devoted a new site to it :
https://bestsellers.musclepharm.com/
BCAA Supplements Market to witness astonishing growth with Key Players | Vega, MusclePharm, Optimum Nutrition
Post
A new Profession Intelligence Report released by Stats and Reports with the title Global BCAA Supplements Market “can grow into the most important market in the world that has played an important role in making progressive impacts on the global economy. Global BCAA Supplements Market Report presents a dynamic vision to conclude and research market size, market hope and competitive environment. The study is derived from primary and secondary statistical data and consists of qualitative and numerical analysis. The main company in this survey is Vega, MusclePharm, Optimum Nutrition...
$MSLP
https://coleofduty.com/news/2020/06/23/bcaa-supplements-market-to-witness-astonishing-growth-with-key-players-vega-musclepharm-optimum-nutrition/
92k shares traded today of Musclepharm, over 10x recent volume and one of the single highest trading days in years. One big buy of 75k.
They do say volume before price . I’d guess to see a SC-13 in the next few days . This has to be Winston white / Amerop or Wynnefield or hopefully drexler himself .
Did they allow share buybacks with PPP money like the 2008 bailouts ? We know drexler got a million bucks .... just sayin’.
$MSLP
Musclepharm is still a worldwide brand . That’s what seems to have been forgotten here . It’s still popular in many other countries . Take a look at The musclepharm moment in Rugby. $MSLP
Sydney Roosters: MusclePharm Moment | Round 6 https://t.co/BRNJERFM5s
— World Club Challenge🌎 (@WClubChallenge) June 22, 2020
Great story on Instagram. Can’t believe this stock is at 0.25
https://www.instagram.com/p/CBlis9lJCLy/
$MSLP
I’m still seeing a random bidder come on from time to time . I’ve seen 5,000,000 shares on the bid but usually it’s around 500,000 shares . Interesting . $MSLP
I’m in , let’s go !
Do you think it was Drexler or Musclepharm itself trying to buy back stock on sale ?
I have to wonder who it else it could be ? Amerop or Wynnefield capital . ?
Someone added $100,000 to the pot here .
$MSLP
Saw this one posted on another site :
Musclepharm $MSLP a long forgotten stock .... has to pop sooner or later ?
I have a penny stock at $0.30 - Musclepharm ticker: $MSLP that is currently valued at 6 million dollars but did 100m in sales in 2018 . It seems there is tremendous upside opportunity right now as a protein supplier as meat supply is running short . One of their product is sold at Costco - Combat Powder ..
While BK is an option, CEO Ryan Drexler owns 18 million of 33 million shares outstanding . He seems to be committed to loaning the company money and keeping it afloat while we works to achieve profitability, something past leadership couldn’t . In fact he recently converted those shares to equity at $1.11 per share reducing company debt by 18 million . See filing below :
Item 8.01 Other Events.
Mr. Ryan Drexler, the Chief Executive Officer, President and Chairman of the Board of Directors of MusclePharm Corporation, a Nevada corporation (the “Company”), delivered a notice to the Company and its independent directors of his election to convert, effective as of September 16, 2019 (the “Notice Date”), $18,000,000 of the amount outstanding under that certain Amended and Restated Convertible Secured Promissory Note, dated as of November 8, 2017 (the “Note”), issued by the Company to Mr. Drexler, into shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”),
——————————————————
at a conversion price of $1.11 per share,
——————————————————-
pursuant to the terms and conditions of the Note (the “Partial Conversion”).
source: https://www.sec.gov/Archives/edgar/data/1415684/000165495419010894/mslp_8k.htm
Musclepharm was a big brand in its peak 2013-2016 with signing Arnold Schwarzenegger and Tiger Woods.
They have a solid Instagram presence with 625K followers : https://instagram.com/musclepharm?igshid=6ty6kmgk2cmb
I determined a minimum fair value of $2.64 based on prior sale of Glanbia to optimum nutrition. OM sold for 300m while doing 157m in sales. Musclepharm did 100m in sales in 2018 and has been cutting expenses.
MusclePharm $MSLP seems to have 5-10X upside from here .
I wonder if the 5 million bid at 0.21 is going to come back this week. $mslp
Look at that giant bid on $MSLP pic.twitter.com/wAITdBCuHu
— Ted Rosen (@rosen_ted) June 4, 2020
Been doin pretty well, thanks for asking. Had some nice wins lately in $DEAC/$DKNG and shorting $LFIN. I came back here recently and saw the stock price was absolutely shocked by it. So I started looking into it and the share structure is set to where Drexler owns 19.5 million of the 31 million shares. There isn't a whole lot of debt left since Drexler converted it to equity. The market is valuing this at a 6-8 million dollar company which I think is crazy cheap. I have to think the brand and the sales have to be worth than much more. This was a pretty strong brand at one point.
$MSLP
How the hell are you codie ?
I have to think they are coming soon. Four 8-K’s in the last few months . Seems like they are finally getting on top of things in the office . $MSLP
8K out... they just got a 1% loan ... huge ... also mentions we might get financials soon... June 30th...
On May 14, 2020, MusclePharm Corporation (the “Company”) received an aggregate principal amount of $964,910 pursuant to the borrowing arrangement (“Note”) with Harvest Small Business Finance, LLC (“HSBF”) and agreed to pay the principal amount plus interest at a 1% fixed interest rate per year, on the unpaid principal balance. No payments are due on the Note until November 16, 2020 (the “Deferment Period”). However, interest will continue to accrue during the Deferment Period. The Note will mature on May 16, 2022. The Note includes forgiveness provisions in accordance with the requirements of the Paycheck Protection Program, Section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
The Company will file a copy of the Note as an exhibit to its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020.
$MSLP
https://www.sec.gov/Archives/edgar/data/1415684/000165495420005878/mslp_8k.htm
Drexler converted $18 million of debt that he loaned the company to equity at $1.11 per share in Sept 2019:
On September 17, 2019, the Reporting Person delivered a notice to the Issuer and its independent directors of his election to convert, effective as of September 16, 2019 (the “Notice Date”), $18,000,000 of the amount outstanding (including all accrued and unpaid interest) under that certain Amended and Restated Convertible Secured Promissory Note dated as of November 8, 2017 (the “Note”), into shares of the Issuer’s Common Stock, at a conversion price of $1.11 per share, pursuant to the terms and conditions of the Note (the “Partial Conversion”). As of the Notice Date, the total amount outstanding under the Note (including principal and accrued and unpaid interest) was equal to $19,262,910.15. Pursuant to the terms of the Note, the Issuer has instructed the transfer agent for its shares to issue to the Reporting Person 16,216,216 shares of its Common Stock (the “Shares”) in respect of the Partial Conversion. The Note will remain outstanding in accordance with its terms in respect of all amounts in excess of the $18,000,000 that is subject to the Partial Conversion.
In my opinion, anything under $1.11 is a bargain as Drexler continues to show he will keep the company afloat and cut costs . I have a feeling financials are around the corner .
https://www.sec.gov/Archives/edgar/data/1415684/000165495419010895/mslp_sc13da.htm
$MSLP
Winston White was buying at 0.45 a share, over 600,000 shares, and now owns over 3.6 million shares
White Winston Select Asset Funds Series Fund MP-18, LLC 09/30/19 Purchase 626,826 of the Issuer’s Common Stock N/A (2)
(2)
The shares were purchased by the White Winston Reporting Person in an off-market transaction pursuant to a Share Transfer Agreement dated as of September 30, 2019. For purposes of the transaction, the value of the Common Stock was deemed to be $0.45 per share, the last reported sale price of the Common Stock on the date of the transaction.
https://www.sec.gov/Archives/edgar/data/1415684/000119312519288187/d817955dsc13da.htm
I do like that they have been reporting 8K’s lately . It makes me think that they are trying to be on top of their paperwork - why even bother if you are planning on a Bankruptcy, and your launching new products like the protein chips .
I think when financials are figured out they will report and there will be good news. Until then, Drexler is basically keeping the company afloat and paying bills with his own money .
The only recent loan drexler has made to the company has been a 3 million dollar line of credit on Oct 4, 2019 . The company is still afloat so it could not have burned more than 3 million dollars in the last 6 months .
https://www.sec.gov/Archives/edgar/data/1415684/000165495419011612/mslp_8k.htm
Brian Casutto was hired in June of 2014.
I got that Brian Cassuto , the only remnant left of the Brad Pyatt era, is gone.
Hopefully it means an acquisition is on the horizon. Go $MSLP
Nice owning a stock that isn’t dragged down by the overall market tantrums . Go $MSLP
Speaking of which, the newly hired CFO on $MSLP has significant experience preparing a company for sale and filing delayed financials, according to his linkedin profile.
The Crypto Company:
The way I see it, the financials will all be released at the same time. i.e. These are all one issue (THE ISSUE) with this company. If you have followed the brand long enough you know that this does 100m a year in organic sales. Even if they leaned out and down to 75m a year sales by only selling profitable SKUs with margins, this should still sell for 1x sales. i.e. 75m market cap in a worst case scenario. Market cap right now is under 10m.
Wouldn't the time to 'load up' be right now, before financials are released? Wouldn't the filing of financials be enough to drive this back to the $2-$3 range?
If the sales are there (worst case 75m) and they can show an operating profit, this all of the sudden looks extremely attractive.
$MSLP
Seems like their internet sales would have to be picking up volume:
MusclePharm $MSLP Combat Protein Powder, Essential Whey Protein Powder, Isolate Whey Protein, Casein and Egg Protein with BCAAs and Glutamine for Recovery, Chocolate Milk, 4-Pound, 52 Servings
by Muscle Pharm
4.5 out of 5 stars 2,085 ratings
https://www.amazon.com/MusclePharm-Combat-Protein-Powder-Essential/dp/B003BVI5FW
Awesome reviews on Amazon lately, these dates are recent as verified buyers.
I love this paragraph from this article a post sometime ago. $MSLP has been quietly taking care of business:
https://www.inc.com/jeff-haden/one-step-back-many-steps-forward-how-to-turn-treme.html
My favorite paragraph:
Drexler has to be cleaning up the books and 'leaning' this $MSLP up for a potential sale, just as he did by selling Kikkoman to Country Life. He knows the value of the brand here. The market cap is just way too low for the brand value and following worldwide this company has. The financials are a red flag that I'm comfortable with here as Drexler has a significant stake in the company since he converted 18,000,000 in loans to equity. He has a 58.8% ownership in the company. Why would he not want to get $MSLP to a potential sale, with a recent valuation of $3.23 per share.
https://www.inc.com/jeff-haden/one-step-back-many-steps-forward-how-to-turn-treme.html
A couple of dates they reported 10-Q's in the past:
10-Q 2018-05-15
10-Q 2017-05-12
10-Q 2016-05-10
A 10-Q for 2020 Q1 could be near. I am assuming they are working hard on getting financials out.
What happens to the PPS if they report audited financials and everything has been cleaned up? These turnarounds usually take 2-3 years to complete.
Have you seen Drexler on social media now? He's on their instagram almost everyday.
I look a closer look at the holders here yesterday.
DREXLER RYAN CHARLES 19,653,779
Wynnfield Capital 1,198,679
White Winston 3,648,355
Total: 24,500,813 shares
Total O/S: 32,314,924 shares
Shares not held by insiders: 7,814,111
Market Cap of those shares: $2,578,656.63
At current market prices, it looks like 2.5 million dollars buys the rest of the retail float out there. It won't take much to get this stock moving quickly. As always, simply my opinion.
$MSLP
You’re right , however , it looks like drexler also has more shares than I reported , almost a million more .
The CEO Drexler has 19.6 million shares of the 32 million o/s representing 58.8% of the total shares
Here is the latest filing:
https://www.sec.gov/Archives/edgar/data/1415684/000165495419010895/mslp_sc13da.htm
Selling looks exhausted from American Media, they received shares valued at $3.23 on Jan 1, 2019
MusclePharm Enters Into Equity Exchange Agreement With American Media Valuing Company at $105 Million
https://www.accesswire.com/529845/MusclePharm-Enters-Into-Equity-Exchange-Agreement-With-American-Media-Valuing-Company-at-105-Million
Nice to see some buyers
$MSLP
With restructuring charges put to rest, MusclePharm’s turnaround plan gains credence
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.
Insider Roster
BUSH WILLIAM JOHN 492,181
DESMOND JOHN J. 587,357
DORON MICHAEL J 150,314
DREXLER RYAN CHARLES 18,378,700
ESTALELLA RICHARD 379,049
GREENWELL JAMES J 161,172
JENKINS STACEY Y 90,529
THOMPSON NOEL 19,412
Institutions:
Wynnfield Capital 1,198,679
White Winston 3,648,355
Total: 25,105,748
Total O/S 32,314,924
Shares not held by insiders : 7,209,176
Market Cap of those shares^^: $1,874,385.76