These guys have absolutely zero excuse for giving themselves bonuses. This is pure "I'm gonna get mine while I can Jack!" From a management point of view they have obviously not run this company well at all. Nothing but dilution and drop in value because they cannot turn a profit, partially because of inflated salaries and bonuses. And to think they suspended the stock buy back program and then give themselves bonuses, while diluting share value. This is a joke. And for the record, I have been long this stock the entire time I have held it and have waited patiently and silently, but this is absurd. If I was not already in a position of "Oh well, might as well hope something happens because my entire investment is almost already gone", I would leave these guys in the dust. It is going to take a miracle to create real value with over 2 BILLION shares now outstanding. To put that in perspective, for this to go to .05 cents/share the company would have to be valued at $100 MILLION. That is not even in the foreseeable future. I will NEVER invest in a penny stock again and have clearly learned my lesson. Sorry for the negativity and i am holding until the end at this point and going down with ship praying for a miracle, but those prayers are unlikely to be answered. Sad but true.
wbmarks28, thank you for your post. I am in the same situation with a huge loss on this stock. I became infuriated with what you said about this company having to be worth 100million dollars to even reach a nickel and so I used that in part of my comment I posted on MSLP's facebook page. I love a good #$%$ every now and then...
My comment on their page in case they delete it...
Muscle Pharm, I am currently a shareholder in your company. I have posted on your wall once before, but the comment was replied to and immediately deleted. I simply would like to know why your business releases no information to its investors at least on a quarterly basis (not including 8-K's that tell us you're diluting the stock further and mandatory SEC filings. We want to know what the plans are moving forward, expansion ideas, new markets, etc.
I am very confident in this company, but unfortunately am increasingly let down by its leadership. Your company has yet to post positive earnings and has relinquished the accounting company of its duties due to the fact there was "substantial doubt as to the Company's ability to continue as a going concern." However, the following list of names in the leadership of this company feels as though they have deserved bonuses for the 2012 fiscal year.
Brad J. Pyatt $ 160,000
John H. Bluher $ 130,000
Cory J. Gregory $ 130,000
Jeremy R. DeLuca $ 130,000
L. Gary Davis $ 75,000
This is absolutely embarrassing muscle pharm. And Brad Pyatt, you should know better. Please rectify this situation before you run this company further into the ground.
And for the record, you guys currently want to have your company's shares to be sold on a large exchange, but do you realize that with 2 Billion shares outstanding, in order for the stock price to get to a NICKEL, this company would have to be worth $100 Million!!!
Let's be gentlemen and run the company in a way that makes us ALL money.