Tuesday, October 28, 2014 11:22:34 AM
Q1 '14 Sales -- $50,200,000
Q2 '14 Sales -- $46,700,000
As anyone can plainly see, Sales contracted Q over Q.
Could this be why MSLP management desperately signed a deal with devil with WalMart and Sam's now retailing MSLP Protein for less than wholesale price charged to GNC and other retailers?
Past quarterly MSLP sales numbers authenticity can be easily questioned based on the bodybuilding.com relationship, questionable insider compensation of over $7m in cash and equity to the DeLuca brothers and overall declining sales trends within the channel.
Regardless, the very active SEC Investigation is likely causing quite a bit of desperation in the MSLP executive suites. The highly touted NASDAQ uplisting is likely to delayed for several years due to the Investigation, margins are obviously stressed on the WalMart/Sam's and other vendors are likely so upset that the MSLP Sales & Marketing Director resigned immediately after the deal was signed.
Dilution is still alive and well as MSLP has increase the Outstanding Shares from 1.2m to nearly 13m in just the last 2 years, and a huge new round of key employee stock grant giveaways is scheduled to vest on December 31, 2015.
If anything is in Hyper Growth mode, it is Dilution Rate. Dilution has been in Hyper Growth since inception.
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