Muscle Pharm Corporation (MSLPQ)

[SLC-JD]

So the BOD is going to turn down an offer to replace 18MM of secured debt with shares issued at a higher PPS than the conversion option in the notes, and pursue a restructuring of that debt? The restructuring better eliminate the interest payments, set a conversion rate not materially different than $1.98 *and* keep the company afloat, or Buck (and the rest of the shareholders) are going to have an easy time making a case for breach of fiduciary duty.

SMH