CWS, where do find $1.7 paid? I see a vague statement related to Capstone that may or may not refer to the cost of the 20% equity warrants and not the $2.5m cash partial payment due. It is vague. The company clearly states Bill Phillips has been paid $250K of $1m contract so I know they can be clear. If they are not clear or leave an out it generally is bs. See Estrella last CC and the debt covenant compliance bs.
Investing Activities
Cash used in investing activities of $2.3 million for the six months ended June 30, 2015, was primarily due to cash payment of $0.9 million related to MusclePharm apparel rights acquisition, investment in contract manufacturer of $1.0 million related to our opportunity to acquire Capstone and purchase of property and equipment of $0.9 million, partially offset by proceeds from disposal of property and equipment of $0.4 million.
Cash provided by investing activities of $0.6 million for the six months ended June 30, 2014, was primarily due a change in restricted cash of $2.5 million and $0.5 million from the proceeds from settlement of marketable securities which was partially offset by $2.4 million for purchase of property and equipment.
In June 2015, the Company entered into sponsorship and endorsement agreements with bodybuilding pioneer Bill Phillips as Strategic Advisor and Chief Editor of Content. The minimum contractual payments under the agreements as of June 30, 2015 are approximately $1.0 million of which $250,000 has been paid as of June 30, 2015.
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