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Yet another NDA filing delay due to new information discovered in December. These guys are starting to look like a joke.
Yep. Listened to it. He def shouted out MP. Actually dope podcast. Had no idea he overdosed on heroin.
Well said and concur completely. Sadly but completely...
Agree 100%. Im just not personally a fan of reverse splits but they can be positive if pps stays up post split.
Be happy to download with you. Nothing earth shattering obviously since it everything needs to be publicly disclosed. Got to meet the executives and board members. Ask a few questions to the new Interim CFO and Drexler. Took a tour of the new facility and have a better understanding about the move Cali and what’s happening with the old facility. All seemed positive.
Today’s the shareholder meeting...
See you all there. $mslp
I honestly think this thing gets wheels when deal is finalized. Reverse split kind of sucks but now could be the time to correct that for those who are averaged in at a higher PPS.
We shall see. today’s action is a continuation from yesterday’s PR.
Looks like they got a lifeline. No BK in the near future. Looks like we might make a run back to .10 in the short term and possibly back up to previous PPS in the long term.
That’s great!
I’m going. Are you? Would love to finally meet you.
How would you know what “pissing away $3 million dollars” feels like? Answer: You don’t and I’ll beat you to it...neither do I.
He was willing to put up another $18 million so my assumption is that he’s not strapped for cash like other people posting frantically on stock message boards. See you at the shareholder meeting.
Over here waiting on the “multiple websites with the 12 for $12 deals on combat bars.”
Like for real man...I need these bars. I need to load up. Don’t be like this....
Share the links.
I would believe the unverified buyer.
i’ll just go to her house.
Can you post the sites? I’d like to take advantage of this deal.
So contradictory to what you’re claiming...you’re going to be here until the “9th inning”
Save yourself shortie...everyone here knows what we’re in for. We’ve been here far longer than your late 2017 appearance when Goldbond was banned.
Your “wisdom” as you call it or what is better be described as “rants of desperation” are viewed just a pathetic as the counter claims from us “fan boys” except we aren’t echoing the same horsecrap over and over and over!
I hope this pans out for you, because I fear as much time as you spend on this board and Seeking Alpha you had to have bet your house and most likely your kids college funds on this short position. You need this WAY more than I do so good luck to you! Try diversifying...I read that somewhere.
If you’re not an interested fanboy...or interested at all in the “9th inning”....then answer this extremely simple question...
WHY ARE YOU HERE?!?!?!??
This is all happening for a reason and the wording used in these filings is very specific. Its not coincidence that “fiduciary duty” is stated within the filing. We now have two major shareholders that have publicly stated their concerns regarding the financing. Two major shareholders that have much more at stake than anyone on this board. Yes even you Madcowelixir/Goldbondstein. This is about to get very interesting between now and Christmas.
Just confirmed. You are correct. #4. Thank you for the correction.
They are #4 out of well over 50 other bars.
Since we’re in the mood to copy and paste my posts, let’s try this one again and see if you can manage to respond to something other than your extreme interest in Combat Crunch bar reviews...inquiring minds want to know...
Re: Madcowelixir Post# 79821
Ok. So for all the readers of this board please explain to us how BK is favorable for Ryan. I would honestly like to see what this looks like. I just don’t know what to believe with you. You claimed Amerop and Ryan were moving money “offshore” just days ago now it’s back to Drexler filing BK so please try and stay focused and explain to us how BK recoups anywhere near Ryan’s $17 million. Please come with something better than he’s getting Musclepharms assets and IP. From your keyboard to our eyes, you’ve screamed they’re broke time and time again...so no cash to pay much of anything...not many assets. I’m honestly asking because if your theory is correct, I’d need to better understand why a millionaire would sink so much money into a business case study because he thought the company is “super cool” only to file BK and get nothing in return. Drexler has money but I don’t think he has THAT kind of money to throw away.
A sniper of what your theory might look like...
Drexler to his buddies: “Oh hey guys...remember when I told you I was going to get involved in Musclepharm, invest a ton of jack and get things going in the right direction?
Drexlers buddies: yeah, bro. You’re killing it man. You’ve had a ton of successes in businnnn....oh wait a sec.
Drexler: I know I said I was going to turn it around but it was too far gone. I think I’m going to file BK and take all they have.
Drexlers buddies: Dude you cut it down to the barebones and still have to file BK? I thought there was another investor that was going to cough up the $18 million to keep it out of default.
Drexler: Yeah, yeah...but if I file BK I get it all. That logo man...it’s so green. That rad used gym equipment...I can smell the sweat from all of those UFC fighters still all over it. The gnarly website, the way cool useless patents and all of those extremely expensive yet worthless shares I get if I file BK. It’s a NO BRAINER BRO!!! All for $17 million.
Drexlers buddies: Righteous!! But isn’t filing BK like bad bro?
Drexler:....
Ok, so he has been getting a salary but not in the amount of $17 million. If the brand is performing as poorly as you continuously claim, then seriously...what good is the name, logo, or patents? Oh neat $17 million I got a logo that I could’ve had made on fiverr for $5, a website that I could’ve had made for $400, and some patents for products that you, Madcowelixir, claim are so terrible and that no one wants on any of the supplement websites.
Not so sure I believe this theory or any of your rhetoric truth be told.
Replies:
I agree with you Stupe, I too would
Ideeotsuhvont on 10/23/2017 1:44:40 PM
Report TOS
What’s your point? I can admit to my mistakes. Each time I’ve been corrected, I’m more than happy to take it in the chin. You say 4th place...I say 3rd. At this point I really don’t care if it’s 10th or 20th...we’ll see what happens in a couple of weeks.
3 by my BB.com app...
#3 top selling protein bar on bodybuilding.com is....drumroll please....Musclepharm Combat bar.
I’ll accept that answer. Lol
Please...I beg you...Short the stock!!
Ok. So for all the readers of this board please explain to us how BK is favorable for Ryan. I would honestly like to see what this looks like. I just don’t know what to believe with you. You claimed Amerop and Ryan were moving money “offshore” just days ago now it’s back to Drexler filing BK so please try and stay focused and explain to us how BK recoups anywhere near Ryan’s $17 million. Please come with something better than he’s getting Musclepharms assets and IP. From your keyboard to our eyes, you’ve screamed they’re broke time and time again...so no cash to pay much of anything...not many assets. I’m honestly asking because if your theory is correct, I’d need to better understand why a millionaire would sink so much money into a business case study because he thought the company is “super cool” only to file BK and get nothing in return. Drexler has money but I don’t think he has THAT kind of money to throw away.
A sniper of what your theory might look like...
Drexler to his buddies: “Oh hey guys...remember when I told you I was going to get involved in Musclepharm, invest a ton of jack and get things going in the right direction?
Drexlers buddies: yeah, bro. You’re killing it man. You’ve had a ton of successes in businnnn....oh wait a sec.
Drexler: I know I said I was going to turn it around but it was too far gone. I think I’m going to file BK and take all they have.
Drexlers buddies: Dude you cut it down to the barebones and still have to file BK? I thought there was another investor that was going to cough up the $18 million to keep it out of default.
Drexler: Yeah, yeah...but if I file BK I get it all. That logo man...it’s so green. That rad used gym equipment...I can smell the sweat from all of those UFC fighters still all over it. The gnarly website, the way cool useless patents and all of those extremely expensive yet worthless shares I get if I file BK. It’s a NO BRAINER BRO!!! All for $17 million.
Drexlers buddies: Righteous!! But isn’t filing BK like bad bro?
Drexler:....
Ok, so he has been getting a salary but not in the amount of $17 million. If the brand is performing as poorly as you continuously claim, then seriously...what good is the name, logo, or patents? Oh neat $17 million I got a logo that I could’ve had made on fiverr for $5, a website that I could’ve had made for $400, and some patents for products that you, Madcowelixir, claim are so terrible and that no one wants on any of the supplement websites.
Not so sure I believe this theory or any of your rhetoric truth be told.
Which is why investor A does not really have a say in how Musclepharm pays these notes back. So the board can now decide how this plays out. Arms length appears to work both ways.
I’m sure you have more to say than “wow”.
But since we’re here....all I can say is Fiduciary Duty!!
Hmmmmm....interesting. I’d be curious to see who is part of the special committee Amerop mentions in their letter.
Special Committees:
As contrasted to standing committees, such as the audit or compensation committees, corporate boards establish, on an ad hoc basis, special independent board committees, which fall into three separate categories:
(i) the special negotiation committee that is charged with the responsibility of considering and negotiating a proposed transaction involving a conflict of interest between the company and its directors, controlling shareholders, management or other fiduciaries,
(ii) the special litigation committee that is charged with the responsibility of deciding whether or not shareholder derivative litigation claims should be pursued, and
(iii) the special investigation committee that is charged with investigating and determining an appropriate response for alleged internal corporate wrongdoing.
Unlike a standing committee, the special committees do not usually operate under a formal written charter since their assigned tasks are usually concerned with a single issue that is not on-going in nature. The special committee’s responsibilities and authority are established pursuant to board resolutions that lay out who will be the members and what the committee’s resources, duties and powers will b
Just reviewing the last three or so months history, it would appear a few new short positions may have been initiated around July and the beginning or middle of August. August 15, 2017 short interest was aprox 205,000 shares with an average daily trading volume of 21,908 shares. The share price at that time was around the $1.68 mark.
On September 29, 2017 the short interest was aprox 203,160 shares with an average daily trading volume of 23,542 shares. Short interest has fluctuated 3% plus or minus over the last 4 or 5 months, so my assumption is that short interest is still in that 200,000 share range.
Forward thinking, another 10% daily uptick in share price and we’ll be right back around that price range. At an average of 23,000 shares traded per day, that would take about 8 to 9 days of trading to cover.
Things could get really interesting here in the event the price continues to rise and could potentially create a bit of a squeeze with steady or low volume.
Just wanted to share this information as we look forward to the next few weeks.
Good luck all.
You said it yourself...the brand is ONLY two products...these products in your words are failing miserably, as we are constantly reminded by the repetitious posts from Bodybuilding.com reviews.
Do you think the recipes for their “two products”, the brand name and the MP logo are worth more something? Is that what Ryan is after?
It’s one or the other...the brand and its products are either worth something or they are not.
Fiduciary duty not only applies to the directors responsibilities of the day to day operations and working capital but to truly understand Fiduciary Duty, one must understand the legal meaning behind it.
U.S. directors have the primary duties of “care” and “loyalty.” The duty of care requires that directors exercise the degree of care that “ordinarily careful and prudent men would use in similar circumstances.” The duty of loyalty obligates directors to act in good faith in the best interests of the corporation and its shareholders, and to refrain from engaging in activities that permit them to receive an improper personal benefit from their relationship with the corporation. The duty of loyalty prohibits self-dealing and usurpation of corporate opportunities by directors.
You literally just stated in a previous post that Musclepharm has no assets remaining and yet plead that Drexlers shares are the only shares with value now because they are tied to Musclepharms assets. Soooooo wouldn’t no assets = no value?!
Also, did you really just compare a deal with MP to Facebook? Anyway...I’m reality if Facebook were on the brink of alleged bankruptcy and Mark Z’s financing was going to potentially further the company into the zone of insolvency, the yes, I believe someone with billions of dollars could possibly be forced to make a decision based on the health of the company and not his personal gain.
As mentioned earlier, Amerop is not acquiring Drexlers shares...they are offering $18 million to retire the debt and acquire newly issued shares.
Check mate!
How many have traded in the last 48 hours?
I don’t think any of us, what have we been labeled, “cheerleaders” will be weeping. Those days are over. I’m certain that most all “cheerleaders” in this have stomached the worst and are prepared for anything. In fact this filing from Amerop certainly provides each of us with a bit of reassurance, at least it does me.
Directors of a corporation have the primary duties of care and loyalty to the corporation. Specifically the duty of loyalty obligates directors to act in good faith in the best interests of the corporation and its shareholders, and refrain from any activities that permit them to receive an improper personal benefit from their relationship with the corporation.
Because this offer has been filed publicly and could be viewed as one that’s in the best interest of the corporation Musclepharm, and potentially keeping them from an alleged bankruptcy, this would most likely remove any personal protection offered to a director in an alleged bankruptcy. There have been many questions asked regarding “Why would Drexler agree to this deal because it doesn’t benefit him?” Well the short answer is that he is obligated to act on behalf of the corporation and the shareholders and not Ryan Drexler the person. The minute Ryan and/or the BOD make a mental decision to reject an offer that would benefit the corporation, potentially salvage the company, eliminate a potential risk, and or bankruptcy, reduce financial obligations, or what could otherwise be deemed an act beneficial to the corporation or shareholders, this personal protection could be removed.
The filing by Amerop is not only publicly stating that there are and will continue to be financial problems with the company if the Drexler debt is exercised when due. Amerop has now presented a solution that may not have a great benefit to Ryan, but it has a great benefit to the company.
There’s a reason why Ryan’s attorney filed the letter sent in September discussing the restructuring debt option, as these discussions had already begun with Amerop and Musclepharm prior to the letter. There’s also a reason why yesterdays letter drafted by Amerops Attorney was filed publicly, as it has everything to do with timing and presenting options. I believe it has everything to do with Fiduciary Duty. It has everything to do with who are the benefactors of these deals. There are always tough decisions to be made by a director of a large company behind closed doors but when it’s in the public eye you probably shouldn’t do something that’s solely lining your pocket. In all fairness Ryan is getting his money owed, with a bit of a kicker.
If there has ever been a case of CYA, this should be the example.
To me this looks like a homerun on paper for an attorney, and a judge should this ever go the more bleak route.
I don’t think Amerop is the one who is panicking here.
Ok Goldbergstein...ok. You win! Hahahaha jk jk jk
A scenario by another poster.
I imagine it's a slow motion coup:
1) Drex has been holding out, letting the stock continue to devalue and renegotiating his notes. At the same time, he's refused to entertain the possibility of another equity raise, as doing so would dilute his position. Consequently, he continues to ride the company down. However, even he isn't too dense to see that the BK GS has been predicting would leave him with $18MM worth of nothing - no remaining assets, negative brand equity.
2) The BOD, realizing that the scenario above will eventually wipe out all shareholder value, began actively looking for someone willing to make a large investment (without the expense of a public offering). Somehow, they managed to entice Wessell to try to recoup his initial investment.
3) Once Wessell and the BOD had an agreement in principal, Wessell posts his 13d, effectively forcing the BOD to assert its role as a fiduciary; The proposed pps would be better than anything Drex would offer, and by removing Drex's notes (and the associated shares) and inserting a new board member, the path is paved to remove Drex entirely.
4) With Drex gone, the company can begin looking to mend fences with both vendors and customers.