Muscle Pharm Corporation (MSLPQ)

[Madcowelixir]

They continue to borrow Million$$$ every 90 days to fund operating losses

They continue to post margin constriction despite expenses being cut (another -20% decrease in employees) meaning heavy discounting increases Q over Q.

$3m Credit Line against Inventory from Crossroads is fully tapped this Q (was $0 last Q). Additional $2m was borrowed against AR from Prestige this Q.

$5m of additional borrowings was necessary this Q to stay afloat.

MSLP now has $26m+ in collateralized debt against assets not counting $8m in past due debt to partners and vendors and $$$$ more in Accounts Payable.

MSLP has $50m in debt and is clearly upside down and posting massive losses with their revolving door CFOs.