Muscle Pharm Corporation (MSLPQ)

[Madcowelixir]

Expect MSLP to be trading for $0.0x soon when you read this letter as the company is now built to fail









We have all seen the fallout from the Combat Crunch Bar reviews and the expected hit to revenues, but now MusclePharm cash flow is expected to pick up the following expense too:

$6m Convertible Promissory Note #1 @ 12-15% interest compounded and payable every 90 days

$12m Convertible Promissory Note #2 @ 12-15% interest compounded and payable every 90 days

$1m Convertible Promissory Note #3 @ 15% interest compounded and payable every 90 days

That is $3m in interest only per year with no principal paydown

That is another $750,000 off the bottom line every Quarter right into the CEO pocket that continues into perpetuity.

There is also the debt service on the $10m secured borrowing arrangement against receivables


MusclePharm still owes $8.115m in past due liabilities as of Q2 10-Q




Codie is correct