Thursday, October 19, 2017 12:25:50 PM
The real desperation is that Buck Wessell realizes that MusclePharm is very likely to declare bankruptcy any day now and that grants Ryan the ability to foreclose on the assets and take the business under and move to Ryan's place in SoCal
This move has already been announced
Ryan's secured debt due date is Nov 7 (just 19 days from today) and gives him the path to bankruptcy and foreclosing on the assets
That is why Amerop letter specifically has a deadline of 4 days before Ryan's notes due date
Buck and his 100% "unsecured investment" truly believes this is probable and why his desperate attempt to illegally assume Ryan 100% "secured" debt.
When Ryan declares bankruptcy and forecloses on the MSLP assets and moves to SoCal, Buck is left with zero (despite investing $4.5m to date in unsecured common shares) in the same boat as the rest of you unsecured shareholders.
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