Muscle Pharm Corporation (MSLPQ)

[Madcowelixir]

MSLP has $26.4m of debt currently at interest rates ranging from 12%-20% per annum. Think about that.....Over $4m a year in debt interest without a single $1 in principal paydown. This makes payday loan companies blush. Oh, by the way.....MSLP borrowing is still increasing exponentially as it is the only funding source of real cash operating losses that continue to explode.

$18m to the trust fund baby

$3m to Crossroads (fully tapped the secured credit line against Inventory)

$5.4m to Prestige (secured by Accounts Receivable)

***This does NOT include $7m in debt currently owed to Manchester City and other legal settlements that is past due.

That is $35m in current real debt.

MSLP has cut employees another -20% this period and has barely 50 on staff as revs continue to decline -30%. You can't cut your way to profitability as revs continue to decline faster than expenses.

Rent on the new Burbank facility is a half million $$ a year NOT counting cap ex on the wresting mats and equipment. Good thing MSLP has it's priorities straight. When you are losing $1m-$2m a month in real cash burn, you can't have enough wrestling mats, no?