Fuse Science Inc (DROP)

[griff100]

Stuff in here about the fuse/Musclepharm switch, but facts are way wrong on the DROP pps at that time....
http://www.golf.com/tour-and-news/tiger-wall-street-how-tigers-brand-remains-lucrative

Some of Woods' answers about Fuse tell me he has no clue what "steinny" got him into. (And no "team" studied FUSE before he signed on, impossible.)

an excerpt from the article:
Last year, Woods signed a new deal with a supplements company called MusclePharm, replacing a similar deal he had with Fuse Science. Fuse had announced a five-year contract with Woods in October 2011 but by last June the Fuse name was off the side of Woods’s golf bag. For years, Woods’s bag has been considered the second most expensive piece of real estate in golf marketing, after Woods’s hat.

Asked at a Hero World Challenge press conference what happened with Fuse, Woods said, “They didn’t quite have the patents and hence we didn’t quite get as far as we all had been expecting. MusclePharm, they have product already in place, and it’s about creating another brand within that and helping me out at the same time.”

Fuse, which trades under the ticker symbol DROP, opened at $80 a share on Nov. 21, 2011, the day Woods gave, his first televised interview, on CNBC, about his involvement with the company. Fuse was talking then of plans to someday introduce insulin treatment systems that could be administered orally, in addition to making bodily supplements for athletes. By Dec. 13, the stock price reached $250. It is now trading well under a penny a share. Calls to and messages left for the company’s former CEO, Adam Adler, and its current CEO, Brian Tuffin, were not returned. Woods had an equity interest in Fuse, but its terms were never disclosed. He and Steinberg did not say how the golfer fared financially in the deal. Woods must have owned less 5% or his name would be listed on the company’s SEC filings.

Jack Nicklaus and Arnold Palmer have both had formidable business careers, but each has had significant stumbles, too. Both have been active in course design. But beyond that, Palmer’s basic business model was to get paid for the use of his name. Nicklaus has often been more entrepreneurial and more active in management, particularly as an equipment manufacturer.