27 year old CEO Claims His Second IPO & Signs Tiger Woods to Endorse : Under30CEO 27 year old CEO Claims His Second IPO & Signs Tiger Woods to Endorse : Under30CEO
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27 year old CEO Claims His Second IPO & Signs Tiger Woods to Endorse

| November 22, 2011 | 16 Comments

Photo credit: GolfChannel.com

Today, at Under30CEO we’re publishing an interview with 27 year old Adam Adler, CEO of Fuse Science, our first Under30CEO running a publicly traded company, ticker symbol: DROP.  With a 27 year old CEO at the helm, Fuse Science has signed Tiger Woods, Michael Vick, David Ortiz and Arian Foster to their list of endorsers of their energy boost products.  Adler can be seen with Tiger during an interview on CNBC yesterday.  After conducting my research for the interview, I quickly became skeptical and wanted to be sure that this penny-stock wasn’t too good to be true.

The endorsement team is extremely impressive, aside from Woods’ and Vick’s off the field troubles and Ortiz’s positive steroid tests.  Professional athletes do have a record of making terrible investments, but as Adler points out in the interview, to sign Tiger must have been quite the ordeal.  You would think Woods has a whole team of trainers, scientists, lawyers, agents, and PR people.   Fuse Science’s board of directors is filled with scientists from places like Duke and leaders from former Fortune 500 companies.

While most conversations I have with start up CEOs are easy going, as you can tell by my facial expressions in the interview, I was mainly perplexed.  I couldn’t find much data on the newly debuted ticker symbol DROP and again, I wanted to be sure this company was for real for the sake of our readers.  One thing is for sure … Adler is a damn good salesman.

Adler says he led his previous company Ultimate Social Network Inc. (USNI) to an IPO and says it was “one of the first social networking companies to go public.”  USNI doesn’t have a single mention in Techcrunch that I could find and their signature web property http://ultimatecollegemodel.com is parked and for sale on GoDaddy.  When I asked Adler about USNI, he didn’t seem to know much about it these days or what the company was up to.

Here’s where it gets a little technical and I get even more perplexed.  Adler explains how his second company Fuse Science went public.  After doing some post interview research, it turns out that Double Eagle Holdings, the company that is now Fuse Science, actually  bought USNI, Adler’s first company he IPO’d.  This would mean through this complex trail of mergers and acquisitions, Adler is CEO of the company that acquired his previous company.  Why wouldn’t he know anything about USNI, if he is CEO?

Adler also claims that people are viewing Fuse Science “as the next Facebook”, which is a surefire way to get me to doubt you.  The company who is yet to report earnings, is paying Adler  $18k/month + $1k/month for a car.  If your product hasn’t launched yet, why would you take shareholder’s money and pay yourself that type of salary?

In any event, Fuse Science’s story is impressive and Alder claims they are going after two huge markets in the consumer nutrition space as well as licensing the intellectual property to the pharmaceutical industry. Raising other people’s money in an IPO to capitalize a company in the pharmaceutical space probably makes sense if you can pull it off. Listen to the interview below and make your own call. There is a lot to be learned about how capitalization in the public markets work and how this young CEO has convinced some people that Fuse Science is the next big thing…or is it going to DROP?

The sure bet is we will be watching this story for you on Under30CEO.

Interview conducted by Matt Wilson, Co-founder of Under30CEO.  Connect with him on Twitter @MattWilsontv.   

About the Author: Matt Wilson

Matt Wilson is co-founder of Under30CEO. After two years traveling and working from his laptop, Matt's official title became Adventurer in Residence, heading up Under30Media's travel company Under30Experiences. If Matt is around he will be easy to spot as his long luxurious hair is generally flowing freely in the breeze.

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Category: Entrepreneur Interviews

  • Brian

    No one “IPOs” on the OTC pink sheets with good intentions (let alone reverse merger IPOs).   This guy has the penny stock pump & dump vibe all over him..

  • Sarah

    To run your own company and have your brand in the spotlight is such a blessing! However I am not sure why he would want endorsements from persons with such soiled images, it makes me think very poorly of his brand and company as a whole. I will not be purchasing anything from Fuse. 

  • http://www.i95dev.com Henry Louis

    Hi Matt! Thanks for sharing this endorse information.

  • waxman

    Anyone who knows Adler knows he is a scam artist. Got to hand it to him on Woods must have offered him half of the company. No revenue, no clients  …was able to raise only 1 million bucks and pays himself a third of that in salary  where is the SEC?

  • waxman

    Just read their 10k and 10Q reports. Never have read anything like it. 10 million in accumulated deficit. They acknowledge they DO NOT have the money to run their business or meet any of their objectives, They have borrowed 400k in 8 and 12% interest notes with punitive warrants. They are spending more than the entire 400k they have borrowed on salaries (180k x 3 540k) for the three owners!! Plus 32k in car allowances. They are losing 250k per quarter, have no revenue, and no expectations of any revenue. Boy Bernie Madoff would have loved this one. They claim this “fuse science” is both the “next facebook” in fact, the guy who invented it thought it was so worthless he sold the whole company to them for 100k!! Adler used the shell company to take over double eagle, when double eagle is the shell company he sold his last worthless company to, AMAZING

  • splendores

    Everything about this guy smells of scam. I gotta hand it to him though for landing Tiger Woods

  • http://pulse.yahoo.com/_WDVGW2J7GQRAPX76WM3LVNIN74 RicoR

    What a shady character, his plan s to pump and dump shares of this crappy company DROP and anyonewho thinks otherwise deserves the losses they will soon incur…shame on you Tiger for participating in this scam…woulda expected itfrom Jose Canseco.

  • Surgisvanhalen

    Yes… Where is the SEC? This is clearly a scam company with no product or patents, as claimed, and these guys running the operation don’t seem at all worried about getting caught. Looking into the past (Double Eagle, Health Sport, Ultimate Social Network, etc.) there is not one real company there. Notice how careful Tiger has been in not saying he has tried their product…he wants to be able to act surprised when the company goes belly up and not liable for helping promote the fraud.

  • http://www.facebook.com/people/Jon-Hill/1421336439 Jon Hill

    The fact that he mentioned “exit strategy” in his first answer makes me nervous about their stock getting dumped.

  • Luvhung

    “no expectations of any revenue,” haha, thats a laugh. why don’t you learn what your talking about noob. 

  • Luvhung

    “no expectations of any revenue,” haha, thats a laugh. why don’t you learn what your talking about noob. 

  • Luvhung

    “no expectations of any revenue,” haha, thats a laugh. why don’t you learn what your talking about noob. 

  • opethomas1

    A piggy bank with 2 nickles makes more noise than a full piggy bank 

  • http://www.olnaytigroupltd.co.ke/ Olekamwaro Meeli

    great effort

  • Rapidpenny

    Way to go Adler!!  Keep doing what you do and all will be well.

  • Rapidpenny

    Way to go Adler!!  Keep doing what you do and all will be well.