MusclePharm Names 11th Largest Accounting Firm, Moss Adams, as Independent Auditor
MusclePharm Corporation (OTCMKTS: MSLP) has appointed Moss Adams LLP as its independent auditor for the fiscal year ending December 31, 2021. This decision follows a thorough review of Moss Adams LLP's qualifications. CEO Ryan Drexler expressed optimism about the future, especially with the upcoming launch of MP Performance Energy this summer. However, the company acknowledges various risks, including potential declines in consumer spending and increased competition that could impact financial outcomes.
- Appointment of Moss Adams LLP as independent auditor, indicating a commitment to transparency.
- Upcoming launch of MP Performance Energy, which could enhance market presence.
- Risks related to potential declines in consumer spending affecting demand.
- Increased competition in the nutrition sector could impact revenue growth.
CALABASAS, Calif., July 20, 2021 (GLOBE NEWSWIRE) -- MusclePharm Corporation (OTCMKTS: MSLP), a global provider of leading sports nutrition & lifestyle branded nutritional supplements, announced today that the Audit Committee of its Board of Directors has engaged Moss Adams LLP to be the company’s independent auditor for the fiscal year ending December 31, 2021. This engagement follows a careful review by the Audit Committee of Moss Adams LLP’s qualifications to serve as independent auditor of a fast-growing public company in this industry and the completion by Moss Adams LLP of its client acceptance process.
Mr. Ryan Drexler, MusclePharm’s CEO and Chairman of the Board, stated, “With the launch of MP Performance Energy, which is slated to begin distribution this summer, we are excited about the future of MusclePharm and look forward to working with Moss Adams as our independent auditor.”
Forward-Looking Statement
This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” or “continue” or other comparable terminology. Such forward-looking statements only speak as of the date of this press release and the Company assumes no obligation to update the information included in this press release, except as required by law. Statements made in this press release that are forward-looking in nature may involve risks and uncertainties. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, without limitation, risks relating to consumer spending may decline or that U.S. and global macroeconomic conditions may worsen resulting in reduced demand for the Company’s products, risks relating to changes in consumer preferences away from the Company’s offerings, risks relating to the effectiveness and efficiency of the Company’s advertising campaigns and marketing expenditures, including existing brands and the launch of new brands, which may not result in increased revenue or generate sufficient levels of brand name and program awareness, risks if the Company becomes subject to health or advertising related claims from its customers, competitors or governmental and regulatory bodies, and risks relating to increased competition from other nutrition providers. As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements.
This list of risks, uncertainties and other factors is not complete. We discuss some of these matters more fully, as well as certain risk factors that could affect our business, financial condition, results of operations, and prospects, in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in subsequent reports we file from time-to-time with the SEC, which are available to read at www.sec.gov. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the results of any revisions to the forward-looking statements made in this press release.
About MusclePharm Corporation
MusclePharm® is an award-winning, worldwide leading sports nutrition & lifestyle company offering branded nutritional supplements. Its portfolio of recognized properties include the MusclePharm® Sport Series, Essentials Series, and recently-launched Natural Series, as well as FitMiss™ – a product line designed specifically for female athletes. MusclePharm® products are available in more than 100 countries globally, with its Combat Protein product lineup being the company’s most popular.
Contact:
John Mills, Managing Partner
ICR, Inc.
646-277-1254
John.Mills@Icrinc.com
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