Cory Gregory, co-founder of MusclePharm, outlines the amount of capital raised by the company upon going public and through subsequent private placements.
Assertion Partly supported
MusclePharm generated $500M in cumulative sales over seven years
“Muscle Farm has sold about five hundred million in products total since inception in about seven years, and since I walked away from being an executive there, I started on this”
Disclosure
Cory Gregory retains approximately 3% equity in MusclePharm following dilution
“So I think all in now it's probably about three percent after we diluted it down to raise capital.”
Assertion Supported
MusclePharm reached 40,000 retail doors across 100 countries in distribution
“Dude, we had like, and still do like 40,000 doors. I mean, a hundred countries in distribution.”
Assertion Not checkable as stated
Cory Gregory's Old School Gym produces six-figure cash flow without employees
“I think we did about maybe 60,000 dollars In profit from the gym itself and another maybe 60 or 70,000 dollars from the clothing too. So we do, so it's a six-figure cash flow business, key card facility, no, no employees, very, very basic model.”
Assertion Not checkable as stated
Corygfitness.com generated $34,000 in revenue during its first month
“I started the website December fifth. It did 34,000 dollars in the first month.”
Prediction Not checkable as stated
Cory Gregory projects Corygfitness.com will reach $1M+ in 2016 revenue
“It's a million dollar business or plus. I mean, that's the plan for sure.”