MusclePharm Corp., an expanding U.S. nutritional supplement company, today released a shareholder letter from its CEO, Bradley J. Pyatt, to update shareholders on the current status of the company. The letter in its entirety is shown below.
Dear Valued MusclePharm Shareholder,
The MusclePharm Executive Team would like to offer its most sincere thank you for your continued and amazing support over the past year. We have continued on an impressive pace in building a very powerful brand and company since MusclePharm was created in 2008.
We believe that the foundation we’ve formed at MusclePharm – high-level employees, top-notch institutions, and the numerous and extensive studies we have engaged in – will ensure the long-lasting growth of MusclePharm. We have followed compliance on everything from our manufacturing certification to our studies at Oklahoma University, and both of these items are what the top vendors love to see.
Our worldwide distribution has grown significantly in the last 12 months. The growth has been so impressive that we have received numerous accounts in person from those in the industry that say that we are the fastest-growing company in the sports nutrition market.
We also believe our partnership with the Ultimate Fighting Championship (UFC) is growing our brand internationally at a rapid pace. We saw this first-hand with international distributors at the recent FIBO conference in Germany. There, nearly everyone knew and recognized the MusclePharm brand.
Additionally, Medicaid reimbursement is in its final stages in New York. Our entire medical board continues to work diligently and vigorously to finish what could be a landmark moment for our company.
We also have shown that the fundamentals of our company continue to get better as we move forward and manage our extreme growth. MusclePharm has gone from $80,000 in sales in 2008 to $4 million in 2010 and, now, already more than $6 million through just the first Five months of 2011. We are excited about that growth and we are confident the best is yet to come.
In closing, we at MusclePharm appreciate your remarkable support and we will not rest until we are the dominant name in this industry. We will continue to sell more and spend less, expanding at a significant rate thanks to quality and proven industry professionals.
Chairman, Chief Executive Officer