So are you implying that management sold shares without reportin the sales and used the undisclosed sales to buy shares, which they then reported?
Your short. We get it, but please stop lying and generally annoying this board.
Sentiment: Strong Buy
There are multiple different NASDAQ markets that a company can list on and each has its own requirements. Capital Market is where most small-caps up-list to and those are not the requirements for the Capital Market. MSLP is well within the requirements for Capital Market.
Please stop being annoyingly ignorant or flat out lying because you are short the stock.
Sentiment: Strong Buy
The primary focus of the formal SEC investigation in MSLP is the massive insider selling of shares and the lack of reporting and accounting. Go do some research into the $ millions that were granted to Pyatt, sold and not reported.
Brad is lying. His massive share selling is part of the formal SEC investigation into the MSLP accounting and compensation practices.
The insider open market buys were financed by "free" share grants to the same key executives/insiders that were then sold and repurchased on the open market.
That makes the insider shares accumulated at a net zero cost to executives and in no way endorses insider buying.
It actually is dishonest and unethical but that is the norm with MSLP as 3 key executives did not claim several million dollars in income on either their W-2 or tax forms in 2012. This is a felony and they are attempting to claim ignorance.
As you can plainly see, MSLP is not eligible for a NASDAQ listing for at least several years. MSLP would need to file positive earnings for 3 consecutive years or positive cash flow for 3 consecutive years or have a market cap of $850 million for at least 12 consecutive months.
Listing Requirements for All Companies
Each company must have a minimum of 1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. In addition, the regular bid price at time of listing must be $4, and there must be at least three market makers for the stock. However, a company may qualify under a closing price alternative of $3 or $2 if the company meets varying reequirements. Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360. Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.
Listing Standard No. 1
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
Listing Standard No. 2
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Listing Standard No. 3
Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million, and revenues over the prior fiscal year are at least $90 million.
The advisor team appointment next to the management team was a brilliant decision. The transformation from a startup company to a viable commercial company is going smooth.
I like MSLP CEO because his driven energy… his ambitions and the professional team next to him would make this company very valuable in the industry.
Judging by the success this company has at turning profits, I would say yes. History is a good indicator. They spend ridiculously too much money. Ride it all the way down tool..
Brad Pyatt was interviewed yesterday on their facebook page and someone asked him if he was selling his shares. His response was that he's never sold a single share.
This announcement allows them to purchase stock within the next year, but does not obligate them to make the purchase. At $8 a share, it only amounts to 625,000 shares if they bought all the shares the $5 million allows. Looks like they are trying to get the stock price back up so they can sell some of the shares management owns.
Just a penny stock strategy to fool the gullible. There are no profits from operations to purchase shares with.