Muscle Pharm Corporation (MSLPQ)

[newmex]

I thought this was worth sharing from a poster on a financial bulletin board site

It's time for a 15 month report card on Ryan Drexler as Executive Chairman/CEO

It's been 15 months since Ryan purchased his MSLP stock

Ryan bought 1m shares on the open market at an average of $4.13 and another 400K shares in a private transaction with Wynnefield Capital @ $5.48

So average cost basis of $4.52 on 1.4m shares.

Ryan is down -56% on his MSLP stock purchases that today are worth $2.8m (if he could actually sell his stake without driving the price down to $0) after investing $6.32m

$6.32m investment now worth $2.8m (with miniscule chance to liquidate without driving PPS to $0) in 15 months

Grade: F

When Ryan came aboard in Q2 2015, MSLP posted $50.4m in sales.

With Ryan at the helm 15 months Q2 2016 sales are $32m and are going to get hit hard in Q3 going forward after losing Arnold Series $46m in annual sales and Biozone $12m in sales that are now gone beginning in Q3.

So $50.4m in sales when Ryan became controlling Executive Chairman to $32m in sales now with $20's likely in Q3. Sales have halved under Ryan in a very short time.

Grade: F

Ryan has now sold every asset, sold off the Accounts Receivable book pulling revenue forward, sold down Inventory on hand to $6m due to suppliers requiring cash up front for product due to Ryan stealing $22.5m in product from the largest supplier, refusing to pay Arnold who terminated his licensing deal that was 40% of total MLSP sales and having to beg to borrow money from his sister as he has depleted his trust fund.

Grade: F

Recap:

Ryan is down -56% on his stock investment in MSLP with more losses assured if he tried to sell.

MSLP sales have declined -50% in just 15 months since Ryan took control.

MSLP assets have been sold off and Ryan has robbed, stolen and stiffed every creditor that didn't demand upfront payment. Every creditor!

Lawsuits naming MSLP as defendant are way up though since Ryan Drexler was instilled EC.

At least a dozen creditors, customers, employees have initiated lawsuits claiming $100m+ in damages for a litany of infractions, civil rights violations, crimes, delinquent invoices and breach of contracts.

Professional services expense continues to increase Q over Q, Y over Y.