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| MSLP > SEC Filings for MSLP > Form 8-K on 30-Mar-2012 | All Recent SEC Filings |
30-Mar-2012
Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Other Events, F
Amendment to Articles of Incorporation
On March 26, 2012, MusclePharm Corporation (the "Company") filed an amendment to the Company's articles of incorporation with the Secretary of State of the State of Nevada, to increase the Company's authorized common stock from one billion (1,000,000,000) shares of common stock, par value $0.001 per share, to two billion five hundred million (2,500,000,000) shares of common stock, par value $0.001 per share.
In January 2012, the Company instituted a convertible debt retirement program (the "Program), pursuant to which the Company initiated a buy-back all of its outstanding convertible promissory notes (the "Notes"). Under the Program, the Company has used cash flow from operations and mezzanine financing to retire the Notes. As of the date hereof, the Company has retired an aggregate of $5,523,327 of derivative debt, with (i) $3,045,577 in cash and (ii) 55,000,000 shares of the Company's common stock. Over the past ninety days the Company has reduced its derivative debt and related derivative liability exposure on the balance sheet by $5,523,327.
(d) Exhibits
Exhibit No. Description
3.1* Amendment to the Articles of Incorporation, dated March 26, 2012
*Filed herewith
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