Showing posts with label MusclePharm Corporation. Show all posts
Showing posts with label MusclePharm Corporation. Show all posts

Wednesday, March 28, 2012

MusclePharm (OTCBB: MSLP) Completes Retirement of All Convertible Notes From Derivative Financing Companies

MusclePharm (OTCBB: MSLP) Completes Retirement of All Convertible Notes From Derivative Financing CompaniesOrlando, FL 3/28/12 (StreetBeat) -- MusclePharm Corporation (OTCBB: MSLP), a nutritional supplement company focusing on all categories of an active lifestyle, today announced it has completed the retirement of all of its outstandingconvertible notes held by various financing companies.

In January 2012, the company instituted a convertible debt retirement program under which it would retire all of its outstanding convertible notes. Under the program, the company has used cash flow from operations, as well as mezzanine financing, to retire the notes. MusclePharm has retired $5.5 million of derivative financing instruments with $3.0 million cash and 55 million shares of common stock.

"Our goal is to become a fully sustainable free cash flow business by the end of the 2012 first quarter," said Brad Pyatt, chief executive officer. "Retiring the convertible debt has helped reduce uncertainty in our equity structure and represents a major step in our plan to re-capitalize MusclePharm and strengthen its balance sheet. We are very excited to have completed this program and to continue our focus on growing our business, and adding value for our shareholders."

"We are pleased to have reduced our derivative liability exposure on the company's balance sheet," said John Bluher, chief operating officer. "A significant amount of the company's operating loss and dilution to shareholders was attributable to these convertible note instruments. While such debt served a purpose during a time when we were investing in marketing and branding with the objective of creating revenues, we are happy to be moving ahead without these toxic dilutive instruments."

ABOUT MUSCLEPHARM CORPORATION

MusclePharm is a healthy life-style company that develops and manufactures a full line of NSF International and Informed Choice approved nutritional supplements that are free of banned substances. Based on years of research at the MusclePharm Sports Science Center, the products are created through an advanced six-stage research protocol involving the expertise of top nutritional scientists and field tested by more than one hundred elite professional athletes from various professional sports leagues including the National Football League, Mixed Martial Arts and Major League Baseball. The company's products address all categories of an active lifestyle, including muscle building, weight loss and maintaining general fitness through a daily nutritional supplement regimen. MusclePharm is sold in more than 120 countries and available in over 10,000 U.S. retail outlets, including GNC and Vitamin Shoppe and Vitamin World. MusclePharm products also are sold through more than 100 online stores, including bodybuilding.com, Amazon.com and Vitacost.com.

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Thursday, January 12, 2012

MusclePharm (OTCBB: MSLP) Inks Deal With NFL Superstar, 49er All-Pro Patrick Willis

MusclePharm (OTCBB: MSLP) Inks Deal With NFL Superstar, 49er All-Pro Patrick WillisTallahassee, FL 1/12/12 (StreetBeat) -- MusclePharm Corporation, a Nevada corporation (OTCBB: MSLP), an expanding U.S. nutritional supplement company, is pleased to announce that it has signed San Francisco 49er superstar linebacker Patrick Willis. The NFL standout has been a perennial All-Pro selection and is also a five-time Pro Bowl selection.

A two-time All-American at Mississippi, the first-round draft pick of the 49ers in 2007 has quickly become one of the top defensive players in the NFL. In fact, an ESPN.com expert vote, Willis was named the NFL's best linebacker and the fourth-best defensive player. In addition to his tremendous on-field success, Willis' rigorous fitness regimen and noted work ethic also makes him an ideal match with MusclePharm and its healthy lifestyle vision.

Willis' social media following includes nearly 105,000 fans on Twitter as well, which fits in perfectly with MusclePharm's impressive and strong social media presence. "I love the fact that I can partner with a company that is developing cutting edge products that help me train harder and perform to the best of my abilities," NFL Superstar Patrick Willis said. "MusclePharm takes the guess work out of using supplements because I know they take the time to test all their products above and beyond what is required for athletes. MusclePharm is the Athletes Company and I am excited to join the team."

MusclePharm, which is the official nutritional supplement provider of the Ultimate Fighting Championship (UFC), has also inked deals with NFL superstars Michael Vick and Chad Ochocinco in 2011.

MusclePharm continues to grow at an impressive rate as well, setting a monthly company sales record ($2,700,000) in November.

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Tuesday, January 3, 2012

MusclePharm's (OTCBB: MSLP) Assault™ Now Top-Selling Pre-Workout Product On Bodybuilding.com

MusclePharm's (OTCBB: MSLP) Assault™ Now Top-Selling Pre-Workout Product On Bodybuilding.comPalm Beach, FL 1/3/12 (StreetBeat) -- MusclePharm Corporation, a Nevada corporation (OTCBB: MSLP), an expanding U.S. nutritional supplement company, is pleased to announce that the Company's popular pre-workout product ("Assault") is now the No. 1-selling pre-workout product on Bodybuilding.com, the world's largest online sports nutrition retailer with yearly revenues upwards of $250 million.

Assault, which was recently named the "2011 Bodybuilding.com New Supplement of the Year," is also now the No. 2 overall top-selling product on a website that features more than 12,000 products from 500 companies.

Assault is currently the only pre-workout product in the sports nutrition market to have certifications from the National Science Foundation (NSF) and Informed Choice as Banned Substance Free. Assault continues to garner impressive reviews from athletes and consumers around the world, also earning extraordinary reviews in recent clinical trial studies performed at the prestigious United States Sports Academy .

Phase 1 and Phase 2 clinical trial studies were recently completed with Assault and will be published in the coming months in a major medical journal. With unprecedented results for a pre-workout product, it will only lend validity to the already popular Assault product that is one of the most effective and safest pre-workout products on the market with the science to prove it.

Other MusclePharm products continue to have similar success on Bodybuilding.com as well, including the following:
Assault is the No. 1-selling pre-workout and No. 2 overall best-selling product
Armor-V ™ is the No. 2-selling Multivitamin
Shred Matrix ™ is the No. 3-selling Fat Loss product
Combat Powder ™ is the No. 3-selling Whey Protein

Additionally, MusclePharm, the official nutritional supplement provider of the Ultimate Fighting Championship (UFC), has six products that are in the top 50 overall best-selling products on Bodybuilding.com. Of those, three (Assault, Combat and Armor-V) are in the top 15 overall best-selling products in what are also three of the most prominent categories in the sports nutrition industry.

"This is very exciting news for MusclePharm. We are thrilled to have Assault as the No. 1 pre-workout product on Bodybuilding.com as that site is the standard for sports nutrition worldwide. With our upcoming clinical studies on Assault from the United States Sports Academy , it will only add to the credibility of an already proven and reliable product," MusclePharm CEO Brad Pyatt said.

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Friday, December 9, 2011

MusclePharm Breaks Company Record for Monthly Sales in November

MusclePharm Breaks Company Record for Monthly Sales in NovemberOrlando, FL 12/9/11 (StreetBeat) -- MusclePharm Corporation, a Nevada corporation (OTCBB: MSLP.OB), an expanding U.S. nutritional supplement company, is pleased to announce that it set a Company record for monthly sales during the month of November with gross sales of approximately $2,700,000 .

While the fourth quarter is historically a slow month in the nutritional supplement world, MusclePharm continued to show consistent growth, reaching approximately $2,700,000 in gross sales during November, its biggest sales month in Company history. The total costs of goods sold for the November products sold equated to $1,700,000 . Other Company expenses in November remained similar to the figures reported in the Company's unaudited financial statements during the third quarter of 2011.

The Company's popular Assault™ pre-workout product ("Assault"), which was recently named the "2011 Bodybuilding.com New Supplement of the Year," also broke a Company record for most units sold by an individual product in a single month, selling over 70,000 units during the record-breaking month. Assault is currently the No. 3 overall top-selling product on Bodybuilding.com among more than 12,000 products, while MusclePharm is the No. 2 top-selling brand on Bodybuilding.com, a popular e-commerce site that features nearly 600 brands. The consistent growth and record-setting month also indicates continued development for MusclePharm, which is the official nutritional supplement provider of the Ultimate Fighting Championship (UFC).

"We continue to see enormous growth in revenues each month at MusclePharm and have been able to develop a consistent customer retention rate with our hands-on customer service between our popular social media channels," MusclePharm Chief Executive Officer Brad Pyatt said. "I really believe our consumers know we care about them and we are passionate about their own personal results and our brand quality. We are aggressively moving to make MusclePharm one of the biggest brands in the nutritional supplement industry."

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