MusclePharm

FitLife Brands Announces Third Quarter 2023 Results

Retrieved on: 
Monday, November 13, 2023
Online, EBITDA, Acquisition, CAD, MusclePharm, USD, Advertising, Movement, Weakness, MRC, GAAP, Total, First Citizens BancShares, Rare-earth element, Video game, Pharmaceutical industry, Life insurance, Security (finance), Retail

Omaha, NE, Nov. 13, 2023 (GLOBE NEWSWIRE) -- November 13, 2023 – FitLife Brands, Inc. (“FitLife,” the “Company,” or “we”) (Nasdaq: FTLF), a provider of innovative and proprietary nutritional supplements and wellness products, today announced financial results for the third quarter ended September 30, 2023.

Key Points: 
  • Omaha, NE, Nov. 13, 2023 (GLOBE NEWSWIRE) -- November 13, 2023 – FitLife Brands, Inc. (“FitLife,” the “Company,” or “we”) (Nasdaq: FTLF), a provider of innovative and proprietary nutritional supplements and wellness products, today announced financial results for the third quarter ended September 30, 2023.
  • Highlights for the third quarter ended September 30, 2023 include:
    Total revenue was $13.9 million, an increase of 67% compared to the third quarter of 2022.
  • Online revenue for the quarter was $9.4 million, an increase of 338% compared to the quarter ended September 30, 2022.
  • Net income for the third quarter of 2023 was $1.7 million, an increase of 39% compared to $1.2 million during the quarter ended September 30, 2022.

FitLife Brands Closes Acquisition of Substantially All of the Assets of MusclePharm Corporation

Retrieved on: 
Friday, October 13, 2023
Bankruptcy, Acquisition, Total, Growth, First Citizens BancShares, MusclePharm, Title 11 of the United States Code, Bank

Omaha, NE, Oct. 13, 2023 (GLOBE NEWSWIRE) -- FitLife Brands, Inc. (“FitLife” or the “Company”) (Nasdaq: FTLF), a provider of innovative and proprietary nutritional supplements and wellness products, today announced that on October 10, 2023, it successfully closed the acquisition of substantially all of the assets of MusclePharm Corporation (“MusclePharm”) as previously approved by the US Bankruptcy Court for the District of Nevada.

Key Points: 
  • Omaha, NE, Oct. 13, 2023 (GLOBE NEWSWIRE) -- FitLife Brands, Inc. (“FitLife” or the “Company”) (Nasdaq: FTLF), a provider of innovative and proprietary nutritional supplements and wellness products, today announced that on October 10, 2023, it successfully closed the acquisition of substantially all of the assets of MusclePharm Corporation (“MusclePharm”) as previously approved by the US Bankruptcy Court for the District of Nevada.
  • Through the asset purchase transaction under Section 363 of the US Bankruptcy Code, the Company acquired substantially all of the assets and assumed none of the liabilities of MusclePharm other than de minimus cure costs relating to certain assumed contracts.
  • Dayton Judd, FitLife’s Chairman and CEO, commented, “We are excited to close the MusclePharm acquisition.
  • We expect MusclePharm to drive continued revenue and earnings growth for our Company as we expand distribution and launch new products.”

FitLife Brands to Acquire Substantially All of the Assets of MusclePharm Corporation

Retrieved on: 
Wednesday, September 27, 2023
The Vitamin Shoppe, Bankruptcy, First Citizens BancShares, MusclePharm, Arnold, United States bankruptcy court, Costco, GNC, EBITDA, Acquisition, Title 11 of the United States Code, Walmart, Amazon (company), Growth, Hand, Security (finance), Marketing

Through the asset purchase transaction, the Company is acquiring substantially all of the assets and assuming none of the liabilities of MusclePharm (other than de minimus cure costs relating to certain assumed contracts).

Key Points: 
  • Through the asset purchase transaction, the Company is acquiring substantially all of the assets and assuming none of the liabilities of MusclePharm (other than de minimus cure costs relating to certain assumed contracts).
  • After current third-party resellers have exhausted their inventory, FitLife intends to fully internalize this revenue stream and drive further online revenue growth for the MusclePharm products.
  • As is the case with FitLife’s other brands, online sales of MusclePharm products are anticipated to generate substantially higher gross margins than those achieved through wholesale distribution.
  • Dayton Judd, FitLife’s Chairman and CEO, commented, “We are very excited to welcome MusclePharm to the FitLife family of brands.

SEC Charges Former MusclePharm Executives with Accounting and Disclosure Fraud

Retrieved on: 
Wednesday, June 28, 2023
Executive, Central District, MusclePharm, Peugeot 304, Disclosure, SOX, Complaint, District court, Sales and operations planning, Security (finance), Fraud, Douglas v. U.S. District Court ex rel Talk America

The SEC also separately charged Drexler with fraud in a litigated complaint for disclosure violations and control failures.

Key Points: 
  • The SEC also separately charged Drexler with fraud in a litigated complaint for disclosure violations and control failures.
  • The SEC’s settled complaint alleges that Casutto, with the assistance of Zucco, engaged in a fraudulent scheme to prematurely recognize revenue for orders that remained in MusclePharm’s control.
  • The complaint further alleges that Harris should have known that MusclePharm prematurely recognized certain revenue and that MusclePharm overstated other revenue by misclassifying customer credits as advertising expenses rather than as reductions to revenue.
  • The litigation is being led by Zachary Carlyle and Sharan Lieberman and supervised by Mr. Burt, Mr. Heinke, and Gregory Kasper.

Greenlite Executes Agreement with Chief Operating Officer

Retrieved on: 
Friday, January 13, 2023
2004–05 Cleveland Cavaliers season, Organization, MusclePharm, Athlete, Strategic planning, OTC Markets Group, Cleveland Cavaliers, Arnold Schwarzenegger, UFC, Management, Sport

Boca Raton, FL, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Greenlite Ventures, Inc. (OTC Pink: GRNL) has signed an Agreement with Richard Estalella making him the Company's Chief Operating Officer.

Key Points: 
  • Boca Raton, FL, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Greenlite Ventures, Inc. (OTC Pink: GRNL) has signed an Agreement with Richard Estalella making him the Company's Chief Operating Officer.
  • Estalella will be responsible for overseeing GRNL's operational flow, process improvements, and strategic planning including operational expansion.
  • Prior to that he served as President of MusclePharm, a publicly traded sports nutrition company that tripled its sales during his 3-year tenure.
  • Estalella helped identify, negotiate and close endorsement deals with numerous athletes, teams and organizations including Tiger Woods, Arnold Schwarzenegger, UFC, Manchester City, and the Cleveland Cavaliers.

MusclePharm Announces the Launch of FitMiss Energy

Retrieved on: 
Wednesday, July 6, 2022
Efficiency, MusclePharm, Director, Securities Act of 1933, Securities Exchange Act of 1934, RDI, GLOBE, Marketing, Company, Advertising, Female, Branch, BCAA, Terminology, Awareness, Energy Independence and Security Act of 2007, Communication, Securities & Exchange Commission of Pakistan, Health, Risk, MSLP, LAS, Board, Caffeine, U.S. Securities and Exchange Commission, Program, Social media, Coffee, Bottled water, Biotin, Amazon

LAS VEGAS, July 06, 2022 (GLOBE NEWSWIRE) -- MusclePharm Corporation (“MusclePharm” or the “Company”) (OTCMKTS: MSLP), a global provider of leading sports nutrition and lifestyle branded nutritional supplements, today announced the launch of FitMiss Energy, a ready-to-drink, zero-calorie functional energy beverage featuring 450mg of Branched Chain Amino Acids (“BCAA”), 200mg of caffeine, and 100% recommended dietary intake (“RDI”) of Biotin per can in three refreshing flavors: Pineapple Coco, Mango Sunshine, and Watermelon Waterfall. The MusclePharm FitMiss brand has been a leader in the female performance segment, with FitMiss Delight, for the last 5 years. Building onto the FitMiss brand family, FitMiss Energy features no artificial colorings or flavorings and is available in competitively priced, 12-can cases of a single flavor or a variety-pack format exclusively on Amazon.

Key Points: 
  • The MusclePharm FitMiss brand has been a leader in the female performance segment, with FitMiss Delight, for the last 5 years.
  • Building onto the FitMiss brand family, FitMiss Energy features no artificial colorings or flavorings and is available in competitively priced, 12-can cases of a single flavor or a variety-pack format exclusively on Amazon.
  • FitMiss Energy is a better-for-you, healthier energy drink option that contains zero-calories per can and provides functional benefits including Branded Chain Amino Acids and added Biotin.
  • MusclePharm is a scientifically-driven, performance lifestyle company that develops, manufactures, markets and distributes branded sports nutrition products and functional energy beverages.

MusclePharm Announces Private Placement of $2.5 Million Senior Secured Notes

Retrieved on: 
Monday, June 6, 2022
MSLP, Advertising, Company, Offering, Marketing, Securities Act of 1933, Annual report, United, Senior, MusclePharm, Sale, Risk, Original issue discount, GLOBE, Private Securities Litigation Reform Act, Note, Social media, U.S. Securities and Exchange Commission, Regulation D, Security (finance)

The definitive agreements provide for the issuance and sale of an additional $3,081,875 in principal amount of 20% Original Issue Discount Senior Secured Notes (the Notes), resulting in gross proceeds to the Company of approximately $2,465,500.

Key Points: 
  • The definitive agreements provide for the issuance and sale of an additional $3,081,875 in principal amount of 20% Original Issue Discount Senior Secured Notes (the Notes), resulting in gross proceeds to the Company of approximately $2,465,500.
  • The private placement is expected to close on or about June 8, 2022, subject to the satisfaction of customary closing conditions.
  • In connection with the Offering, the investors from the October 2021 private placement have agreed to extend the maturity date of the Senior Secured Notes issued in October 2021 to such date that is six months from the closing of the Offering and increase the original issuance discount of such notes to 28%.
  • These statements concern, among other things, the intended use of net proceeds from the private placement and MusclePharms business strategies.

MusclePharm to Present at the LD Micro Invitational XII Conference

Retrieved on: 
Tuesday, May 24, 2022
MusclePharm, Conference, Social media, MSLP, Four Seasons, GLOBE, Hotel, Marketing, Public relations

The MusclePharm investor presentation is scheduled for Tuesday, June 7, 2022, at 4:00 pm Pacific Time.

Key Points: 
  • The MusclePharm investor presentation is scheduled for Tuesday, June 7, 2022, at 4:00 pm Pacific Time.
  • MusclePharm is a scientifically-driven, performance lifestyle company that develops, manufactures, markets and distributes branded sports nutrition products and functional energy beverages.
  • Since our incorporation in 2006, we have developed a comprehensive product portfolio, which has fueled the widespread recognition of our brands, MusclePharm and FitMiss.
  • Today, these brands are sold in more than 100 countries globally, supported by our diversified and industry-leading distribution partners.

MusclePharm Announces First Quarter 2022 Financial Results

Retrieved on: 
Monday, May 16, 2022
Income, ID, Company, International, Social media, Depreciation, U.S. Securities and Exchange Commission, Director, Webcast, Health, Amazon (company), Investor relations, MP, Marketing, Adjustment, Efficiency, Securities Act of 1933, Securities Exchange Act of 1934, Partnership, Awareness, Female, Board, Program, Communication, Terminology, Risk, Advertising, MusclePharm, GAAP, Securities & Exchange Commission of Pakistan, Growth, Amazon, MSLP, GLOBE, Video game, Dietary supplement, Television, Bookkeeping, Risk management, Costco, EBITDA

LAS VEGAS, May 16, 2022 (GLOBE NEWSWIRE) -- MusclePharm Corporation (“MusclePharm” or the “Company”) (OTCMKTS: MSLP), a global provider of leading sports nutrition and lifestyle branded nutritional supplements, today reported financial results for the first quarter ended March 31, 2022.

Key Points: 
  • Company Triples MP Performance Energy Sales in First Quarter of 2022 from Fourth Quarter of 2021 to Over $1.1 Million; Delivers Energy Margins of 35% in First Quarter of 2022
    LAS VEGAS, May 16, 2022 (GLOBE NEWSWIRE) -- MusclePharm Corporation (MusclePharm or the Company) (OTCMKTS: MSLP), a global provider of leading sports nutrition and lifestyle branded nutritional supplements, today reported financial results for the first quarter ended March 31, 2022.
  • Mr. Ryan Drexler, the Chairman of the Board of Directors and Chief Executive Officer, stated, We delivered sequential revenue improvement in the first quarter of 2022 with revenue of $13.1 million, up from $10.0 million in the fourth quarter of 2021.
  • Within this press release, the Company refers to a non-GAAP financial measure (Adjusted EBITDA) which has a directly comparable U.S. GAAP financial measure (net (loss) income).
  • Since our incorporation in 2006, we have developed a comprehensive product portfolio, which has fueled the widespread recognition of our brands, MusclePharm and FitMiss.

MusclePharm to Announce First Quarter 2022 Financial Results on Monday, May 16, 2022

Retrieved on: 
Tuesday, May 10, 2022
Company, International, ID, Investor relations, MusclePharm, GLOBE, Webcast, Social media, MSLP

LAS VEGAS, May 10, 2022 (GLOBE NEWSWIRE) -- MusclePharm Corporation (MusclePharm or the Company) (OTCMKTS: MSLP), a global provider of leading sports nutrition and lifestyle branded nutritional supplements, announced today that the Company will report its financial results for the first quarter ended March 31, 2022, after the market closes on Monday, May 16, 2022.

Key Points: 
  • LAS VEGAS, May 10, 2022 (GLOBE NEWSWIRE) -- MusclePharm Corporation (MusclePharm or the Company) (OTCMKTS: MSLP), a global provider of leading sports nutrition and lifestyle branded nutritional supplements, announced today that the Company will report its financial results for the first quarter ended March 31, 2022, after the market closes on Monday, May 16, 2022.
  • The Company will host a conference call to discuss its operating results on Monday, May 16, 2022, at 1:30 pm Pacific Time (4:30 pm Eastern Time).
  • Investors interested in accessing the live call can dial (855) 327-6837 from the U.S. and International callers can dial (631) 891-4304.
  • MusclePharm is a scientifically-driven, performance lifestyle company that develops, manufactures, markets and distributes branded sports nutrition products and functional energy beverages.