MusclePharm Corporation (OTC BB:MSLP), reported that the National Association of People with AIDS (NAPWA) requested the approval of MSLP’s Recon nutritional supplement to the New York State Medicaid list of prescription medications.
The MSLP Recon supplement contains important amino acids, assisting in reaching the higher levels of nutrition required for people living with Human immunodeficiency virus (HIV).
Recon Nutritional Supplement is easily digestible, helps the absorption of amino acids and proteins and also contains essential minerals, digestive enzymes, Glutamine and other metabolic agents that maximize recovery, protein synthesis and endurance.
Brad Pyatt, MusclePharm’s Chief Executive Officer stated “We are honored with the NAPWA’s support of therapeutic nutritional supplementation and look forward to the day when MusclePharm’s Recon is available to people living with HIV in New York State and all of those who depend on Medicaid for their therapeutic needs.” He also stated “We believe this increased support continues to position MusclePharm as one of the leading developers and manufacturers of nutritional supplements.”
Nutritional Supplementation has long been utilized within the HIV community to maintain and support muscle mass and help strengthen the immune system.
Unlike other Medicaid available proteins, MSLP’s Recon helps to burn fat while building muscle. This is a factor essential to people living with HIV, especially those on antiviral regimens where unwanted fat may be an issue in those who often battle muscle depletion.
MSLP.ob recently reported that they have been nominated for Five Bodybuilding.com Supplement Award Nominations that include: Breakout Brand of the Year, Recovery Product of the Year (Re-Con), Pre-Workout Product of the Year (Assault), Best New Supplement of the Year (Bullet Proof), and Best Packaging of the Year.
MusclePharm’s top management has extensive experience in the sports world and has harnessed this drive and focus into building a business to benefit its customers and help Fuel The Athlete Inside.
MSLP is headquartered in Aurora, Colorado, the company is a fast-growing developer and manufacturer of safe, scientifically approved, nutritional supplements that are free of banned substances and tested by athletes.
Each and every MusclePharm product is the end result of an advanced six-stage research and testing protocol involving the expertise of top nutrition scientists. They are designed to help athletes, bodybuilders, weightlifters and fitness enthusiasts improve their performance.
The Company will work with Friedman to complete and file its Form 10-Q on or before August 23, 2010.
BDO Li Xin Da Hua was appointed as independent auditors on May 20, 2010. BDO Li Xin Da Hua did not issue any audit report on CNYD’s financial statements from the appointment date of May 20, 2010 to the resignation date of August 8, 2010.
BDO Li Xin Da Hua recommended that the Company strengthen its internal controls, such as improving documentation for certain transactions and hiring competent and well trained personnel to prepare US GAAP based reporting documents.
Based upon its currently available financial information, CNYD expects to report revenues for the second quarter in the range of $15.5-16.5 million dollars and net income in the range of $7.5-8.5 million dollars. These figures are subject to change based upon the completion of its second quarter financial statements with its independent auditor.
