Pro Bodybuilding Weekly interviewed IFBB Pro bodybuilder Hidetada Yamagishi today for the first time since his release from jail. Hide Yamagishi was arrested and charged with steroid possession and distribution in December 2007; he was released after 65 days in jail after his attorney had all felony charges dismissed. His travel visa was revoked.
Yamagishi told Dan Solomon and Bob Cicherillo of Pro Bodybuilding Weekly that he is currently working to obtain a visa so he can compete at the 2008 IFBB Pro Bodybuilding Weekly Championships in Tampa, Florida on August 9, 2008 and possibly the 2008 Europa Pro show.
Hide is not angry or bitter and the events that have occurred over the past few months. He continues to be grateful for every opportunity bodybuilding has provided him. He told listeners his relationship with Milos Sarcev is good and he hopes to work with him in the “future forever.” He thanked his fans for their support while he was in jail with special thanks to Silvio Samuel and Mitsuru Okabe.
He continues to take full responsibility for everything that has happened to him and implores fans to learn from his mistakes repeating sentiments recorded a video message last month for his fans upon his initial return to Japan.
Former IFBB Pro bodybuilder Milos Sarcev and Rick Robinette founded Koloseum Nutritional Science (KNS) in 2006. Redux Holdingspurchased 100% of remaining shares in KNS. The acquisition by Redux Holdings has been in the works for some time. The Los Angeles Business Journal explains the role of Redux Holdings and how its holding of Naturade resulted in the acquisition of Koloseum:
Thus was born Redux Holdings Inc., which uses its penny stock to acquire assets of underperforming and distressed companies on a non-cash basis. He then leverages debt financing from investment banks and other sources to pay off creditors and rebuild the company, often employing bits and pieces of other acquisitions.
“Usually what you see in the turnaround market is people with a lot of money who would hire someone else to do the turnaround; it’s a pure financial play for them,” said Michelin, most recently a partner at Santa Monica-based restructuring firm Kibel Green Inc.
“What I wanted to do is combine the capital with the operational expertise of people who know how to turn it around, so in the end we’d have the equity.”
Michelin’s current focus is re-establishing Anaheim-based Naturade Inc., a venerable Orange County nutritional supplement maker that fell on hard times, according to regulatory filings, following mismanagement by a new owner earlier in the decade.
In January 2007, Rick Robinette came aboard Naturade (a subsidiary of Redux Holdings) while it was recovering from Chapter 11 bankruptcy. When Naturade emerged from bankruptcy in November 2007, it quickly raised $1.2 million in funding, gave significant equity stakes to Rick Robinette (who was promoted to Chief Operation Officer (COO)) and Milos Sarcev (who was retained as Chief Science Officer). Redux Holdings also acquired a 30% stake in Koloseum Nutritional Sciences.
The recent purchase completes the acquisition of KNS by Redux Holdings. What does this mean? Trey Meehan, private equity manager and venture capitalist involved with Redux Holdings offered the following analysis:
Well, here is what I think it does for the Company. First, it provides a new product line to market alongside the Naturade brand to a large network that is already in place. Naturade is in stores all across the United States (as well as some international locations) like grocery stores, natural food stores, Sam’s Clubs, vitamin stores and many more. The Naturade brand typically targets the mass audience (moms and pops of the world).
The KNS line targets athletes.
Why does it matter? Well, is there a more efficient way to introduce leading edge, proprietary, nutritional formulas into your “everyday” product line than to take it from a sister product line that already produces supplements for world class athletes.
Congratulations to Milos Sarcev, who in recent years has successfully fought an indictment on steroid charges and deflected controversy from his association with the BALCO scandal.
Ron Avidan from GetBig.com had the opportunity to visit Hidetada Yamagishi in jail at the North County Correctional Facility (Pitchess Detention Center) at the end of the December 2007.
In terms of food, Ramen noodles, and tuna he can get as a treat, but prison food it is, or whatever they decide to give them that day. In terms of training, there is no gym equipment there, so Hidetada does a lot of pushups, and other various exercises that he can to stay in shape.
In seeing Hidetada, he seemed to be in good spirits, wearing his glasses, in a blue L.A. County jumpsuit, and still in excellent shape. We talked about the future, and when he gets out, on whether he can compete in time for the August IFBB shows, or whether the INS might not let him stay here.
Hide also dispelled rumors that his arrest had anything to do with Milos Sarcev.
Regarding Milos, none of this looks like it involves Milos, and he was planning to move to New York, train at Bev Francis’ Powerhouse Gym, and then come back a few weeks before the Ironman to train with Milos.
But no details on whether Hide was arrested and jailed for possession of anabolic steroids or something else. We hope to have more information at Hidetada’s court appearance on January 8, 2008.
For more information on the visit with Hide, check out Ron’s full report.
