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That's what's called desperation. Sports Authority recently streamlined their business model too.
Buyer made them commit to $9 million in future purchases plus $2 million up front for purchase orders.
They know better than to extend Musclepharm any credit.
Bought Biozone for $13 million and sold it for $6 million. Gotta love their business model. Boom!
Here's a nice little nugget from the earnings report:
The accompanying consolidated financial statements for the three months ended March 31, 2016 were prepared on the basis of a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the ordinary course of business. Accordingly, they do not give effect to adjustments that would be necessary should the Company be required to liquidate its assets. The Company has not established an ongoing source of revenue sufficient to cover its operating costs for at least the next 12 months and allow it to continue as a going concern. The ability of the Company to meet its total liabilities of $73.1 million as of March 31, 2016, and to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. The Company can give no assurances that any additional capital that it is able to obtain, if any, will be sufficient to meet its needs, or that any such financing will be obtainable on acceptable terms. If the Company is unable to obtain adequate capital, it could be forced to cease operations or substantially curtail its commercial activities. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of these uncertainties.
Hey money bags - why so angry?
I've been in this way before the split cupcake. You want screen shots? Start sharing yours. I won't hold my breath.
Just read my posts as far back as you want to go and see who's been on the right side of this trade.
I know you have been long the whole way down.
Read it and weep muchacho. I've called this stock from day one. Feel free to go back and read my posts.
And just think you could have rode this thing down from $20 to $4. And a sweet ride it was.
I'm sure you are money bags, I'm sure you are. LOL
I need a good laugh like everyone. And Big Money, you are cracking me up.
I believe next quarter will reflect the loss of the Arnold line. That's at least 30% of revenue.
They are on life support. Look at the volume. No one is impressed with the earnings.
This is a dead company.
Of course you are. Too funny.
We know better that that slick. You're still holding that beat down long position from 5 years ago.
Might as well keep holding. Down 98% - can't really lose much more. But hey, Musclepharm is going to rule the world.
Thud.
He gives you the reality which you have been denying for years and you accuse him of being short. Same old song from you.
If anyone could use some luck with their position it's you. Luck is the only thing that will make anyone long Musclepharm any money.
This is a no growth company. Continues to lose money. With Arnold dumping them, back to declining revenue.
It's not a new company anymore. No excuses.
No boom here, just a thud.
No conference call. They are too busy focusing on restructuring. LOL
They wanted nothing to do with questions about Arnold dumping them.
Dollars in Musclepharm are dead money. This is a sinking ship.
Arnold had no risk whatsoever in Musclepharm. No investment at all and he still dumped them.
Rising? Too funny.
Too late for a turnaround. Ride it into bankruptcy.
No, Musclepharm are out.
Arnold dumps Musclepharm!
It's pretty bad when the endorser dumps the endorsee.
MusclePharm Deal Finally TERMINATED by Arnold Schwarzenegger
https://blog.priceplow.com/supplement-news/musclepharm-arnold-terminated
Incredible! LOL
Yeah, Arnold was holding Musclepharm back. LOL
Arnold Schwarzenegger dumps Musclepharm.
https://twitter.com/ketch/status/728630908413083648/photo/1
GNC $2.6 billion in revenue. Vitamin Shoppe $1.2 billion in revenue.
GNC is largest seller BY FAR.
GNC is the largest retailer of sports supplements by far. All sports supplement brands that are in GNC get a large percentage of their sales there.
GNC's performance a pretty good barometer for the rest of the sector.
$15 million I believe.
Musclepharm forced to remove product from store shelves throughout Europe.
http://www.nutraingredients.com/Manufacturers/MusclePharm-supplement-contains-over-double-safe-niacin-content
Yes, it is. They sure have signed up some losers over the years.
Musclepharm's Johnny Manziel indicted for violent and brutal assault on his ex-girlfriend.
http://espn.go.com/nfl/story/_/id/15385945/johnny-manziel-indicted-alleged-attack-ex-girlfriend
Over double safe niacin content in recalled MusclePharm supplement!
http://www.nutraingredients.com/Manufacturers/MusclePharm-supplement-contains-over-double-safe-niacin-content?utm_source=copyright&utm_medium=OnSite&utm_campaign=copyright
The FSAI warning will come as the second blow in less than a year to the US-based company. Last July MusclePharm was the subject of a recall warning from the Norwegian authority, which said its Arnold Iron Dream Concentrated Night Time Recover products contained the toxic fat burner DNP (2,4-dinitrophenol). Brand damage proved so great the company was forced to pull out of the EU.
Lars Boers, CEO of Prometeus, told us at the time: “The product name has been damaged by the health authorities to such an extent that further continuation has no point.”
I think that's called desperation.
They settled because they knew they would lose and the totality of the scam would be revealed.
Boom!
Sorry, but I didn't dredge it up, elephant did. I'm just providing the accurate view. You're welcome.
No there are no news reports of counterfeit MP products. That's why you aren't providing any links.
The bottom line is they got caught scamming and knew they couldn't prevail. Thus the big fat settlement.
Any more old news you want to break?
Boom!
If you read you'll see Musclepharm paid a big fat settlement for their protein scam.
Boom!
They are shelling out $800 an hour attorney fees for each one right now. Then they will lose.
BOOM!
OLD NEWS - that was 7 months ago. They've been sued 5 more times since then. No wait, 6 more times.
BOOM!