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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
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.
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?
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!
Wynnefield spent over $10 MILLION buying $1M+ shares of MSLP beginning in 2013.
You consider $15 thousand a nice addition?
$15k divided by $10m = .0015
That is 1/10th of 1% add to the Wynnefield portfolio
CEO Ryan was supposed to be in court as defendant on this matter too only weeks ago. Drex can't stay out of the courtroom and has lost every suit. He is like 0-12.
https://nypost.com/2018/09/10/protein-powder-company-preps-for-battle-against-hedge-fund/
CEO_Ryan lost his lawsuit filed against him by former brother in law Brad Billet. CEO Ryan appealed, lost that and then lost his attempt to deny legal fees won by Billet. Appealed again and lost that.
https://www.pacermonitor.com/public/case/23088074/Ryan_Drexler_v_Brad_Billet
Bring back the lawsuit against MSLP
PF infused $8m into a MSLP convertible that bailed out the cash strapped and heavily indebted company.
Biozone assets, after acquired by MSLP, were sold to an unrelated party, not associated with PF. Empty shell BZNE ticker was then amended by PF to COCP.
If you go way back to Fuse Science and their huge endorsee Tiger Woods (whom Phil Frost was invested and orchestrated a secured loan of $200K from Brad Pyatt and MSLP to Fuse right before they went bankrupt and transferred the collateral assets. how do you think Brad knew Tiger and signed him at MSLP?) you will see the same cast of shady characters listed in the recent lawsuit ie Barry Honig etal....
I posted extensively as "Tontis_Acheater" on the criminal enterprise that is Phil Frost and his friends at the time as I was short Fuse, MSLP, BZNE, COCP, DRNE, etc..... You can Google my old moniker and see for yourself.
https://investorshub.advfn.com/boards/profilea.aspx?user=429520
Ryan loses another legal hearing and is not longer able to convert his convertible debt. Ryan is now a guaranteed minority shareholder going forward with no recourse back to control as Buck and friends are on the verge of buying the debt via the convertible. HUGE dilution impending (additional 10m-30m shares) but debt service expense will decrease substantially. MSLP lost ~$5m last Q but will save about $1m in interest expense quarterly.
Cody, did you see the latest lawsuit filed against MSLP?
https://www.sec.gov/Archives/edgar/data/1415684/000119312518257804/d614646dsc13da.htm
What?
Buck Wessell just sold hundreds of thousands of his 2 million shares for $1.00 to a hedgie according to last weeks filing. Buck paid over $2.xx for the shares he just sold for $1.00
Buck and the hedgie own 19.xx% of the outstanding but still have zero influence due to the convertible and collateralized debt by CEO Ryan.
This movement today is just sucker bait.
codie
Re-hire the nanny and get me NetJets on the phone quick! I'm back!
Buyout?
One day after Q1 reporting and 2 shares trade. Yep, Total trading value of $1.50....that is 15 shiny dimes for an entire trading session immediately after Quarterly Reporting. This is dead. Literally....
Accounts Payable delta went up $3m+ this Q and yet Accounts Receivable stayed even. MSLP has stopped paying suppliers AGAIN as they only have $300K left in working capital and almost $8m outstanding in borrowings from Prestige and Crossroads at shylock terms.
Drexler can't sell as he has invested over $26m in cash personally ($8m original open market for 1.4m shares and $18m in cash infusions convertibles to cover operating losses) and the company is still losing $1m a month, $3m a quarter.
Remember this despite stealing over $11m from former supplier Capstone when MSLP refused to pay the $22.5m in outstanding AP to the manufacturer and was able to settle for $11m. MSLP is posting real cash losses of $15m-$20m annually and has borrowed $26m since Ryan displaced CEO Brad in short term borrowings @ 12%-20% interest to cover the operating losses. MSLP accrued over $1.3m in interest in Q1 in addition to EBITDA losses
Remember Q1 is always the biggest revenue Q as New Year Resolutions for fitness drive inventory load. Historically, MSLP Q1 rev doubles over Q4 yet this year....it's flat.
MSLP owes Manchester City Footy another $1m payment for the legal settlement in less than 60 days.
There will be no buyout as Wynnefield owns 10% of the total shares and they are in at ~$5 a share after already realizing over -$9m in losses on previous sales.
Amerop owns ~17% of the total shares and Buck is in at over $2 a share.
Ryan is in over $5 a share in cash and controls well over 50% of the diluted.
The company has ~$50m in debt and no assets unpledged as Ryan has borrowed against everything but the wresting mats.
It will go into bankruptcy and Ryan will foreclose on the notes in a take UNDER not over. The bulls here have no financial acumen nor sophistication. Neither does the trust fund baby CEO.
Ryan owes another $1m payment on another losing legal settlement in 60 days to Manchester City Footy too.
They continue to borrow Million$$$ every 90 days to fund operating losses
They continue to post margin constriction despite expenses being cut (another -20% decrease in employees) meaning heavy discounting increases Q over Q.
$3m Credit Line against Inventory from Crossroads is fully tapped this Q (was $0 last Q). Additional $2m was borrowed against AR from Prestige this Q.
$5m of additional borrowings was necessary this Q to stay afloat.
MSLP now has $26m+ in collateralized debt against assets not counting $8m in past due debt to partners and vendors and $$$$ more in Accounts Payable.
MSLP has $50m in debt and is clearly upside down and posting massive losses with their revolving door CFOs.
Over 80% of the total shares are held by three entities; Consac, Amerop and Wynnefield
It ain't gettin' sold for a few quarters and a dime as Consac holds majority controlling interest and convertible collateralized debt.
Care to address codie's point on the 850:1 reverse split or do you wish to continue your hilarious fantasy profits?
Just like Wynnefield where you can track their real time MSLP performance via the 2013 purchase of 1,000,000 shares at $9.2m in their 13F filings
They hold 1.3m shares worth $800K as of March 31, 2018
Down over 90% and they are liquidating after averaging down like many here claimed to do as well.
https://whalewisdom.com/filer/wynnefield-capital-inc#tabholdings_tab_link
codie,
Mikey is using turok and brichnyc math. The fantasy math is never in real time.
Domestic Sales continue to get crushed by -30% with no end in sight. Remember several Q's ago, when the trust fund baby said in the conference call that revs had stabilized and would begin ramping up?
Well, that wasn't accurate, was it? Even foreign sales are down >-10% and will likely decline further with the weakening USD environment again that is driving up input costs and pressuring margins even further to new record low 30% gross profit level. CEO Brad looks like Warren Buffet when compared to the trust fund baby.
MSLP has $26.4m of debt currently at interest rates ranging from 12%-20% per annum. Think about that.....Over $4m a year in debt interest without a single $1 in principal paydown. This makes payday loan companies blush. Oh, by the way.....MSLP borrowing is still increasing exponentially as it is the only funding source of real cash operating losses that continue to explode.
$18m to the trust fund baby
$3m to Crossroads (fully tapped the secured credit line against Inventory)
$5.4m to Prestige (secured by Accounts Receivable)
***This does NOT include $7m in debt currently owed to Manchester City and other legal settlements that is past due.
That is $35m in current real debt.
MSLP has cut employees another -20% this period and has barely 50 on staff as revs continue to decline -30%. You can't cut your way to profitability as revs continue to decline faster than expenses.
Rent on the new Burbank facility is a half million $$ a year NOT counting cap ex on the wresting mats and equipment. Good thing MSLP has it's priorities straight. When you are losing $1m-$2m a month in real cash burn, you can't have enough wrestling mats, no?
OMG!
This is the savior of the company? Including the initial inventory channel load, only $1.5m is total sales in 3 full quarters in the Natural Line the cheerleaders said would drive MSLP to the Championship. CocoProtein Water did better than that and it's discontinued.
Window dressing only
MSLP borrowed and owes almost $6m to Prestige Financial in Q4 '17
AND another
$3m from Crossroads Financial in Q4 '17
MSLP borrowed over $9m in additional outstanding debt during Q4 '17 not counting anything from the Drexler loans yet only shows $6m in Cash on Hand.
Nice business model. Borrow $9m in Q4 to show a bank balance of $6m to investors to window dress the quarter.
Still racking up debt at an amazing Ponzi Scheme Rate. Wait until the collateral is called due and MSLP is forced to declare bankruptcy as the debt is all collateralized by 100% of the MSLP assets, including Accounts Receivable, Inventory and Cash on Hand.
There is only $3m in additional lending available under the LOC terms to Prestige as MSLP has borrowed 70% of the credit limit.
MusclePharm can no longer generate revenue so CEO Ryan does the only thing he can with a failed line.....fire sale pricing at a loss much like a going out of business sale as the bank account is empty
but when this is the most recent review on the product, how low can you go? Dirty cardboard flavor?
Rah, rah cheerleaders
MusclePharm is booming. About $12,000 of total transaction volume in a $12,000,000 market cap.
That is 1/10th of 1%
Even if you bought 100% of the total shares traded at the low and sold 100% of the total shares at the high, you might have made $300.
Of course it is impossible for you to have bought at the low bid and sold at the high ask, so traders are making zilch. This is untradeable.
Ryan still owes Manchester City Footy $2m in cash, half payable in a few months from that legal settlement loss in addition to the $$million$$ in interest payments due to the two subprime lenders and CEO himself.
MSLP currently burns at least $1m a month in just simple operating losses (rev - COGS+SGA) before any of these other expenses.
Good luck pink sheeters!
The trades are not real. They are fake round trip matching desk trades only micro-seconds apart. It is all fake volume trying to attract dumb retail pink sheet investors into buying Obus' worthless MSLP shares before Buck Wessel begins dumping his 2m.
Here is Wynnefield (Obus) dumping 300k shares to MM to liquidate