 CALABASAS, Calif., July 26, 2021 GLOBE NEWSWIRE -- On April 6, 2016, the Internal Revenue Service IRS selected MusclePharm Corporations OTCMKTS: MSLP 2014 Federal Income Tax Return for audit and, as a result, proposed certain adjustments with respect to the tax reporting of certain of the Companys former executives 2014 restricted stock grants. On April 4, 2017, MusclePharm received a letter from the IRS asserting back taxes and penalties of approximately 7.3 million dollars owed for the 2014 restricted stock grants. MusclePharm submitted a formal protest disputing the matter on several grounds and has been pursuing this matter vigorously through the IRS appeals process. On June 29, 2021, an IRS Appeals Officer confirmed that the tax matter had exceeded the applicable statute of limitations and was deemed closed from any further assessment by the IRS. 