Opko's Billionaire CEO Invests In MusclePharm [View article]
Most people don’t remember Hard Nutrition – and with good reason. This was Brad Pyatt’s company prior to founding MusclePharm. It tanked in a big way, but that didn’t curtail Brad’s spending, and in the end he managed to declare bankruptcy, leaving creditors holding the bag to the tune of half a million dollars. Already MusclePharm has failed to pay almost every creditor on time and in full for all of their transactions (and I say “almost” because there’s a chance I’m overlooking someone, but my inbox has it at 100%). Their typical strategy for advertising seems to be “run the ad and we’ll pay you next month” (which doesn’t happen), their typical strategy for getting orders manufactured is “if you don’t fill our next order, we can’t pay you for the last one” and their strategy when all else fails is to pay debts late and never in full. Whether it’s $ 50,000 or $ 500, they’re not going to pay you on time and in full, and you can be sure of that.
Although the NFL lists Brad as a former wide receiver, he should have been a running back: run up a ton of bills and then run away.
Here’s his highlight reel:
■MusclePharm lost almost $ 5 for every $ 1 in sales. ■Their cost of goods is 70% — they have no buying power to leverage and no margins to work with ■Their expenses (operations, advertising, admin) cost them $ 4.50 for every dollar in sales. ■Brad Pyatt & Corey Gregory received $ 5.3MM in stock (at the time it was issued). ■They have changed auditors 5 times in the last 2 years Ultimately, Pyatt was forced to turn over a bunch of expensive vehicles he’d purchased, his home, and a bunch of other stuff, but still managed to stiff most of his creditors for a ton of money. Now he’s running a publicly traded company and paying himself an income in the top 5% of the United States, while simultaneously posting multi-million dollar losses each quarter:
Opko's Billionaire CEO Invests In MusclePharm [View article]
I was in MSLP in the pennies, before the reverse split. I think 800 to 1, I lost a ton of money from dilution. There management team is really sub par. Corey and Brad have bankrupted previous companies. Beware.
Made a big mistake, was up. Did not sell into strength. Taking a huge loss now. Sold today. Will readdress in future. I think it goes lower. Romney gets in. I am all in. Have to see power fuels numbers to really assess. High PE. I think it goes down. But I like the stock and the story. On my watch list.
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Opko's Billionaire CEO Invests In MusclePharm [View article]
Opko's Billionaire CEO Invests In MusclePharm [View article]
Although the NFL lists Brad as a former wide receiver, he should have been a running back: run up a ton of bills and then run away.
Here’s his highlight reel:
■MusclePharm lost almost $ 5 for every $ 1 in sales.
■Their cost of goods is 70% — they have no buying power to leverage and no margins to work with
■Their expenses (operations, advertising, admin) cost them $ 4.50 for every dollar in sales.
■Brad Pyatt & Corey Gregory received $ 5.3MM in stock (at the time it was issued).
■They have changed auditors 5 times in the last 2 years
Ultimately, Pyatt was forced to turn over a bunch of expensive vehicles he’d purchased, his home, and a bunch of other stuff, but still managed to stiff most of his creditors for a ton of money. Now he’s running a publicly traded company and paying himself an income in the top 5% of the United States, while simultaneously posting multi-million dollar losses each quarter:
Opko's Billionaire CEO Invests In MusclePharm [View article]
Opko's Billionaire CEO Invests In MusclePharm [View article]
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Amarin (AMRN +1.6%) bucks a weak tape this morning after saying that the USPTO has issued two patents covering the use of it's VascepaTM capsules for treating Hypertriglyceridemia. The patent issuance is part of AMRN's effort to protect the commercial potential of the drug through 2030, and it plans to list both patents in the FDA's Orange Book. [View news story]
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