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Muscle Pharm Corp. Message Board

  • dr.tjm42 dr.tjm42 Nov 13, 2012 7:21 PM Flag

    2 guys effing a million shareholders....

    and there's nothing you can do about it. I posted for a long time here that if you do some digging into Pyatt and Gregory, you'd see that they're borderline criminals with what they're doing as far as hiding money as corporate expenses or "tweaking" numbers and burying them in a balance sheet. It wasn't that much different than your typical sleazeball CEOs but the part that scared me the most was that these 2 #$%$ hold all of the Series B Preferred stock (which is 50.99% of total voting power) and therefore own 100% of the control, free to do whatever they want. No proxies, no stockholder vote, no input, and no repercussions.

    As if to add insult to injury, after diluting the stock to oblivion and driving the stock to basically nothing, they decide to reverse-split 1-850 for a bunch of garbage reasons. That wouldn't be catastrophic except for the fact that after the split, they are going to diluted it much further by issuing another 100,000,000 shares.

    Think about this... if you calculate what these 100 million shares would equate to if they authorized the shares before the split, it is 100,000,000 X 850 or 85 BILLION new shares. At today's price of .0066 the stock will be $5.61 after the split so they would issue $561 million in new shares. Right now, the market cap of the entire company is $9.6 million. Just let that sink in. It's staggering.

 
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