Wednesday, November 15, 2017 10:43:19 AM
Expenses are cut to the bone. Endorsements are now $12K annually to a sherpa manager and some other forgettable no body.
Yet, MSLP still lost $4m in Q3 that they readily admit they "adjusted" down to a $2m loss. The adjustments are the fake "gain" on the settlements where suppliers settled for something rather than nothing. Of course this isn't a legit, repeatable and sustainable gain so strip those out and MSLP lost $4m cash in real cash operating losses in Q3.
MSLP cannot even break even much less generate a real profit
COGS is .67 on every $1.00 in sales
Ryan's interest revenue tax is .03 on every $1.00 in sales
MSLP sold off 60% of their total Q3 receivables for 80% face value. That is desperation for cash flow.
MSLP has now hocked its inventory too.
Now Ryan says expenses are going to go significantly up as the move to Burbank California comes with higher employee costs both salary and taxes as CA has one of highest State Income Tax Rates in the country and Workers comp is outrageous. Not to mention the loss of worker productivity in the gridlocked valley.
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